You can access the Withdrawal page if you click on the Funding Societies logo on the top of the webpage.
In the right hand column, simply enter the withdrawal amount and submit the withdrawal request.
We have seen a rapid increase in our investor base over the last couple of years which has resulted in a very high number of transactions. To ensure it does not impact the transaction processing timelines and we continue to provide you with the best possible user experience, we are putting in place a very nominal $20 threshold for all withdrawals effective 1st July 2020. It’s also aligned to the minimum investment amount of $20 on the platform.
We have tried to keep it as low as possible to have minimal inconvenience to you. We understand some of the platforms in Singapore charge a fee on withdrawals. However, we will continue to absorb all local transaction charges incurred on withdrawals.
What this means for you
- If you want to withdraw $20 or more there are no restrictions and you can request for withdrawals directly by logging into the account
- If your wallet balance is less than $20, we would request for you to wait for more repayments to come in making the balance $20 or more and then request for withdrawal
- If your wallet balance is less than $20 and you do not have any further repayments coming in the future, please write to us at firstname.lastname@example.org and we will process your request
Please email us at email@example.com or start a live chat with us on https://fundingsocieties.com/ for any clarifications.
We process withdrawal requests every morning at 10am SGT, working with our escrow agency that manages the escrow account where all investor funds are held.
As the withdrawals are paid out via GIRO, it normally takes 2-3 business days for the funds to reach your bank account.
If you wish to change the bank account that we transfer your funds to, you will have to change your default bank account.
Also for overseas accounts, withdrawals are subjected to foreign exchange rate risks. Bank charges for overseas transfers apply and will be borne by investors.