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Written by Drew Cochran on August 22, 2022
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How To Transfer From E*Trade To Public 2022

Public is a commission-free social investing platform where users can explore what high-profile investors, thought leaders in finance, and their friends are investing in, as a way to learn how to build wealth for themselves.

Alongside offering investing in fractional shares, Public is beginning to offer alternative assets their users can invest in; including bitcoin, NFT's, fine art, and collectibles.

Many E*Trade users are finding Public's features to be attractive, and are considering switching their mobile investing experience over to Public, though they may find themselves confused about the process.

Today we're going to show you how to transfer your investment account from E*Trade to Public step by step.

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How To Transfer From E*Trade To Public

Thankfully, transferring from E*Trade to Public isn't too complex - you just need to make sure you've got the right information.

The process involves copying down your E*Trade account type and number, signing up for Public, and transferring your account into Public within their app.

We'll be performing an Automated Customer Account Transfer Service, or ACATs for short.

When making ACATs transfers, you can only transfer assets between accounts of the same type. At this time, Public only allows for personal or individual "taxable" accounts. The generic investing accounts people would send money into after they've matched any 401k bonuses, and after they've maxed out their IRA's - nothing "tax-advantaged".

Taxable accounts are the most common kind of brokerage account mobile apps use, and it's likely you're investing with that account type inside E*Trade. As long as you've got stocks or ETFs in it, and it's not a retirement account, it's most likely the correct type.

Transferring From E*Trade To Public:

  1. Locate your E*Trade Account Info
  2. Sign Up For Public
  3. Transfer Your Stocks To Public

One More Thing: There's A Catch

ACATs fees usually cost money - the bank wants to keep your assets, so they charge you if you leave them for somebody else. With E*Trade, there's a $75 ACATs fee.

The good news is, if your account's value is worth over $150, Public will pay this fee for you.

If your account isn't worth $150+ yet, consider purchasing more stock inside your E*Trade before transferring.

Okay, let's get busy.

1. Locate Your E*Trade Account Info

etrade logo

First, let's grab your E*Trade information - specifically, your 8-digit account number and account type.

  1. Log in to your E*Trade account online.
  2. In the main screen under "Accounts", select "Complete View".
  3. Here you'll see your accounts listed with their name, and the last 4 digits of their account number. Select "Show Number" to reveal the full 8-digit account number.

Copy that information down securely for the transfer.

Now that we have your E*Trade account information, we'll finish everything else inside Public.

2. Sign Up For Public

Public Logo

Now that your E*Trade info is ready, we can open your new Public account.

Already set up with Public? Move to the next step below!

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

Applying to Public can take up to 10 business days to finish verifying, sit tight if it's not immediate.

3. Transfer Your Stocks To Public

Now that everything is set up, you can take your E*Trade account number, and use it to start your ACATs transfer inside your Public app:

  1. From the main screen, click the person icon in the bottom right corner
  2. Click the gear icon on the top right corner
  3. Scroll to the bottom of the page, and click "Transfer my stocks to Public"
  4. Enter your E*Trade Account Number, and click Next
  5. Enter your Public account info to confirm
  6. Select either "Full" or "Partial" transfer
  7. If only partially transferring, select assets to transfer

You can choose between transferring your whole account or just some of its assets. If you perform a full transfer, your E*Trade account will close.

Again, be aware that ACATs transfers cost $75 when leaving E*Trade, but as long as the value of your account is over $150, Public will pay those fees for you. If your account's value isn't there yet, consider investing more before processing the transfer.

This ACATs transfer will not incur any taxes for you, and may take several business days for the money to settle.

In Sum: Transferring From E*Trade To Public

ACATs transfers can seem very cryptic if you've never done one before; especially with all the different menus and updates all these different broker apps get.

However, as long as you remember to match the account type, copy down your account number, and learn what you need to do to avoid any fees - your future ACATs transfers will be like riding a bike.

If you're enjoying Public, be sure to spread the wealth and tell your friends about it!

Don't forget about your free stock slice either!

Article written by Drew Cochran

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