Last updated on June 6th, 2021
You may be thinking of creating an account with Endowus.
However after investing your money, is it easy to receive your funds from them?
Here’s what you need to know:
- 1 How to withdraw from Endowus
- 2 #1 Link your bank account
- 3 #2 Go to ‘Invest | Redeem | Transfer’
- 4 #3 Go to the ‘Make a redemption’
- 5 #4 Select the goal you wish to redeem from
- 6 #5 Select the account you wish to redeem from
- 7 #6 Select the amount you wish to redeem
- 8 #7 Provide a reason for redemption
- 9 #8 Select where to deposit your proceeds
- 10 #9 Track your withdrawal progress via email
- 11 Are there any fees when I withdraw my funds from Endowus?
- 12 How long does it take for my funds to reach my account?
- 13 Conclusion
- 14 👉🏻 Referral Deals
How to withdraw from Endowus
Here are the 9 steps you’ll need to take to withdraw your funds from Endowus:
- Link your bank account
- Go to ‘Invest | Redeem | Transfer’
- Go to the ‘Redeem’ tab
- Select the goal you wish to redeem from
- Select the account you wish to redeem from
- Select the amount you wish to redeem
- Provide a reason for redemption
- Select where to deposit your proceeds
- Track your withdrawal progress via email
#1 Link your bank account
When you create an account with Endowus, one of the things you’ll need to do is to link your bank account.
This allows you to transfer any withdrawals that you make into your bank account.
You can only use a bank account that is under your own name!
If you want to view your linked bank account, you can go to ‘Linked Accounts‘ from the sidebar.
On this page, you can view your linked:
- Bank Account
- CPF Investment Account
- SRS Account
If you want to change your linked account, you will need to contact Endowus’ support team to do so.
#2 Go to ‘Invest | Redeem | Transfer’
When you first login to the Endowus platform, you will need to go to the ‘Invest | Redeem | Transfer‘ page on the sidebar.
#3 Go to the ‘Make a redemption’
You will need to go to the ‘Make a redemption‘ page.
A redemption is equivalent to making a withdrawal.
#4 Select the goal you wish to redeem from
If you have multiple goals with Endowus, you will need to choose which goal you wish to redeem from.
#5 Select the account you wish to redeem from
Endowus allows you to invest your cash, SRS or CPF.
It is possible for you to invest your cash and SRS into the same goal! This is because your money will be invested in the same mutual funds if you use either of those sources.
As such, you will need to choose which funds you wish to redeem.
Here are the destinations, based on the type of funds you choose to redeem.
|Type of Fund||Destination|
|Cash||Linked Bank Account|
|SRS||Linked SRS Account|
|CPF||Linked CPF Investment Account|
#6 Select the amount you wish to redeem
You will need to select the amount you wish to redeem from your portfolio.
For each redemption request, you have to redeem a minimum of $100!
Moreover, if you redeem more than 90% of your whole portfolio, Endowus will do a full withdrawal for you.
Endowus mentioned that this is done to ‘ensure execution integrity’.
#7 Provide a reason for redemption
You will be asked to provide a reason for redeeming your funds from Endowus.
This is something similar that is found on StashAway too.
#8 Select where to deposit your proceeds
You will then need to select where you wish to deposit your proceeds into.
There are 2 places where you can deposit in:
- Cash balance
- Your linked account
Depositing into your cash balance will be more useful if you wish to transfer your funds between different portfolios.
For example, you may want to withdraw money from your Cash Smart portfolio to an investing portfolio.
It is still possible for you to withdraw your cash balance into your bank account. However, you’ll need to do 2 withdrawals manually, which is quite a hassle!
If you just want to withdraw the funds into your bank account, then you should choose the second option.
Once you’re done, you’ll need to wait for the funds to be sent to your account!
#9 Track your withdrawal progress via email
You are able to track your withdrawal progress via email. Endowus will send you updates regarding your withdrawal.
There are 2 steps required to for a withdrawal order to be processed:
- Redemption of your units
- Withdrawal to your bank account
Once both have been done, you will receive your funds in your linked bank account.
Are there any fees when I withdraw my funds from Endowus?
Endowus does not charge a withdrawal fee as these have already been incorporated into the Access Fee that you pay them.
As such, it is possible to make multiple withdrawals from them over a period of time!
The only fees that you’ll be charged are when you transfer your SGD funds to an overseas account. You will incur additional fees, such as:
- Remittance charges ~ 0.125% (Minimum $10, max of $120)
- Cable / agent charges
If you’re just transferring to your Singaporean bank account, SRS or CPF accounts, no fees will be charged!
How long does it take for my funds to reach my account?
Here are the projected number of days it takes for you to receive your funds from Endowus (depending on the source of your funds):
For cash withdrawals, it is slightly longer compared to Syfe which processes your withdrawals within 4-5 business days.
Endowus takes around 3 business days to redeem your funds. The time it takes for the withdrawal to be processed into your account will take slightly longer.
Withdrawing from Endowus is rather straightforward.
However, it may take a while to receive your funds, especially if you’re investing from CPF or SRS.
👉🏻 Referral Deals
If you are interested in signing up for any of the products mentioned above, you can check them out below!
Endowus Referral (Receive a $20 Access Fee Credit + up to $500 worth of rewards)
If you are interested in signing up for Endowus, you can use my referral link to create your account.
You will receive a $20 access fee credit, regardless of the amount that you start investing with Endowus.
The access fee does not have any expiry date. As such, you can invest at any pace that you wish, and still get $20 off your fees!
Current Promotion: Up to $500 worth of rewards
From now till 31 July 2021, Endowus is offering up to $500 worth of units of the LionGlobal All Seasons Fund (Growth).
This depends on the amount that you’ve invested in any of Endowus’ General Investing or Cash Smart portfolios:
|Every subsequent $5k||Additional $50|
You can receive up to $500 of units for your first $50,000 invested.
Here are some investments that will not count to this promotion:
- Investing in the ESG portfolio
- Investing in the Fund Smart customised portfolio
You can sell or withdraw these units after a minimum holding period of 90 days. You may want to take note that you’ll need to pay access fees for these units as well!
You can find out more about this promotion on Endowus’ website.
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