Liquidating your account refers to permanently closing your account by selling all of your assets for cash.
How do you initiate a liquidation?
You can initiate a liquidation via the app:
1. Tap on the Move Money icon in the lower right corner of your dashboard
2. Select Withdraw Money
3. Select Withdraw All
4. Select Continue
5. Select Continue with Liquidation
You can also email us at [email protected], and someone will assist you with account liquidation.
How long does a liquidation take?
If your money is held in cash, a withdrawal could go out in the next business day. If your money is invested in Investments Kits, it could take up to 10 business days for your funds to arrive in your bank account.
Apex Clearing, our brokerage partner, requires deposits to remain for 10 days as part of their standard anti-money laundering procedures. So you will need to wait 10 days to withdraw from the date you deposited. This is the standard for much of Wall Street.
Where can I check on the status of my liquidation?
You can view the progress of all transactions (withdrawals, deposits, transfers) in the app at any time. Your dashboard will always show any pending transactions at the top of the screen. Tap on the banner to view the status of your pending transaction.
Additionally, you can tap Account Settings > Transactions to view all transactions, both completed and pending. Tap on the transaction to view the latest status.