If you are a "retail client" you have an unconditional right to withdraw your application for shares made under a CSF offer within 5 business days of making the application. This is referred to as your cooling-off rights.
This period starts from the date of your application, and after it expires, your application becomes final and binding under the agreed terms.
A retail investor is someone who invests an amount under AUD$10,000 or less (per company per year).
You can exercise your cooling off right for any reason (i.e. change of mind). To exercise your cooling off rights, you must cancel your investment.
You will not be able to withdraw your investment application once the 5 business day cooling-off period expires.
Early withdrawal of funds is generally not permitted for CSF investments, as these are designed to be long-term commitments. However, you may consider transferring or selling your shares by finding a buyer and informing the company. The company may facilitate the transfer or sale through the share registry, subject to Board approval.
NOTE: A "wholesale client" who invests more than AUD$10,000 in a CSF offer does not have legal cooling-off rights and may not be able to cancel their investment application.
If you have paid the application money and exercise your cooling-off rights, we will return your application money as soon as practicable. If your investment application is cancelled or you have refunded funds in your Birchal Wallet, you can withdraw them to your linked bank account by following these steps:
Log in to your Birchal account.
Navigate to My Portfolio → Investments from the left-hand panel.
Select Withdraw.
The funds will be transferred to your linked bank account. For security purposes, your bank account number may appear partially masked. As long as your bank details are correct, the transfer will proceed normally.
Security Measures and Best Practices
Ensure that your linked bank account details are accurate to avoid any issues during the transfer process.
If you encounter any problems, consult the platform's help guides or contact customer support for assistance.
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