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Withdraw money from your Wallet
Withdraw money from your Wallet

Find out how to withdraw money from your Sharesies Wallet and how long withdrawals can take.

Sharesies Help avatar
Written by Sharesies Help
Updated over a week ago

Request a withdrawal

  1. Go to Wallet > Withdraw.

  2. Enter how much you’d like to withdraw (NZD)—the Withdraw button will be greyed out until you’ve entered an amount.

  3. Enter the bank account name and number for the account you’d like the money withdrawn into (you can also choose a bank account number from the options available).

You can only withdraw NZD from your Wallet. You’ll need to exchange Australian dollars (AUD) or US dollars (USD) to NZD before making a withdrawal.

Any money in your Wallet from a Gift, referral, or promo code needs to be invested before it can be withdrawn.

Withdrawal processing time

Settled money

If all the money you’re requesting to withdraw has settled, you should receive your withdrawal in 1–2 business days. It may take longer if we need more info from you (like for security purposes or to comply with any legal or regulatory obligation).

Unsettled money

Once your sell order fills on market, it becomes a ‘trade’ and must ‘settle’. This takes 1–2 business days. Settlement happens through an intermediary (such as the NZX Clearing House for NZ trades) and is the time it takes for legal ownership and money to be transferred from one shareholder to another.

Sell order settling and processing (3–4 business days)

Once your sell order fills on market, it becomes a ‘trade’ and must go through a ‘T+2 settlement’ period—this takes two business days. Settlement happens through an intermediary (such as the NZX Clearing House for NZ trades) and is the time it takes for legal ownership and money to be transferred from one shareholder to another.

After your trade has settled, we need to process the money. This means waiting to get the money from the intermediary that settled your trade, then making sure the amount matches our records (a process called ‘reconciliation’). At Sharesies, this process takes between 1–2 business days depending on the exchange your sell order went through. For example, it usually takes one business day to process and reconcile money from an NZ trade, but it takes two business days for US trades due to the difference in time zones.

Transferring you the money (1–2 business days)

We transfer money for withdrawals during business hours on weekdays. This is a regular bank transfer so the time it takes to get to you depends on your bank.

Faster withdrawals for a fee

If your withdrawal includes unsettled money, for a fee, we can pre-pay you the unsettled amount (so you don’t need to wait for your trade to go through settlement) and you’ll receive your withdrawal in
one business day. You can choose to select this option as part of the withdrawal process in the app.

Withdrawal verification

There may be times when we’ll need to verify that it’s you who’s making a withdrawal.

We’ll send a verification code to the phone number (or email address) registered to your Sharesies account. You’ll need to enter the verification code when prompted before you’ll be able to submit your withdrawal request.

If you’ve updated your contact information recently, you may not be able to receive a verification code. If this is the case, please email us at help@sharesies.co.nz so we can help you withdraw the money manually.

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