Automated Customer Account Transfer Service (ACATS) in Australia 2025

Transferring your investment portfolio from one institution to another used to be a tedious, paper-heavy process. But in 2025, the Automated Customer Account Transfer Service (ACATS) is reshaping the landscape for Australian investors. With more Australians investing and switching platforms for better fees or features, ACATS is delivering the speed, transparency, and security today’s investors expect.

What Is ACATS and Why Does It Matter?

ACATS, originally designed for the US market, is now gaining traction in Australia as brokerages, banks, and fintech platforms push for frictionless account portability. The service automates the transfer of assets—shares, managed funds, and even some cash holdings—between financial institutions without manual paperwork or endless waiting.

• Speed: Transfers that once took weeks now complete in as little as 2–5 business days.

• Accuracy: Automated checks minimise human error and reduce lost or misallocated assets.

• Transparency: Customers can track progress in real time, often through their new provider’s app or portal.

In 2025, several major Australian platforms—including CommSec, SelfWealth, and new digital-first brokers—have rolled out ACATS-compatible processes, often as part of a broader effort to attract switchers in an increasingly competitive market.

2025 Policy Updates: Stronger Protections and Faster Transfers

This year, the Australian Securities & Investments Commission (ASIC) tightened regulations around account portability, responding to consumer complaints about delays and unclear processes. Key updates include:

• Mandatory transfer timelines: Providers must process ACATS requests within five business days, barring exceptional circumstances.

• Enhanced consumer notifications: Both sending and receiving institutions are now required to provide status updates at each stage of the transfer.

• Data security standards: With cyber threats on the rise, 2025 ACATS protocols include mandatory encryption and two-factor authentication for all transfer-related communications.

These policy changes are designed to prevent the ‘black hole’ effect—where customers lose visibility after submitting transfer requests—and protect sensitive financial information throughout the process.

Real-World Impacts: Who Benefits Most?

ACATS is a win for everyday investors, financial advisers, and even industry newcomers:

• Individual investors can quickly consolidate old superannuation or brokerage accounts, potentially saving on duplicate fees.

• SMSF trustees benefit from streamlined asset transfers when switching administrators or platforms, supporting compliance and audit readiness.

• Fintech startups can attract new customers with instant onboarding and low-friction switching, levelling the playing field with established banks.

Consider the case of Emma, a Sydney-based investor who recently moved her portfolio from a legacy bank to a low-cost digital broker. Thanks to ACATS, Emma’s ASX shares and managed funds were transferred in under a week—with live tracking available in her app. “I didn’t have to chase anyone or fill out endless forms. It just happened,” she says. Stories like Emma’s are becoming the norm as the industry embraces automated transfers.

Key Considerations Before Making the Switch

While ACATS makes life easier, it’s not a silver bullet. Here are some factors to weigh before initiating a transfer:

• Asset compatibility: Some illiquid or unlisted assets may not be supported by ACATS and will require manual intervention.

• Fee awareness: Check for exit fees, transfer charges, or potential tax implications before moving assets.

• Provider support: Not all Australian institutions have adopted ACATS. Confirm both your old and new providers are on board to avoid delays.

Despite these caveats, the industry’s direction is clear: automated, consumer-centric transfers are fast becoming the norm, driven by both regulatory pressure and customer demand.

The Future of Account Portability in Australia

With ACATS laying the foundation, expect further innovation in the next 12–18 months. Watch for:

• Broader asset coverage, including crypto and alternative investments

• Greater integration with superannuation platforms

• Real-time transfer capabilities as open banking infrastructure matures

For Australian investors, account switching is no longer the administrative headache it once was. Whether you’re seeking lower fees, better features, or simply a fresh start, ACATS ensures your assets move with you—securely and efficiently.