The standard two working day settlement period for a sale of stock is an inevitable part of processing every withdrawal from Nutmeg. See how long a withdrawal takes. Here we explain more about what a settlement period is and why it can affect you.
Settlement periods apply to the purchase and sale of stocks and shares on a stock market. For the exchange we trade on, this usually takes two working days.
If buying, once the stock has settled, the buyer takes delivery of the stock.
If selling, once the stock settles, the cash raised is made available to the seller.
For example, if we received a withdrawal request on Wednesday night and we sell shares on your behalf on the Thursday, and the following Monday is a bank holiday, we will receive the money from that sale on the following Tuesday.
It’s worth keeping settlement periods in mind when you want to withdraw funds, as it will invariably add a short delay.