You've had a successful run on Webull, and now it's time to enjoy the fruits of your labor! Cashing out your stocks on Webull and transferring those funds to your bank account is a straightforward process, but it involves a few key steps to ensure a smooth and secure transaction.
So, are you ready to unlock your profits and move them to your personal bank account? Let's dive in!
Cashing Out Stocks on Webull: Your Step-by-Step Guide
Before you can withdraw money, you typically need to sell the stocks you wish to cash out. Webull primarily supports ACH (Automated Clearing House) transfers for withdrawals, which move funds directly to your linked bank account.
Step 1: Selling Your Stocks (If You Haven't Already)
This is the very first and most crucial step. You can't withdraw money that's still invested in stocks!
How to Sell Stocks on the Webull Mobile App:
Open the Webull App: Launch the Webull application on your smartphone.
Navigate to Your Account: Tap the Webull logo (the circular icon) at the bottom center of the screen. This will take you to your main account page.
Access Your Positions: On your account page, look for the "Positions" tab. This tab lists all the stocks and other securities you currently hold.
Select the Stock to Sell: Carefully browse through your positions and tap on the specific stock you want to sell.
Initiate the Sell Order: Once you've selected the stock, you'll see details about it. Look for a "Sell" or "Sell to Close" button and tap it.
Enter Order Details:
Quantity: Specify how many shares of the stock you want to sell.
Order Type: Choose your desired order type. For a quick sale at the current market price, a "Market Order" is usually sufficient. If you want to sell at a specific price, you might opt for a "Limit Order."
Time in Force: This determines how long your order remains active. For most immediate sales, "Day" is common.
Review and Confirm: Double-check all the details of your sell order. Make sure the quantity, order type, and price (if a limit order) are exactly as you intend. Then, tap "Confirm" or "Place Order."
Important Note on Settlement Period:
Once you sell your stocks, the funds aren't immediately available for withdrawal. There's a settlement period, which is the time it takes for the trade to officially complete and for the funds to be transferred. For US equities and options, the settlement period is generally T+1, meaning the funds will settle one business day after the trade date. For example, if you sell on a Monday, the funds will be settled and available for withdrawal on Tuesday.
Step 2: Ensuring Funds are Available for Withdrawal
Even after your stocks are sold, there are a few things to confirm before initiating the withdrawal.
Sub-heading: Check Your Available Balance
Return to Account Page: Go back to your main account page on the Webull app (by tapping the Webull logo).
Locate "Total Account Value" / "Cash Balance": You'll see your "Total Account Value" and a breakdown of your funds. Look for your "Cash Balance" or "Withdrawable Cash." This is the amount that is settled and ready for withdrawal.
Settlement is Key: If you've just sold stocks, the amount might not immediately reflect in "Withdrawable Cash." Remember the T+1 settlement period. Patience is a virtue here!
Sub-heading: Verify Your Linked Bank Account
Webull only allows withdrawals to verified bank accounts in your name. This is a crucial security measure to prevent fraud.
Access Transfer Menu: From your account page, tap on "Transfers" and then "Transfer Money."
Check Linked Accounts: You should see your linked bank account(s) listed. If you haven't linked one yet, or if your linked account needs re-verification (e.g., due to recent bank information changes), you'll need to do so.
Linking a New Bank Account (if necessary):
Webull typically uses instant verification (logging into your bank through a secure portal) or micro-deposits (Webull sends small deposits to your bank, which you then verify). Follow the on-screen prompts for your chosen method.
Crucial Reminders:
The bank account must be in your name (or a joint account where you are a named owner). Webull does not support third-party withdrawals.
Ensure the routing number and account number are absolutely correct. Incorrect information will lead to failed transfers.
Step 3: Initiating the Withdrawal Request
Now that your funds are settled and your bank account is linked, you can finally request the withdrawal.
How to Withdraw Funds on the Webull Mobile App:
Go to "Transfers": From your account page, tap "Transfers."
Select "Transfer Money": Tap on "Transfer Money."
Switch Transfer Direction: You'll likely see a screen for deposits. Look for a switch button or an arrow to change the transfer direction. You want the "From:" field to show your Webull account and the "To:" field to show your external bank account.
Enter Withdrawal Amount: Carefully enter the amount you wish to withdraw. Make sure it doesn't exceed your "Withdrawable Cash" balance.
Select Funding Account: Confirm that the correct linked bank account is selected as the destination.
Review and Submit: A summary of your withdrawal request will appear. Review all the details one last time: the amount, the destination bank account, and any potential fees (though ACH withdrawals are generally free on Webull).
Confirm Submission: Tap "Submit" or "Confirm" to finalize your withdrawal request.
