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How to withdraw funds via Electronic Funds Transfer (EFT)

1. How to withdraw funds via Electronic Funds Transfer (EFT)

To withdraw funds using Electronic Funds Transfer (EFT), please follow the steps below.

 

1.1 Link your bank account

1)Open the moomoo App and go to Accounts > Transfers > Bank Account, then tap Link a Bank Account to start the linking process;

2)Enter your information, select your bank, and log in with your online banking credentials.

3)After logging in, select the bank account you want to link and complete the setup.

 

1.2 Submit an EFT withdrawal request

Once your bank account is successfully linked, go to Accounts > Transfers > Withdraw, or click here. Select your withdrawal account, currency and method, then choose the bank account, enter the amount, and submit your EFT withdrawal request.

 

1.3 Check withdrawal status

In the moomoo app, go to Accounts > All > Funding History > Withdrawal to check the status of your withdrawal.

We will promptly notify you of your withdrawal status by email and in-app notification.

 

*Notes:

Withdrawals are currently only supported to a bank account in your own name. Withdrawals to another person’s bank account, a corporate account, or a third-party platform account are not currently supported.

 

2. EFT withdrawal details

Item

EFT (Electronic Funds Transfer)

Processing time

Usually 5 business days

Withdrawal fee

Withdrawals from Individual Margin Account, Individual Cash Account, or TFSA: Free

 

Withdrawals from RRSP/SRRSP: Fees include a service fee and withholding tax.

  • Service fee: Partial deregistration fee (Partial withdrawal): 50 CAD; Full deregistration fee (Full withdrawal): 75 CAD. Click here for details.

  • Withholding tax: A withholding tax of 10%–30% will be automatically deducted at the time of the withdrawal. Click here for details.

Supported account types

Individual Margin Account, Individual Cash Account, Registered Accounts (TFSA/RRSP/SRRSP)

Currency

Individual Margin Account: CAD & USD

Individual Cash Account: CAD & USD

TFSA: CAD & USD

RRSP/SRRSP: CAD

Banks

Canadian banks

Withdrawal limit

CAD withdrawal limit: minimum 0.01 CAD, maximum 50,000 CAD per withdrawal

USD withdrawal limit: minimum 0.01 USD, maximum 50,000 USD per withdrawal

 

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