Bits of Stock™: Boost Interchange Revenue with Stock Rewards

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FAQ

What are fractional shares?

A portion of a share of equity stock that is less than one full share. For example, you can own 0.2 shares of Apple stock (ticker symbol: AAPL) instead of a whole share.

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How do I sell my stock(s)?

You can place a sell order on a stock you wish to no longer hold in the ticker detail page of that respective stock. You can find this by going to your portfolio and clicking on the stock under "My Holdings". We currently only support market orders, which means your order will be placed at the next best available price of the security. In "My Holdings" it is also possible to sell all stocks in your possession, by clicking on the "Sell All" button.

*At Bits of Stock, we practice notional trading. This way, you consider the dollar amount value of a stock at its spot price, not the actual amount of stock.

You can place a sell order on a stock you wish to no longer hold in the ticker detail page of that respective stock. You can find this by going to your portfolio and clicking on the stock ticker under "My Holdings" or under "Stocks To Trade". We currently only support market orders, which means your order will be placed at the next best available price of the security.

In is also possible to sell the whole amount of a stock you hold. To do this, when placing a sell order, leave the dollar value of the order as '0'. This way, the "Sell All" button will appear and enable you to sell your whole selected stock possession.

*At Bits of Stock, we practice notional trading. This way, you consider the dollar amount value of a stock at its spot price, not the actual amount of stock.

What is stock settlement?

The settlement marks the official transfer of securities to the buyer's account and cash to the seller's account. For most stock trades, settlement occurs one business day after the day the order executes, or T+1 (trade date plus one day). For example, if you were to execute an order on Monday, it would typically settle on Tuesday.

The settlement marks the official transfer of securities to the buyer's account and cash to the seller's account. For most stock trades, settlement occurs one business day after the day the order executes, or T+1 (trade date plus one day). For example, if you execute an order on Monday, it would typically settle on Tuesday.

How do I buy shares of a stock?

You can place a buy order for a value of dollars of stock, which you would like to own more of in your brokerage account. Go to your portfolio and click on the stock you would like to purchase more of under “My Holdings”, and place an order to buy. Then, you can place a market buy order to own more share value of the respective stock.

*At Bits of Stock, we practice notional trading. This way, you consider the dollar amount value of a stock at its spot price, not the actual amount of stock.

You can place a buy order for a value of dollars of stock, which you would like to own more of in your brokerage account. Go to your portfolio and click on the stock you would like to in the stock ticker page or click on the stock in "Stocks To Trade". There, place an order to buy. You can place a market buy order to own more share value of the respectively selected stock.

*At Bits of Stock, we practice notional trading. This way, you consider the dollar amount value of a stock at its spot price, not the actual amount of stock.

What order type can I use if I sell my shares of stock?

Currently, we only support market orders for trading stocks. This order type denotes buying or selling stock at the next best available price at the market.

How do I withdraw my funds from my brokerage account?

You can withdraw any settled funds from your brokerage account by clicking the "Withdraw" button in your portfolio. We only support withdrawals through ACH, meaning you need your account and routing/ABA number. It can take up to a few business days for the funds to reach your bank account.

How do I know that my information is secure through Bits of Stock?

Safety is a top priority at Bits of Stock. We use bank rate levels of encryption to protect our users' account information.

What is the most I can get rewarded in each month?

There is a monthly cap set by your account provider that determines how much you will be able to claim in fractional shares on a monthly basis. Once you reach the predetermined limit, you will no longer earn rewards on eligible transactions. This cap varies between our partners, so different users may face different monthly limits, depending on which of our partners they are with.

Where does my money go when I sell my shares of stock?

When you sell a stock position, your money will go into your "Buying Power" which can be found in your portfolio. You can use this to buy other stocks or withdraw the money into your bank account. Just like when buying stocks, the settlement period for selling shares is one day, or T+1 (trade day plus one day). So, if you execute a sale on Monday, it would typically settle on Tuesday.

How often do rewards get posted?

