Withdraw Your Funds From Endowus With These 9 Steps

How To Withdraw From Endowus

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:

How to withdraw from Endowus

Here are the 9 steps you’ll need to take to withdraw your funds from Endowus:

  1. Link your bank account
  2. Go to ‘Invest | Redeem | Transfer’
  3. Go to the ‘Redeem’ tab
  4. Select the goal you wish to redeem from
  5. Select the account you wish to redeem from
  6. Select the amount you wish to redeem
  7. Provide a reason for redemption
  8. Select where to deposit your proceeds
  9. Track your withdrawal progress via email

When you create an account with Endowus, one of the things you’ll need to do is to link your bank account.

Endowus Link 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.

Withdraw From Endowus Linked Accounts

On this page, you can view your linked:

  1. Bank Account
  2. CPF Investment Account
  3. 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.

Withdraw From Endowus Invest Redeem Transfer

#3 Go to the ‘Make a redemption’

You will need to go to the ‘Make a redemption‘ page.

Withdraw From Endowus Make A Redemption

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.

Withdraw From Endowus Select Multiple Goals

#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.

Withdraw from Endowus Select Account To Withdraw

Here are the destinations, based on the type of funds you choose to redeem.

Type of FundDestination
CashLinked Bank Account
SRSLinked SRS Account
CPFLinked 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.

Withdraw From Endowus Select Amount

For each redemption request, you have to redeem a minimum of $100!

Withdraw From Endowus Redeem Minimum 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.

Withdraw From Endowus Reason For Redemption

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.

Withdraw From Endowus Deposit Proceeds

There are 2 places where you can deposit in:

  1. Cash balance
  2. 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!

Withdraw From Endowus Redemption Request Created

#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.

Withdraw From Endowus Email

There are 2 steps required to for a withdrawal order to be processed:

  1. Redemption of your units
  2. 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?

There are no withdrawal fees charged by Endowus when you make any withdrawal requests. This applies to withdrawing either your cash, SRS and CPF funds.

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:

  1. Remittance charges ~ 0.125% (Minimum $10, max of $120)
  2. 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):

FundsRedemptionWithdrawalTotal
Cash336
SRS3710
CPF3710

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.

Conclusion

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.

Endowus Referral (50% off Access Fee Until 30 June 2021)

If you are interested in signing up for Endowus, you can use my referral link to create your account.

Endowus Referral

You will receive a $20 access fee credit, irregardless 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!

Furthermore, you will be able to receive 50% off your access fee between 1 April – 30 June 2021!

All you need to do is to invest at least $1,000 in any Endowus portfolio by 30 April.


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