How to transfer stock into your Frec Portfolio Line of Credit

Transferring stock into Frec's Portfolio Line of Credit via a Plaid transfer

If you connect your external brokerage account using Plaid, your external brokerage firm’s security symbols and quantities for securities that can be transferred to Frec will automatically populate in the “Which stocks do you want to transfer?” page. You can get to this page by selecting the external brokerage account you connected with Plaid that you want to initiate an ACATS transfer from in the “Transfer” tab or the “Borrow tab.” Keep in mind, the securities and quantities provided with this connection may not reflect the current state of securities in your outside brokerage account. We encourage you to review your outside brokerage account against the populated list on our platform. Some transactions or cash deposits may not be reflected. Additionally, your securities in your outside account must be settled before you request an ACATS transfer of them.

Additionally, Frec automatically selects certain securities for you on the “Which stocks do you want to transfer?” page based on an even distribution of stocks having the highest LTVs. You can transfer whole shares of most stocks, ETFs, ETNs, and ADRs listed on the major U.S. exchanges from your external brokerage account into Frec. You may not be able to transfer all of the securities in your external brokerage account. You will be notified in an alert which symbols are unavailable for transferring. You are able to remove these selections or change them on this page before clicking “Review transfer and loan” to submit your request for an ACATS transfer. Once all the securities and quantity you want is selected and entered click the “Review transfer” button. Review the full transfer requested on the next page and if all of the information is correct click “Confirm transfer” to initiate your ACATS transfer request.

Please keep in mind the LTV is shown as of the date you are transferring, and the securities values shown are 15-minute delayed values and may change during the transfer process, which may fluctuate the full amount you can borrow. Additionally, the LTV can change if you have a concentrated amount of one security in your portfolio.

An ACATS transfer can take between 4-6 business days to fully complete. You can follow the status of your transfer on the home page of Frec’s platform.

Transferring stock into Frec via a manual transfer

If you connect your external account manually, you will be able to manually enter the security symbol and quantity of shares you want to transfer to Frec from your external brokerage account. You can get to this page by selecting the external brokerage account you connected with Plaid that you want to initiate an ACATS transfer from in the “Transfer” tab or the “Borrow tab.” You will then be taken to a page titled, “Which stocks do you want to transfer?”

On the “Which stocks do you want to transfer?” page you will be able to enter the security symbol and quantity you want to transfer to Frec. If you enter a symbol that is not supported by Frec, you will be provided with a warning letting you know we are unable to accept that symbol in an ACATS transfer. Additionally, you will need to review and confirm the symbols entered and quantity entered is accurate. The securities you request to transfer from an external brokerage account must be fully settled in your outside account and have the accurate quantity or the ACATS transfer request will be rejected. You can transfer whole shares of most stocks, ETFs, ETNs, and ADRs listed on the major U.S. exchanges from your external brokerage account into Frec.

Once you’ve selected and entered all of the securities and quantities you want to transfer click the “Review transfer” button. Review the full transfer requested on the next page and if all of the information is correct click “Confirm transfer” to initiate your ACATS transfer request.

You will also be able to see the LTV for each security you want to transfer over. Please keep in mind the LTV is shown as of the date you are transferring, and the securities values shown are 15-minute delayed values and may change during the transfer process, which may fluctuate the full amount you can borrow. Additionally, the LTV can change if you have a concentrated amount of one security in your portfolio.

An ACATS transfer can take between 4-6 business days to fully complete. You can follow the status of your transfer on the home page of Frec’s platform.