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Why do manual transfers take longer?

Manual transfers take longer because the paperwork has to be physically delivered, by fax, mail, or in some cases email, and then reviewed by the other firm's transfer staff. Funds are also typically sent by check rather than wire, which can add another 2 to 3 weeks depending on when the other firm sends it.

A few things can help speed the process along. It's worth checking with the delivering firm on the following:

  • Whether they require a Letter of Acceptance and/or a Medallion Signature Guarantee for outbound funds. We're able to provide either if needed.

  • Whether they accept transfer paperwork by email or fax instead of mail, and confirming details like the correct ATTN line.

  • Whether funds can be sent by wire instead of check. If so, we can provide our wire instructions.

  • Whether they can provide tracking for the check, since Public doesn't have visibility into USPS delivery.

For any questions, our team is available via in-app chat or email at support@public.com.

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