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Written by Cari Scribner on March 16, 2022
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How To Transfer From Public To Webull 2023

Online investing platforms are constantly upgrading their features in hopes of attracting new members like you.

There’s nothing carved in stone that says you have to stick with the app you’re using now for any period of time, especially if you’re not happy with it.

Every platform offers its own suite of services, and by looking around, you can find the one that works best for you.

In this article, we highlight the steps to take if you decide it’s time to transfer from Public to Webull. 

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1. Gather Your Public Account Information

Public Logo

You can gather all the information you will need by looking at a recent account statement. To find your statement, follow the steps below:

  • When you are logged in, select your profile icon in the top left corner
  • Scroll down and tap Account settings in the bottom left corner
  • Move down to the Documents section and select Account Statements

This will give you your most up-to-date account information to determine if you are making a full or partial transfer.

When transferring from Public to Webull, you can actually directly transfer your assets without selling them off first.

  • Webull can do ACATS (Automated Customer Account Transfer Service) for transfers. They do not charge for ACATS transactions, however Public charges a fee of $75 for outgoing transfers, and you will need to pay that.
  • If you need it during the transfer process, the DTC code for Public’s clearing firm (Apex Clearing) is 0158.
  • If you are requesting a full brokerage transfer to Webull, your Public account will automatically be closed as part of that process by Public’s clearing firm.

Do you have Crypto?

  • If you hold cryptocurrency, note that it is not transferable to Webull via ACATS
  • Webull supports the following cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), Zcash (ZEC), Stella Lumens (XLM), and Ethereum Classic (ETC).
  • Public supports a similar list but are lacking a critical service in managing your crypto: wallets. A crypto wallet is an electronic place to store your cryptocurrency in a way that is more safe and secure.
  • Because Public does not have wallets available at this time, you cannot use the ACATS system. Instead, you will need to sell off the crypto in your Public account and use the cash to buy more in your new Webull account.

2. Open a Webull Account

In order to be eligible for a Webull account, you will need to meet the following requirements:

  • Be 18 years or older
  • Have a valid Social Security Number (not a Taxpayer Identification Number)
  • Have a legal U.S. residential address within the 50 states or Puerto Rico (there may be exceptions for active U.S. military personnel stationed abroad)
  • Be a U.S. citizen, U.S. permanent resident, or have a valid U.S. visa

To open a new Webull account:

  1. Go to Webull official website
  2. Click "Log In"
  3. Click "Sign up Now"

3. Complete the transfer in the Webull app

  • Tap on "Transfers" on the Webull account page
  • Tap on "Transfer Stocks into Webull"
  • Read the Transfer Tips and Tap on "Transfer Stocks to Webull"
  • Choose Webull as the broker to transfer from
  • Enter the information as prompted and click on the “Transfer Now” button

Transfer from Public to Webull: Conclusion

One of the benefits to you as an investor is to shop around and try out the many online platforms, most of which are tweaking their service menu on a regular basis to stand out among competitors. See what works for you, and if it doesn’t, move on.

Don't forget to grab your free stock worth up to $200 from Robinhood today!

Article written by Cari Scribner

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