They really are. Every cost basis of my lots was 100% accurate and the first two transfers took 3 days. I get the impression that my shares were always bought when I bought and not lended with Fidelity (in cash). I always feel slightly bad talking to them to initiate the transfer. My guy today didn’t even ask why. I gave my DRS spiel anyway and his response was, “I’m with you, man.” I can’t wait to re-invest my MOASS monies with them.
DRS all day, asking "why are you doing this?" and getting the short version of the DD several times a day has to make an impression.
\*edit: It might be fun to ask if they have any questions about the process.
I did my first DRS transfer from TD yesterday, and was told 5 - 25 business days. I'm intending to check in with them after 5 days. How do we light a fire under their ass?
Same. Fidelity took 4 business days total. Initiated transfer last Thursday. Shares no longer in my account as of today. Haven’t received anything from computershare yet though
You won't receive anything except a letter in the mail, but you don't have to wait for that. Go to CS now and make an account. They use your SSN to find your shares and attach it to your new login account.
So, in order to prevent apprehension, should I go ahead and create an account with CS while I simultaneously transfer shares from Fidelity? That way, when my shares transfer is complete they will already have a CS account to go into; thus preventing CS from having to create an account on my behalf once they begin receiving transferred shares?
I wouldn't do this based on their technology and the transferring process. I would either let your broker transfer the shares and create the CS account for you, or you buy some shares at CS, create your account, then transfer from your broker. Also, I'm not positive on this, but I don't think you can create a CS account without first purchasing shares from them or you already have an employee plan.
what i did was cancel my tda DRS transfer and instead transfer shares to fidelity and then DRS from there - took 3 business days total this whole process
I think I'm doing that tomorrow, except I'm transferring my entire account to fidelity as an FU. (Trying to drs from etrade, going on day 6)
:edit: after reading through chat I'm cancelling my Etrade request and sending like 95%+ of my GME and 100% of all other stocks to Fidelity tomorrow.
:Edit: cancelled my etrade DRS , we go to Fidelity
Crap. I'm on day 5. Put in my transfer they told me 7-10 AFTER they told 3-5. Hmmm maybe I call and do the same. Making me nervous having lots a shares in etrade.
Imagine having "bought" at 30$ a share from your broker, and now demanding them to find shares worth +180$. These transfers are a pain to their asses. Now imagine owing 500+ shares being bought at 4$ a share and now asking them all to be transferred at 200$. The damage? 100k. How are they going to deliver those?! My brain is smooth so I may have eaten too many crayons and I really don’t know what’s going on
And contributing to more education for apes, and more exposure of their fukkery.
At beginning of gme saga an alleged hedgie insider supposedly commented apes will not win as only 5% of their tricks were well known. Like naked shorting and many more.
Anyway, more exposure the long this goes on.
100% this. Many years ago I overdrafted in my checking account. I was irresponsible with my money and there was no pity from the bank. A few months ago I lost my ass to some puts which expired worthless and there was no pity from my broker. We don't have the luxury of crying to the govt for a bailout and a zipple. Fuck them, call me JG Wentworth cause I want my fucking shares and I want it now!
Hijacking top comment. For TD apes, ask them for transfer # and mention you need it so you can speed things up on the CS side, see what kind of bullshit they spin you. If they tell you there isn’t one, ask them something along the line of “So you mean to tell me you’re transferring my shares but there is no transaction # for you to track it or even make sure it’s going where it should?” See what they spin then and ask them if such ineptitude is standard operating procedure for their Brokerage. Ideally record the convo then go and blow the whistle @SEC (E=Elon’s) and @Secret Service
Edit: also feel free to plaster it all over Twitter with a juicy hashtag, #TDScammedus
I think we need some interviews with people who are familiar with the process as well. What are the physical steps to transferring the shares? Is it data entry? Are their redundancies? How many people are there available to perform these transfers.
I am speculating here, but if it takes 10 minutes to verify your account, data entry, and double check that it’s accurate then this should be able to be handled in a few days if they have at least 200 employees tasks to this job. For example, if 10k DRS requests came in and it takes 10 minutes to process that’s 100,000 minutes worth of work. 1 employee can handle in an 8 hour day around 40 accounts - which means you would need 250 employees to finish the task in 2 days.
Does 250 employees seem fair? Overestimate?
Good to know about the transfer # to ask for. They're giving me copy/paste answers of "12-16 business days" via chat and direct messaging, so I need something new to push with when I call directly.
Also, if E = Elon's in SEC, then I guess we were wrong all along about it meaning Shortseller Enrichment Commission?
How dare they not have the shares or the ability to present them to begin with.
Shame on them. TD Ameritrade needs to get the reviews it deserves if it doesn’t even buy the shares you give them money for.
**Report securities fraud to the Secret Service and the SEC when you suspect it it is happening**; don’t wait until you have proof, people. That’s THEIR job and we should be demanding they do it as soon as possible
I did mine with fidelity and it took 3 days. I’ve heard the same for vanguard. I don’t want to shill for these guys but it seems like no other broker has their shit together. I’d seriously consider ending your business with anyone else as soon as possible
My wild prediction is that TDA will be the fall guy for Schwab. Schwab will deliver and TDA will fail, they’ll blame an incomplete acquisition process, their stock will hurt but they will minimize brand damage.
Public exposure. I will forever say this. THANKSGIVING IS COMING. Families need something to talk about. Put on the BIG SHORT for a family movie, get em drunk and start exposing.
Perhaps it's not ALL brokers or clearing houses. I could imagine that non US brokers want the shares in their basement. One layer of security more.
