DRS and DWAC transfers facilitate the direct movement of securities between a brokerage account and the issuer's transfer agent, differing from standard ACAT transfers used between brokerage firms. Before requesting a DRS/DWAC transfer, verifying eligibility with the plan holder or receiving institution is essential due to potential specific requirements and limitations.
Incoming DRS Transfers
To get started with an Incoming DRS/DWAC Transfer, we need a few things from you first:
1. Verify with your plan holder that you are eligible for either type of transfer
2. Provide a monthly statement for review (required for submitting the transfer) to our team
Please note there is a $115 fee per symbol passed through from Apex (our clearing firm). However, this fee is waived on incoming DRS/DWAC transfers for transfers valued at $5,000 or more. Additionally, a $125 rejection fee will be incurred for any discrepancies in account information.
Outgoing DRS Transfers
Please reach out to our Member Support team and provide the number of shares you would like to transfer and the underlying symbol. If you wish to proceed with this transfer type, there is a $115 fee per symbol and we suggest having that available in cash for the outgoing transfer.
You can contact our team via the in-app Chat or email us at support@public.com. We are always available to assist you.