Are My Investments Safe?
Yes, your funds and investments are safe and continue to be safeguarded by the standard protections as before. Your funds are insured up to $500,000 (~€450,000) per user under the Securities Investor Protection Corporation (SIPC) scheme. If you wish to sell your investments and withdraw your money, you can do so at any time. Withdrawals are typically processed to your bank account within 5–10 business days. In times of higher demand or in exceptional cases, the withdrawal processing time may be extended. However, we expect that the vast majority of withdrawals submitted by February 28 will be processed by March 15. To speed up the process, we recommend not leaving the sale of securities and withdrawal of funds until the last moment, i.e., February 28.
How Can I Access My Money?
Until February 28, 2025, you can still access your investments and funds via the Birdwingo app, just like before.
What if I take no action before the February 28?
We will be in touch on March 6.
Why Are Birdwingo Accounts Being Closed?
With new management and a partnership with Alpaca, Birdwingo’s strategy is changing. The team will focus more on providing global investment access, not just in the Europe. Additionally, Birdwingo will no longer provide investment services due to the termination of its contract with Wealth Effect Management, o.c.p., a.s.
I Have a Standing Order / Direct Debit payment set for Birdwingo. What Should I Do?
We recommend canceling your standing orders or other recurring payments in your bank. Birdwingo will not be able to accept new deposits from March 1, 2025.
I Like Birdwingo. When and How Can I Continue Using It?
Birdwingo, as a standalone investment app, is ending and will no longer be available to the public. Thank you for your support 💜.
I Deposited Money from Multiple Bank Accounts. To Which Account and in What Currency Will My Money Be Sent?
Unless you specify otherwise, Birdwingo will send your money to the first bank account from which you deposited funds. For withdrawals submitted before March 1, transfers are made in EUR or CZK, depending on the IBAN country. If you have multiple registered accounts in Birdwingo and wish to withdraw funds to a specific account, you can manually sell your securities and select the bank account for the withdrawal. Please ensure your bank account is still active and that its details have not changed. Withdrawals in USD or other currencies are, unfortunately, not possible.
Does Birdwingo Charge a Fee for Portfolio Transfers or Opening a New Account with Alpaca?
Birdwingo does not charge any fees for this service and does not receive any compensation for transferring clients to third parties. However, third parties, including Alpaca or other brokers, may charge additional fees for their services. It’s important to carefully review all investment-related fees.
What is the fee for transferring a portfolio from Birdwingo (Alpaca) to another broker?
Birdwingo does not charge any fees for full or partial transfers of securities. Alpaca, however, charges $100 for each full or partial transfer. Please consult Alpaca’s up-to-date pricing page for additional details.