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, an 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.