Thank you so much for wanting to join the Public team and transfer stocks over from your old brokerage!
Due to a high number of transfer requests, our team is working around the clock to process your account transfer as quickly as we’re able. This may take a few days and we thank you in advance for your patience.
Our customer support team will notify you when your transfer is complete.
Why does this take a few days?
The process of transferring from one brokerage to another means that you can move your portfolio without selling anything and incurring a potential tax obligation. Our team manages each of these to ensure a smooth transition. We’ve received a high volume of requests as of late and we are working 24/7 to make sure your portfolio is transferred quickly and accurately.
What about fractional shares held in a different account?
Some fractional shares cannot transfer from one brokerage to the next. If your fractional shares are with an app that uses a clearing firm that is not the same as ours (Apex), those shares will be liquidated and will transfer as cash in your new Public account.
I have crypto holdings in my current investing app. What happens to those?
We’re working on a crypto offering and will let our members know as soon as it’s ready. In the meantime, you can proceed with a partial transfer in which you list out the securities (stocks and ETFs) you wish to transfer. You can also liquidate your crypto as part of a complete transfer, and those will appear in your new Public account as cash.
Please note: since cryptocurrency is not available to be transferred through an ACATS, some brokerages have introduced a liquidation policy, meaning your cryptocurrency would automatically be liquidated during the transfer process. If you do own cryptocurrency, we suggest initiating a partial transfer to avoid those holding from being liquidated.
How long does it take for my account to be approved?
Account approvals can take up to a few hours or more. If your account status is pending, please be on the lookout for an email from us, as we may require more information. Due to the extremely high volume of applications, we’re working around the clock to keep these moving as fast as possible.
If you ever have questions, the team is always here for you, so feel free to give us a shout on the app’s Live Chat or via email at firstname.lastname@example.org! 😁