Automated Customer Account Transfer Service (ACATS): Stock Transfer Made Easy
By  •  February 11, 2024
Stock transfer is a somewhat complicated process, but it was made easy with the help of ACATS. But what is exactly ACATS? And why it actually matters for you, when you are trying to transfer stocks from one broker to the next? KEY TAKEAWAYS
  • ACATS eliminates the need for manual movement of assets with lower transfer fees and lower chance of error.
  • To use ACATS service, your brokerage firm needs to be a member of the National Securities Clearing Corporation (NSCC) and your bank needs to be a part of the Depository Trust Company (DTC).
  • ACATS is accommodating Stocks, Mutual Fund, IRAs, trusts, and brokerage 401(k)s transfer but not annuities, held with insurance companies.
Remember, while ACATS eliminates the need for manual movement of assets and transfer fees may apply, it offers a secure and standardized method to transfer your investment assets. What Is the Automated Customer Account Transfer Service (ACATS)? The Automated Customer Account Transfer Service...
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