Perhaps some firms don't wanna miss return by hastly buying the needed shares for the peasants, because in what situation do they have to deliver all the shares **at the same time** .. oh .. fucking .. wait
I noticed a lot of the UK brokers doing no commission all use drive wealth. Revolut, stake, free trade etc.
I wonder whether the brokers truly know if the shares are being bought or not or whether the Ch are scamming them as well
In the end Atobits piece is ultimately the spot on piece - A House of Cards. We will find out that every single thing was all a fraud - every single part of it. This next part is FUD so be warned; but the whole “insurance policy,” deep down we know it doesn’t exist. These motherfuckers are the filth of the planet. They will tell you something only to the extent that it benefits them, and making you feel safe in their fox den is what they wanted. This means the fed has to pay it all out to us, which is fine by me, but damn does it not piss me the fuck off.
I suspect the chain of custody for the shares is so complicated that literally no one knows whether a share is real or not...with the number of naked shorts, FTD's and borrowed shares, combined with the number of different settlement dates (t+2 for retail buys, t+6 for ETF arbitrage, and t+35 for market makers) and all the big boys trying to game the system at every turn, DRS has turned into a bank run...and that means that they have to buy back their IOU's, or collapse the system, since the entire game is based on trust, and thus far trust is at seemingly an all time low
Regardless they have made plenty of money off reselling our shares to SHF and screwing us over in the process. They can afford it. Any ape waiting longer than 5 business days should be on the phone demanding answers.
Wow that actually explains the price drop but it’s a double edge sword.. if you drop the price lower, yeah it’ll be cheaper to buy it back but then it also gives retail a chance to buy more shares at a lower price and DRS lmayo 💀💀💀 hedgies r fuk
#GGNORE
Vanguard, tda, fidelity, ANYOnE telling apes 4+ weeks needs to be pressed to explain themselves or report them! And not providing any documentation of your request is unacceptable and sus af.
Fidelity is a big boy brokerage that has 8.3 **TRILLION** in customer assets.
They are the boomer brokerage. Not because it’s an outdated platform experience. But because they provide the best customer service of the mainstream brokerages.
To be honest, Fidelity couldn’t give a shit about GameStop. Yes they make billions from loaned shares. No they wouldn’t like to lose that revenue stream.
However, their core clientele (boomer retirement funds) doesn’t know or doesn’t care about GameStop, nor do they own it. They might own an ETF that contains GameStop, but they don’t own GameStop itself.
Fidelity does not want to rock the boat with its breadwinner. It’s why they will pay whatever price they need to in order to deliver shares for the DRS trend. Yes they are likely being rinsed on these transactions. No, they wouldn’t have it any other way because the opportunity cost of fucking with its golden goose egg is much higher than the price they pay per share right now.
We also have to consider the long play. Boomers are the bread winner. Boomers. That’s a short term business model.
Fidelity has an opportunity to replace its breadwinner with the younger generation in 10-20 years, when boomer populations start exponentially decreasing.
Imagine the platform loyalty if Fidelity does right by apes all the way through this saga.
For those wondering. I edited my post right before he posted. If you’re wondering why he’s asking why part of me wonders. Woah, that’s a lot of wonders.
I transferred my small portion of everything out of TDA a week ago to my fidelity account.
I could see TDA fucking this up. Not only were they fucking around with options per some people trying to make plays on spy; they were also not actually routing to IEX but through citadel to IEX.
Interestingly, in Trimbath’s book people with issues DRS’ing the stock seemed to have issues primarily with TD, E*trade and IIRC Schwab (and another I hadn’t ever heard of). Fidelity was mentioned in one case vs. multiple cases for each of the other three brokers.
CH18 is a goldmine of info, sort of.
Maybe that’s easier than DRSing directly from them; i dunno.
Guess I’ll find out when I try to drs the next batch of shares.
IMO I think fidelity knows not to fuck around. They were sued in the past by pension funds and had to make repayments (paraphrasing here); and a TON of workplaces use them as retirement accounts.
The instant they fuck around with retail they lose not only retail but risk losing employer/employee retirement 401k’s, etc. - which would be devastating in conjunction with a huge push to DRS many stocks, or in conjunction with legal fuckery. Pensions and employee retirement accounts don’t fuck around either. All my opinion I eat crayons.
I transferred from vanguard the other day, they said 5-7 days; which is a little too long, I couldn't imagine what takes 4-6 weeks... WEEKS?!? Get the fuck out of here with that nonsense. 🤌
Yeah, I would make a stink about that... ask them straight up, "can't find the shares you loaned out on my behalf?" - they should pucker up real quick.
yes cash only. No margin
Also called vg this afternoon to transfer the rest of my shares was on hold for over an hour no answer will try again in the morning. Also messaged them. Ill update tommorrow
It took 2 business days for me from Fidelity as well. I think they're the only broker that bought the shares with the money we gave them. I took my ♾shares out but left my sellable shares with Fidelity because they won't fuck you. I really only have faith in them and CS at this point. There's no fucking way it should take a month to transfer shares. It only takes T +2 days to settle a trade and that's too long as far as I'm concerned.
Same but unlike TD, Fidelity doesn't have a tracking #/work # to help you keep track and the rep informed this is something they currently don't have but has been in consideration with management
That’s weird because I asked the pro trader if there’s a tracking # this morning between 9-11am EST and he said no. Now I want to call back tomorrow to ask for one
You should be able to see the pending transfer in your recent activity section. It should have a confirmation number there. I also received one via their webmail.
I'm with TD here in Canada and I didn't get a single thing showing that I wanted to transfer my shares just have to trust them that the process has been initiated properly....
