If you are looking to transfer US shares into your Pearler account, the process would depend on which broker you are transferring from.

If you are transferring from STAKE, please check out this article.

All Brokers based in Australia who offer US investing have a corresponding US Contra Broker who partners with them for US investing. Pearler's US broker is Drivewealth.

There are 2 Types of US transfers that US brokers accept - ACAT or DTC

ACAT

An ACATS is the most common transfer method used by brokerage firms because customers can transfer their entire account with only one form. The ACATS transfer method can be used to transfer stocks and cash (USD).

To use this method, an ACATs transfer form will need to be completed and returned along with a copy of your most recent account statement to us-shares-transfer@pearler.com. From there, we will review the form for accuracy and then send it off to our US broker for processing. ACATs transfers are free to process on our end. However, it would be best to check for any transfer out fees at your old broker that may apply.

DTC

A Depository Trust Company (“DTC”) transfer allows clients to transfer whole stock positions between brokers. The transfer of shares from one broker to another occurs electronically without the need to send physical stock certificates.

To process an incoming DTC transfer, you will need to complete a DTC Letter of Authorization and return it along with a copy of your most recent account statement to us-shares-transfer@pearler.com.

DTC transfers have a processing fee of $35.00 USD per holding. It would also be best to check for any transfer out fees at your old broker that may apply.

How do I know which option to use?

Not all US brokers offer both options. In order to find out which transfer method they allow, you will usually need to check with the other party. We've provided an email template below to make this process easier:

"Hi, I'm looking to do an ACAT/DTC transfer of my US shares out of (AUS/US brokers name), could you tell me what US Custodian holds my US shares? Also the contact email address and their DTC/ACAT clearing no. This is required in the form that I'm filling out with my new broker. Also please let me know if you accept ACAT transfers and if there are any fees for transferring out my US shares."

Both these options usually take 2 weeks to complete, although any errors in the information submitted can result in delays.

To help with filling out the form, you can find your Drivewealth account number via your Settings -> shares settings & dividends > US page.

Note: Only whole units (not fractional) of US Shares can be transferred.

For any further queries on US holding transfers or clarification on filling out the ACAT/DTC form please reach out to us on help@pearler.com