You can submit P&I withdrawal requests via the Settlement User Interface only using the SPP Return/P&I Withdrawal Request option, if you have activated this option. The SPP Return/ P&I Withdrawal Request screen shows the bank account eligible to receive wires of P&I funds from DTC on your behalf. To request a withdrawal, enter the amount of funds to be sent to the chosen bank account destination. You can enter P&I withdrawal requests on business days until 3:20 p.m. eastern time
Note- The total amount you withdraw cannot put you into a debit balance. You may withdraw your available P&I funds, (that is, the sum of all your P&I payments allocated to this account, less any previous P&I withdrawals) down to a zero balance. The minimum amount you can withdraw is $100,000.
The SPP Return/P&I Withdrawal Request option in the Settlement User Interface also allows you to view the status of your P&I withdrawal requests. You can view the following:
- Total P&I payments allocated to your account
- Total amount of funds requested
- Amount available for withdrawal (total P&I payments less previous withdrawals submitted)
- Total amount of funds that have been wired to your bank
- Total amount of withdrawal requests cancelled by DTC, if any.
P&I withdrawals are subject to Risk Management Controls and will not be permitted if your account will be put into a debit balance. Dropped items are recorded on your Drop report.
P&I Withdrawals that have successfully completed are reflected on your settlement statements as "funds transfer debit transactions" (Activity Code 95-3). DTC will provide you with a recap of your funds transfer activity.