Meritz Securities Launches Immediate Withdrawal Service for Stock Sale Proceeds

Meritz Securities (CEO Choi Hee-moon) announced on the 19th that it will implement an immediate withdrawal service for sales proceeds to resolve the inconvenience of having to wait 2 business days after selling stocks before cash withdrawal and transfer are possible.

The immediate withdrawal service is an exclusive service for Super365 accounts, applying a ‘sales proceeds collateral loan’ method. Customers enter into an immediate withdrawal service agreement with Meritz Securities and borrow up to 98% of the stock sale settlement amount as collateral. Since the funds are borrowed in advance, interest for 2 business days (annual rate of 4.65%) is charged, and immediate withdrawal is possible within a limit of 50 million KRW. The loan amount received in advance is automatically repaid on the stock sale settlement date.

Unlike ‘stock collateral loans,’ which use stocks as collateral and carry risks such as forced sale due to collateral decline, Meritz Securities’ immediate withdrawal service is a very short-term loan product that is not subject to collateral management or forced sale. By applying for the agreement once through Meritz Securities’ Mobile Trading System (MTS) or Home Trading System (HTS), when withdrawing or transferring funds, loans are automatically executed within the sales proceeds for the amount exceeding the available withdrawal balance in the account.

A Meritz Securities official stated, “For beginners who open stock accounts and invest for the first time, they were sometimes caught off guard needing urgent funds because they did not know that cashing out was only possible after 2 business days following a sale. Now, customers using Super365 accounts can use their investment funds more smoothly after selling stocks through the immediate withdrawal service.”

Meanwhile, the ‘Super365 account,’ Meritz Securities’ non-face-to-face exclusive comprehensive investment account, has gained great popularity by surpassing 80 billion KRW in deposited assets within 6 months. As deposited assets rapidly increase, it has become Meritz Securities’ flagship account. Since the 12th, the daily compound interest rate on dollar deposits in the ‘Super365 account’ has been raised by 0.20% from 4.00% to 4.20%.