Yes. As this is an investment in unit trusts, the shares within those unit trusts must be sold first before the cash value of them can be redeemed to you. As such, normal withdrawals take between 5 and 7 working days for the cash value of your investment to transfer to your bank account.
However, fraud is a common feature of those who cancel their TFIA’s and request 100% withdrawal of the cash value of their investments. To prevent the unlawful reversal of their investment allocations (Via debit order) while the cash value of their investment is being realised through the stock exchanges, on cancellation of your TFIA, the cash value of your investment will only be transferred to your bank account after 45 days. In addition, only 90% of your investment balance will be transferred to you, the remaining 10% will only be transferred after the 45 day waiting period with a further 5 to 7 days before the remaining 10% reflects in your bank account.