Transferring money from your Wells Fargo brokerage account can seem a bit daunting at first, especially if you're new to managing investments. But don't worry, it's a straightforward process once you understand the different options and steps involved. This comprehensive guide will walk you through everything you need to know to move your funds safely and efficiently.
Ready to Access Your Investments? Let's Get Started!
Before we dive into the specifics, consider why you want to transfer money from your brokerage account. Are you looking to move cash to your linked bank account for spending, reallocate funds to a different investment, or transfer assets to another financial institution entirely? Understanding your goal will help you choose the most appropriate method.
 |
| How To Transfer Money From Wells Fargo Brokerage Account |
Methods for Transferring Money from Your Wells Fargo Brokerage Account
Wells Fargo offers several convenient ways to transfer money, primarily through their online platform and, for more complex situations, with assistance from a financial advisor or customer service.
QuickTip: Pause at lists — they often summarize.
- Online Transfers (ACH): This is the most common and often preferred method for moving cash between your Wells Fargo brokerage account and a linked Wells Fargo bank account, or even an external bank account. It's usually free for transfers within Wells Fargo and often for external ACH transfers as well, though the external bank might charge a fee.
- Wire Transfers: For larger sums or when speed is critical, wire transfers are an option. They are generally faster than ACH but come with a fee.
- Check Withdrawals: You can request a check to be mailed to you, though this is typically the slowest method.
- Account Transfers (ACATS): If you're looking to move all or some of your assets (cash and securities) from your Wells Fargo brokerage account to another brokerage firm, this is the process you'll use. This is often initiated by the receiving firm.
Let's break down the step-by-step process for the most common transfer types.
Step 1: Prepare for Your Transfer – Gather Your Information
Before you log in, make sure you have all the necessary details at hand. This will make the process smoother and prevent any delays.
Tip: Read actively — ask yourself questions as you go.
-
Your Wells Fargo Brokerage Account Information:
- Account Number: This is crucial.
- Account Type: Is it a WellsTrade, Intuitive Investor, or another type of Wells Fargo Advisors account?
- If you have a WellsTrade account, your "Brokerage Cash" number will be used for cash transfers.
-
Recipient Account Information (if transferring to another bank or brokerage):
- Bank Name: The full name of the receiving financial institution.
- Routing Number (ABA): This 9-digit number identifies the bank.
- Account Number: The specific account number where you want the funds deposited.
- Account Type: Checking or Savings.
- Account Holder Name: The exact name on the receiving account. Ensure this matches your Wells Fargo brokerage account name for seamless transfers, especially for external accounts.
-
Desired Transfer Amount: How much do you want to transfer?
-
Transfer Frequency: Is this a one-time transfer, or do you want to set up recurring transfers?
-
Desired Transfer Date: When do you want the transfer to initiate?
Step 2: Access Your Account Online
The easiest way to initiate most transfers is through Wells Fargo Online.
 |
-
Log in to Wells Fargo Online: Go to the official Wells Fargo website (wellsfargo.com) and log in to your account.
- If you haven't enrolled in Wells Fargo Online yet, you'll need to do so first. You'll typically need your WellsTrade account number during enrollment.
-
Navigate to the Transfers Section: Once logged in, look for a section or tab labeled "Transfer & Pay" or simply "Transfers." This is your gateway to moving money.
Step 3: Initiating a Cash Transfer (ACH)
This is the most common scenario, whether you're moving money to a linked Wells Fargo bank account or an external one.
QuickTip: Let each idea sink in before moving on.
Sub-heading: Transferring to a Linked Wells Fargo Bank Account
This is the simplest transfer, often processed instantly.
- Select "Transfer Money": Within the "Transfer & Pay" section, choose the option to transfer money.
- Choose "From" Account: Select your Wells Fargo brokerage account (e.g., your WellsTrade account, which might appear as "Brokerage Cash").
- Choose "To" Account: Select the Wells Fargo checking or savings account you want to transfer the money to.
- Enter Amount: Input the amount you wish to transfer.
- Select Frequency: Choose "Once" for a single transfer or set up "Recurring" transfers if desired.
- Choose Date: Select the date for the transfer.
- Review and Submit: Carefully review all the details. If everything is correct, click "Continue" or "Submit."
- Transfers between Wells Fargo deposit accounts and brokerage cash services are generally available immediately.
