You can withdraw funds using Local Money Transfer in Singapore by accessing the Axi Mobile App, selecting a trading account, and completing the payment through the supported provider.

Eligibility & Requirements

1. Available only to residents of Singapore.

2. Supported currency: SGD only.

3. Withdrawal limits: Minimum 1,000 SGD to maximum 50,000 SGD.

4. A verified Singapore bank account is required.

5. A local bank account must be added and verified before it can be selected for withdrawal.

Local Money Transfer Withdrawal Rules

If funds were deposited using PayNow, your withdrawals will be subject to the Return to Source (RTS) policy. RTS is linked to Singaporean bank transfer methods based on your withdrawal amount:

• For withdrawals of SGD 1,000 and above: RTS is processed via Local Bank Transfer (SGD).

• For withdrawals below SGD 1,000: RTS is processed via International Bank Transfer (SGD).

Once the full deposited amount has been withdrawn and the RTS requirement is fulfilled, any remaining balance (such as trading profits) can be withdrawn using other available methods.

Steps to Add a Bank Account for Withdrawal:

Please refer to the article: How do I add a bank account for withdrawals using the Axi mobile app? Once added, proceed with withdrawals using Local Money Transfer (SGD).

Steps to Complete Withdrawal

1. Log in to the Axi Mobile App.

2. Tap the “Profile” icon in the top-right corner of the screen.

3. Select “My Accounts”, then tap “Withdraw”.

4. Choose the trading account for the withdrawal.

5. Enter the withdrawal amount.

6. Enter withdrawal value under the “Local Money Transfer (SGD)” refund tile and click “Continue”.

   
   Note: If the amount is lower than the current minimum limit, you can use an international bank transfer.

7. Choose the bank account from which you would like to withdraw funds and click “Continue”.

   

8. Review the details and click “Request Withdrawal” to submit the request.

   

9. The withdrawal request will be processed, and the funds will be credited within 1 to 2 business days.

10. Once submitted, the amount will be deducted from the trading account balance while the request is being processed.

    Note: If the withdrawal is unsuccessful, the funds will be returned to the account. You can track the request in the Funding History section of the Client Portal.