You've made some great investments, or perhaps you're just looking to access some of your funds from Webull. Whatever the reason, getting your money out of your Webull account is a straightforward process, but it involves a few key steps and considerations. Let's walk through it together, ensuring you have all the information you need for a smooth withdrawal.
Getting Your Cash Out of Webull: A Comprehensive Guide
Ready to access your funds? Excellent! Cashing out on Webull is a common task, and this guide will break down every step, from ensuring your funds are ready to hit your bank account to understanding potential timelines and fees.
Step 1: Are Your Funds Ready to Withdraw? Let's Check!
Before you even think about hitting that "withdraw" button, it's crucial to understand which funds are actually available for withdrawal. Have you recently sold stocks or ETFs? Remember, there's a settlement period!
What is Settlement? When you sell securities, the transaction doesn't instantly convert into immediately available cash. There's a period where the trade "settles." For most US equities and options, this is typically T+1, meaning the funds become available one business day after the trade date. For other markets like Australia or Hong Kong, it could be T+2.
Cash Management Accounts: If you've opted into Webull's Cash Management feature, you'll need to redeem your funds from this position first. This is a separate step before you can initiate a withdrawal to your bank account. Redemption usually takes 1-2 business days.
Currency Conversion: If you've sold US shares and want to withdraw in AUD (or another non-USD currency), you'll need to perform a currency conversion within the Webull app first.
Recent Deposits & Holds: If you've recently deposited funds via ACH, there might be a provisional period where a portion of the funds (often up to $1000) is available for trading, but the full amount may take 3-5 business days to fully clear before it's available for withdrawal. Also, assets transferred into Webull via ACATS (Automated Customer Account Transfer Service) can be subject to a withdrawal hold of up to 30 days.
Always double-check your "Funds Available for Withdrawal" in the Webull app before proceeding. This will save you time and frustration!
Step 2: Linking Your Bank Account (If You Haven't Already)
To withdraw funds, Webull requires a linked and verified bank account in your name. They do not support third-party bank accounts or payment platforms like PayPal for withdrawals.
Sub-heading 2.1: How to Link Your Bank Account
If your bank account isn't already linked, here's how to do it:
Open the Webull App: Tap the Webull logo (usually at the bottom center of your screen).
Navigate to Transfers: Select "Transfers" (often found at the top of the screen).
Find Bank Account Options: Look for "Bank Account" or a similar option.
Initiate Linking: Follow the prompts to add a new bank account. Webull typically offers two methods:
Instant Verification (Plaid): This is the quickest method, where you log in to your bank directly through Webull's secure integration with Plaid.
Micro-deposit Verification: If instant verification isn't an option or fails, Webull will send two small deposits (usually a few cents) to your bank account within 1-3 business days. You'll then need to return to the app and enter the exact amounts to verify your account. Credit Unions often have a higher success rate with micro-deposit verification.
Sub-heading 2.2: Important Considerations for Linked Accounts
Your Name Only: The bank account must be in your individual name or a joint account that includes your name.
Keep it Consistent: It's generally easier to withdraw to the same bank account from which you deposited funds. If you need to withdraw to a different account than the one used for recent deposits (within the last 60 days), additional verification may be required. If your original bank account is closed, you'll need to contact Webull support with documentation.
Expired Link? If you've recently changed bank details (password, email), your ACH link might expire. You'll need to relink your account.
Step 3: Initiating Your Withdrawal Request
Once your funds are settled and your bank account is linked, you're ready to make the withdrawal request! The process is similar across the Webull app, desktop, and web platforms.
Sub-heading 3.1: On the Webull Mobile App (Most Common Method)
Tap the Webull Logo: From the main screen, tap the circular Webull logo at the bottom center.
Go to Transfers: Select "Transfers" from the menu that appears at the top.
Choose "Withdraw": Tap on the "Withdraw" option.
Switch Transfer Direction: Ensure the "To:" field shows your external bank account. You might need to tap a switch button to change the transfer direction from deposit to withdrawal.
Enter Withdrawal Amount: Input the amount you wish to withdraw. Be mindful of daily limits! The daily limit for ACH withdrawals is typically $50,000 USD.
Review and Submit: Carefully review all the details of your withdrawal request. Make sure the amount is correct and the destination bank account is accurate. Then, tap "Submit."
Sub-heading 3.2: On the Webull Desktop Platform
Hover and Click "Account": On the left-hand side, hover over the icons and click "Account" (if hidden, click "More" first).
Select "Withdraw": Within the "Banking" widget, choose "Withdraw." This will take you to the transfer money page on the web.
Choose Funding Account: In the "To" field, select your external bank account.
Enter Amount & Review: Input the withdrawal amount and click "Review."
Submit: Once reviewed, click "Submit."
Sub-heading 3.3: On the Webull Web Platform
Navigate to "My Account": Look for "My Account" in the top right corner.
Select "Transfer Money": Click on "Transfer Money."
Switch Transfer Direction: Tap the switch button to change the direction to withdraw funds from your Webull account.
Choose Funding Account: In the "To" field, select your external bank account.
Enter Amount & Review: Input the withdrawal amount and click "Review."
Submit: Once reviewed, click "Submit."
Step 4: Understanding Withdrawal Processing Times
Patience is a virtue, especially when it comes to financial transfers. While Webull initiates the withdrawal quickly, the actual time it takes for funds to appear in your bank account depends on the processing times of both Webull and your receiving bank.
ACH Withdrawals: For standard ACH (Automated Clearing House) withdrawals, it typically takes 2-3 business days to process and for the funds to appear in your bank account. The daily cutoff time for ACH withdrawals is usually 4:00 PM EST. Requests submitted after this time will be processed on the next business day.
