How long do Pot withdrawals take?

How long do Save Pot Withdrawals take?

If you want to withdraw funds from a Pot to your bank account, you must first withdraw funds from the Pot to your Emma Wallet Available Balance.

You will only be able to withdraw funds from your Withdrawable Cash Balance, which is shown after clicking the Withdraw button on the Save section dashboard.

Depending on what type of Pot you’ve withdrawn the funds from, will depend on how quickly they can be sent to your bank account. Cash needs to settle before it can be withdrawn.

Easy Access Pot

If you withdraw funds from your Easy Access Pot to your Available Balance on a weekday before 10.30am, it will be possible to withdraw them to your bank on the same day.

If you withdraw from the Pot to your Available Balance after 10.30am or on a weekend, you cannot withdraw to your bank until the next working day.

The funds will show in your Available Balance once the withdrawal is requested, initially as Unsettled Cash. Once the cash has settled, you will see the funds in your Withdrawable cash after you click the Withdraw button on the Save section dashboard.

The withdrawals are processed around 6.30pm each working day so if you have withdrawn before 10.30am, please wait until this time or if you have withdrawn after 10.30, please wait until this time on the following working day.

45 Day Notice Pot

If you withdraw funds from your 45 Day Notice Pot to your Available Balance on a weekday before 10.30am, we will send the request to the bank the same day.

If you withdraw from the Pot to your Available Balance after 10.30am or on a weekend, we will send the request to the bank the next working day.

Your funds will show in your Available Balance during this 45 day period as Unsettled cash.

On the 45th day after the request has been sent to the bank, or the next working day if this is a weekend/bank holiday, you will be able to withdraw your cash. Your funds will show in your Withdrawable cash after 6.30pm when you click the Withdraw button on the Save section dashboard.

Instant Access Pot

When withdrawing funds from your Instant Access Pot to your Available Balance, you can then withdraw straight to your bank account on a weekday. Your withdrawal should reach your bank within 15 minutes.

Any withdrawal requested over the weekend or on a bank holiday will be sent on the next working day

If you have any further questions, reach out to us here ✍️

Updated on: 04/12/2024