Depending on when a deposit is made to your account, Corex requires approximately 7-10 business days to process, hold, and then invest the funds. This is a similar amount of time as it takes to transfer funds between external Canadian institutions.
The processing times for your investments can vary depending on the type of transaction:
| Transaction | Processing Times |
| Create a new account and make a first deposit | Up to 10 business days |
| Initial investment on deposited funds | 1-2 business days after deposit complete, including the holding period |
| Make a deposit for an existing account | Up to 10 business days |
| Standard withdrawal from an account | Up to 10-15 business days |
| Withdraw all funds from an account | Up to 10-15 business days |
The timelines for when the funds will clear and become available will depend on several factors including the type of transaction and the account the deposit is coming from. All deposits with Corex take 4 business days following their confirmation to be available to invest. A withdrawal or internal transfer will likewise not be available until the end of this clearing period. Additionally, please ensure all outstanding actions on your account are taken care of to avoid delays in processing.
Deposited funds should be available for action the day after they come out of the 4 business day holding period. For example, if a deposit was made on a sub-account, but then a withdrawal was made and an attempt to close that sub-account, you will need to wait until the deposited funds are out of the 4 business day holding period in order to withdraw the funds and close the sub-account.
External Transfer Timelines
Once we receive your request, you should see your funds liquidate from the transferring institution and appear in your Corex account within 8-12 business days. Depending on your transferring institution, the entire process can take up to 20 business days, though we see most occur much more quickly.
Disclaimer:
Corex Financial Inc. ("Corex") offers wealth management products and services to Manzil customers. Corex Financial Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Alberta, Ontario, Newfoundland and Labrador, and Quebec. Assets in your Corex accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). All trademarks are the property of their respective owners. Corex will determine what investments are suitable for you.
