When making a withdrawal request, COL Financial would prepare a check under the COL account holder's name. You may choose to pick up the check at our business center or choose the bank deposit option.


To make a withdrawal request:


  1. Log into your COL Financial account
  2. Click on the HOME tab
  3. Click on the FORMS link on the sub menu
  4. Click on the icon beside the Form Needed for Withdrawal of Funds section





Completely fill out the details necessary in the form and send a copy by email at withdrawals@colfinancial.com or via fax at (632) 6346958 addressed to our Accounting Department. Cut off time for processing is 11:00am. Any request received after the cut off will be processed on the next business day.


Important Notes:


FUND CLEARING

  • If you are withdrawing funds from a selling transaction, it would have to undergo 3 days clearing. 
  • To compute for the clearing days, follow this formula: Transaction day plus 3 days (T+3). Excluding holidays and weekends
    • Example: Sold shares on March 1 (Friday)
    • Clearing dates are: March 1 (transaction day) plus March 4,5,6 (3 days) 
    • A check will be prepared on the afternoon of March 6 (Wednesday)
  • Kindly do not use the funds that you have requested to withdraw. If used, you would need to send a new withdrawal request.


CHECKS FOR PICK UP

  • Checks are available for pick on starting 3:00pm onwards 
  • We would need the original filled out withdrawal form to be surrendered. 


CHECKS FOR DEPOSIT TO YOUR REGISTERED BANK ACCOUNT

  • Checks deposited to registered bank accounts usually reflect in your bank account late in the afternoon.
  • If you wish to change the recipient bank for your withdrawal, you would need to update your registered bank account with COL Financial. Click here for the step by step instructions.  
  • Update in bank details should be accomplished 48 to 72 hours before your withdrawal request.