Automated Account Transfer Service (ACATS) can be used to transfer stocks, bonds, cash, mutual funds, mutual funds, options, and other investment products.
The system may be required when an investor wants to transfer his account from Brokerage Company A to Brokerage Company B.
Only NSCC eligible members and Depository Trust Company member banks may use the ACATS system.
Once the customer account information is properly matched and the receiving firm decides to accept the account, it will take approximately three days for the supplying firm to transfer the assets to the new firm. This is called the delivery process.
Some brokerage houses charge their clients an ACAT commission for transfers.