How to Close a Public Account

How To Delete a Public Account

If you have a Public.com account that you’re no longer using, it’s usually better to close it than to leave it sitting idle. Be sure to read our guide before getting started.

Avoiding Public.com’s Inactivity Fee

Public.com charges an inactivity fee of up to $3.99 per month for accounts with less than $70 in value and no activity during the last 6 months. If you don’t plan on meeting these minimums, it’s a good idea to close the account before the fee is assessed.

Avoiding Public.com’s Premium Fee

A Premium subscription at Public.com costs $10 per month. After trying it out, if you decide you no longer want the service, you can cancel it without closing the account.

Delete Public Account With ACATS Transfer

If you still need to close a Public.com account after considering the Premium service and the inactivity fee, it’s definitely possible. There are two options here: the easy way and the slightly more difficult way. We’ll start with the former.

One of the simplest ways to close a brokerage account at Public is to transfer it to another investment firm through the ACATS network. A full outgoing transfer will automatically close the Public brokerage account.

The only real drawback with this option is Public’s $100 outgoing ACATS transfer fee. There’s no way around the fee at Public, although some broker-dealers, such as , will refund other firms’ ACATS fees. So definitely check with the new brokerage firm on this issue.

If the transfer fee is acceptable, then the rest of the process is fairly straightforward. You will need, of course, to open an account with the new brokerage firm. The new account must have the same name on it and be of the same account type. If either of these two conditions isn’t met, the electronic transfer won’t go through.

With the receiving account open, it’s time to do a little prep work in the Public account. First and foremost, cryptocurrencies can’t be moved through the ACATS system, so any crypto positions will need separate attention. Public says crypto will remain in your Public account during a brokerage ACATS transfer, and you may need to contact support to liquidate it, keep it there, or transfer it out through a wallet transfer.

The second issue is fractional shares. Because the Public platform uses whole-dollar investing, there will inevitably be partial shares. These can’t be moved through the ACATS network, so they will have to be liquidated, either by Public or by yourself. Public will liquidate them if necessary when it receives the transfer request.

Ensure the receiving account has the same account type and owner name as your Public.com account.

Now it’s time for the transfer request. This will have to be submitted with the receiving firm, not Public. Most investment firms nowadays have very user-friendly transfer tools online, so reach out to the new broker. Once the request is made, Public will be notified, and the brokerage account will be closed as the transferable assets are moved over.

Second Method: Sell, Withdraw, Close

If an account transfer won’t work, there is always the old-fashioned method of draining the account and then closing it. And we do emphasize draining the account because a Public.com account can’t be closed unless it has a $0.00 balance.

First, sell all securities and cryptocurrencies and alternative investments in the account. Once these trades have settled, it’s time to withdraw the entire cash balance. This is easy enough to do on the website or mobile app. On the latter platform, tap on the menu icon in the upper-left corner, then scroll down and tap Withdrawal.

When the account has nothing left in it, it’s time to send a closure request to Public. This can be done on the mobile app or website. Go to the menu, tap Settings, then Help, and then Close account. Follow the instructions from there. A request to close an account can also be emailed to support@public.com.

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Cancel Public Account Fee

Public.com does not charge a separate fee simply for manually closing a brokerage account.

Public ACAT Fee (Transferring OUT)

Public account transfer fee (also known as ACAT fee) is $100. If you move your account to Charles Schwab, they will reimburse this ACAT fee (must be at least $10,000).

Public Wire Transfer Fee

Domestic wire transfers at Public.com have a $25 charge.

Updated on 4/7/2026.

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.