Many readers of this blog will have a COIN Brokerage account due to the fact they offered a $50 bonus when investing $100+ bonus. If you still have funds in that account you’ll want to withdraw them ASAP, as COIN is shutting down. In an e-mail to account holders:
Dear [First Name],
Thank you for your commitment to conscious investing through COIN. Today, we’re reaching out to let you know that John Hancock Personal Financial Services, LLC recently made the difficult decision to no longer support the COIN product. This announcement is reflected in our updated disclosure document, Form ADV (the “Brochure”), which you can access here.
As of today, March 29, 2021, you will no longer be able to make changes to your impact area or make deposits to your account. Any recurring deposits you have scheduled have been canceled. On May 28, 2021, COIN will close. Before this date, log in to COIN and make sure your linked bank account and mailing address on file are up to date, then take one of the following actions to close your account:
Withdraw your account balance in full.1
– OR –
Transfer the securities in your account to another brokerage account.
If you do not take action to close your account before May 28, 2021, we will liquidate the securities in your COIN account regardless of market conditions and send the balance to your bank account on file. 1
John Hancock Personal Financial Services, LLC