Requesting a Withdrawal Sample Clauses
The 'Requesting a Withdrawal' clause outlines the process by which a party can formally request to remove funds or assets from an account or arrangement. Typically, this clause specifies the required steps, such as submitting a written notice, providing necessary documentation, and adhering to any waiting periods or approval processes. Its core function is to establish a clear and orderly method for withdrawals, reducing misunderstandings and ensuring that all parties follow agreed-upon procedures.
Requesting a Withdrawal. (a) The Account Owner may request a withdrawal by submitting a request signed by the Account Owner.
(b) The Account Owner may direct the withdrawal to be made payable to the Account Owner, Beneficiary, or Eligible Educational Institution. The Account Owner also may direct Rollover Withdrawals.
Requesting a Withdrawal. (1) In order for us to process your withdrawal request, you must:
i) Request a withdrawal from the dedicated section of the client area on our website. Choose the "From" and "To" accounts;
ii) Select a Method of Withdrawal;
iii) Submit all compliance documentation requested by us and obtain approval from our compliance officer in order to proceed with the withdrawal.
(2) Beneficiary Name must match the name on the trading account. Requests to transfer funds to third party will not be processed.
(3) For verification of debit/credit card, the client must have made at least one deposit using the card and must have fully passed through the online fraud protection measures of the card processor. We cannot send funds back to an expired card.
(4) For verification of bank source, the client must provide a copy of the bank Statement clearly showing their address and account details (and if requested the document should be certified).
(5) If you have used a credit card to deposit money, the same credit card must be used to receive the proceeds of a withdrawal. However, the amount of withdrawal per credit card is typically only allowable (by the credit card company's own policies) to an equal amount of money deposited per credit card or less. Greater amounts must be wire- transferred to a bank account.