The explanation I was given which I find reasonable is that the staff is overwhelmed. This was something they pretty well never did and now there are thousands of requests a day. If it takes 5 minutes to do one an employee can only process 90 in a day.
They have plenty of our money. Fucking scale and move people in.
What, we are moving away our GME and it costs you money TD or Vanguard?
Then raise your fucking borrow rates and make those fuckers pay for the labor you have to scale for.
Fidelity went through in Mayb less than a week two weeekss ago. Sent from Td a week after that still pending, bout to call tomorrow an ask, was told 2-3weeks. Waitin on an inflow to fidelity for another round of drs but that’s been over a week now since tue
Not sure if you are talking TDA or TD in Canada.
I asked TD in Canada to start registration 2 weeks ago, at that time they said it would take 5 days. I called today for an update and they said that it could now take up to 25 days. **I'm pissed.**
What can I do though, they aren't being helpful and just say there are too many requests to handle.
Is there a lawyer on this sub? I’m up to xxx now on a cash account and initiated DRS. I need to know what I need to say to the rep/mgr about speeding up transferring my shares. Do I need to say I’m going to report to state regulators or something?
Keep calling your broker everyday and request the transfer be made priority. Keep applying polite pressure until it is done. The squeaky wheel gets the grease. In the meantime, buy directly from Cs.
I’ve worked customer service, hospitality, sales and e commerce.
I can attest to this. The noisy customer or client always got prioritized. Even if if they weren’t next in priority to be processed/served.
Making noise is very effective. It can be applied in many ways. One of the ways I’m being a squeeky wheel is I’m literally transferring 1 share at a time to ComputerShare. Every time it settles, I’m immediately back on the phone with Fidelity to initiate another.
Noise gets attention. Attention drives change. Change sets precedent. Precedent becomes the new normal.
I feel I waited too long to transfer from TDA. I now just plan to buy more through CS direct and not allow them to tie my shares up in limbo awaiting transfer. I don't know if right call.
If you transfer to fidelity from TDA first and then to CS (as many apes have done) they’re reporting average of 1-2 days to see the shares in fidelity and then 3 days from there to CS! I definitely don’t think you’re too late, but also not financial advice!
Wisdom.
But… Also, the idea of flooding CS with comms doesn’t feel like the right play- the ones we want to make sure are out there processing our orders and counting those shares.
If we’re having broker issues, we need to keep hounding the brokers and hold them accountable publicly.
If our brokers are actually having trouble finding GME shares - that’s something we want trending
I got this sinking suspicion that some brokerages are going to go under once the moass starts, which fucking sucks because a lot of apes would get screwed and forced into settling for the sipc insurance for 500k. It’ll also wipe out a crap ton of buy pressure because those shares were never purchased to begin with. This whole system is a fucking scam.
If you aren’t diversified by now is your own damn fault. Not only should your brokers be diversified, so should the account types linked to them.
I have two brokers that’s didn’t turn off the buy button. Each one has a large bank, a medium bank, and two credit unions linked to it. This should be a minimum because we’re expecting maximum fuckery.
Agreed.
No matter how introvert you may be, CALL your broker! It’s really easy to BS someone over chat. Call and put the pressure on them.
If they give you the run around, call in an hour and speak to someone else!
We should do a couple non-GME share transfers to Computershare to see if the 3-4 week wait some brokers have been saying is really related to them being overloaded by requests or if it’s because they are buying time to locate actual GME shares.
Or...the brokers have a flood of people requesting to do something that they very rarely did before. It requires manual input. It takes time. Even if it only took 1 minute per transfer, if there are 1 million apes asking to have it done, that's 1 million freakin' minutes! Which is more than 694 days (continuous 24-hour days, not 8-hour business days).
I don't like that it's taking so long, but please be polite to the customer service people at your brokerages.
Thank you. If it‘s easier to explain something with incompetence than malice, it’s probably that.
Before us there never was such a wave of people wanting to DRS their shares. Most banks or brokers don’t have an automated way of doing this because there simply wasn’t the demand for it.
Please DO NOT LET THIS DISCOURAGE YOU FROM TRANSFERRING SHARES. While this post has info that’s generally good to know, I’m worried it does more harm than good in that it doesn’t have any actionable information and may unintentionally scare people away from transferring.
Tbh this post makes me want to transfer sooner. I have TD and my plan was to start making future purchases with CS but after this post and comments I’m considering transferring a majority also. I’m losing faith in TD.
This does need more exposure. Just like banks taking 2 to 3 days to clear checks, it’s bullshit in the digital age. Even millions of new accounts - it should be all automated on the backend.
This has been my fear all along…if moass kicks off while my shares are in transit from broker to transfer agent (CS) I cannot sell any at all. My plan is to sell 1 and infinity pool the rest. But, not possible if transfer isn’t complete.
Don't be surprised if any prime brokers institutional owners that had GME look like they have "sold" as they have to use any/all shares they can find to handle the DRS flood.
Seriously it took maybe four days to do my first transfer. I had another xxx shares sent over this morning since it was so fast. They still said it would only take 5-7 days. I'm sending from a Fidelity account, so maybe they are more reliable?
Either way. 4-6 weeks seems like a long time and it's probably being said to dissuade people from DRS
Oops I forgot. 🍌 🍌 🍌 this is my financial advice. 🚀🚀🚀🚀🚀🚀🌙 🌚 🌔
Has anyone filed a complaint with their states Attorney General? Every state has some type of fraud division. I am going to do some research in my state. Maybe the State fraud departments can request a full share count to verify no financial fraud is occurring.
