Withdrawal
Withdrawals from the members Capital Contribution account shall at no time exceed ten times (10x) his/her fixed withdrawable CapCon. On a case-to-case basis, the association may restrict the withdrawals of certain individual member.
Withdrawal Process
- Submit duly accomplished and signed form to SESLA office or send to seslafrontline@sesla.com
- Amount available for withdrawal shall be any amount in excess of the fixed capital contribution ceiling of Php10,000.00.
- Daily cut-off time for withdrawal request shall be 11:00AM. A service fee of Php15.00 will be deducted from the withdrawal proceeds, regardless of the withdrawal amount.
The withdrawal proceeds will then be credited to the member’s designated bank account, via online bank transfer, within the day or the latest, the next business day.
If the withdrawal request is received beyond the cut-off time, it shall be processed the next business day.
For online bank transfers to BDO and UBP, no bank charge will be deducted.
- For online bank transfers to BDO and UBP, no bank charge will be deducted.
For non-BDO and Non-UBP accountholders, an additional Php50.00 charge will be deducted as convenience fee/bank charge.
- Capital Contribution Return – A member has the option to return the amount he has withdrawn within one (1) year from the withdrawal date.