By default, reinvestment of interest and principal is selected to be allocated to the Treasury account. If the Treasury account reaches $100, then a new Treasury purchase will be automatically initiated. You can choose to reinvest the proceeds into either the longest maturity treasury in their allocation for a ladder strategy or choose to reinvest into a similar type of treasury that just matured (e.g. if a 6-month bond matured, purchase another 6-month treasury).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 or Principal:
Follow the steps below to update where interest or principal payments are allocated to in App:
Open the Public app, scroll down and select ‘Treasury 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’ or ‘Reinvestment of principal
Select either ‘Purchase longest bond’’, ‘Purchase similar bond’ or Cash out to Brokerage’ from the drop down
Follow the steps below to update where interest or principal payments are allocated to on the web:
Login to to your Public account and select ‘Treasury Account’ located on the left hand panel
Select ‘Manage’
Select the blue link to the right of ‘Reinvestment of interest’ or ‘Reinvestment of principal
Select either ‘Purchase the longest bond’, ‘Reinvest in Treasury Account’, ‘Purchase similar bond’ or Cash out‘Withdraw to Brokerage’ from the drop-down
For further questions please contact Member Support via in-app chat or email at support@public.com.