Your Guide to Cashing Out: How to Take Money Out of Your Webull Account
Hey there, Webull users! Ever found yourself wondering how to get that hard-earned money from your investments back into your bank account? You're not alone! While Webull makes it easy to deposit funds and dive into the market, navigating the withdrawal process can sometimes feel a little less straightforward. But fear not! This comprehensive guide will walk you through every step of withdrawing money from your Webull account, ensuring a smooth and hassle-free transfer.
Let's get started, shall we?
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| How To Take Money Out Of Your Webull Account |
Step 1: Confirm Your Funds Are Ready to Be Withdrawn
Before you even think about hitting that "withdraw" button, it's crucial to understand a few things about your funds. Not all money in your Webull account is immediately available for withdrawal.
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Sold Positions Settlement: Did you just sell some stocks or other assets? Great! But remember, the funds from these sales don't become instantly available. There's a settlement period, typically T+2 business days (Trade date plus two business days). This means if you sell on Monday, the funds generally settle and are available for withdrawal on Wednesday. Trying to withdraw unsettled funds will likely result in a rejection.
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Recent Deposits: If you've recently deposited money into your Webull account, especially via ACH transfer, there's usually a holding period. Webull grants provisional buying power, but to withdraw those funds, they need to fully clear. For ACH deposits, this can take 2-5 business days. Wire transfers usually clear much faster, often within 1-2 business days. If you're trying to withdraw funds that were deposited very recently, you might encounter a hold due to anti-money laundering (AML) rules. In some cases, if you deposited from one bank account and try to withdraw to a different one within 60 days, Webull might require additional verification or even restrict the withdrawal.
Pro-Tip: Always check your "Available for Withdrawal" balance within the Webull app or on the desktop platform before initiating a withdrawal request. This will save you time and frustration!
Step 2: Ensure Your Bank Account is Properly Linked and Verified
Webull primarily supports withdrawals via ACH (Automated Clearing House) transfers to your linked bank account. This means you need to have a bank account connected and verified.
Sub-heading 2.1: Linking a Bank Account (If You Haven't Already)
If you haven't linked a bank account, or you want to use a different one, here's how:
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Open the Webull App: Tap the Webull logo (usually at the bottom center of your screen).
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Navigate to Transfers: At the top of the screen, tap on "Transfers."
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Initiate Withdrawal: Select "Withdraw" and choose your withdrawal currency.
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Add Bank Account: Look for an option like "Add Bank Account" or "Manage Bank Accounts." You'll need to input your bank details, including your full name, bank name, account number, and routing number (ABA code).
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Provide Proof (if requested): Webull may ask for proof of ownership for your bank account, such as a recent bank statement (dated within the last 6 months) showing your name, bank logo, and account number. Remember, withdrawals must be made to an individual bank account in your name. Webull does NOT accept third-party bank accounts or payment platforms.
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Verification Time: Linking and unlinking bank accounts can take up to 24 hours for approval. Be patient!
Sub-heading 2.2: Changing or Unlinking a Bank Account
Tip: Stop when confused — clarity comes with patience.
If you need to change the bank account linked for withdrawals, you'll first need to unlink the existing one.
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Follow Steps 1-3 from Sub-heading 2.1.
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Select the Linked Account: Tap the ">" symbol next to the bank account you wish to remove.
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Remove Account: Follow the prompts to remove or unlink the bank account.
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Add New Account: Once the old account is unlinked, you can proceed to add your new bank account as described in Sub-heading 2.1.
Step 3: Initiating the Withdrawal Request
Once your funds are settled and your bank account is linked, you're ready to make that withdrawal! The process is fairly intuitive across Webull's platforms (mobile app, desktop, and web).
Sub-heading 3.1: On the Webull Mobile App (Most Common)
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Access Your Account: Tap the Webull logo at the bottom center of your screen. This will take you to your account overview.
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Go to Transfers: At the top of your account screen, tap on "Transfers."
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Select "Withdraw": You'll see options for "Deposit," "Withdraw," and "Transfer." Tap on "Withdraw."
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Choose Withdrawal Currency: If applicable, select the currency you wish to withdraw (e.g., USD).
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Input Withdrawal Amount: Enter the exact amount you want to withdraw. Make sure it's within your "Available for Withdrawal" balance and the daily limit (typically $50,000 for ACH).
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Confirm Bank Account: Double-check that the "To:" field displays your correct linked bank account.
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Review and Submit: Tap "Review" or "Submit Withdrawal Request." You'll likely be asked to confirm the details, possibly with a password or biometric authentication.
Sub-heading 3.2: On the Webull Desktop Platform
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Log In: Access your Webull account on the desktop application.
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Navigate to Account: Hover over the icons on the left-hand side of the screen. Click on "Account" (you might need to click "More" if it's hidden).
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Select "Withdraw": Within the "Banking" widget, you should see a "Withdraw" option. Click it. This will often redirect you to the transfer money page on the web.
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Choose Funding Account: In the "To:" field, select your linked bank account.
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Enter Amount: Input the desired withdrawal amount.
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Review and Submit: Click "Review" and then "Submit."
Sub-heading 3.3: On the Webull Website
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Log In: Go to the Webull website and log in to your account.
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Go to My Account: Look for "My Account" (usually in the top right corner).
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Select "Transfer Money": Click on "Transfer Money."
