After more than a year of trading, I decided to withdraw fund from my COL Financial account. I am anxious about the process and the time that it would take as this is the first time that I will withdraw from my COL Financial account. But surprisingly the steps are simple and it took approximately 2 days for the fund to be credited on my bank account.
Please keep in mind that there are things to consider upon withdrawing a fund from your account, such as the following:
- Free cash balance in COL Financial account (proceeds from sales of stocks raised after 3 working days)
- Payment Option (Check Pick-Up or Deposit to registered bank account)
- Time of sending the request (Please note that COL Financial has designated time of responding customer’s request)
- Updated registered bank account (for withdrawing thru registered bank account with COL Financial.
I am withdrawing PHP 21,000 (partial withdraw) from my account and I take the following easy 5 steps:
Download the form to withdraw from COL Financial
On the dashboard upon log-in, look for the FORMS tab where you can download the form needed for withdrawal of funds.
On the FORMS page, keep scrolling down to find the form for withdrawal.
Download the REQUEST FOR WITHDRAWAL FROM from the “FROM NEEDED FOR WITHDRAWAL OF FUNDS”.
Please note that there might be an update with the form at the time when you download, so it might not be identical with the following form.
Print and Fill-up the form
Don’t be overwhelmed with the form as you only need to fill-up the important sections:
- Amount in Figures
- Amount in words
- COL Account No.
- Primary Account Holder (Please write PRINTED NAME on this section and your signature over the printed name)
- Payment Option : Check how would you like to collect your fund (Since I have BPI savings account registered to my COL account), I checked DEPOSIT TO REGISTERED BANK ACCOUNT
I recommend that you have registered bank account with COL financial for easy and fast transactions. TIP: There is an instruction on the form on how to change or update your registered bank account.
TIP: neatly fill-up the form; I erroneously put 2017 instead of 2018 on the DATE section. But instead of printing and re-doing the form, I just corrected it and indicate my signature.
Scan and Email the form
After filling-up the form, scan and email the form to the e-mail address indicated on the contact section of the COL financial withdrawal of funds form. Please don’t forget to attach the form to the email (I sent the form in JPEG format).
After sending the form, I instantly received an acknowledgement e-mail from COL Financial.
Received a Notice for the withdrawal fund from COL Financial
There are two notices that I received from COL Financial, RECEIPT OF WITHDRAWAL REQUEST and NOTICE OF DEBIT ADJUSTMENT.
Please not that I made the withdrawal request overseas, so there is a time difference.
Fund credited to my bank account
After receiving the e-mails from COL Financial, I waited for the fund to be credited to my bank account. And it was credited on my bank account on the same day.
Withdrawing fund from COL Financial is easy. Just follow the simple steps. I didn’t bother responding with e-mails from Col Financial for the withdrawal request as they didn’t ask for additional information. And I just waited for the fund to be credited to my bank account.
Please note that there might be some difference in some information or form (like the withdrawal form itself) from the time of writing.
Hope this post is helpful and please don’t hesitate to send me an e-mail for comments or suggestions.
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