Transfers

Our Transfers FAQ section is your guide for understanding how to transfer assets in and out of the BBAE platform. Please feel free to reach out to our team directly should you have any questions.

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How do I transfer securities from other brokers to BBAE?

There are various methods for transferring securities into your BBAE account, including ACAT and DTC/FOP transfers. Please confirm with your current broker which method they utilize. Below, you’ll find more information on these available transfer types.

ACAT: Most major U.S. brokers support ACAT transfers, and you can initiate them through the BBAE App. Log into the app, click on “Deposit”, then “Transfer”, and fill in the corresponding account information for your existing broker.

DTC/FOP: This type of transfer is initiated through your current broker. Many international brokers facilitate transfers using DTC/FOP. To begin the transfer, please get in touch with their customer support for assistance. They will forward your request to the BBAE team for processing.

For more details on transferring assets into your new BBAE account, please contact our customer support team. We are committed to making the transfer process as straightforward as possible, ensuring security, and adhering to regulatory standards.

What if my current broker is not listed in the transfer request drop-down menu?

If this is the case, please contact our customer support team at 1-800-950-5266. Our team will assist you in manually entering the name of your current broker and your account number to initiate the transfer request. Providing this information ensures that your transfer request is processed correctly.

How do I transfer securities from BBAE to other brokers?

Confirm with your receiving broker which of the following transfer methods they support:

  1. ACAT transfer: Initiate the transfer request from the receiving broker’s end. The receiving broker will coordinate with BBAE to complete the transfer.
  2. DTC/FOP transfer: Contact our customer support team to request an outgoing transfer form. Please fill it out and send it to (transfers@rbsecurities.com) for processing. Note: You can log into the BBAE app and click on Account and Help Center to contact our customer support team through online chat.

Ensure sufficient funds are in your BBAE account to pay for any outstanding fees or margin balances, as your request may not be processed otherwise.

Before initiating the transfer, confirm with BBAE the list of stocks, number of shares, and settlement dates to be included. Provide this information to your receiving broker.

For ACAT transfers, your positions and funds will automatically transfer from BBAE to your new broker. For DTC/FOP transfers, provide settlement instructions to request the delivery of stocks and funds from BBAE to the receiving broker. 

Please contact our customer support team if you have any other questions during the transfer process. We will work to help facilitate the timely transfer of your BBAE account assets.

How long does it take to transfer securities to BBAE?

Generally, it takes five to seven business days to complete the entire transfer process. Once you submit a request to BBAE, our team will process it within one business day. However, please note that the duration of the entire transfer process depends on various factors:

  • Current broker turnaround times: Service levels can vary between brokers, which may impact transfer times.
  • Account complexity: Accounts with options, margin, or large securities positions may require more time.
  • Accuracy of information: Ensuring that the correct account number, name, and positions are submitted can help minimize delays.
  • Requests for additional information: BBAE and your current broker may request additional documents or information. A prompt response to the requested information will help avoid potential delays.

We appreciate your patience throughout the transfer process. BBAE and your current broker are required to review and validate all account assets to ensure compliance before accepting or releasing your securities positions and funds. While we strive to complete transfers promptly, it is essential to conduct thorough compliance checks, which may take several days. BBAE will keep you informed about the status by providing updates throughout the process, from when we receive your request until it is completed. If you have any further questions about the status or timeline of your account transfer, please let us know.

What is an ACAT?

ACAT, or Automated Customer Account Transfer, is a system designed to facilitate the electronic transfer of securities between different brokerage firms. By automating the process, it not only simplifies but also significantly speeds up the transfer of assets between financial institutions. The use of an automated process brings numerous benefits that make ACATs the preferred account transfer choice for many.

How does the securities transfer process work?

The transfer process begins when the account holder submits a request to the receiving brokerage firm. After verifying the request, the receiving broker initiates an electronic transfer of eligible securities from the delivering brokerage. Generally, the process takes five to seven business days to complete. Customers should communicate with both brokerage firms to address any issues and be aware of potential transfer fees.

Why is additional documentation needed to complete my transfer?

There are instances where we may require additional documentation, such as your government-issued ID or brokerage statements, to fulfill your transfer request. These reasons may include verifying your identity, confirming ownership, preventing errors, maintaining records, and mitigating the risk of fraud and unauthorized access. Providing these documents ensures a seamless and secure transfer process.

Why was my transfer request rejected?

There are various reasons why a transfer may be rejected. These reasons can include the following:

  1. Ineligible Securities: Your request may have included securities (such as mutual funds or OTC stock) that are not eligible for transfer because they cannot be traded at BBAE.
  2. Insufficient Funds: There may not have been enough funds in your account to cover the applicable transfer fees charged by the sending broker.
  3. Negative Balance or Unsettled Trades: If you had a negative balance, an outstanding margin loan, or unsettled trades at the time of the transfer request, it could have resulted in rejection.
  4. Outstanding Obligations: If there are any unpaid fees associated with the transferring account, the sender broker may reject the transfer until those obligations are resolved.

Please feel free to contact our customer support team for further information about why your request was rejected. We are here to assist you.

What is BBAE’s DTC number?

The DTC number for BBAE’s wholly-owned broker dealer subsidiary, Redbridge Securities LLC, is 0158.

How can I cancel my transfer request?

For assistance in canceling a transfer request, contact both our customer support team and your current broker as soon as possible. Please be advised that depending on the transfer status, it may not be possible to cancel.

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How do I transfer securities from other brokers to BBAE?
What if my current broker is not listed in the transfer request drop-down menu?
How do I transfer securities from BBAE to other brokers?
Do I have to pay any fees to transfer securities to my BBAE account?
How long does it take to transfer securities to BBAE?
What is an ACAT?
How does the securities transfer process work?
Why is additional documentation needed to complete my transfer?
Why is my BBAE account restricted after I requested a transfer to another broker?
Why weren’t all my securities transferred into my BBAE account?
Why was my transfer request rejected?
What is BBAE’s DTC number?
How can I cancel my transfer request?

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