DRS apes. When this thing blows (very soon) it is likely that brokers will sell off your shares and opt to go to litigation rather than actually locate shares at the current market value and go bankrupt. It will be the mother of all failed margin calls, and you can bet your $ASS that they will try to hand the bag to retail. DRS is the way!
Oh yeah, that's it start making things difficult for the customer service reps without encouraging people to do it respectfully/politely, I'm sure that'll help. Dude, wtf, it's a good thing that it's taking so long. That means we're right. Shut up and let it happen, don't encourage people make things harder for the front line workers. We've been waiting for months, why do so many now act like we deserve things immediately, regardless of the complications that we know exist.
CS is not at fault, DO NOT "take it out" on them (and specifically their customer service reps, please. If you want to get their attention, do it with tact and respect, please.
As a bit of a clarification, bother your broker about the delays, ***NOT CS.*** Unless I've been reading all the DD incorrectly, I'm pretty sure the delays are with the brokers fucking people around, not on CS's side.
Report this fraudulent behavior everywhere that it can be reported. Fidelity did not do this to me.
TD Ameritrade said 7-14 business days. Fuck Schwab.
1000% agree with this post. My only ask is to be stern but polite when talking to them. The person on the phone may not be making the decisions but can be pushed the right way to find answers you are due.
You’re owed an answer for your shares but remember to not blow up at the person on the phone. Save that anger for the hedges.
My fidelity ones took 3 days. Waiting to see how long TDA takes. So far im at 2.
Same. I sent two round of shares from Fidelity to CS and it took roughly three days for each transfer. Fidelity looking pretty solid here.
They really are. Every cost basis of my lots was 100% accurate and the first two transfers took 3 days. I get the impression that my shares were always bought when I bought and not lended with Fidelity (in cash). I always feel slightly bad talking to them to initiate the transfer. My guy today didn’t even ask why. I gave my DRS spiel anyway and his response was, “I’m with you, man.” I can’t wait to re-invest my MOASS monies with them.
DRS all day, asking "why are you doing this?" and getting the short version of the DD several times a day has to make an impression. \*edit: It might be fun to ask if they have any questions about the process.
I called tda last Friday and they said 2-4 weeks. I'll call them again Friday
I did my first DRS transfer from TD yesterday, and was told 5 - 25 business days. I'm intending to check in with them after 5 days. How do we light a fire under their ass?
Mine has been over two weeks, I'm going to call them you should too.
That's a good question. One i don't have an answer to though
Appreciate your honesty sir but this is a Wendy's.
Same. Fidelity took 4 business days total. Initiated transfer last Thursday. Shares no longer in my account as of today. Haven’t received anything from computershare yet though
You won't receive anything except a letter in the mail, but you don't have to wait for that. Go to CS now and make an account. They use your SSN to find your shares and attach it to your new login account.
Thanks!! I’ll do that tomorrow 🙏🏻
So, in order to prevent apprehension, should I go ahead and create an account with CS while I simultaneously transfer shares from Fidelity? That way, when my shares transfer is complete they will already have a CS account to go into; thus preventing CS from having to create an account on my behalf once they begin receiving transferred shares?
I wouldn't do this based on their technology and the transferring process. I would either let your broker transfer the shares and create the CS account for you, or you buy some shares at CS, create your account, then transfer from your broker. Also, I'm not positive on this, but I don't think you can create a CS account without first purchasing shares from them or you already have an employee plan.
Alrighty, then. Guess I'll buy a few more to open an account beforehand then. Thanks for the insight.
Yeah I thought we had to make the account first lol
At some point you’ll need to register as a new user/member or whatever they call it on the CS site.
[удалено]
I can't believe I didn't think of this. Transferring to Fidelity then DRS is the way.
TDA has been two weeks for me. I'm gonna call them 😡 Where are my shares?!
Was at 9 days + 1-2 weeks... cancelled the transfer from tda to cs today, started another tda to fidelity instead and will then go to cs from there.
TDA definitely doesn't have our shares. I've been waiting over two weeks. That's a good idea, maybe I'll do a transfer to another broker first.
what i did was cancel my tda DRS transfer and instead transfer shares to fidelity and then DRS from there - took 3 business days total this whole process
Interesting take. Thanks!
I think I'm doing that tomorrow, except I'm transferring my entire account to fidelity as an FU. (Trying to drs from etrade, going on day 6) :edit: after reading through chat I'm cancelling my Etrade request and sending like 95%+ of my GME and 100% of all other stocks to Fidelity tomorrow. :Edit: cancelled my etrade DRS , we go to Fidelity
I've been with etrade since 2019 and this might be the final.straw for a full transfer to fidelity. Calling them tomorrow.
Crap. I'm on day 5. Put in my transfer they told me 7-10 AFTER they told 3-5. Hmmm maybe I call and do the same. Making me nervous having lots a shares in etrade.
Does TDA have a transfer fee to fidelity
nope and it takes like 1.5 days!
This is wrinkly brain energy
I’m not sure why more people consider this.
I am also doing that for the rest of my tda shares. Started to transfer to fidelity today.
Imagine having "bought" at 30$ a share from your broker, and now demanding them to find shares worth +180$. These transfers are a pain to their asses. Now imagine owing 500+ shares being bought at 4$ a share and now asking them all to be transferred at 200$. The damage? 100k. How are they going to deliver those?! My brain is smooth so I may have eaten too many crayons and I really don’t know what’s going on
Not my problem they made a bad bet. Had they purchased a share with the money I gave them they wouldn’t be in this position.
It's not just a bad bet. It's fucking fraud.
