When you are ready to withdraw money from your iFlip account into your bank account there are some situations that can impact the total amount of "withdrawable cash" you have available. Please keep the below senarios in mind when withdrawing money into your bank:
Following the sale of a stock, your funds must go through a settlement period. The length of this period is the trade day plus 2 trading days. On the 3rd trading day your funds will convert into cash that is withdrawable, assuming you do not re-invest them in another stock.
AML Holding Period:
Any funds that have been recently deposited into your iFlip account must must remain in your account for 5 trading days. On the 6th trading day you will be able to initiate a withdrawal assuming your funds have not been invested in any stocks.
- Tuesday - Your ACH transfer hits your iFlip account and converts into buying power
- Wednesday - Day 1 hold
- Thursday - Day 2 hold
- Friday - Day 3 hold
- Monday - Day 4 hold
- Tuesday - Day 5 hold
- Wednesday - eligible for withdrawal
Bank Holding Period:
Funds deposited into iFlip from one bank cannot be withdrawn into another bank account for 60 days due to anti-money laundering restrictions. Once the 60 day period has cleared, you can deposit your funds into any of your bank accounts as long as they are located in the United States.