Sub-heading: Transferring to an External Bank Account (Non-Wells Fargo)
This requires a bit more setup if you haven't linked the external account before.
Tip: Summarize the post in one sentence.
- Select "Transfer Money": As before, go to the transfer section.
- Add Non-Wells Fargo Accounts (if not already added): You'll see an option like "Add Non-Wells Fargo Accounts" or similar. Click this to link your external bank account.
- This process typically involves verifying the external account, which might take 1-3 business days. Wells Fargo might send small "trial deposits" to the external account, which you'll need to confirm online to complete the linking process.
- Choose "From" Account: Select your Wells Fargo brokerage account.
- Choose "To" Account: Select the newly added or existing external bank account.
- Enter Amount: Input the amount you wish to transfer.
- Select Frequency: Choose "Once" or "Recurring."
- Choose Date: Select the date for the transfer.
- Review and Submit: Double-check all information, especially the routing and account numbers for the external bank. Click "Continue" or "Submit."
- Transfers to non-Wells Fargo accounts typically take a few business days to process after initiation.
Step 4: Considering Other Transfer Methods
While online ACH is often the easiest, here's when you might consider other options.
Sub-heading: Wire Transfers for Faster, Larger Transfers
Wire transfers are generally faster than ACH, often completing on the same business day if initiated by a certain cutoff time (e.g., 3:00 PM Pacific Time for Wells Fargo). However, they come with a fee.
- Sign On to Wells Fargo Online: Access your account as in Step 2.
- Navigate to "Wire Money": Within the "Transfer & Pay" menu, look for an option like "Wire Money" or "Digital Wires."
- Add Recipient Details: You'll need to provide comprehensive information for the recipient, including:
- Recipient's Name and Address
- Recipient's Bank Name
- Recipient's Bank Routing Number (ABA) for domestic wires, or SWIFT/BIC code for international wires.
- Recipient's Account Number (and IBAN for some international transfers).
- You might need a valid U.S. mobile number or secure ID device to authorize wire transfers.
- Select Funding Account: Choose your Wells Fargo brokerage account as the source of funds.
- Enter Amount: Specify the amount to be wired.
- Review and Send: Carefully verify all details, as wire transfers are difficult to reverse. Confirm and send the wire.
- Be aware of the fees associated with wire transfers. Wells Fargo typically charges a fee for digital wires (e.g., $25) and higher for branch wires (e.g., $40), though fees might be waived for certain eligible accounts.
Sub-heading: Requesting a Check Withdrawal
If you prefer a physical check, you might be able to request one directly from your Wells Fargo brokerage account. This is usually slower than electronic transfers.
- Contact Wells Fargo Advisors: You'll likely need to contact Wells Fargo Advisors customer service directly by phone or secure message to request a check withdrawal. This option might not be available directly through the online transfer interface.
- Provide Details: Be prepared to provide your account information, the amount, and the mailing address for the check.
Step 5: Transferring Your Entire Brokerage Account (ACATS)
If your goal is to move your investments (both cash and securities) to another brokerage firm, you'll generally initiate this process with the receiving brokerage firm, not Wells Fargo. This is known as an Automated Customer Account Transfer Service (ACATS).
- Open an Account at the New Brokerage: First, open a new brokerage account with the firm you want to transfer to. Ensure the account registration (e.g., individual, joint, trust) at the new firm matches exactly with your Wells Fargo brokerage account.
- Initiate the Transfer with the New Firm: Contact the new brokerage firm and inform them you want to transfer your account from Wells Fargo. They will provide you with their specific "Account Transfer Form" or "ACATS Form."
- Complete the New Firm's Form: Fill out this form accurately, providing all the requested details about your Wells Fargo brokerage account, including the account number and account type. You'll specify whether you want a full transfer (all assets, including cash) or a partial transfer (selected assets).
- Be aware that fractional shares of equities may not transfer in kind and might be liquidated. Also, some proprietary funds or money markets might need to be liquidated before transfer.
- Submit the Form to the New Firm: Send the completed form to your new brokerage firm. They will then send the request to Wells Fargo to initiate the transfer.
- Allow Processing Time: Full ACATS transfers can take anywhere from 5-7 business days, while partial transfers might be quicker (around 3-5 business days). Neither Wells Fargo nor the receiving firm typically charges a fee for an ACATS transfer, but it's always good to confirm with both institutions.
