We get a lot of questions about why it takes so long for a balance to appear in Raiz accounts after hitting deposit, so to explain this we thought we’d break this process down step-by-step, and how long these steps take.

When you invest or withdraw with Raiz, we try to make the process as smooth as possible, from the moment you hit the button, to the money appearing in your Raiz account or back into your bank account.

DEPOSITS:

When you hit deposit, it should take just 1, but can take up to 2 business days for Raiz to withdraw money from your chosen funding source.  This is because we send withdrawal requests once a day to our bank, every business day. If you deposit in your Raiz Investment Account before our daily cut-off time (approx. 3.30pm Sydney Time), your bank account will be debited that same night (and the following night if you deposit is received after this cut-off time).

This can seem longer over a weekend or public holiday.  

The following business day, once the withdrawal requests are processed, we invest that money, buying the shares for your investment (this is also done only once a day as outlined in the Product Disclosure Statement at around midday Sydney Time). As soon as that money has been invested, the value of your investment should be reflected in your Raiz Investment Account balance.When you hit deposit, it should take just 1, but can take up to 2 business days for Raiz to withdraw money from your chosen funding source.  This is because we send withdrawal requests once a day to our bank, every business day. If you deposit in your Raiz Investment Account before our daily cut-off time (approx. 3.30pm Sydney Time), your bank account will be debited that same night (and the following night if you deposit is received after this cut-off time).

This can seem longer over a weekend or public holiday.  

The following business day, once the withdrawal requests are processed, we invest that money, buying the shares for your investment (this is also done only once a day as outlined in the Product Disclosure Statement at around midday Sydney Time). As soon as that money has been invested, the value of your investment should be reflected in your Raiz Investment Account balance.

WITHDRAWALS:

When you withdraw from your Raiz Investment Account, we will execute that withdrawal within 1 business day. We sell the relevant shares for that investment once a day again.  If your withdrawal request is received after 9.30am Sydney time, your ETFs will not be sold until the next business day.

Due to the rules of buying and selling shares on the ASX, it takes 2 business days for us to receive payment for your withdrawal. Once received, Raiz transfers the withdrawal amount straight to your chosen funding source, which can take 1-3 business days depending on your bank.

This is why you can expect withdrawals to come back to your account in 5-7 business days.

We want this process to be as painless as possible for you, if you have any further questions or concerns we encourage you to contact us at support@Raizinvest.com.au or call us on 1300 754 748.