Fee for ACAT Transfers to Acorns
Acorns does not charge a fee if you move your account to them. They will even
give you a $20 cash bonus. You can use the link below to open an account and start the
transfer:
Visit Acorns Website
Acorns Transfer Fee Coverage
Acorns does not cover transfer fees (ACAT fees) right now.
Charles Schwab does reimburse them.
Acorns Transfer Out Fee (ACAT Fee)
For outgoing ACAT transfers, Acorns charges a $50 fee for each ETF, as stated in their
"Program Agreement," to handle asset transfer requests (section 2.2).
The total Acorns ACAT fee for your transfer would be $250 if you have 5 whole ETF positions.
If you move your account to
Charles Schwab,
they will refund up to $75 of this ACAT fee (you must have at least $7,500 in your Acorns account).
You can also withdraw funds from your Acorns account to your checking account, and
you can re-invest them in another brokerage account if you want. There is no charge to
withdraw money.
To begin an Acorns ACAT transfer out, contact your other broker-dealer to
start the paperwork.
Acorns Securities needs the paperwork to include a medallion signature guarantee.
Acorns can only transfer whole shares through ACAT, as they mention in their
Program Agreement:
for processing asset transfer requests (section B5). The leftover funds will be sold and sent to your
linked checking account.
Updated on 2/7/2025.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
|