An individual can withdraw the proceeds of a stock transaction sale in three days (T+3) after a stock is sold subject to the procedures on the withdrawal of funds. An unused cash balance longer than three days dormant can be withdrawn anytime thereafter, allowing for one day notice with a cut-off time of 11:00am to prepare the check payment for that day.
To compute for the clearing days, follow this formula: Transaction day plus 3 days (T+3). Excluding holidays and weekends
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)