Account Transfer by Substitute Delivery, Why Check Fees and Promotions First?

The only condition is that the stocks or ETFs to transfer must already be in your account.

Here are the three steps to check first when transferring accounts by substitute delivery.

→ 1. Confirm the stocks and quantities to move

→ 2. Check the receiving broker's fees and promotions

→ 3. Request substitute delivery at the original broker

Retail investor:

"Do brokers give you all your stocks for free when you move?"

They do not. You must check fees and promotion conditions carefully.

What do you need to prepare

You need a phone that can verify identity, a joint certificate or easy-auth app, and a list of the stocks and quantities to transfer.

A physical ID is generally not required, but check with customer service for exceptions.

How to check fees and promotions

Fees vary by broker, with some offers free and others charging fees.

Promotions such as 'substitute delivery fee refund' may be time-limited, so review notices and terms.

Fee and promotion notices are posted on each broker's app notice or event page.

Substitute delivery is the process of moving stocks or ETFs from one broker to another when changing accounts.

How to actually apply

→ Step 1: Open or confirm the receiving broker account number first.

→ Step 2: Find the 'substitute deposit (or substitute receipt)' application screen at the receiving broker.

→ Step 3: Enter the stocks and quantities to transfer on the receiving broker's screen or upload via Excel.

→ Step 4: The original broker will verify and release the assets after receiving the substitute delivery request.

→ Step 5: The receiving broker will notify you when the deposit is complete.

Menu locations differ by app, so open your account screen like My Stock Radar first.

Processing time and precautions

Processing time depends on the broker's operational hours and may take several business days.

Trading may be temporarily restricted during transfer due to settlement or other issues, so schedule in advance.

Confirm if transfer overlaps with settlement or dividend record dates, as entitlement may be affected.

Retail investor:

"I applied but it has not arrived after a month."

If that happens, contact customer service for 'substitute delivery status' and consider filing a dispute with the Financial Supervisory Service if necessary.

So what to start with

→ 1. Organize the stocks and quantities in Excel.

→ 2. Check the receiving broker's event and fee notices.

→ 3. Apply for substitute deposit at the receiving broker and wait for approval from the original broker.

Please use this as a reference.

PickStock 💡

※ This article is for informational purposes and is not investment advice.

※ Investment decisions and responsibility rest with the investor.

※ Figures are as of the time of writing and may change.

This article is for informational purposes and is not investment advice.