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Old 10-07-2020, 01:21 PM
 
150 posts, read 216,547 times
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Hi All! Id appreciate any clarification, as i cant remember to be honest

Ex. I sold a stock for 1k on 10/7 and the noted settlement date says 10/9

Does this mean on 10/9 (likely at 8am or 9am?) the 1k will be available to withdraw from my account?

Or is the process even longer? Ex. It settles within my account on 10/9, but you then have to wait say 1 business day after that for the funds to be available for withdraw?

Note: I understand it takes time to withdraw from the account and have funds available in the account the funds are being transferred to, but im asking specific to the account itself. Ex. If it says the settlement date is going to be on 10/9 for when i sold the stock on 10/7... then does that mean on 10/9 i can also request to withdraw the funds

Last edited by sixburgh90; 10-07-2020 at 01:31 PM..
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Old 10-07-2020, 06:06 PM
 
1,034 posts, read 1,229,383 times
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You would be able to withdraw at market open on 10/09 the settlement date. Thst was my experience with vanguard last year when I withdrew 15k after selling stock. I too thought it may be at COB on settlement date but it was at market open.
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Old 10-07-2020, 06:12 PM
 
150 posts, read 216,547 times
Reputation: 52
Quote:
Originally Posted by UntilTheNDofTimE View Post
You would be able to withdraw at market open on 10/09 the settlement date. Thst was my experience with vanguard last year when I withdrew 15k after selling stock. I too thought it may be at COB on settlement date but it was at market open.
I greatly appreciate you replying! As I couldnt find the answer online either. Thanks again and have a good one!
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Old 10-07-2020, 08:10 PM
 
23,017 posts, read 17,101,951 times
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Quote:
Originally Posted by UntilTheNDofTimE View Post
You would be able to withdraw at market open on 10/09 the settlement date. Thst was my experience with vanguard last year when I withdrew 15k after selling stock. I too thought it may be at COB on settlement date but it was at market open.
That’s not an accurate answer street wide. A firm can make the cash available at the end of the settlement day as well so market open isn’t the marker
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