Important Considerations and Tips
- Brokerage Cash Services: Many Wells Fargo brokerage accounts, especially WellsTrade and Intuitive Investor, come with "Brokerage Cash Services." This feature integrates your brokerage account with Wells Fargo Online's transfer capabilities, making online cash transfers much easier. If your account doesn't have this, you might have limited online transfer options and need to contact a financial advisor.
- Fees: While Wells Fargo typically doesn't charge for ACH transfers, always review the fee schedule for wire transfers and check with any external banks for potential incoming transfer fees.
- Cut-off Times: Be mindful of daily cut-off times for transfers. If you initiate a transfer after the cut-off, it will generally be processed on the next business day.
- Business Days: Transfers are processed on business days (Monday-Friday, excluding federal holidays).
- Pending Transactions: Be aware that pending deposits or withdrawals on your account might affect the available balance for transfer.
- Account Statements: Keep your monthly statements handy as they contain all your account numbers and other essential information.
- Customer Service: If you encounter any issues or have questions, don't hesitate to contact Wells Fargo Advisors customer service.
- For WellsTrade accounts: 1-800-TRADERS (1-800-872-3377)
- For Full-Service Brokerage (with a Financial Advisor): 1-866-281-7436
- General Banking Customer Service: 1-800-869-3557
By following these steps and keeping the considerations in mind, you can confidently transfer money from your Wells Fargo brokerage account whenever you need to!
Frequently Asked Questions (FAQs)
How to transfer money from Wells Fargo brokerage to a Wells Fargo bank account instantly?
- You can typically transfer money between your Wells Fargo brokerage account (especially if it has Brokerage Cash Services) and a linked Wells Fargo checking or savings account instantly through Wells Fargo Online or the Wells Fargo Mobile app.
How to transfer money from Wells Fargo brokerage to an external bank account?
- Log in to Wells Fargo Online, navigate to "Transfer & Pay," and then select "Add Non-Wells Fargo Accounts" to link your external bank account. Once linked, you can initiate ACH transfers from your brokerage account to the external account.
How to find my Wells Fargo brokerage account number for a transfer?
- Your Wells Fargo brokerage account number can usually be found on your monthly account statements, by logging into Wells Fargo Online, or by contacting Wells Fargo Advisors customer service.
How to initiate a wire transfer from a Wells Fargo brokerage account?
- You can initiate a wire transfer by logging into Wells Fargo Online, going to the "Transfer & Pay" menu, and selecting the "Wire Money" option. You'll need the recipient's bank details, including routing number (or SWIFT/BIC for international wires) and account number.
How to transfer investments (stocks, ETFs) from Wells Fargo brokerage to another firm?
- To transfer investments, you'll typically open an account at the receiving brokerage firm and then initiate an ACATS (Automated Customer Account Transfer Service) transfer with them. They will provide the necessary forms to move your assets from Wells Fargo.
How to set up recurring transfers from my Wells Fargo brokerage account?
- When initiating a transfer through Wells Fargo Online, after selecting the "From" and "To" accounts and the amount, you'll usually have an option to choose the frequency, allowing you to select "Recurring" and set up a schedule.
How to check the status of a money transfer from Wells Fargo brokerage?
- You can check the status of your transfers within the "Transfer & Pay" or "Activity" section of Wells Fargo Online or the Wells Fargo Mobile app.
How to cancel a pending money transfer from Wells Fargo brokerage?
- For transfers dated today, you generally cannot cancel them once submitted. For future-dated or recurring transfers, you may be able to edit or delete them within the "Scheduled Transfers & Payments" section of Wells Fargo Online or the mobile app, typically until 11:59 PM Pacific Time the day before the scheduled transfer.
How to add a non-Wells Fargo account for transfers from my brokerage account?
- Within the "Transfer & Pay" section of Wells Fargo Online, look for an option to "Add Non-Wells Fargo Accounts." You'll typically need to provide the external account's routing number, account number, and confirm small trial deposits for verification.
How to get help with a complex transfer from my Wells Fargo brokerage account?
- For complex transfers or if you have questions not covered online, it's best to contact Wells Fargo Advisors customer service directly via phone or secure message.
 |