Real-Time Payment (RTP) Withdrawals: In some regions or for specific banks, Webull may offer RTP withdrawals. If available, you could receive your funds within 30 minutes. However, for first-time RTP requests, or requests made after 3 PM, on weekends, or public holidays, the transaction may be completed by 9 AM on the next business day.
Interbank GIRO (IBG) Withdrawals (Specific Regions): For IBG withdrawals, Webull typically processes your request within 3-5 hours, but receipt of funds is dependent on both banks. Requests after 3 PM on business days will be processed the next business day.
Tracking Your Transfer: You can usually track the status and estimated settlement date of your withdrawal by going to "Transfers" -> "Recent Activity" in the Webull mobile app. This section provides real-time updates.
Step 5: Fees and Limits
It's always good to be aware of any potential costs or restrictions.
Sub-heading 5.1: Withdrawal Fees
Basic ACH Withdrawals: Generally, basic ACH withdrawals on Webull are free of charge.
Wire Transfers: While ACH is the most common, if you opt for a wire transfer (often for larger amounts or faster processing, if available), there will be fees. These can vary, so check Webull's fee schedule for exact amounts.
International Withdrawals: For international transfers, there may be additional charges from intermediary banks or currency conversion fees.
Sub-heading 5.2: Withdrawal Limits
ACH Daily Limit: The typical ACH withdrawal daily limit on Webull is $50,000 USD. If you need to withdraw more, you might need to make multiple withdrawals over several business days or consider a wire transfer (if offered for your region and account type).
Minimum Withdrawal: While not extensively highlighted for US accounts, some regions (like Hong Kong) may have minimum withdrawal amounts (e.g., $10 USD for local bank transfers, $150 HKD for cross-border remittances). Check your specific region's Webull FAQ for details.
Step 6: Troubleshooting Common Withdrawal Issues
Sometimes, things don't go as planned. Here are some common reasons why a Webull withdrawal might fail and what to do:
Insufficient Funds: Are your funds settled? As mentioned in Step 1, unsettled funds cannot be withdrawn. Check your "Funds Available for Withdrawal."
Daily Limit Reached: If you've hit the $50,000 daily ACH limit, you'll need to wait for the current withdrawal to process (usually 1-2 business days) before attempting another.
Different Bank Accounts: If you're trying to withdraw to a bank account different from your deposit source within the last 60 days, Webull may require additional verification for AML (Anti-Money Laundering) compliance.
Invalid Bank Information: Double-check your linked bank account's ABA code (routing number) or SWIFT code. Ensure all details are correct.
Expired ACH Link: If you've changed bank account passwords or email addresses, your linked account may need to be relinked. Try unlinking and relinking your bank account in the app.
Recent ACAT Activity: If you transferred assets to Webull via ACATS, those assets might be subject to a withdrawal hold period of up to 30 days.
Third-Party Accounts: Webull strictly prohibits withdrawals to third-party accounts. Ensure the receiving bank account is in your name.
Currency Mismatch: If you sold shares in one currency (e.g., USD) and are trying to withdraw in another (e.g., AUD), ensure you've performed the necessary currency conversion within the app.
Cash Management Redemption: If your funds are in a cash management position, remember to redeem them first before attempting a withdrawal to your bank account.
If you encounter persistent issues, take a screenshot of any error messages and contact Webull's customer service through their in-app help center or email.
By following these steps, you should be able to successfully cash out your funds from Webull. Remember to be patient with settlement and processing times, and always ensure your bank account details are accurate!
Frequently Asked Questions (FAQs)
How to check if my Webull funds are settled and available for withdrawal?
You can check your "Funds Available for Withdrawal" directly in the Webull app. Navigate to "Account" then "Transfers" and then "Withdraw." The amount shown there is ready to be withdrawn.
How to speed up my Webull withdrawal?
For standard ACH withdrawals, there isn't a way to significantly speed them up beyond the typical 2-3 business days. If available in your region, Real-Time Payment (RTP) withdrawals can be faster (within 30 minutes), but eligibility depends on your bank and first-time requests might have a slight delay. Wire transfers are generally faster but come with fees.
How to withdraw all my money from Webull?
To withdraw all your money, ensure all your positions are closed and the funds have fully settled. Then, initiate an ACH withdrawal for the maximum available amount, keeping in mind the daily withdrawal limits.
How to link a new bank account for Webull withdrawals?
In the Webull app, go to the "Transfers" section, then "Deposit" or "Withdraw," and look for options to add or manage bank accounts. You can link a new account via instant verification (Plaid) or micro-deposits.
How to handle a failed Webull withdrawal?
First, review the common troubleshooting steps (settlement, limits, bank details). If the issue persists, take a screenshot of the error and contact Webull customer support via their in-app help center or email with the details.
How to withdraw crypto from Webull?
Webull currently does not support direct crypto withdrawals to external wallets. To "cash out" crypto, you typically need to sell your cryptocurrency holdings within Webull, which converts them to a cash balance (USD or your local currency), and then you can withdraw that cash to your linked bank account.
How to withdraw money from a Webull cash management account?
If your funds are in a cash management position, you must first "redeem" those funds within Webull. Once redeemed (which typically takes 1-2 business days), the cash will be available in your main Webull balance for withdrawal to your bank account.
How to avoid Webull withdrawal fees?
The simplest way to avoid withdrawal fees is to use the standard ACH withdrawal method, which is typically free for US accounts. Wire transfers usually incur fees.
How to withdraw funds if my linked bank account is closed?
If your previously linked bank account is closed, you'll need to contact Webull customer support. You'll likely be asked to provide documentation proving the old account is closed and that your new bank account is open and in your name.
How to check my Webull withdrawal history?
You can view your withdrawal history and transaction status by navigating to "Transfers" and then "Recent Activity" within the Webull mobile app. This section provides updates on all your transfer activities.