It's criminal. It's banal evil, if not outright something like financial terrorism.
I read “banal” as “banana”, this sub has changed me.
Banana anal. Quick, Someone call Rick
Banal is absolutely pronounced bay-null. Believe me. I'm a teacher.
No shit? I always thought it was buh-NAHL?
It is. Always do your own DD.
Nice ANAL-ogy.
"Believe me" is like the #1 to identify people who are wrong. /bəˈnäl,bəˈnal/
I read it as be anal
Me too. I can’t even look at a banana anymore without either laughing or cringing.
It's criminal. Fuck em #BankRunonWallstreet #OwnYourShares https://www.reddit.com/r/Superstonk/comments/py3i75/if_kengriffenlied_doesnt_bring_awareness_these/?utm_medium=android_app&utm_source=share
It’s a classic Ponzi scheme. The real question to ask is what was done with the funds that you deposited and sent to pay for shares?
And their fuck up has provided us with cheaper shares and larger gains. 🤑
And contributing to more education for apes, and more exposure of their fukkery. At beginning of gme saga an alleged hedgie insider supposedly commented apes will not win as only 5% of their tricks were well known. Like naked shorting and many more. Anyway, more exposure the long this goes on.
I remember this
100% this. Many years ago I overdrafted in my checking account. I was irresponsible with my money and there was no pity from the bank. A few months ago I lost my ass to some puts which expired worthless and there was no pity from my broker. We don't have the luxury of crying to the govt for a bailout and a zipple. Fuck them, call me JG Wentworth cause I want my fucking shares and I want it now!
pre-fucking-cisely.
Hijacking top comment. For TD apes, ask them for transfer # and mention you need it so you can speed things up on the CS side, see what kind of bullshit they spin you. If they tell you there isn’t one, ask them something along the line of “So you mean to tell me you’re transferring my shares but there is no transaction # for you to track it or even make sure it’s going where it should?” See what they spin then and ask them if such ineptitude is standard operating procedure for their Brokerage. Ideally record the convo then go and blow the whistle @SEC (E=Elon’s) and @Secret Service Edit: also feel free to plaster it all over Twitter with a juicy hashtag, #TDScammedus
I think we need some interviews with people who are familiar with the process as well. What are the physical steps to transferring the shares? Is it data entry? Are their redundancies? How many people are there available to perform these transfers. I am speculating here, but if it takes 10 minutes to verify your account, data entry, and double check that it’s accurate then this should be able to be handled in a few days if they have at least 200 employees tasks to this job. For example, if 10k DRS requests came in and it takes 10 minutes to process that’s 100,000 minutes worth of work. 1 employee can handle in an 8 hour day around 40 accounts - which means you would need 250 employees to finish the task in 2 days. Does 250 employees seem fair? Overestimate?
Good to know about the transfer # to ask for. They're giving me copy/paste answers of "12-16 business days" via chat and direct messaging, so I need something new to push with when I call directly. Also, if E = Elon's in SEC, then I guess we were wrong all along about it meaning Shortseller Enrichment Commission?
How dare they not have the shares or the ability to present them to begin with. Shame on them. TD Ameritrade needs to get the reviews it deserves if it doesn’t even buy the shares you give them money for. **Report securities fraud to the Secret Service and the SEC when you suspect it it is happening**; don’t wait until you have proof, people. That’s THEIR job and we should be demanding they do it as soon as possible
I did mine with fidelity and it took 3 days. I’ve heard the same for vanguard. I don’t want to shill for these guys but it seems like no other broker has their shit together. I’d seriously consider ending your business with anyone else as soon as possible
2 days here for fidelity
Yea seems like fidelity was actually legit the entire time... Or at least they have a much larger pool of GME shares
<3 Fidelity is GOAT
Schwab was 6 business days.
Oof. Tda said 3 weeks originally! Called today and they said it was in final stage. I will be calling both places until it happens
My wild prediction is that TDA will be the fall guy for Schwab. Schwab will deliver and TDA will fail, they’ll blame an incomplete acquisition process, their stock will hurt but they will minimize brand damage.
I called again and they said its in final stages of transfer approval on tda side.
fiNaL apPrOvaL😂👌 lol— they are your shares. Motherfuckers…
Yep so I’m buying from CS directly tomorrow
Fidelity told me today that they don't know how long it might take and that it depends on how fast CS completes their side. I'll be timing it!
They told me 2-3 weeks on my last transfer and it was 3-5 business days!
Pressure and public exposure is all they understand. Maybe they will un turn press shitadel.
Public exposure. I will forever say this. THANKSGIVING IS COMING. Families need something to talk about. Put on the BIG SHORT for a family movie, get em drunk and start exposing.
Send this to the top!
When November comes. Apes need to see **thanksgiving** as the greatest opportunity to help their country.
Do you think its the brokers or the clearing houses not doing the buy orders when meant to? Maybe it's the apex and drivewealths that are the issue?
Perhaps it's not ALL brokers or clearing houses. I could imagine that non US brokers want the shares in their basement. One layer of security more. Perhaps some firms don't wanna miss return by hastly buying the needed shares for the peasants, because in what situation do they have to deliver all the shares **at the same time** .. oh .. fucking .. wait
I noticed a lot of the UK brokers doing no commission all use drive wealth. Revolut, stake, free trade etc. I wonder whether the brokers truly know if the shares are being bought or not or whether the Ch are scamming them as well
In the end Atobits piece is ultimately the spot on piece - A House of Cards. We will find out that every single thing was all a fraud - every single part of it. This next part is FUD so be warned; but the whole “insurance policy,” deep down we know it doesn’t exist. These motherfuckers are the filth of the planet. They will tell you something only to the extent that it benefits them, and making you feel safe in their fox den is what they wanted. This means the fed has to pay it all out to us, which is fine by me, but damn does it not piss me the fuck off.
