 Unbelievable What's up money geeks mr. V here welcome to another video guys so in today's video We need to do kind of a follow-up to a video that I did a while back on transferring your assets from Robin Hood to Weibo so after that video I have been getting a ton of questions from people Trying to figure out certain things so this is kind of a follow-up video to that one Which are more detailed as to some of the questions that I was getting so just gonna compile those questions and then provide The answers in this video so before we get started guys if you're new to the channel We'll check about how to earn money how to save money how to invest and build wealth So if that's something that interests you go ahead and hit that subscribe button and your notification bell So you don't miss out on new content and also the video I'm talking about that I did transferring from Robin Hood to Weibo. I'm gonna hook it up here So you can definitely go check out that video if you haven't already so Again, some of these questions are you know stuff that I've gathered from people in the comments section So we're just gonna go through it and answer and even some of the questions I think that people might be looking for answers for money include them in this So let's jump right in and answer some of this question So first question is what does Weibo charge for transferring your assets from let's say Robin Hood to Weibo? In this case Weibo Doesn't really charge a fee if you have over two thousand dollars in your portfolio Weibo would actually give you You know a free Transfer you might be charged by the outgoing broker which in this case Let's say if you're using Robin Hood Robin Hood might charge you but Weibo would cover that charge for you up to I think about $75 so that is very simple. So if you have over two thousand dollars Your charge would be free and then I think For you to transfer asset you should have at least five hundred dollars. So anything over five hundred dollars Weibo recommend that you liquidate and then come buy in Weibo Otherwise if it's over five hundred dollars and you can request a transfer but If they charge you the seventy five dollar transfer fee out of let's say Robin Hood That's on you. Weibo doesn't cover that but if you have over two thousand dollars in the asset Weibo would cover your transfer fee for you. So that's something to keep in mind next question is that What kind of securities can I transfer to my Weibo account? So in this case, hey, you're thinking like hey Can I transfer every stock in my portfolio? The the simple answer to that is no Only stocks that are listed in the US stock market are transferable to Weibo So if your stock is not listed in the US stock market Then that asset particularly would not would not be transferred. So The best way for you to find out is that you if you have a stock in your Robin Hood portfolio You go over to Weibo and go in there the search bar and type in the ticker symbol for that particular stock And when that ticker symbol shows up see if you have the Trade option the trade button if the trade button shows up. It means that stock is transferable and then you can transfer that stock So again, simple question to the answer is that not all stocks are transferable to Weibo So only stocks listed in the US stock market are transferable. Next question is how long Does the stock transfer takes? the transfer takes between five to seven business days and Weibo recommends that after Seven days if you don't see your asset in your portfolio in Weibo then give them a call means something Something didn't go right. Give them a call and they would figure it out They're usually pretty good at responding to calls in or just contact them in the Weibo app Now go on the contacts and you should able to just send them a message there and they'll get back to you So between five or seven business days is when you should have assets back in in your Weibo account So the next question again here is what types of transfer are available? So in transferring your stocks from let's say Robinhood to Weibo, you get two types of transfers You have what you call a partial transfer, which means that you're probably requesting that only certain stocks or Your cash value get transferred or you have a full transfer, which it's you're transferring pretty much Everything so your entire portfolio of stocks that are transferable would be transferred over to Weibo Next question is can I transfer? Stocks from a cash account to a margin account Or a vice versa. Yeah, usually Weibo recommends that you transfer Cash to cash and margin to margin if you're transferring from a cash account to a margin account From what we will say is that you're gonna get delayed in the process. It might even end up being canceled So don't transfer. So if you want to go from No, from your cash account in Robinhood to a margin account in Weibo That might be an issue. You have to call on Weibo to figure that one out or You can convert your account from a margin account to a cash account Let's say in Weibo transfer and then convert it back to a margin account That would be the way to go or you can convert your margin account in Robinhood to a cash account and then transfer it into a Emerging into a cash account in Weibo. So that's another way to approach it. Next question How can you cancel a stock transfer request in Weibo? Let's say you're putting your request There you change your mind like up. I don't really want to do this You have about 30 minutes from the time you submit your request to cancel it after 30 minutes Once Weibo says reviewing and processing your request. You cannot cancel it Unless if you get lucky your request gets rejected and then that obviously leads to a cancellation Otherwise once after 30 minutes There's nothing you can do. It's the request is gone. Next question. Why