How do I close an account?

We understand that sometimes you'll need to withdraw your funds and close your investment account(s); so, we're here to help.

Process

Regardless of your account type(s), you will need to complete the following steps to close it:

1. Withdraw all funds 
2. Cancel any scheduled deposits or withdrawals
3. Depending on your app permissions, either:
   a. Access the close account option within your account settings
   b. Submit a request to the Network Wealth support team to formally close your account(s)

If you wish to close your investment account(s) and deactivate your profile, please reach out to the Network Wealth support team to request this.

Please note that the payment(s) from your account will vary depending on the timing of the settlement of the sales of the securities within your portfolio. The liquidity schedules for each of our portfolios are provided here. 

Considerations

Please note that you can apply in the future to open the same type of account(s) that you closed, but your closed account(s) cannot be reopened.

If you wish to withdraw 98% or more of your account balance (or in the case of RRSPs, 98% + $30, whichever is more) - we will process it as a full withdrawal.

Network Wealth may retain account data for up to seven (7) years. This is in line with Network Wealth’s record keeping requirements under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations. To learn more, you can refer to our data deletion article.