Account Transfers Between Schwab and Acorns
You can move a brokerage account from Charles Schwab to Acorns or from Acorns to Schwab, but you must follow a specific process. Acorns does not accept or send ACAT transfers, so you need to use another way in either direction.
Transfer an Account from Charles Schwab to Acorns
First, open an Acorns account.
Acorns only takes cash transfers. It will not take securities through DTC, ACAT, or any other channel. Because of this, you must sell everything in your Schwab account and turn the holdings into cash before the move.
Selling investments in a taxable account can create taxes, and pulling cash from a tax-advantaged account can do the same. Talk to a licensed tax professional before you proceed.
After the Schwab account is all cash, move the money to a linked checking or savings account. Stock and ETF sales need a couple of business days to settle before the transfer can start.
When the cash is ready, open the More page in the Schwab mobile app (More is in the bottom menu), choose Transfers & Payments, tap Transfers, and fill out the form to send money to the linked bank account.
If no bank account is linked yet, add one on the Schwab website. The mobile app cannot add links.
When the money reaches the bank, send it to your Acorns brokerage account, which should already be open. Use either the mobile app or website to set up a one-time deposit or a recurring deposit.
Once the cash is in Acorns, the platform’s automated tool will put it into a mix of low-cost ETFs.
Open Acorns Account
Open Acorns Account
Transfer an Account from Acorns to Charles Schwab
Moving money the other way takes a different route if you want to keep your ETFs. You can move the ETFs into a self-directed Schwab account, but a Schwab robo account can only take cash.
A non-ACAT transfer from Acorns lets you move securities into a self-directed Schwab account, but it is not simple. Follow these steps:
(1) Open a Charles Schwab account.
(2) Contact Schwab and ask for a non-ACAT transfer from Acorns. This requires paper forms.
(3) Get a medallion signature guarantee on the forms at a local financial institution.
(4) Send the completed forms to Acorns by email (help@acornssecurities.com) or mail:
Acorns Securities
ATTN: Account Transfers
5300 California Ave, Bldg 1
Irvine, CA 92617
After Acorns receives the paperwork, it will email you for confirmation. If you do not reply, the transfer will be canceled.
Only whole shares can move out of Acorns. Fractional shares are sold for cash, and that cash will go to your linked bank account.
If you prefer a Schwab robo account, you will need to liquidate the entire Acorns account to meet Schwab’s cash-only rule. Selling everything removes the paperwork of a non-ACAT transfer but can still create taxes.
Free Charles Schwab Account
Open Schwab Account
Possible Cost of Switching
Schwab does not charge commissions for most U.S. stocks and ETFs, but selling other assets can cost money. You may also pay for the medallion signature guarantee.
How Long Does an Account Transfer Take?
A transfer from Acorns to Schwab can take a few weeks because of the paperwork. Going from Schwab to Acorns can take a similar time because you must sell assets, wait for settlement, move cash to a bank, and then send it to Acorns.
Updated on 4/28/2025.
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