Understanding and Tracking Revoked IPO Amounts in Your Bank Account

When an Initial Public Offering (IPO) is canceled, any amounts that were temporarily held in your bank account for the purpose of purchasing shares may be revoked. This article provides a detailed guide on how to check for the revoked amount, including how to review your bank account statements, use online banking, contact your bank, check your brokerage account, and receive email notifications.

1. Checking Your Bank Account Statement

The first step in tracking the revoked amount is to review your most recent bank account statements. These can be accessed either online or through physical paper statements. Look for any transactions that indicate a reversal or refund associated with the IPO. Reversals or refunds are usually labeled to make it easier for you to identify them.

2. Using Online Banking

Log into your online banking portal or app to access your transaction history. Look for any entries related to the IPO, which may be labeled as a refund reversal or cancellation. This method is often the most convenient and offers real-time updates on your accounts.

3. Contacting Your Bank

If the amount has not been reflected in your statements, contact your bank's customer service. They can provide specific details about any holds or reversals related to the IPO. Providing them with the IPO date and your account information will help them identify the relevant transactions more quickly.

4. Checking Your Brokerage Account

If you used a brokerage account to participate in the IPO, check your account statements or transaction history within your brokerage platform. Brokers often provide detailed information on the status of IPO applications and the release of any released funds back to your account.

5. Reviewing Email Notifications

Check your email for any notifications from your bank or brokerage regarding the IPO cancellation and any associated refunds. These notifications are often sent to confirm the status of your application and to let you know when funds will be released.

Understanding the Time Frame

It is important to be aware that it may take some time for the funds to be released back to your account after the cancellation of an IPO. Typically, there could be a delay ranging from a few days to a week. If several days have passed and you still have not seen your money, it is reasonable to follow up with your bank or brokerage.

Additional Tips

Be mindful that during periods of high IPO activity, certain banks may not complete the revocation of mandates until the mandated end date. If you have not received the allotment of shares and want to request that funds be released before the end date, reach out to your bank. Regularly checking your account balance is also a good practice to ensure you know the status of any pending transactions.

Understanding the process of tracking and confirming the revoked amount is crucial to managing your finances effectively, ensuring you are aware of the status of your IPO application, and taking necessary actions to secure your funds.