Rewards are only valid for posted transactions. Once a transaction is in a posted state it will trigger a reward. The rewards are updated every day in 1-hour intervals.

What happens if you redeem or place orders outside of market hours?

Stock rewards can be redeemed outside of market hours. Redemptions will go into a pending redemption state until the market opens and the order can be placed.

However, placing orders and selling is only possible during market hours.

*Market hours are weekdays (Monday-Friday), 9:30 - 16:00 EST. The times are also specified in your Bits of Stock portfolio.

Stock rewards can be redeemed outside of market hours. Redemptions will go into a pending redemption state until the market opens and the order can be placed.

However, placing orders and selling is only possible during market hours.

*Market hours are weekdays (Monday-Friday), 9:30 - 16:00 EST. The times are also specified in your Bits of Stock portfolio.

Stock rewards can be redeemed outside of market hours. Redemptions will go into a pending redemption state until the market opens and the order can be placed.

However, placing orders and selling is only possible during market hours.

*Market hours are weekdays (Monday-Friday), 9:30 - 16:00 EST. The times are also specified in your Bits of Stock portfolio.

How can I view my documents?

You can find all your brokerage documents under the Documents module. The module contains your trade confirmations, monthly statements, and tax documents.

The 'Trade Confirmations' are daily documents in which each trade is officially confirmed. It also contains additional information, like trade and settlement date about each trade.

In the 'Monthly Statements', your positions, cash balances and other trade activity can be found. The statements are automatically generated for you every month.

The 'Tax Documents' tab holds any tax information you may need regarding your Bits of Stock brokerage account, including tax instructions for your tax filings.

You can find all your brokerage documents under the Documents module. The module contains your trade confirmations, monthly statements, and tax documents.

The 'Trade Confirmations' are daily documents in which each trade is officially confirmed. It also contains additional information, like trade and settlement date about each trade.

In the 'Monthly Statements', your positions, cash balances and other trade activity can be found. The statements are automatically generated for you every month.

The 'Tax Documents' tab holds any tax information you may need regarding your Bits of Stock brokerage account, including tax instructions for your tax filings.

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How can I transfer funds?

Funds can be deposited into a brokerage account or withdrawn from it using the 'Transfer' function in the Bits of Stock portfolio. By default, this function is set to deposit funds into the brokerage account, but changing the accounts will switch the function to withdrawal.

New savings and checking accounts can be added, or unwanted accounts can be removed. Adding a new account can take anywhere from one minute to one business day, depending on the bank.

After initiating a transfer and reviewing its details, the transfer will be marked as 'pending' in the brokerage account history. Completing the transfer typically takes three to five business days, depending on the bank. The status will change to 'complete' once the transfer is finalized. The transfer status can be monitored in your account history.

New savings and checking accounts can be added, or unwanted accounts can be removed. Adding a new account can take anywhere from one minute to one business day, depending on the bank.

Go to the guide

How can I select stocks for rewards?

In the "Rewards" module, you'll find a curated list of available and pre-approved stocks from your financial institution. This gives you the freedom to select the stock in which you'd like to receive fractional shares of rewards for the percentage indicated per stock. Accumulate these fractional shares and redeem them once you reach the threshold set by your provider, such as $5. If you do not make a selection, a default stock will be assigned.

Keep in mind that your stock selection can be changed at any time, simply by picking a different stock in the way described above.

How can I close my investment account?

We’re sorry to see you go! If you have any feedback about your experience with Bits of Stock, we’d love to hear it at help@bitsofstock.com.

To close your account, please get in touch with your financial institution to start the process. As per our Account Closure policy, your investment account is directly linked to your checking account and since both are directly connected, they need to be closed together. Once your financial institution finalizes the closure, we’ll complete the process on our end.

For a smooth transition, please be sure to sell any shares you hold and withdraw any remaining funds from the account before closing the associated checking account.

Still need some help?

You can reach customer support by sending us an email at help@bitsofstock.com. From there a customer support agent will be able to help answer any questions or resolve any issues.

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169 Madison Ave STE 2745
New York, NY 10016

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