Taking money out of a Smartfolio is called a divest, to distinguish it from withdrawing money to your bank account. When you divest, one or more sell orders are placed to raise the cash you requested.
If the market is open and your account has more than $30,000 in total equity, we submit those sell orders right away. Otherwise, they're held until the next trading day's market open (9:30am ET) as a safeguard around day-trading rules.
Once a sell order executes, it takes 1 business day (T+1) to settle. After all sell orders for your divest have settled, the cash moves to your general trading account and becomes available to withdraw to your bank.
To divest from a Smartfolio:
Step 1: Log into your iFlip app
Step 2: From your home screen, tap the Smartfolio you want to divest from
Step 3: Toggle to 'Divest'
Step 4: Enter the amount you want to divest, or tap 'Divest All' to divest your entire balance
Step 5: Tap 'Review Divest'
Step 6: Tap 'Submit Divestment' to complete your request