Ready to turn those Webull free shares into tangible cash? It's a common and exciting goal for many new investors who've taken advantage of Webull's generous referral programs and sign-up bonuses. While getting the free shares is the easy part, knowing how to effectively withdraw the funds can sometimes feel a bit more complex. But don't worry, we're here to guide you every step of the way!
This comprehensive guide will break down the entire process, from understanding the initial requirements to navigating the actual withdrawal steps. We'll cover everything you need to know to successfully access your funds.
Unlocking Your Webull Free Shares: A Step-by-Step Guide to Withdrawal
Before you can withdraw, there are a few important things to understand about your free shares and the Webull platform. Let's dive in!
Step 1: Understanding Your Free Shares and Webull's Rules
Hey there, aspiring investor! So, you've got those shiny new free shares from Webull. That's fantastic! But before you can treat yourself, there are a few key things to consider. Are you ready to make the most of your freebies?
Sub-heading: The "Free" Isn't Always Instantly Yours
It's crucial to remember that while the shares are "free," they often come with certain conditions attached, especially regarding when you can sell them and withdraw the proceeds.
Settlement Period: Once you sell any stock (including your free shares), the funds from that sale aren't immediately available for withdrawal. There's a standard "settlement period," which is typically T+2 business days (Trade date + 2 business days). This means if you sell on Monday, the cash will usually settle and be available for withdrawal by Wednesday.
Promotion Terms: If your free shares were part of a specific promotion (e.g., "deposit $100 and get X free shares"), there might be additional holding periods or minimum deposit requirements that need to be met before you can withdraw any associated funds. Always review the terms and conditions of the specific promotion that granted you the shares.
Account Status: Ensure your Webull account is fully verified and in good standing. Any pending verification steps or issues could delay your withdrawal.
Sub-heading: Cash vs. Shares
You can't directly "withdraw shares." You must first sell your free shares within your Webull account, converting them into cash. Only then can you withdraw that cash to your linked bank account.
Step 2: Selling Your Free Shares on Webull
This is where you convert your valuable free shares into withdrawable cash. It's a straightforward process, just like selling any other stock on the platform.
Sub-heading: Accessing Your Portfolio
Open the Webull App: Launch the Webull mobile application on your smartphone.
Navigate to your Account: Tap on the Webull logo (usually at the bottom center of the screen) to access your account dashboard.
Find Your Positions: Look for a section like "Positions" or "Holdings" to see all the stocks you own, including your free shares.
Sub-heading: Executing the Sell Order
Select the Stock: Tap on the specific stock (your free share) you wish to sell. This will take you to the stock's detail page.
Tap "Trade": On the stock's detail page, you'll typically find a "Trade" or "Buy/Sell" button. Tap on it.
Choose "Sell": Select the "Sell" option.
Enter Quantity: Input the number of shares you want to sell. If you want to sell all your free shares, enter the full quantity.
Choose Order Type: For a quick sale, a Market Order is generally the easiest, as it sells at the current market price. If you want more control over the selling price, you can use a Limit Order.
Review and Confirm: Double-check all the details of your sell order (stock, quantity, order type) and then tap to confirm.
Congratulations! You've successfully sold your free shares. Now, let's wait for that cash to settle.
Step 3: Linking and Verifying Your Bank Account (If Not Already Done)
Webull can only support withdrawals to a valid, individual bank account in your name. You cannot withdraw to third-party accounts or e-wallets.
Sub-heading: Adding a Bank Account
Go to Transfers: From the Webull app's main screen, tap the Webull logo at the bottom.
Tap on "Transfers" at the top of the screen.
Select "Withdraw".
Add a Bank Account: If you haven't already linked a bank account for withdrawals, you'll be prompted to "Add a Bank Account" or similar.
Enter Bank Details: You will need to provide your bank's routing number and your account number. Make sure these are accurate to avoid any delays or issues.
Verification Process: Webull will likely initiate a small deposit or two (micro-deposits) to your bank account to verify it. You'll need to confirm these amounts within the Webull app to complete the verification. This step is crucial and ensures your funds go to the correct account.
Sub-heading: Important Notes on Bank Accounts
Withdrawals can only be made to your individual bank account.
You may link up to 5 bank accounts to your Webull account.
If you've recently deposited funds from a different bank account within the last 60 days, Webull might require additional verification for withdrawals to a new account, in compliance with AML (Anti-Money Laundering) rules.
Step 4: Initiating the Withdrawal Request
Once your cash from selling the shares has settled (T+2 business days after the sale) and your bank account is linked and verified, you're ready to initiate the withdrawal!
Sub-heading: Submitting Your Request via the Webull App
Tap the Webull Logo: Again, tap the Webull logo at the bottom of the screen.
Tap "Transfers" at the top.
Tap "Withdraw" and select your Withdrawal Currency (e.g., USD).
