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Written by Cari Scribner on May 18, 2022
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How To Transfer From TD Ameritrade To Charles Schwab 2023

Here’s a question: how satisfied are you with the online investing platform you are using right now?

If it’s not giving you all the bells and whistles you’re looking for, you have plenty of other options out there. What’s more, making a switch is easier than you may think.

Investing apps are vying for your business, so they are tweaking many of their services to make them more comprehensive, cohesive and even convenient.

Take advantage of this competition and check out new or established platforms that have enhanced their offerings.

In this article, we cover the process to transfer from TD Ameritrade to Charles Schwab, step by step. Let's jump right in!

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Transfer From TD Ameritrade To Charles Schwab

Transferring assets from TD Ameritrade to Charles Schwab is actually pretty simple. This is because both platforms support ACATS (Automated Customer Account Transfer Service).

This transfer takes just 3 steps:

  1. Open an Account with Charles Schwab
  2. Gather TD Ameritrade account information
  3. Initiate Transfer

Let's take a closer look at each of these steps.

1. Open A New Account With Schwab

Charles Schwab logo

One of the major advantages of the Charles Schwab platform is that there are no fees to open an account or transfer financial assets from other investing apps including TD Ameritrade. Also, there are no minimum amounts to start your Schwab account.

Transferring your Robinhood brokerage account to Schwab is as easy as opening the type of account that you plan to transfer. Most assets, such as publicly traded stocks and ETFs, mutual funds, and bonds can be transferred to your Schwab account.

When creating your new account, Schwab will let you choose where you are transferring funds from. Select Robinhood from the list.

As soon as you open your new account with Schwab, select "investment account transfer" as your funding option. Your Schwab account should be approved and ready to fund within five business days. Then you will be able to log in and follow the easy steps in the Transfers and Payments section.

You can start the transfer process in less than 10 minutes

2. Gather TD Ameritrade Account Information

TD Ameritrade Logo

All you need is the name of the firm holding your account(s) and your account number. To find your TD Ameritrade account number, follow the steps below or look at a recent account statement.

  1. Navigate to "Client Services" after logging in to your TD Ameritrade account
  2. Choose "My Profile"
  3. Click on "Personal Information"

3. Initiate Transfer

Transferring a brokerage account to Schwab is as simple as opening the type of account that you plan to transfer. Most assets, such as publicly traded stocks and ETFs, mutual funds, and bonds can be transferred to your Schwab account.

Once you have a Schwab account that is verified and approved, you can initiate the transfer by following the steps below:

  1. Navigate to "Accounts"
  2. Click or tap on "Transfers and Payments"
  3. Choose "Transfer Account"
  4. Search for "TD Ameritrade" in the search bar
  5. Select the type of account you have
  6. Type in your Fidelity Account Number
  7. Select whether you want to execute a full or partial transfer
    • If you select a partial transfer, you will have the ability to select which investments you want to move
  8. After finishing the prompts, you will need to consent to the terms and conditions and authorize the transfer.

When making a transfer of this kind, it is important that the name of the account matches. This will ensure smooth delivery of your assets.

An ACATS transfer from TD Ameritrade to Charles Schwab can take 5-16 business days.

Transfer From TD Ameritrade to Charles Schwab: Final Thoughts

With the long list of online investing platforms out there today, there’s simply no reason to stay with any of them that aren’t working well for you.

You have the choice to move some or all of your financial assets from TD Ameritrade to Charles Schwab, but keep in mind you will be charged by Ameritrade a transfer fee of $75 if you make a full transfer. As with other investing platforms, you do not need to stay with Schwab for any length of time, so if it’s not working for you, you can move on.

Executing this transfer is pretty simple. You just need to follow Charles Schwab's prompts.

Article written by Cari Scribner

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