Transfer Stocks Out of Your Robinhood Account

Please make sure you initiate an ACATS (Automated Customer Account Transfer Service) transfer. Please don’t request stock delivery using any method other than ACATS, including DTC and transfer agent transfers.

You might need to give the other brokerage your Robinhood Securities (RHS) account number. You can find this information in your mobile app:

1. Tap the Account icon in the bottom right corner.
2. Tap Investing.
3. Your account number will be at the top of your screen.

You may need to reference a DTC number for your transfer. Robinhood’s DTC number is 6769.

What happens after I initiate a full transfer?

After you initiate a full transfer, your account will be restricted to ensure the transfer is processed smoothly. You won't be able to make any trades on the assets being requested, including options in the underlying asset, while the transfer is in process, but keep in mind that you'll still own the securities or positions during this time, and they'll update in the app to reflect their current market value.

You may receive some assets during subsequent, residual sweep distributions. A residual sweep is the process of transferring any securities that may have remained in an account after completion of the initial ACAT transfer. Residual sweeps are common when you have unsettled trades or dividend payments at the time the ACAT transfer request is received. This process usually occurs on a weekly basis after the initial transfer is completed. You do not need to take any action to initiate these residual sweeps.

Please note that Cash Management and Robinhood Gold will be downgraded as a part of the full ACAT transfer process. If you decide to use Robinhood again, you won't be able to opt back into Cash Management at this time. You will, however, be able to resubscribe to Robinhood Gold.

What happens after I initiate a partial transfer?

After you initiate a partial transfer, your account assets being transferred will be restricted to ensure the transfer is processed smoothly. You won't be able to make any trades on the assets being requested, including options in the underlying asset, while the transfer is in process, but keep in mind that you'll still own the securities or positions during this time, and they'll update in the app to reflect their current market value. Once the partial transfer is complete, any remaining position will be unrestricted and you'll be able to resume trading of that asset.

from Hacker News https://ift.tt/36kXXQ9