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Switch Transfer Direction: You'll see a switch button to change the transfer direction. Ensure it's set to withdraw funds from your Webull account.
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Choose Funding Account: Select your linked bank account in the "To:" field.
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Enter Amount: Input the amount you wish to withdraw.
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Review and Submit: Click "Review" and then "Submit."
Step 4: Understanding Withdrawal Times and Fees
Once you've submitted your request, the waiting game begins. Here's what to expect:
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Sub-heading 4.1: ACH Withdrawal Times
Tip: Share this article if you find it helpful.
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Processing Time: ACH withdrawals typically take 2-3 business days to process and appear in your bank account. Some sources say 1-3 business days.
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Cut-off Times: Be aware of daily cut-off times (often 4:00 PM EST). Requests submitted after this time will be processed on the next business day.
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Bank Processing: The exact settlement time can vary slightly depending on your receiving bank.
Sub-heading 4.2: Wire Transfer Withdrawals (Less Common, but Faster)
While ACH is the primary method, Webull does support wire transfers for deposits. For withdrawals, ACH is the main way. If a wire transfer withdrawal option is available to you, it's generally faster:
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Domestic Wire Transfers: Typically take 1-2 business days.
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International Wire Transfers: Can take up to 5 business days.
Sub-heading 4.3: Withdrawal Fees
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ACH Withdrawals: Generally free for domestic transfers.
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Wire Transfer Withdrawals: Webull's partner bank may charge fees for wire transfers. Domestic wire withdrawals can cost around $50, while international wire withdrawals might be around $100. These fees are typically borne by the client.
Step 5: Tracking Your Withdrawal
It's natural to want to know the status of your money!
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In the Webull App: Go to "Transfers" and then "Recent Activity." This section provides real-time updates on your transaction's progress, including estimated settlement dates.
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Check Your Bank Account: Keep an eye on your linked bank account for the funds to appear.
Important Considerations and Troubleshooting
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Insufficient Funds: Make sure the amount you're trying to withdraw is truly available for withdrawal. Don't confuse it with your total account value or unsettled funds.
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Daily Limits: There's usually a daily ACH withdrawal limit, often around $50,000. If you need to withdraw more, you'll have to do it in multiple transactions over several days.
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Different Bank Accounts: If you're trying to withdraw to a bank account that's different from where your recent deposits originated (especially within the last 60 days), Webull might flag it for additional verification due to security and AML protocols. In such cases, contact Webull support.
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Invalid Bank Details: Double-check your routing and account numbers when linking your bank. Incorrect information will lead to failed transfers.
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Expired ACH Link: If you've recently changed your bank password or other key information, your ACH link might have expired. You'll need to relink your bank account.
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Recent ACAT Activity: If you transferred assets into Webull via ACATS (Automated Customer Account Transfer Service), there might be a withdrawal hold period of up to 30 days after the transfer settles.
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Third-Party Accounts: As mentioned, Webull only allows withdrawals to bank accounts in your name. Do not attempt to withdraw to a friend's account, a trust account, or a payment platform like PayPal (unless it's directly linked and recognized by Webull as a valid individual account in your name, which is rare for direct withdrawals).
By following these steps and keeping these considerations in mind, you'll be able to successfully withdraw funds from your Webull account whenever you need them. Happy investing!
Frequently Asked Questions (FAQs)
Here are 10 common questions about withdrawing money from Webull, with quick answers:
QuickTip: Skim the intro, then dive deeper.
How to check my available withdrawal balance on Webull?
You can typically find your "Available for Withdrawal" balance within the Webull app under your account overview or within the "Transfers" section.
How to link a new bank account for withdrawals on Webull?
Go to the "Transfers" section in the Webull app, tap "Withdraw," and then select "Add Bank Account" to enter your new bank details and potentially upload verification documents.
How to know if my funds are settled on Webull?
Funds from stock sales usually settle in T+2 business days. You'll see them reflected in your "Available for Withdrawal" balance once settled.
How to withdraw money from Webull to PayPal?
Webull generally does not support direct withdrawals to third-party payment platforms like PayPal. Withdrawals are primarily to your linked individual bank account.
How to cancel a pending withdrawal on Webull?
If your withdrawal request is still pending and hasn't been processed, you might be able to cancel it from the "Recent Activity" section within "Transfers." If not, contact Webull support immediately.
QuickTip: Look for contrasts — they reveal insights.
How to avoid withdrawal delays on Webull?
Ensure your bank account is correctly linked and verified, withdraw only settled funds, and be aware of daily cut-off times and any recent deposit holds.
How to change my linked bank account on Webull for withdrawals?
First, you'll need to unlink your current bank account via the "Transfers" -> "Withdraw" section, and then proceed to add your new bank account.
How to check the status of my Webull withdrawal?
You can track the status of your withdrawal by going to "Transfers" and then "Recent Activity" within the Webull mobile app.
How to deal with a rejected Webull withdrawal?
Check the reason for rejection (e.g., insufficient funds, incorrect bank details, withdrawal to a third-party account). Correct the issue and resubmit, or contact Webull support for assistance.
How to withdraw money from Webull using a wire transfer?
While ACH is the primary method, if a wire transfer option is available, you would typically initiate it through the "Withdraw" section, similar to an ACH, but selecting the wire transfer option if presented. Be aware of higher fees for wire transfers.
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