Your account closure request may be on hold if you have US Stocks investments. The process depends on the type of restriction on your account.

If your account is temporarily frozen (Credit Freeze)

To allow you to close your US Stocks holdings:

• Your account will be temporarily unfrozen for 4–5 days.
• During this period, you should:
  
  
  1. Sell your US Stocks holdings.
     
     
  2. Wait for the sale proceeds to be credited.
     
     
  3. Transfer the funds from your Federal Bank Savings Account to another bank account of your choice.
     
     

Consent is required to proceed with selling your US Stocks when contacted.

If your account is fully blocked (Total Freeze)

If your Federal Bank Savings Account linked to Fi is fully blocked, funds from your US Stocks wallet cannot be credited to it. In this case, we can transfer the amount to another bank account.

A $50 processing fee applies for this transfer.

 Note: If your US Stocks wallet balance is less than $50, the transfer cannot be processed.

Details required

1. Alternate bank account details

• Account holder’s name
• Account number
• IFSC code
• Branch details

2. Proof of account

• Recent bank statement or cancelled cheque showing your name and account details
  

3. BIC code

• Required for international transfers (should match your bank’s home branch)

4. Your consent

 Written confirmation allowing deduction of the $50 processing fee and transfer of the remaining balance.

You may use this format:

I, [Full Name], authorize Fi to deduct the $50 processing fee and transfer the balance from my US Stocks wallet to the bank account shared by me.