Account Closure Notice
1. Conditions to be fulfilled for closure of account
(a) Accounts with positions or cash balances cannot be closed. Before closing your account:
- Ensure that your portfolios are fully redeemed.
- Ensure that any instructions for recurring deposits of funds into your account have been cancelled.
2. Consequences of closing your account
(a) Provided that the conditions stated at section 1 above are fulfilled and you have not withdrawn your account closure request, your account will be closed after 90 days from our receipt of your instructions to close the account. The 90-day period is necessary to settle any possible future fees, dividends, interest, or corporate actions.
(b) Closing your account will result in the following:
(c) Please continue to monitor your account over the next 90 days and withdraw any credit balances resulted from dividends, corporate actions, or other situations.
(d) Any withdrawal of your request to close your account has to be communicated to us within the 90-day period. After that, your instructions will be irrevocable and irreversible. You may withdraw your request directly on the app in the “account closing” section.
(e) If you wish to use Syfe’s services again after your account is closed, you will need to go through the account opening process afresh.
(b) Closing your account will result in the following:
- You will no longer be able to access your Syfe account or use our services.
- The contractual relationship between you and Syfe pursuant to the client agreement will be terminated.
- You will not be able to retrieve any account information such as account statements after account closure.
- Due to Syfe’s various regulatory compliance and contractual obligations (such as those in relation to prevention of money laundering and countering of terrorism financing), information relating to your account and activities associated with it (“Account Information”) will be retained by Syfe. However, the closure of your account will be treated by us as a withdrawal by you of consent to any further collection, use, or disclosure of your personal data, subject to any applicable law.
- You will no longer receive any communications from Syfe. However, Syfe reserves the right to contact you when necessary (such as to return any cash balances, dividends, etc. belonging to you).
(c) Please continue to monitor your account over the next 90 days and withdraw any credit balances resulted from dividends, corporate actions, or other situations.
(d) Any withdrawal of your request to close your account has to be communicated to us within the 90-day period. After that, your instructions will be irrevocable and irreversible. You may withdraw your request directly on the app in the “account closing” section.
(e) If you wish to use Syfe’s services again after your account is closed, you will need to go through the account opening process afresh.
3. Reservation of rights
(a) We reserve the right not to proceed with the closure of your account if any of the conditions stated at section 1 above are not fulfilled.
(b) We reserve the right to claim from you (including after the closure of your account) any charges, fees, costs, and/or expenses payable and owing by you to us and/or our partners.
(c) In the event that there are funds which are deposited with us during and/or after account closure (whether by way of recurring deposit instructions, corporate actions, accrual of interest, or otherwise) which are not traceable or attributable to you with certainty, you acknowledge that such funds may be lost. If the funds may be traced or attributed to you with certainty, we reserve the right to charge administrative fees to process the return of funds to you.
(b) We reserve the right to claim from you (including after the closure of your account) any charges, fees, costs, and/or expenses payable and owing by you to us and/or our partners.
(c) In the event that there are funds which are deposited with us during and/or after account closure (whether by way of recurring deposit instructions, corporate actions, accrual of interest, or otherwise) which are not traceable or attributable to you with certainty, you acknowledge that such funds may be lost. If the funds may be traced or attributed to you with certainty, we reserve the right to charge administrative fees to process the return of funds to you.
Pronounced as
Sounds like life
Why the name Syfe?
In Japanese, the word Saifu means wallet and to be closely associated with our most important attribute - which is the word safe
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