is my stock transfer request still pending or taking so long? So in most cases if your stock request like I said goes over Transfer goes over seven days. You want to contact Weibo Either through a phone call or you can send them an email at account at Weibo dash Us calm again account at Weibo dash us calm you can send them an email there and they'll figure it out And try to get you on track next question is why did my stock transfer failed or Got rejected. So there's so many things that can happen. Why your stock transfer got failed or rejected. So If you if you submit your transfer and then you're still trading in Let's say in Robin Hood and still making trading in Robin Hood that Might lead to a rejection or cancellation of your request for transfer because the account is still very active In some cases if you put a request and you have less than $500 in your portfolio Since Weibo requires that you should have at least $500 plus to request a transfer you have on the $500 They would reject that request and it's there's so many ways that you can make that mistake You can have a portfolio that's over $500 But by the time you're making out a quest the market moves and you know down and your portfolio is on the $500 at that Point they're gonna reject that request and you're not you're not gonna get it So yes, there was some of the things that might lead to you getting rejected or if you have Stacks that are not transferable into Weibo So they're getting like I said to find out the stocks that transfer will make sure that you take the ticket symbol of your stock in Robin Hood Bring it into Weibo and then I just search it in CVC the trade button under that stack That means that stock is tradable in Weibo and they means you can transfer it to Weibo and finally So I've seen people ask me what is ACATS? Which stands for automated account transfer Services again it stands for Automated customer account transfer services. So this is a system that That automates and standardize the procedure for the transfer of assets Let's say in a customer account from one brokerage to another so in this case the process of transferring your asset from Robin Hood to Weibo It's called ACATS So automated customer account transfer services and so So right now the last thing that wanted to just kind of give you guys or get you guys up to speed is a few tips To consider before you even initiate the transfer to To Weibo so if you're looking at you're thinking about transferring your assets from Robin Hood or any other broker to Weibo Just a few tips that you want to not consider number one is that only listed US stocks options ADRs on ETFs are accepted So if they're not US listed, you're not gonna be able to transfer them Weibo supports individual cash account Margin accounts traditional IRAs Rough IRAs and roll over IRAs only those are the only ones so cash account margin account traditional IRAs roll over IRAs and in rough IRAs in Tip number three is that the name and the type of the delivery account must be Identical to the receiving accounts name So if you are transferring an account from let's say Robin Hood to Weibo and you're the name in Robin Hood Doesn't match your name in Weibo. You have problems the account type doesn't match So you you're transferring you're trying to transfer or a traditional IRA into a rough IRA That won't let you so you have to make sure that all those things are identical before you can request your transfer Number four that I want you to know is that or tip is that your broker may charge you About a $75 fee for transferring out So or you get charged for transferring your money out of the system So make sure that you can you talk to your broker or your current broker and figure out What that fee is and see if you are willing to take that fee or you might just want to liquidate and then Transfer the money and then buy buy the assets again in Weibo and finally so for the most part we both doesn't transfer Stacks or accounts under $500 like I mentioned earlier So if your account is less than $500 don't even bother case it's gonna get rejected so we will would not transfer that So those are some of the tips that I want you guys to Consider before Transferring your assets to Weibo. So as you can see guys transferring from any other broker to Weibo It's a very easy process, but you have to Know understand some of the things that we just talked about some of the questions that we just talked about if you don't know The answers it might be an issue for you transferring So I hope that these Answers are helpful and allow you to go through the process very seamlessly. Like I said, it's a very short form Check out the video for that. I walk you step-by-step through it And just you know if you have any questions again, you can drop them in the comment section again Follow the tips that we talked about make sure that the account types are the same and make sure your name matches and stuff Again, you have over $500 in your portfolio before putting your request because otherwise it's gonna get rejected So it'll be your time with it. So question of the day. What do you think about these tips? Do you think that this was helpful or do you think mr. V? I need more and need even more details and even answer more questions again If you are thinking of moving to Weibo Weibo is actually doing a promotion where they're gonna give you two free stocks One the first one would be from like $2 to about $250 and then second one would be from $12 to a thing for $1200 So I'm gonna put a link in the description below. You can definitely go check them out if you want to Sign up for Weibo. I'm a Weibo affiliate and so I get Kind of a free stock just like you do I get a free stock for you know for every refer that I sign to them So it does help me keep the channel going And it's always guys Stay motivated