How does a custody account transfer work?

October 25, 2021  |  Scalable Capital
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Bringing securities from another custody account under one roof in the Scalable Broker - this is now possible without the paperwork.

If you want to bundle shares, ETFs and funds from another custody account in Scalable Broker, you can now start our digital custody account transfer. We show how your securities can be brought under one roof very easily and without the paperwork.

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Simply log in to the Scalable app or web and start the digital process under Profile > Products > Start Transfer.

In the next step, enter the name of the previous custodian and the custody account number.
A transfer can only be carried out if the transferred custody account is in your name. Joint or third-party custody accounts cannot be transferred.

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Now select the securities, including the number of units, that you would like to transfer to Scalable Broker.
Please note: Only whole number securities can be transferred, not fractional securities. In addition, only securities that are tradable in the Scalable Broker can be transferred.

Specify whether your entire securities account or only a portion should be transferred.
If you have an exemption order with the previous custodian bank, you can also instruct its cancellation in this step.

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And finally: Simply sign digitally and send the securities account transfer.

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Author Scalable Capital
Scalable Capital
Digital wealth management & broker with flat rate
Scalable Capital is a leading fintech in Europe that brings people and technology-based investing together. Scalable Capital offers digital wealth management and a broker with a trading flat rate. In digital wealth management, the company creates and manages globally diversified ETF portfolios for its customers with, if desired, sustainable investment strategies. The broker enables customers to trade shares, ETFs, cryptocurrencies, funds and derivatives themselves and to conclude savings plans.