DISCLAIMER: Initiating any kind of transfer (DRS, ACAT, DTC, FOP, etc.) will temporarily freeze your NFCU account until all of the shares are settled with the receiving broker or transfer agent. You will not have access to trading during this time, even if there is an active position in your account. Access to funds and trading will resume when the transfer is complete.
NFCU charges a $55 fee for each DRS transfer. This means each time you want to DRS shares of a specific stock (no matter how many shares) you are charged $55 for each transfer.
The process is as follows:
Once your shares and $55 have settled in NFCU, complete DriveWealth's Outgoing DRS Transfer form, located here (DriveWealth is the US broker that NFCU uses to manage US stocks).
How to fill out the Outgoing Share Transfer form:
DW Account Number: NFCU Account Number.
Account Holder (name): Your name.
Phone: Your Phone Number.
Email Address Your email address.
Company Name: Gamestop (GME).
Receiving Firm Name: Computershare.
DTC Number: 7807.
Receiving Firm’s Address: Attn: Stock Transfer Department, 462 South 4th Street, Suite 1600 Louisville KY 40202.
Shares should be registered to the benefit of: 'Your Name Here".
Social Security #: If you don’t have one, enter “999-99-999” in this field.
Once the form is completed (as well as signed and dated), send it back to "contactdigitalinvestor@navyfederal.org".
Keep a copy of your DRS form as it will help knowing exactly how NFCU entered your information into their system, which in turn will be used on Computershare’s system.
You should receive an automated email response from NFCU, advising that one of their team will be in touch shortly. This contact may take anywhere from hours to a couple of days.
You will know when the DRS transfer is taking place, as your account will be restricted for the duration. Time varies, but it's normally 5-10 business days.
During this period, you will not be able to purchase or sell any stock from your account with NFCU.
Your account being unlocked indicates that your shares have left NFCU, and are now at Computershare.
If you don't have an existing Computershare account:
The broker and Computershare will take care of the transfer and open a Computershare account for you. This will take another 2-3 business days.
If you have an existing Computershare account:
Your broker will transfer the shares based on your name and address. As a result, a second account may be created for you. This can be for a few reasons, such as a middle initial existing on one account, but not the other. If your name and address match exactly, then the transfer will process within the normal amount of time. If not, then it will take another 2-3 business days.
Your broker may ask you for a Computershare account number. For security reasons we do not recommend giving this information to your broker. With Computershare accounts, the account number is the "key" that allows brokers to authorize a transfer of shares out of the DRS and back to the broker.
After your shares leave your broker:
You can wait 3-5 business days for your account statement to arrive in the mail, or you can begin your account creation early by using your SSN. Although if your name and address are entered differently to your broker it may open a second account. To open your account with your SSN:
Go to Computershare.com/us.
Click on “Login to Investor Center”.
Click on “Register Now”.
Answer security questions such as Social Security number, ZIP Code, name of the stock that you hold (GameStop).
Computershare will then prompt you to create your username, password and security questions.
Once your account is created, Computershare will send you a verification letter in the mail.
You can wait 3-5 business days for the verification letter, or you can verify your identity immediately online.
To verify online, Computershare will ask some security questions based on info they take from LexisNexis. Please note, part of the process is to give a question with zero correct answers. So read the questions carefully.
When you receive the verification code letter:
Return to Computershare.com/us.
Click on “Login to Investor Center”.
Login using the username, and password you have created.
Then you can enter the verification code.
You now have full access to your Computershare account!
There is no more need for the verification code.
We recommend you now activate your two-step verification (2FA) to improve your account security. You can set this up by going to: "My Profile", then "Account Security Preferences".