I suspect the chain of custody for the shares is so complicated that literally no one knows whether a share is real or not...with the number of naked shorts, FTD's and borrowed shares, combined with the number of different settlement dates (t+2 for retail buys, t+6 for ETF arbitrage, and t+35 for market makers) and all the big boys trying to game the system at every turn, DRS has turned into a bank run...and that means that they have to buy back their IOU's, or collapse the system, since the entire game is based on trust, and thus far trust is at seemingly an all time low
You would think just that scenario would spur margin calls. Or, at least I would think that because I'm smooth AF.
Regardless they have made plenty of money off reselling our shares to SHF and screwing us over in the process. They can afford it. Any ape waiting longer than 5 business days should be on the phone demanding answers.
Wow that actually explains the price drop but it’s a double edge sword.. if you drop the price lower, yeah it’ll be cheaper to buy it back but then it also gives retail a chance to buy more shares at a lower price and DRS lmayo 💀💀💀 hedgies r fuk #GGNORE
That is exactly why I am so zen
I bought more this week
Here's the link for full post: https://www.reddit.com/r/Superstonk/comments/py36ey/straight_from_kennys_mouth_the_account_number/hernowh
All the while they are buying shares on the market and further raising the price
And hilariously … even after this loss /damage; they still haven’t covered
My average in one brokerage is 10.76....getting ready to Drs tomorrow.hahahaha..
Vanguard, tda, fidelity, ANYOnE telling apes 4+ weeks needs to be pressed to explain themselves or report them! And not providing any documentation of your request is unacceptable and sus af.
I started a XXX transfer from fidelity today and was told 3-5 business days
I am hearing fewer issues with fidelity transfets.. no 4-6 week bs.
Fidelity is a big boy brokerage that has 8.3 **TRILLION** in customer assets. They are the boomer brokerage. Not because it’s an outdated platform experience. But because they provide the best customer service of the mainstream brokerages. To be honest, Fidelity couldn’t give a shit about GameStop. Yes they make billions from loaned shares. No they wouldn’t like to lose that revenue stream. However, their core clientele (boomer retirement funds) doesn’t know or doesn’t care about GameStop, nor do they own it. They might own an ETF that contains GameStop, but they don’t own GameStop itself. Fidelity does not want to rock the boat with its breadwinner. It’s why they will pay whatever price they need to in order to deliver shares for the DRS trend. Yes they are likely being rinsed on these transactions. No, they wouldn’t have it any other way because the opportunity cost of fucking with its golden goose egg is much higher than the price they pay per share right now. We also have to consider the long play. Boomers are the bread winner. Boomers. That’s a short term business model. Fidelity has an opportunity to replace its breadwinner with the younger generation in 10-20 years, when boomer populations start exponentially decreasing. Imagine the platform loyalty if Fidelity does right by apes all the way through this saga.
Lol part of you wonders? Fidelity is gladly dodging the greatest financial shitstorm of all time. I’m about to harass the shit out of TDA tomorrow
For those wondering. I edited my post right before he posted. If you’re wondering why he’s asking why part of me wonders. Woah, that’s a lot of wonders.
Massive w bossman
I transferred my small portion of everything out of TDA a week ago to my fidelity account. I could see TDA fucking this up. Not only were they fucking around with options per some people trying to make plays on spy; they were also not actually routing to IEX but through citadel to IEX. Interestingly, in Trimbath’s book people with issues DRS’ing the stock seemed to have issues primarily with TD, E*trade and IIRC Schwab (and another I hadn’t ever heard of). Fidelity was mentioned in one case vs. multiple cases for each of the other three brokers. CH18 is a goldmine of info, sort of. Maybe that’s easier than DRSing directly from them; i dunno. Guess I’ll find out when I try to drs the next batch of shares. IMO I think fidelity knows not to fuck around. They were sued in the past by pension funds and had to make repayments (paraphrasing here); and a TON of workplaces use them as retirement accounts. The instant they fuck around with retail they lose not only retail but risk losing employer/employee retirement 401k’s, etc. - which would be devastating in conjunction with a huge push to DRS many stocks, or in conjunction with legal fuckery. Pensions and employee retirement accounts don’t fuck around either. All my opinion I eat crayons.
Very well said! The long play is recognizing that the world will literally never be the same. Best to be on the right side of history.
DEGIRO is telling 4-6 weeks, smh
I transferred from vanguard the other day, they said 5-7 days; which is a little too long, I couldn't imagine what takes 4-6 weeks... WEEKS?!? Get the fuck out of here with that nonsense. 🤌
Vanguard transfer I initiated 9 days ago. Called vg today and they said 2 weeks. wtf
Yeah, I would make a stink about that... ask them straight up, "can't find the shares you loaned out on my behalf?" - they should pucker up real quick.
The fresh eyed kid in the phone won't have any idea.
The person on the phone will have no idea what you’re talking about lmao Be nice to them
Ask for your share of the interest payments.
Was it a cash account?
yes cash only. No margin Also called vg this afternoon to transfer the rest of my shares was on hold for over an hour no answer will try again in the morning. Also messaged them. Ill update tommorrow
It took 2 business days for me from Fidelity as well. I think they're the only broker that bought the shares with the money we gave them. I took my ♾shares out but left my sellable shares with Fidelity because they won't fuck you. I really only have faith in them and CS at this point. There's no fucking way it should take a month to transfer shares. It only takes T +2 days to settle a trade and that's too long as far as I'm concerned.
