The time to cash out is upon us!

And yes, we know it can be a bit confusing at first for you newer 8Sharers out there.

Which is why I’m here today with a breakdown on 8Share’s cash out process!

First off, the entire process takes approximately 20 – 30 days.

cash out duration

 

I’m guessing this is your reaction right now:

kitten

 

Yes, 20 – 30 days is the usual waiting time.

Do let me explain the mechanics of it, it’s very simple only la.

Check out this summary of what goes on during a cash out:

cash-out-process

 

So from the visual above, we’ll move on to the stages of a cash out.

There are basically three stages during a cash out:

 

1. Pending

2. Verified

3. Completed

 

First off, we have the Pending stage.

 

This is when you click on the “Request to cash out now!” button and fill in your details.

Don’t forget, an IC number and it’s matching bank account may only be used once, and for only one 8Share account.

So, be extra careful when you fill in your cash out details!

Your cash out request will be in the Pending stage until we verify it along with all other cash out requests on the cash out date.

 

Next, comes the Verified stage.

 

This is when we, 8Share, and the bank start processing your cash out request.

We process all cash out requests received BEFORE a cash out date all-together in one batch ON the cash out date itself.

 

cash out batch

 

 

From verification, it will take 1 – 2 weeks for you to receive your money.

During this time, you will receive a statement from the bank.

Once you have, please wait around 2 – 3 days for the money to be transferred to your account.

 

Finally comes the Completed stage.

Your cash out’s status will only change to Completed once we’ve processed ALL the cash out requests in your batch.

Yes, all of them.

 

And there you have it.

The entire lowdown of our cash out process.

It’s pretty simple once you get the hang of it.

Now you can cash out to your heart’s content.

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And have no worries, if you’ve got any questions at all, you can always drop us a line using the “Talk To Us” button.

Hope this helped! :)