Save® customers can withdraw their deposits at any time during the term of their investment, but if you want to earn the maximum APY* possible, we ask you to leave your money with us for the full term of the investment.
Withdrawal requests will be fulfilled via an ACH electronic transfer to your linked bank account and will be completed within 1-2 business days of the initial request.
Any investment gains (minus our management fee and costs associated with early withdrawal) will be transferred to your linked account within 10-14 business days after the closing of the investment program related to the specific deposit that you have requested to withdraw. See the Save Advisers Client Brochure - Form ADV Part 2A for further details on the Market Savings Wrap Program and unwind costs associated with early withdrawal.
A withdrawal will be a closure to that specific investment program, and a return of its related deposit. You will not be able to partially withdraw deposit funds from an investment program.
If you close the only active investment program as part of your withdrawal request, you will close your Save account as well.
For any additional questions on your withdrawal request, please contact customer support.
Generally, an APY (or annual percentage yield) is the yearly return on a bank or investment account. Save Market Savings is a hybrid product and service that includes deposit account linked to an investment product. The deposit account portion of the Save Market Savings product and service is provided by Webster Bank, N.A., Member FDIC; and is non-interest bearing with a 0% APY. The investment portion of the Save Market Savings product and service offers the potential to earn an APY with a variable rate (Variable APY). The Variable APY, if any, is derived from the investments made by Save on behalf of the customer within Save’s portfolio of strategies over the duration of term length selected by the customer. The Variable APY, if any, will be equal to the cumulative return for the investments selected for you by Save for the term selected on the applicable maturity date. The Variable APY may be 0% but will never be less than the Minimum Variable APY of 0% per annum. Assuming a minimum Variable APY of 0% per annum, if the Variable APY applicable to a particular maturity date is less than or equal to the Minimum 0%, the customer will not receive any Variable APY return for that investment upon maturity. Variable APY’s are subject to change at any time. Variable APY is not guaranteed. The Variable APY presented is hypothetical in nature and reflects the potential growth that could accrue if the investment is held for the entire term selected. Variable APY’s are based on hypothetical back-tested performance in the Save Moderate Portfolio from 2006 to present and are shown net of fees. Hypothetical back-tested performance is no guarantee of future performance and actual results will vary. For more detailed information please see Hypothetical Back-testing.
The minimum deposit amount is $1,000 for the 1-year term and $5,000 for the 2-year and 5-year term. Deposits are FDIC-insured up to the maximum allowed by law, $250,000 per depositor, per bank. Management Fees associated with the investments may reduce earnings on the account. Customer withdrawal prior to maturity could result in additional associated costs.