How do I withdraw money from my account?
You may withdraw money from your brokerage account to your multi-currency account (coming soon) 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 that 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. As an example let’s say you sent $250,000 to your US brokerage account in May 2020. In December 2020 you withdraw $300,000 back to India. Since you have already used your LRS limit for 2020-21, you can not remit money overseas till March 2021. You may remit up to $250,000 overseas again only in April 2021. Moreover, the money will be converted to INR when repatriated back to India (which means unnecessary charges if you want to convert it to foreign currency again). 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 2021-22 you will be able to invest another $250,000 in international assets, in addition to these $300,000.
You may find information on applicable withdrawal fees