How to Withdraw Funds in CitisecOnline

by Gily Tenorio on March 1, 2013

in Stocks

Are you looking for a procedure on how to withdraw funds or money from CitisecOnline? In this post, I would like to give you detail information on how to withdraw money from your Citiseconline account based on my personal experience.

In the past, I have withdrawn funds in Citisec for more than 4 times already. I started investing in stocks with Citiseconline since 2010.

There are several tips that you should remember before getting your money from Citisec. What I like with their service is the ease of adding and withdrawing funds.

I’m not aware of other online stock broker in the Philippines whether if they have the same features as Citisec because I don’t have any account with them. In my opinion, easy access or liquidity of your funds should be one of your greatest considerations when choosing a stock broker.

How to Withdraw Your Funds in CitisecOnline

In general, you can withdraw money from your Citisec account at anytime and anywhere you are. I was able to withdraw money in Citisec even I’m abroad so I think there will be no problem whether your are in the Philippines or outside the country.

All of the requirements and forms can be seen and downloaded from their website so I think there will be no hassles when doing this at the first time. You may follow the procedure below on how to withdraw funds from your account.

1. Ensure you have sufficient money to withdraw

You must check first your account balance before you attempt to withdraw money. Log in to your stock broker account and go to your Portfolio page. There, you can see how much money is available to be used for other activities like buying and withdrawing money.

If you go to your “Portfolio” page, the screen should look like as below. Your available balance for withdrawal can be seen on the “Actual Balance” section.

Citisec

If you want to withdraw money from your account, you may need to sell some stocks to be able to do so especially if you don’t have enough funds like this one of mine.

2. Download the Withdrawal form

You need to download the withdrawal form that you can found in the website of Citiseconline. Click here to download the form.

Fill out the form completely with details of the amount you want to withdraw, your account number and the ID number that you will submit. In my case, I use my passport as the valid ID.

3. Send the withdrawal form via email

The most convenient way to send this form is through email. You must scan your completed form and send it via email plus the scanned copy of your valid ID like passport, SSS, GSIS, PRC, Voter’s ID or company ID.

Email it to withdrawals@colfinancial.com and then you will receive a confirmation message that they have received your request. Normally. the fund will be added to your registered bank account around 1-3 days after you submit the withdrawal form.

That’s it! It is simple as 1-2-3!

Final Word

If you do encountered some problem, you may also call COL at the number indicated in the withdrawal form so it will be faster to be resolved. In my experience, I never encountered any problem yet and the addition of funds to my account was smooth and fast.

 

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