To close your Roots account, you’ll need to follow a specific process, as your investment account must be fully liquidated before it can be deactivated. Here’s a general outline of the steps you should take:
1. Log In to Your Account
• Access your Roots platform by logging in with your credentials.
2. Liquidate Your Investment
• Before closing your account, you need to request a cash-out of your entire investment. This can be done through the ‘Investments’ tab.
• Note: If you decide to cash out within your first year of investment, a 6% early withdrawal penalty will be applied.
3. Wait for the Transaction to Process
• After initiating the cash-out request, there will be a processing period. The time it takes for the funds to reach your bank account may vary, but transactions typically complete within 4-5 business days.
4. Contact Customer Support
• Once your investment has been fully liquidated and the funds have been transferred to your bank account, reach out to Roots customer support to request the closure of your account.
5. Confirmation of Account Closure
• Roots customer support will guide you through the final steps of closing your account. They will also provide confirmation once your account has been successfully closed.
By following these steps, you can ensure that your account is closed correctly and that all funds are properly transferred. If you have any questions or need further assistance, please contact Roots customer support.