There are 4 common reasons why your "cash available to withdraw" may be less than the "investable cash" amount or "total account value" amount you see on Grifin:
- Your account value may be mostly stock. Thus, you can't withdraw stock to a bank account...but here's how you can convert it to cash: Here's some quick Grifin math: Your stock value + Your cash = Your "Total Account Value." So, if your Grifin account "Total Account Value" says $100.00, but your "investable cash" says $5.00, then that means you have $95 worth of stock. Now, please note that you cannot withdraw stock shares to a bank's checking or savings account; they will not accept it. Thus, if you want to withdraw the $95 worth of stock you own to your bank, this can ONLY be done if you convert your stock to cash by selling some or all of your stock (depending on how much you'd like to withdraw). To do this, just click the "Sell" button on each of the company pages of the stocks you own (NOTE: Selling stock may have tax implications, please read this before selling stock so you're informed). Additionally, please note that it can take up to 5-7 business days for stock sales to FULLY process and for the cash proceeds to appear in your Grifin account - this is standard processing time across the investment industry.
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You recently sold stock for cash: United States regulatory requirements dictate a 2 full business day settlement period after the date that you sold stock shares on your Grifin account before we can transfer funds to your bank account. For example, if you sell stock on a Saturday, the cash proceeds from the sale may not appear until as late as Wednesday morning!
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You recently deposited cash from your bank to Grifin: United States regulatory requirements dictate a 6 full business day settlement period after new funds have been deposited into your Grifin account. This settlement period allows the banks to verify that the transfer has gone through successfully. For example, if you deposited $20 to Grifin on a Monday afternoon, you likely will not be able to withdraw that same $20 until the following Tuesday afternoon!
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You're trying to withdraw to a different bank account than the one you initially linked to Grifin: For up to 60 days after a deposit has been made, you will be unable to withdraw the funds to a different bank account than you originally deposited them from. This is a security measure that protects you against fraud. If your original bank account is closed or you are not able to access it, please email our Customer Support team directly at support@grifin.com, via the email address associated with your Grifin account. Note that you may be required to verify additional information due to KYC laws ("Know Your Customer") which help protect against fraud and impersonation.
If you have a reason to believe none of the above situations apply to your account, you can reach out to support directly by opening the Menu and clicking "Help Center" in your Grifin app.
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