Sub-heading: Understanding Withdrawal Limits and Processing Times
Daily Limits: Webull typically has a daily limit for ACH withdrawals. As of the latest information, the daily limit for ACH withdrawals is often around $50,000. If you need to withdraw more than this, you may need to make multiple withdrawals over several business days.
Processing Time: ACH withdrawals usually take 2-3 business days to process and appear in your bank account. Keep in mind that this doesn't include weekends or public holidays. If you submit a request after the daily cutoff time (e.g., 4:00 PM EST), it will be processed on the next business day.
First-Time Withdrawals: Sometimes, first-time withdrawals, or withdrawals to a bank account different from the one used for recent deposits (within the last 60 days), might require additional verification and could take slightly longer.
Step 4: Tracking Your Withdrawal
Once you've submitted your request, you can monitor its progress.
Navigate to Recent Activity: On the Webull mobile app, go to "Transfers" and then "Recent Activity."
Check Status: Here, you'll see the status of your withdrawal request, including the estimated settlement date. This section provides real-time updates on your transaction's progress.
Step 5: Troubleshooting Common Issues
While the process is generally smooth, you might encounter some hiccups.
Sub-heading: Common Reasons for Failed Withdrawals
Insufficient Funds: This is the most common reason. Ensure the amount you're trying to withdraw is indeed available as "Withdrawable Cash" and has settled.
Daily Limit Exceeded: If your withdrawal amount is over the daily ACH limit, it will be rejected.
Different Bank Accounts: If you're trying to withdraw to a bank account that wasn't used for a recent deposit (within the last 60 days), Webull may require additional verification or temporarily hold the funds due to Anti-Money Laundering (AML) regulations. If your original bank account is closed, you'll need to contact Webull support with documentation.
Incorrect Bank Details: An invalid routing number (ABA code) or account number will cause the transfer to fail. Always double-check these.
Expired ACH Link: If you've recently changed banking information (like password or email), your linked account might need to be re-linked. Unlinking and relinking the bank account in the app can often resolve this.
Recent ACAT Activity: If you transferred assets to Webull via ACATS (Automated Customer Account Transfer Service), there might be a withdrawal hold period of up to 30 days after the transfer has settled.
Third-Party Accounts: Webull does not permit withdrawals to third-party bank accounts or payment platforms. The account must be in your name.
Currency Mismatch: If you sold shares in a foreign currency (e.g., USD from US stocks) but your linked bank account is in a different currency (e.g., AUD), you might need to perform a currency conversion within the Webull app before withdrawing.
Sub-heading: When to Contact Webull Support
If you've checked all the above and are still facing issues, it's time to reach out to Webull's customer support.
In-App Help Center: Webull's app has a built-in help center where you can find FAQs and submit support tickets.
Email: You can email their support team.
Phone: For urgent issues, you might consider calling their customer service line.
Frequently Asked Questions (FAQs) about Cashing Out on Webull
Here are 10 common questions with quick answers to help you navigate the Webull cash-out process:
How to check my withdrawable balance on Webull?
Go to your Webull app, tap the Webull logo (bottom center), and then look for your "Cash Balance" or "Withdrawable Cash" on your account page.
How to link a new bank account for withdrawals on Webull?
From your Webull account, go to "Transfers," then "Transfer Money," and follow the prompts to add a new bank account using instant verification or micro-deposits.
How to speed up Webull withdrawals?
You generally cannot speed up standard ACH withdrawals, which typically take 2-3 business days. Ensure your bank account is verified and funds have fully settled (T+1 for US stocks) before initiating.
How to avoid withdrawal fees on Webull?
Webull generally does not charge fees for standard ACH withdrawals to US bank accounts. However, wire transfers (if available) or international transfers may incur fees.
How to withdraw money if my linked bank account is closed?
Contact Webull customer support immediately. You will likely need to provide documentation proving the old account is closed and your new bank account details.
How to track the status of my Webull withdrawal?
On the Webull app, go to "Transfers" and then "Recent Activity" to see the real-time status and estimated settlement date of your withdrawal.
How to fix a failed Webull withdrawal due to insufficient funds?
Ensure the amount you are trying to withdraw does not exceed your "Withdrawable Cash" balance, which accounts for settled funds. Wait for any recent stock sales to fully settle (T+1).
How to withdraw funds transferred via ACATS on Webull?
Funds transferred to Webull via ACATS may be subject to a withdrawal hold period of up to 30 days after the transfer has settled. You'll need to wait for this period to pass.
How to change my withdrawal currency on Webull?
If you've sold foreign shares and have funds in a foreign currency, you may need to perform a currency conversion within the Webull app before you can withdraw to a local currency bank account. Look for currency exchange options within the app.
How to withdraw money from Webull without selling stocks?
You can only withdraw your available cash balance. If your money is invested in stocks, you must sell those stocks first to convert them into a withdrawable cash balance.
