Typically, we only collect the investment funds for an investment after the cooling period has expired. However, in some instances we have collected funds for an investment and the funds must be returned, for instance if you have cancelled your investment.
In this article:
Cancellation Process - quick recap
The Refund process
Domestic Refunds & Birchal Wallet
1. The Cancellation Process
Checkout the Cancel my investment article to learn more how to cancel your investment. You can either cancel an investment yourself within your 5 day cooling off period or you must request a cancellation for your investment from the company who has issued the shares - but they are not obligated to grant this request. See why here.
To check on your investment and payment status - visit My Portfolio in Birchal and click on your investment.
2. The Refund Process
a. Domestic Refunds:
Once you have either manually cancelled your investment or the request for a cancellation has been approved (as reflected in your My Portfolio - see example below)
The funds are initially sent to your Birchal Wallet and made available for reimbursement. Login to see the amount. Note: we can hold the funds in the wallet and you can use this to invest in future investment offers.
Select 'Withdraw', and the funds will be dispersed to your bank account recorded in our system.
To collect the refund, you must have a bank account setup on the user profile (see below). The funds will auto-disburse to your account in a few days. Allow 7 business days to process the refund.
The entire refund process can take up to 7 business days (possibly longer for international refunds).
b. International Refunds
As you have been investing from outside Australia we will need some extra details to issue an International refund which will be processed manually.
We will need some additional details from you:
Bank Account number
SWIFT / BIC
IBAN (if applicable)
Routing number (if applicable)
Bank Account country
type of account: savings/personal?
You will be contacted by Birchal via email, once your refund is due.
Once we have received your details, we will be able to initiate the refund process, and the funds will be deposited directly into your bank account.
Please, allow 7 - 10 business days to receive the funds.
If you have additional questions, you can contact us at [email protected] .