Withdrawal of funds
First time selling stock on MooMoo. I'd like to withdrawal, but it doesn't look like the stocks I sold a hour ago have been credited to my account. Does anyone know how long it takes till funds are available to take out?
Trying to fund a Roth and will be rebuying the stock, but trying to move the funds to my IRA b4 the Monday deadline for 2021 IRA funding. Any pointers from those who have gone through the process would be appreciated. Thanks.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
103075732 : normally for me it's instant, maybe your funds are being frozen at the moment. best bet is to contact support
Will73 : Following a sale, your money needs to「settle」before you can withdraw them to your bank account. The settlement period is the trade date plus two trading days (T+2), sometimes referred to as regular-way settlement. On the third day, those funds will go into your buying power, and, assuming your withdrawal holding period has passed, funds will appear as withdrawable cash.
Will73 : Check the detail with customer service. At APP>Me>Customer Service>Online Inquiry or call their hotline 888-721-0610.
Shortcake117OP Will73: I'm figuring that out. I should have started the process last week to get it done on time. I wanted to go through the process without a real need for the cash, to see how long it would take if I really did need it. If I can't make last year's IRA deadline, life will go on.
I'm trying to figure out if I can use MooMoo to trade within an Alto Roth IRA. As I love the platform, so we'll see.
Shortcake117OP Will73: Thanks. I emailed my question and someone from Admin got back to me in app. They essentially said the same as you did - 3-5 business days. Then it may take a few days to clear my bank. So, for anyone's future reference, I'd say if you plan to need funds for withdrawal, plan on 5-7 days business days. If it moves more quickly than that, I'll post here for other's reference.