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Initiating Cash Withdrawals for Your Client

  • Updated

How to Initiate Cash Withdrawals for Your Client

  1. Log into app.zoefin.com
  2. Click "Transfers" on the left hand side
  3. Click "Transfer Funds" in the upper right hand corner
    1. You can also access the "Transfer Funds" button in the Household view of a given client or within the Account Details view for a specific account
  4. Search for the specific client, then click next
  5. Click "Cash Withdrawal"
  6. In the "From" dropdown, select the account your client would like to withdraw funds from
  7. In the "To," select the bank account your client would like the funds to deposit into
    1. If there is an existing ACH connection, the platform will default to this bank account. However, you can select any previously connected bank accounts 
  8. Input the withdrawal amount, click next
    1. If this is an IRA account, you will need to select the distribution type and any tax withholding information
  9. Review and submit the withdrawal for approval by your client
    1. At this point, your client will get an email prompting them to authorize the transfer. Your client can either follow the link in their email or log in directly to app.zoefin.com to approve. In their dashboard, they'll see a banner at the top of the screen prompting them to approve. Once they do, it'll be submitted to Apex

Please Note:

  • An ACH relationship must be established already or the client must have previously connected a bank account to the platform via our “Connect Accounts” process for you to be able to initiate a deposit.
  • If the withdrawal request is for more than what is currently available in cash, a liquidation request will get generated automatically. You will not have to manually submit trades. Please be sure if the account is not on auto-rebalance that you accept the proposal. If the account is on auto-rebalance, the liquidation will begin on the next trading day. The liquidation request will occur independent of your client approving the withdrawal request.

 

If you need any additional assistance, you can contact your Zoe relationship manager or the Zoe Client Success team at clientsupport@zoefin.com or 646-264-4449.

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