There may be several possible reasons that you are not able to withdraw your funds:
You are withdrawing within 15 days of your deposit.
Per TradeUP Securities' AML policies, clients may not initiate a withdrawal for funds within 15 days of the deposit.
The funds are not settled yet.
Funds will be available to withdraw after they are settled. The proceeds from your last sale transaction take 2 business days to settle. For option trades, the settlement period is 1 business day.
You are transferring out to a different account.
For AML purposes, if you are transferring out to a bank/brokerage account other than your originating bank account, there will be a 60-day withholding period.
Compliance Review
Certain withdrawal requests are subject to further compliance review and approval. Withdrawal activities without any trading activities or immediately after funding may be subject to enhanced due diligence questions or additional withholding period.
ACATS IN Assets
Funds/Securities deposited via ACATS cannot be withdrawn within 60 days through ACH or wire.
Still got questions? Contact TradeUP Customer Support by email at support@tradeup.com or reach out to us on Live Chat!