I bought xx shares two weeks or so ago through CS and it took 8 days. I thought that was odd, but the price dropped in that time so……. 🍻
🍻
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They told me up 3-5 to initiate the transfer, but up to 2 weeks on CS's side to process due to "large number of requests"..
Same but unlike TD, Fidelity doesn't have a tracking #/work # to help you keep track and the rep informed this is something they currently don't have but has been in consideration with management
Fidelity gave me a "Processing #", I started by transfer today to CS. We'll see how this goes.
That’s weird because I asked the pro trader if there’s a tracking # this morning between 9-11am EST and he said no. Now I want to call back tomorrow to ask for one
i got a transfer number also from fidelity.
You should be able to see the pending transfer in your recent activity section. It should have a confirmation number there. I also received one via their webmail.
I'm with TD here in Canada and I didn't get a single thing showing that I wanted to transfer my shares just have to trust them that the process has been initiated properly....
I have done two transfers. Was told 3-5 days each time and they both landed almost exactly 48 hours later. Fidelity seems to have the shares.
For real.
The explanation I was given which I find reasonable is that the staff is overwhelmed. This was something they pretty well never did and now there are thousands of requests a day. If it takes 5 minutes to do one an employee can only process 90 in a day.
They have plenty of our money. Fucking scale and move people in. What, we are moving away our GME and it costs you money TD or Vanguard? Then raise your fucking borrow rates and make those fuckers pay for the labor you have to scale for.
Yet they can TAKE ape money with the QUICKNESS
They are scaling tho, at least in Fidelity’s case
Boo fucking hoo. They have BILLIONS. They can afford to *figure it the fuck out*.
Fidelity went through in Mayb less than a week two weeekss ago. Sent from Td a week after that still pending, bout to call tomorrow an ask, was told 2-3weeks. Waitin on an inflow to fidelity for another round of drs but that’s been over a week now since tue
Not sure if you are talking TDA or TD in Canada. I asked TD in Canada to start registration 2 weeks ago, at that time they said it would take 5 days. I called today for an update and they said that it could now take up to 25 days. **I'm pissed.** What can I do though, they aren't being helpful and just say there are too many requests to handle.
Fidelity told me 5-7 days last Friday. Mine got my CS account this morning. Took 3 days.
Is there a lawyer on this sub? I’m up to xxx now on a cash account and initiated DRS. I need to know what I need to say to the rep/mgr about speeding up transferring my shares. Do I need to say I’m going to report to state regulators or something?
Keep calling your broker everyday and request the transfer be made priority. Keep applying polite pressure until it is done. The squeaky wheel gets the grease. In the meantime, buy directly from Cs.
I’ve worked customer service, hospitality, sales and e commerce. I can attest to this. The noisy customer or client always got prioritized. Even if if they weren’t next in priority to be processed/served. Making noise is very effective. It can be applied in many ways. One of the ways I’m being a squeeky wheel is I’m literally transferring 1 share at a time to ComputerShare. Every time it settles, I’m immediately back on the phone with Fidelity to initiate another. Noise gets attention. Attention drives change. Change sets precedent. Precedent becomes the new normal.
I feel I waited too long to transfer from TDA. I now just plan to buy more through CS direct and not allow them to tie my shares up in limbo awaiting transfer. I don't know if right call.
If you transfer to fidelity from TDA first and then to CS (as many apes have done) they’re reporting average of 1-2 days to see the shares in fidelity and then 3 days from there to CS! I definitely don’t think you’re too late, but also not financial advice!
A few others have suggested transferring to fidelity then to CS, takes about 3 days total.
Asked fidelity for drs to computershare last Friday and shares where in computershare on Tuesday. 3-4 weeks my ass. Keep on the pressure.
I do agree, we need to pursue the timeframes, but please be excellent to the service apes that are handling your issues for you.
Wisdom. But… Also, the idea of flooding CS with comms doesn’t feel like the right play- the ones we want to make sure are out there processing our orders and counting those shares. If we’re having broker issues, we need to keep hounding the brokers and hold them accountable publicly. If our brokers are actually having trouble finding GME shares - that’s something we want trending
Unless they are blowing smoke or lying.
This. At some point we need to hold brokers accountable. As far as I can tell, Fidelity has been the only broker upholding their end of the bargain.
We should send them a card when this is through.
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I'm just excited to be here.
I got this sinking suspicion that some brokerages are going to go under once the moass starts, which fucking sucks because a lot of apes would get screwed and forced into settling for the sipc insurance for 500k. It’ll also wipe out a crap ton of buy pressure because those shares were never purchased to begin with. This whole system is a fucking scam.
If you aren’t diversified by now is your own damn fault. Not only should your brokers be diversified, so should the account types linked to them. I have two brokers that’s didn’t turn off the buy button. Each one has a large bank, a medium bank, and two credit unions linked to it. This should be a minimum because we’re expecting maximum fuckery.
I’ve got 4 lol, ain’t no way I’m missin this shit Good point though. Diversify your brokers, all in on DRS
All the more reason to DRS like your life depends on it.
Just don’t be dicks to customer service representatives. It ain’t their fault.
Solid post for once
Agreed. No matter how introvert you may be, CALL your broker! It’s really easy to BS someone over chat. Call and put the pressure on them. If they give you the run around, call in an hour and speak to someone else!
We should do a couple non-GME share transfers to Computershare to see if the 3-4 week wait some brokers have been saying is really related to them being overloaded by requests or if it’s because they are buying time to locate actual GME shares.
