If you’re considering closing your Vault before the term has fully matured, it’s important to be aware of two important things:
Closing your Vault will result in the loss of all accumulated returns
All funds in your Vault are subject to a 30-day cool-down period before being returned to your main SmartSaver account
The 30-day period begins on the date the closure request is confirmed and ensures compliance with Monefit's policies.
If you close your 24-Month Vault early, and you have Monthly Payments active, we'll calculate the returns you've earned up to the date of your closure request. This amount will be subtracted from your initial investment. The remaining balance will then be returned to your Main Account once the 30-day cooldown period has concluded. After the cool-down period concludes, all funds will be automatically transferred to your main SmartSaver account. The exact transfer date will be specified during the closure process.
Note: The 30-day period is calculated from the date of the closure request, and you will receive exact fund availability notifications during the process.
We encourage you to carefully consider the length of your Vault term before locking in your investment.
For instance, if you request to unlock your Vault on July 25, the funds would become available in your Main Account balance on August 24, following the 30-day period.
Step-by-Step Process for Early Vault Closure
Request an Early Vault Closure: Initiate the closure process by getting in contact with the Support Team
30-Day Cool-Down Period: Once the closure request is confirmed, a waiting period of 30 days begins. During this time, funds are held for processing.
Funds Transfer: After the cool-down period ends, your funds will be transferred automatically to your SmartSaver Main Account.
We also recommend that you read through the Vault Terms and Conditions, which you can find here. Understanding these terms is essential, as they outline important details regarding your investment, including your rights and responsibilities and any potential risks involved.
If you have any questions, don't hesitate to get in touch with us via live chat or email at [email protected], and we will be happy to assist you.