How do I withdraw from investments?
You can instruct us to sell your investments (i.e. Sellout) at any time through the Plum app.
If you’d like to withdraw funds from your ISA (Individual Savings Account) or GIA (General Investment Account) you can do so by tapping Investments then scroll down and select a fund and then tap withdraw.
You can read more about how long it takes and the process here.
How many Sellouts can I have at a time?
You can withdraw from as many funds as you wish but bear in mind you can only have one sellout processing per fund at a time.
I got less than I requested
When you instruct Plum to sell your investment, we must pass this request on to the product provider. They will then sell the equivalent number of units corresponding to your request at the next trading cycle.
Because those units cannot be sold until the next trading cycle. it means the sale price of the fund isn’t yet known when you instruct us to sell for you. If the price moves up the next day, you will get more than when you asked to sell. If the price moves down, you will get less. In times of stock market stability this difference will only be slight though.
If you sell out your entire fund investment, the product provider will also charge their monthly fee on the units sold, for the amount of time that month you had funds invested. This is around 0.01% of the average balance of that month (0.15% annually), and will be reflected on your statements.
Can I cancel a Sellout request?
Sellouts are submitted to our partner fairly quickly. If you change your mind with requesting a sellout it is important you contact Support as soon as possible. You can do this by tapping Help in the app or emailing help@withplum.com.
Bear in mind it is not guaranteed that support can get it cancelled.