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How do I withdraw money from my account?
You may withdraw money from your brokerage account to your Winvesta Multi-currency Account (for free) or remit it back to your original bank account. To do so, go to the accounts section on the app and select ‘transfer/withdraw’.
Please Note:
Any money you remit back to India will need to be re-counted in your LRS limit if you wish to remit it overseas again.
For example, let’s say you sent $250,000 to your US brokerage account in May 2022, and in December 2022 you withdraw $300,000 back to India. Since you have already used your LRS limit for 2022-23, you can not remit money overseas till March 2023. You may remit up to $250,000 overseas again only in April 2023.
On the other hand, if you withdraw this money into your integrated Winvesta multi-currency account, you can reinvest it in any foreign asset. In FY 2022-23 you will be able to invest another $250,000 in international assets, in addition to these $300,000.
Any money you remit back to India will need to be re-counted in your LRS limit if you wish to remit it overseas again.
For example, let’s say you sent $250,000 to your US brokerage account in May 2022, and in December 2022 you withdraw $300,000 back to India. Since you have already used your LRS limit for 2022-23, you can not remit money overseas till March 2023. You may remit up to $250,000 overseas again only in April 2023.
On the other hand, if you withdraw this money into your integrated Winvesta multi-currency account, you can reinvest it in any foreign asset. In FY 2022-23 you will be able to invest another $250,000 in international assets, in addition to these $300,000.