Unit Trust

Redeem Fund

1. How do I redeem my Unit Trust fund in AmOnline?

Go to AmOnline app > tap “Account” > swipe left to “Investment”> tap on the individual Unit Trust account > scroll down to “My Portfolio” > Tap on the fund > Tap “Redeem”.

You can do a partial or full redemption in AmOnline.

From end of June 2024 onwards, redemption of unit trust will require AmSecure authorisation if the transaction amount exceeds RM 10,000.

2. Is there a minimum redemption unit in AmOnline?
Yes, partial redemption is subject to a minimum redemption of 100 units or such other quantity as the Bank may from time to time decide. Please approach the nearest AmBank branch for partial redemption lower than 100 units. There are no restrictions on the frequency of full or partial redemptions in a year.
3. Can I perform Switching or Transfer of Unit Trust funds on AmOnline?
No. AmOnline currently does not offer these features. You will need to visit your nearest branch or contact your servicing Relationship Manager or Personal Banker to perform these transactions.
4. How long does it take for the redemption amount to be credited into my Crediting Account?
This may take around 5 to 10 working days depending on the fund that was redeemed, as required by the Fund Management Company processing the redemption.
5. How do I know if my transaction has been processed or not?
  • You can check in “View Transactions” menu at your Unit Trust account. Go to AmOnline app > tap “Account” > swipe left to “Investment”> tap on the individual Unit Trust account > tap “View Transactions”.
  • You can check in “My Portfolio” where the balance of your Unit Trust fund will be updated accordingly once your transaction has been processed.

Transaction processing times are shown below:

  • Transaction before cut-off time: Processing complete after 2 business days.
  • Transaction after cut-off time: Processing complete after 3 business days.

For further checking, please call AmBank Contact Centre.

6. If I have any queries regarding the Unit Trust account, how can I seek assistance?
  • You may contact your servicing Relationship Manager or Personal Banker
  • You may visit the nearest AmBank branch.
7. Can I cancel a transaction made in AmOnline, and if so, how?

Yes. You can cancel your transaction submitted on the day before the cut off time. The cancellation of your transaction and the refund of your purchase amount would be effective immediately.

To cancel: Go to AmOnline app > scroll down to “Recent AmOnline Transactions” > tap on the redeem fund transaction > Tap “Cancel”.

8. Can I cancel a transaction made at the branch through AmOnline?
No, you cannot cancel via AmOnline any transactions made at the branch. However, once the branch transaction has been processed, it will be reflected in your Portfolio Summary and Transaction History in AmOnline. You will also be able to perform Top up or Redeem transactions for a fund that was bought in branch.

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