By default, reinvestment of interest and principal is selected to be allocated to the bond account. If the bond account reaches $100, then a new bond purchase will be automatically initiated. You can update the interest and principal proceeds to be transferred to the brokerage account instead. Below are step-by-step instructions on how to update where the interest and principal proceeds are distributed.
Reinvestment of Interest:
Follow the steps below to update where bond interest/coupon payments are allocated to in App:
Open the Public app, scroll down and select ‘Bond Account’ which is located under the ‘Yield’ section.
Select ‘Manage’ in the top right corner
Select the blue link to the right of ‘Reinvestment of interest’
Select either ‘Reinvest in Bond Account’ or ‘Withdraw to Brokerage’ from the drop down
Follow the steps below to update where bond interest/coupon payments are allocated to on the web:
Login to to your Public account and select ‘Bond acct’ located on the left hand panel
Select ‘Manage’
Select the blue link to the right of ‘Reinvestment of interest’
Select either ‘Reinvest in Bond Account’ or ‘Withdraw to Brokerage’ from the drop down
Reinvestment of Principal:
Follow the steps below to update where bond principal payments are allocated to in App:
Open the Public app, scroll down and select ‘Bond Account’ which is located under the ‘Yield’ section.
Select ‘Manage’ in the top right corner
Select the blue link to the right of Reinvestment of principal
Select either ‘Reinvest in Bond Account’ or ‘Withdraw to Brokerage’ from the drop down
Follow the steps below to update where bond principal payments are allocated to on the web:
Login to to your Public account and select ‘Bond acct’ located on the left hand panel
Select ‘Manage’
Select the blue link to the right of ‘Reinvestment of principal’
Select either ‘Reinvest in Bond Account’ or ‘Withdraw to Brokerage’ from the drop down
For further questions, please reach out to member support via in-app chat or email at support@public.com.