Withdrawn funds will be received based on three (3) factors:
1. Your selling date
2. Your request date
3. Your preferred settlement option
If you have just sold your stocks, you would need to wait three (3) business days after your selling date before the withdrawal request can be processed. This settlement period is called (T+3). For mutual fund selling transaction, once the funds would reflect in your PORTFOLIO, you may request for its withdrawal already.
Example 1: If you sold your shares on Monday - we will process your withdrawal request on Thursday
Example 2: If you sold your shares on Wednesday - we will process your withdrawal request on the following Monday
To process withdrawal requests, our Withdrawals team has a cut-off processing time. The cut-off times are:
1. 10:00am Cut-off
This is for clients with COL registered bank accounts with Landbank, Maybank, Producers Bank or Robinsons Bank. These banks have an earlier check deposit cut-off period in their bank branches.
2. 11:00am Cut-off
This is for clients with COL registered bank accounts that are not mentioned above or will pick-up a check in COL's Business Center in Pasig City.
Any withdrawal requests submitted after their corresponding cut-off periods will be processed the next business day.
PREFERRED SETTLEMENT OPTION
Clients can choose between the following:
Option 1: Check to be deposited to registered bank account
From experience, funds usually reflect from 4:00pm to 7:00pm of the day of the check deposit.
Option 2: Check will be picked-up at COL's Business Center in Pasig City
Check will be available for pick-up at 3:00pm of the processing day and anytime during business hours of the following days.
Example 1: Stocks were sold on Monday and Client submitted the withdrawal request before 11:00am on Tuesday and will pick-up the check
Withdrawal request will be processed after 11:00am on Thursday. Check will be available for pick-up starting at 3:00pm on Thursday.
Example 2: Stocks were sold long ago and Client submitted the withdrawal request after 11:00am and the registered bank is BDO
Withdrawal request will be processed the following business day after 11:00am and the check will be deposited to BDO after processing. From experience, funds usually reflect from 4:00pm to 7:00pm of the day of the check deposit.