What is debit card funding?
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Written by Sam
Updated over a week ago

Public has partnered with Wells Fargo and Braintree (a division of PayPal) to allow Public members to use a linked debit card to deposit up to $2,500 to their Public account to use to buy Stocks, Funds, and slices.

How to Connect Your Debit Card:

  1. Select the icon with 3 lines on it in the top left corner

  2. Scroll down and select Account Settings

  3. Scroll down and select Deposit Funds

  4. Select Debit Card to connect your debit card to fund your Public account

Please note that credit cards cannot be used to deposit funds to your brokerage account at this time.

Things to Keep in Mind:

  • If granted access to Debit Card funding, you can deposit up to $2,500 to your Public account using a debit card. The $2,500 limit applies to your Public account overall (not per debit card). The lifetime deposit limit is subject to change at any time without written notice.

  • Withdrawals will only be permitted to a linked bank account that matches the information on your Public account. If we are unable to verify that information automatically, you may be required to provide documentation (e.g., a bank statement) to verify your ownership of the bank account.

  • The First Name, Last Name, and ZIP code listed on your Debit Card must match the First Name, Last Name, and ZIP code on your Public account exactly.

  • If you are unable to link your debit card, please confirm that the name and zip code on your debit card (and associated checking account) match the name and zip code on your Public account. If you need to update your address on your Public account, please contact the Public Member Support team via chat in the app.

  • When a debit card charge is authorized by you, Public may offer you some portion of that deposit instantly as Buying Power.

  • All debit card deposits are subject to a 7 business day hold prior to being available for withdrawal.

  • Members are responsible for any overdraft and all fees associated with a returned, rejected or reversed transaction.

Additional Details:

  • Braintree and Wells Fargo securely handle all debit card deposits from your bank account to your brokerage account. Public has limited access and insight into the details of specific transactions. For additional information regarding your debit card transaction, please contact your financial institution.

  • Credit Cards cannot be used to deposit funds to your brokerage account.

  • Members are permitted to have one brokerage account at any given time and any attempts to open multiple account will result in the current and any future applications being rejected from membership.

  • If any debit card deposits are disputed at the issuing bank, Public will immediately restrict deposits, withdrawals, and trades in your Public account and will immediately withhold the disputed amount plus any applicable fees pending resolution. This may result in a debit balance and margin call on your account, which could result in the liquidation of any securities you hold unless new funds are promptly deposited to offset the debit balance.

  • If your transaction is declined by Braintree for any reason please refer to this guide on Declined Transaction for troubleshooting.

  • For more information on Wells Fargo and how they securely handle and maintain custody of funds during your transaction please visit their website at www.wellsfargo.com

  • To learn more about how Braintree helps securely facilitate your transactions please visit their Help Center

  • All debit cards transactions placed via Public to purchase securities are exclusively managed and handled by BrainTree and Wells Fargo.

  • These terms are subject to change at any time without written notice.

We’re always here for you if you have any questions, so feel free to give us a shout on the app’s Chat or via email at support@public.com.

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