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Written by Drew Cochran on April 22, 2022
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How To Transfer From Acorns To Public 2022

When it comes to our favorite investment apps, nothing beats free. But as any investment guru would tell you: paying for convenience will often cost you.

Acorns is a pretty sweet brokerage app that allows its users to "round up" on their regular purchases, investing the change. On the surface, it's pretty awesome: 'set-it-and-forget-it' investing. While there's definitely value to be had on the platform, some users don't care for its monthly subscription fee.

If you're looking to take more control over your investing habits, Public might be the right fit for you.

Public offers stock, ETF, and even crypto investing using an inclusive, educational social media style - You can see what moves experienced investors are making, and often learn why! The fact that Public is commission and subscription-free is just the cherry on top.

With so many finance apps out there, it can get confusing navigating new ventures. Today we're going to show you exactly how to transfer from Acorns to Public, step by step!

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How To Transfer From Acorns To Public

Moving your assets between these apps is pretty straightforward.

When transferring between Acorns and Public, you have some options: you can choose to keep your subscription active, or cancel your subscription entirely.

Step 1 will show you how to withdraw funds, and step 2 will show you how to close out your account.

Transferring From Acorns To Public:

  1. Withdrawing From Acorns
  2. Cancel Acorns Subscription
  3. Sign Up For Public
  4. Start Investing!

Now we'll go through all the finer details, to make sure you're not missing anything!

1. Withdrawing From Acorns

Acorns Logo

In order to transfer your investments to Public, you'll need to withdraw your current assets in Acorns first.

With Acorns, if you fully cancel your subscription, they will automatically sell off your funds and transfer them to your bank.

Just in case you want to keep using your Acorns subscription, the instructions for a regular withdrawal are below.

If you intend to cancel Acorns entirely, skip this step and start with Step 2!

Withdrawing From Acorns:

  1. In the main screen, select the account you want to withdraw from
  2. Press the "Withdraw" button
  3. In the pop-up, press "Continue to withdraw"
  4. Select amount you want to withdraw (5$ minimum)
  5. Confirm your withdrawal
  6. Repeat for each account you want to reinvest into Public

With Acorns, it takes around 3-6 business days for withdrawals to process.

2. Cancel Your Acorns Subscription

If you want to keep using Acorns for its easy passive investing, you can skip this step entirely.

However, keeping forgotten subscriptions around is a great way to lose money!

Here's how to cancel your Acorns subscription inside the app:

  1. Click the account icon at the top right of the main screen
  2. Click on "Settings"
  3. Select "My Subscription"
  4. Scroll to the bottom of the options list, and press "Cancel subscription"
  5. Verify in the pop-up by pressing "Yes, Continue"
  6. Click "Get Started"
  7. Leave feedback if desired, and press "Next"
  8. Press Cancel "Subscription"
  9. Verify one final time

After verifying, you are safe to log out and delete the app from your phone.

Again, it may take 3-6 business days for your funds to reach your bank.

3. Sign Up For Public

Public Logo

Now that we've moved everything out of Acorns, we can open your Public account.

Use this link when signing up for a free stock slice, on us!

  1. Download the Public app
  2. Click "Get Started"
  3. Provide your phone number and name
  4. Choose your username
  5. Provide your email address
  6. Create a strong password
  7. Choose to follow some new accounts
  8. Claim your free stock slice! (only works with referral link)
  9. Confirm your citizenship
  10. Submit photo ID for fast-track verification
  11. Provide birthdate and personal information
  12. Accept Terms & Conditions if you agree
  13. Fill out investment goals questionnaire
  14. Make your first deposit by Linking your Bank

It may take a couple days for your application to get approved.

4. Start Investing!

After your funds from Acorns have settled into your bank, you can start investing in Public.

How to Buy Assets In Public:

  1. Press the magnifying glass icon in the bottom left corner to "Explore"
  2. Type in the stock, ETF, or crypto you want to buy, and click on it.
  3. Press "Trade" in the bottom right
  4. Choose "Invest"
  5. Select amount you'd like to invest
  6. Click "Invest" button, and "Confirm" purchase
  7. Post about your investment to network with friends and contacts

Public is pretty interesting among brokerage apps, because it incentivizes the free flow of information between investors. You can learn about some stocks or crypto you might not have heard of before, or even investing principles from the pros!

Always do thorough research on a company, ETF, or crypto before choosing to invest.

Transfer From Acorns to Public: One Final Note

Be aware that by selling off your stocks you may have capital gains tax implications if you've made profit on your investment.

Because you're moving money out of a brokerage account, the IRS sees this as 'realized gains', which is taxable.

Is the world of investing still new to you? Check out our guide How To Invest In Stocks For Beginners here!

Article written by Drew Cochran

Platform Reviews

Power Your Investing

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Robinhood
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M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
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Fundrise
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
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