Withdrawals from M1 Invest Accounts are subject to the following:
Settlement period: Before any funds can be disbursed to our users, all sales must settle. Settlement occurs on T+2 (Trade Date plus two trading days). Funds take two trading days after their sale to be available for disbursement.
Example: A withdrawal is requested on Thursday. Securities are sold on Friday and will generally settle on the following Tuesday.
Holding period: All new deposits to M1 Invest require a 6 business day holding period before they can be withdrawn to any external bank or M1 Checking. After 6 business days, the transfer to your bank begins.
Example: You deposit $500 into your account on Monday, the 1st of the month. A withdrawal of $100 after this will be held until Tuesday, the 9th, before the transfer to your bank begins.
Anti-Money Laundering (AML) regulations: All funds received from a banking institution can only be returned to that same bank for 60 days. For their first 60 days, funds received cannot be disbursed to a different bank than from where they originated.
M1 Invest Account to external bank account
This can take up to five business days. Funds will need to settle (see Settlement Period below) before the transfer can be initiated to your external bank account.
M1 Checking Account to external bank account
This takes between 2-3 business days from when your funds are available, or up to 6 business days. Once the withdrawal request completes in M1's systems, it can take up to one business day for the funds to be reflected by your bank account.
Once the withdrawal request completes in M1's systems, it can take up to 1 business day for the funds to be reflected by your bank account.
M1 Margin Loan to external bank account
Borrowing to your external bank usually completes within 2-5 business days and is subject to the settlement period, holding period, and AML regulation described above.
M1 Personal Loan
M1 Personal Loan disbursements should take about 1-5 business days to complete.
Please note: weekends, market holidays, and banking holidays do not count as business days.
If you have further questions, please contact us.