Passfolio is shutting down its operations next month and transferring some of its assets to SproutFinance.

In an email to its customers in over 100 countries, passfolio announced its imminent closure and cease of operations.

The company and its suite of investment products was a good one while it lasted.

Here are details of the email:


Passfolio is shutting down at the end of November 18, 2022.

Your Stock Account will migrate free of charge* to Sproutfi so you can continue investing. Sproutfi is a US registered broker-dealer with headquarters in Brazil and New York that is also partnered with DriveWealth just like Passfolio Securities. Additional information about the migration process can be found at https://welcome.sproutfi.com and Sproutfi will contact you in the coming days with additional info.

Our other services Passfolio Crypto, PassEarn, PassCard, and Smart Portfolio are closing. Please read below for more information.

What do you need to do?
Passfolio Stocks – Earlier today you received an email with complete information about the migration of your Stock Account to Sproutfi. All assets in your stock account (cash + stocks) will migrate automatically and free of charge* to Sproutfi. Additional information about the migration process can be found at https://welcome.sproutfi.com. The subject of the email you received is Passfolio Securities Account Migration to Northbound Securities. The last day you will be able to enter stock orders through Passfolio app is November 16, 2022. You will be able to trade via the Sproutfi app beginning November 18, 2022.

SmartPortfolio – Passfolio Adviser’s Smart Portfolio service will terminate on November 18, 2022 and we will stop managing the account. Following termination of the Smart Portfolio service, your account will be migrated to Sproutfi following the procedure described in the separate email mentioned above. The assets previously managed by Passfolio Advisers will remain in the account, and you will be able to manage them on a self-directed basis.

Passfolio Crypto – This account will NOT migrate to Sproutfi. You must do the following:

Sell your crypto holdings before November 5, 2022.

Transfer your funds to the Stock account so it will migrate to Sproutfi for free*, or withdraw to your bank account (TED, SPEI, WIRE, ACH – click here to see all the methods of withdrawal available).

On November 5, 2022 a $1 fee will be charged for the Passfolio Crypto service if the account is not empty.

On or shortly after November 5, 2022 cryptocurrencies you hold will be sold for USD and it will be returned to you by sending to your Stock Account or PassCard if possible and otherwise any other account we have on file for you.

PassEarn – This account will NOT migrate to Sproutfi. You must do the following:

Transfer your funds before November 5, 2022, to the Stock account so it will migrate to Sproutfi for free*, or withdraw to your bank account (TED, SPEI, WIRE, ACH – click here to see all the methods of withdrawal available).

The PassEarn service will terminate on October 31, 2022 and no additional interest will accumulate after that. The final interest distribution will be on November 1, 2022.

On November 5, 2022 or shortly thereafter any PassEarn balance you have will be returned to you by sending to your Stock Account or PassCard if possible and otherwise any other account we have on file for you.

PassCard – This account will NOT migrate to Sproutfi. You must do the following:

Transfer your funds to the Stock account before November 16, 2022 so it will migrate to Sproutfi for free*, or withdraw to your bank account (TED, SPEI, WIRE, ACH – click here to see all the methods of withdrawal available).

Any funds left in PassCard will be mailed to you as a US check to your registered mailing address. We highly recommend you transfer or withdraw your funds out of PassCard so you are not mailed a US check.

All deposits will be disabled night of November 14, 2022 and all internal transfers will be disabled the night of November 15, 2022. Foreign exchange service will end November 18, 2022.

If you have any questions, including about the operation and trades in your Passfolio account, please, reach out to our support team.


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