TD Ameritrade 300

Public.com Account Closing Fee, ACAT and Wire Transfer Fees. How To Delete Public App.


2022 Public investing app account closure fee. Cost and how to close brokerage or IRA accounts online. Public.com ACAT fee, address, wire transfer charges, deletion, canceling fees.


ACAT Fee For Transfers Into Public


Public does not charge any fees if you are transferring an account to them. You can use a promotion link below to open an account and initiate the transfer:


Open Public Account



Cancel Public Account Fee


Public does not charge account closure fees for both regular brokerage joint or individual accounts.


Public ACAT Fee (Transferring OUT)


Public account transfer fee (also known as ACAT fee) is $75. If you move your account to TD Ameritrade, they will reimburse this ACAT fee.


Public Wire Transfer Fee


Domestic wire transfers at Public.com have a $30 charge.


Public Top Competitors


Broker Review Promotion
Offer
Stock/ETF
Commission
Mutual Fund
Commission
Maintenance
Fee
Annual IRA
Fee
Ally Invest Up to $3,000 cash bonus + $0 commission trades. $0 $9.95 $0 $0
WeBull 6 FREE stocks valued $34-$12,600 give-away at Webull. $0 na $0 $0
TD Ameritrade $0 commissions + transfer fee reimbursement. $0 $49.99 ($0 to sell) $0 $0


How To Cancel Public Account


To close Public investing account, you first move your cash to your bank or another broker. If you have investments you can either sell them (you might face tax consequences in this case) or transfer to another broker. Then you email Public customer service and ask them to cancel your account.


Public Fees Comparison


In today’s cut-throat brokerage industry, $0 trades are now the norm. Some zero-commission brokers have lower miscellaneous fees than Public. For example, Fidelity charges nothing for an ACAT transfer. TD Ameritrade charges $25 to stop a payment and just $2 for paper statements.

E*Trade charges $25 for broker-assisted trades and $20 for overnight shipments.

Other zero-commission brokers offer more services than Public. For example, Ally Invest offers trading in options, mutual funds, and forex. And SoFi Invest offers IRAs and cryptocurrency trading.


Commission-Free Trading


Some brokers offer certain securities with no commissions. Several on-line firms, including E*Trade and Schwab, waive commissions for some ETF’s. In order to attract new customers, brokerage houses will offer commission-free trades for a specified amount of time, such as two months. There’s usually a limit on the number of free trades as well.


Downsides of Free Trades


If a broker is providing financial advice and making money off of commissions at the same time, there is automatically a potential conflict of interest. This situation isn’t necessarily illegal, but there could be an incentive for the firm to recommend a product that has a higher commission because it earns more from the trade.

Also keep in mind that a fund that is commission-free at a broker may be so because the fund has paid the broker to include the security on the broker’s list of commission-free products. The fund is not necessarily there because it’s a good buy. And it may have a high expense ratio to help offset the lack of a transaction fee.



About the Author
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.