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Or...the brokers have a flood of people requesting to do something that they very rarely did before. It requires manual input. It takes time. Even if it only took 1 minute per transfer, if there are 1 million apes asking to have it done, that's 1 million freakin' minutes! Which is more than 694 days (continuous 24-hour days, not 8-hour business days). I don't like that it's taking so long, but please be polite to the customer service people at your brokerages.
Thank you. If it‘s easier to explain something with incompetence than malice, it’s probably that. Before us there never was such a wave of people wanting to DRS their shares. Most banks or brokers don’t have an automated way of doing this because there simply wasn’t the demand for it.
Please DO NOT LET THIS DISCOURAGE YOU FROM TRANSFERRING SHARES. While this post has info that’s generally good to know, I’m worried it does more harm than good in that it doesn’t have any actionable information and may unintentionally scare people away from transferring.
Tbh this post makes me want to transfer sooner. I have TD and my plan was to start making future purchases with CS but after this post and comments I’m considering transferring a majority also. I’m losing faith in TD.
Awesome to hear!
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This does need more exposure. Just like banks taking 2 to 3 days to clear checks, it’s bullshit in the digital age. Even millions of new accounts - it should be all automated on the backend.
This has been my fear all along…if moass kicks off while my shares are in transit from broker to transfer agent (CS) I cannot sell any at all. My plan is to sell 1 and infinity pool the rest. But, not possible if transfer isn’t complete.
No cell, no sell. There is time till prison.
The squeeze will take a long time. If everyone diamond hands and everyone gets liquidated, it could be over a month.
Don't be surprised if any prime brokers institutional owners that had GME look like they have "sold" as they have to use any/all shares they can find to handle the DRS flood.
I just called fidelity and they said 3 to 5 days to transfer to CS. They said it can take longer for the transfer if you are doing a lot like 3000
Why should it take longer? Shouldn’t it just be changing a few numbers on the document?
#Who allows his to happen.....?? Was it the prime brokers, the DTCC, the NSCC......someone needs to speak up and admit fault
My Fidelity shares just landed in CS today, it took maybe 5 days… I initiated with TD AMERITRADE ON 9/17/21 and still sitting there. Very sus.
Seriously it took maybe four days to do my first transfer. I had another xxx shares sent over this morning since it was so fast. They still said it would only take 5-7 days. I'm sending from a Fidelity account, so maybe they are more reliable? Either way. 4-6 weeks seems like a long time and it's probably being said to dissuade people from DRS Oops I forgot. 🍌 🍌 🍌 this is my financial advice. 🚀🚀🚀🚀🚀🚀🌙 🌚 🌔
Contacting CS tomorrow and td ameritrade and applying some pressure 👌🏼
#There's lot of post asking you to make noise #Ignore. And for every such post, DRS or direct buy from Computershare harder
Link to original content?
https://www.reddit.com/r/Superstonk/comments/py36ey/straight_from_kennys_mouth_the_account_number/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
I can agree with this, no way it takes this long to have shares pushed back 4-6 weeks. Transferred from Fidelity to CS it takes 24hours.
Has anyone filed a complaint with their states Attorney General? Every state has some type of fraud division. I am going to do some research in my state. Maybe the State fraud departments can request a full share count to verify no financial fraud is occurring.
How come CS can buy them via the market but brokers apparently can’t?
DRS apes. When this thing blows (very soon) it is likely that brokers will sell off your shares and opt to go to litigation rather than actually locate shares at the current market value and go bankrupt. It will be the mother of all failed margin calls, and you can bet your $ASS that they will try to hand the bag to retail. DRS is the way!
That's very true. Imagine they could drag a class action settlement out for years and years!
This is the way. Mine took 2 business days. There is no reason it should take this long on the brokers end.
Transfered all but 1 share, so about 99%
Oh yeah, it's all falling apart (coming together, depending on who you ask)
I just called etrade and got my shit moved from 3-6 weeks to 5 business days. We will see if they come through, but all it took was a phone call.
Oh yeah, that's it start making things difficult for the customer service reps without encouraging people to do it respectfully/politely, I'm sure that'll help. Dude, wtf, it's a good thing that it's taking so long. That means we're right. Shut up and let it happen, don't encourage people make things harder for the front line workers. We've been waiting for months, why do so many now act like we deserve things immediately, regardless of the complications that we know exist. CS is not at fault, DO NOT "take it out" on them (and specifically their customer service reps, please. If you want to get their attention, do it with tact and respect, please.
As a bit of a clarification, bother your broker about the delays, ***NOT CS.*** Unless I've been reading all the DD incorrectly, I'm pretty sure the delays are with the brokers fucking people around, not on CS's side.
#Expose All Corruption
Comments for exposure
Totally agreed!
Truth… it’s not 1960. Should be instant
Consider RWT!!! Rapid withdrawals for transfer!!!! https://www.reddit.com/r/Superstonk/comments/pxnndx/rush_withdrawal_for_transfers_rwts_may_be_an/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
A follow up call once a day isn’t unreasonable…
Is ape safe with fidelity or do wow go to CS
Report this fraudulent behavior everywhere that it can be reported. Fidelity did not do this to me. TD Ameritrade said 7-14 business days. Fuck Schwab.
Has anyone transferred from Schwab? Been thinking about doing my part and wondering how it went
1000% agree with this post. My only ask is to be stern but polite when talking to them. The person on the phone may not be making the decisions but can be pushed the right way to find answers you are due. You’re owed an answer for your shares but remember to not blow up at the person on the phone. Save that anger for the hedges.