Select Bank Account: If you have multiple linked accounts, select the one where you wish to receive the funds.
Input Withdrawal Amount: Enter the amount of cash you want to withdraw. Be mindful of any minimum withdrawal amounts (e.g., USD $50 for TT withdrawals, no stated minimum for ACH). You can find the exact available-for-withdrawal amount in your account details.
Tap "Submit Withdrawal Request".
Tap "Confirm".
Sub-heading: Withdrawal Methods and Limits
Webull primarily supports ACH (Automated Clearing House) transfers for withdrawals to US bank accounts. Wire transfers are also an option but typically incur higher fees.
ACH Withdrawals:
Daily Limit: Up to $50,000.
Processing Time: Typically takes 2-3 business days to process and appear in your bank account.
Cost: Generally free for ACH withdrawals.
Wire Transfers:
Processing Time: Domestic wire transfers usually take 1-2 business days. International wires can take up to 5 business days.
Cost: Wire transfer withdrawals incur a fee, typically $25.00 for US bank accounts and $45.00 for non-US bank accounts.
Minimum Withdrawal: For TT withdrawals, there's a minimum of USD $50 (or SGD $50, HKD $300, etc., depending on currency).
Step 5: Tracking Your Withdrawal and Troubleshooting
Once you've submitted your request, the waiting game begins. But you can monitor its progress.
Sub-heading: Monitoring Your Transfer Status
Access Recent Activity: In the Webull mobile app, go to "Transfers" and then "Recent Activity."
This section provides real-time updates on your transaction's progress and often an estimated settlement date.
Sub-heading: Common Reasons for Withdrawal Failure and Troubleshooting
Insufficient Funds: Double-check the available for withdrawal balance in your account. Remember the settlement period!
Daily Limit Exceeded: If your withdrawal amount exceeds the daily ACH limit, try breaking it into smaller requests or waiting for the current one to process.
Different Bank Accounts: If you're withdrawing to a bank account different from your recent deposit source (within 60 days), extra verification might be needed. Contact Webull support if your original bank account is closed.
Invalid Bank Details: Ensure your ABA code (routing number) and account number are correct. Relinking your bank account might be necessary if the link has "gone stale" or if you've changed banking information.
Recent ACATS Activity: If you recently transferred assets into Webull via ACATS, there might be a withdrawal hold period of up to 30 days.
Third-Party Accounts: Webull will not process withdrawals to third-party bank accounts or payment platforms.
If you encounter persistent issues, don't hesitate to contact Webull Customer Service through their in-app help center or by calling their support number. Providing screenshots of any error messages can greatly assist their team.
Frequently Asked Questions (FAQs)
Here are 10 common questions about withdrawing funds from Webull, specifically concerning free shares:
How to sell my free shares on Webull?
To sell your free shares, open the Webull app, go to your "Positions," select the free share stock, tap "Trade," choose "Sell," enter the quantity, select an order type (like "Market Order"), and confirm the transaction.
How to link a bank account for withdrawal on Webull?
From the Webull app, tap the Webull logo > "Transfers" > "Withdraw" > "Add a Bank Account." You'll then input your bank's routing and account numbers and likely complete a micro-deposit verification process.
How to check if my funds from selling free shares are settled?
After selling shares, the funds typically settle in T+2 business days. You can check your "Available to Withdraw" balance in your Webull account or go to "Transfers" > "Recent Activity" for status updates.
How to initiate an ACH withdrawal on Webull?
Once your funds are settled and your bank account is linked, tap the Webull logo > "Transfers" > "Withdraw." Select your verified bank account, enter the desired withdrawal amount, and submit the request.
How to track my Webull withdrawal status?
You can track the status of your withdrawal by going to "Transfers" > "Recent Activity" within the Webull mobile application.
How to know the minimum withdrawal amount on Webull?
For ACH withdrawals to US bank accounts, there isn't a widely stated minimum, but for TT (Telegraphic Transfer/Wire) withdrawals, there's typically a minimum of $50 USD.
How to find out Webull's withdrawal fees?
ACH withdrawals to US bank accounts are generally free. However, wire transfers incur fees: $25 for domestic US wires and $45 for international wires.
How to resolve a failed withdrawal on Webull?
Check for common issues like insufficient settled funds, exceeding daily limits, or incorrect bank details. If the problem persists, contact Webull customer service with details and screenshots of any error messages.
How to withdraw money to a new bank account on Webull if my old one is closed?
If your previously linked bank account is closed, you will need to contact Webull customer support. They may require documentation proving the old account's closure and the new account's ownership to facilitate the withdrawal to the new account.
How to transfer my Webull shares to another brokerage instead of withdrawing cash?
This is known as an ACATS (Automated Customer Account Transfer Service) transfer. Webull charges a fee for transferring shares out (typically $75 per transfer). You would initiate this transfer from the receiving brokerage (the one you want to move the shares to), providing them with your Webull account details.