You've made some great investments on Webull, and now it's time to enjoy the fruits of your labor! Congratulations on your success! Getting your money out of Webull is a straightforward process, but understanding the steps, potential fees, and timelines is crucial. This comprehensive guide will walk you through everything you need to know to confidently withdraw your funds.
How to Take Money Out of Webull: A Step-by-Step Guide
Ready to get started? Let's dive in!
Step 1: Ensure Your Funds Are Settled and Available for Withdrawal
Before you even think about hitting that "withdraw" button, it's essential to understand the concept of settled funds. When you sell a stock or an option, the funds aren't immediately available for withdrawal. There's a settlement period where the transaction officially clears.
What is Settlement? This is the time it takes for a trade to be finalized and the funds to become officially available in your account.
Settlement Periods:
US Stocks & Options: Typically T+1 business day (trade date plus one business day). This means if you sell on Monday, the funds should be settled and available on Tuesday.
Hong Kong Stocks: Typically T+2 business days.
Australian Equities: Typically T+2 business days.
Important Note: If you've recently deposited funds via ACH, there might be an additional holding period before those funds are eligible for withdrawal. Webull typically has a 6-business-day holding period for ACH deposits to fully clear before they can be withdrawn.
Checking Available Funds: To see how much cash you have available for withdrawal, navigate to your Webull app or desktop platform. Look for a section like "Account," "Transfers," or "Withdraw" to see your "Available to Withdraw" balance.
Step 2: Verify Your Linked Bank Account
Webull primarily facilitates withdrawals via bank transfers (ACH or Wire). You'll need a verified bank account linked to your Webull account.
Sub-heading: Linking a New Bank Account
If you haven't linked a bank account yet, or want to link a different one, here's how:
Open the Webull App: Tap the Webull logo at the bottom center of your screen.
Navigate to Transfers: Select "Transfers" from the menu.
Initiate Withdrawal: Tap "Withdraw" and then "Add Bank Account."
Enter Bank Details: You'll typically need to provide your:
Full Name (as it appears on your bank account)
Bank Name
Routing Number (ABA Code for US banks)
Account Number
Account Type (Checking or Savings)
Upload Verification (if required): Webull may ask for a copy of a recent bank statement (dated within the last 6 months, clearly showing your name, bank logo, BSB/routing number, and account number) to verify ownership.
Approval Time: Requests to link or unlink bank accounts can take up to 24 hours for approval.
Sub-heading: Confirming Your Existing Linked Account
To ensure your existing linked account is the correct one for withdrawal:
Access Transfers: Follow the same initial steps as linking a new account (Webull logo > Transfers).
Select Withdraw: Tap "Withdraw."
Review Linked Account: The linked bank account will be displayed. Double-check that it's the one you intend to use.
Crucial Reminder: Webull only allows withdrawals to bank accounts held in your name. Third-party bank accounts or payment platforms are NOT accepted.
Step 3: Initiate the Withdrawal Request
Once your funds are settled and your bank account is verified, you can proceed with the withdrawal. The steps vary slightly depending on whether you're using the mobile app, desktop platform, or web interface.
Sub-heading: On the Webull Mobile App
Tap Webull Logo: Tap the Webull logo (bottom center).
Go to Transfers: Select "Transfers."
Choose Withdraw: Tap "Withdraw Funds."
Select Currency (if applicable): If you hold multiple currencies, select the currency you wish to withdraw (e.g., USD, HKD).
Switch Transfer Direction: Ensure the "To:" field shows your external bank account. You might need to tap a "switch" button to change the direction from deposit to withdrawal.
Enter Amount: Input the desired withdrawal amount.
Review and Submit: Tap "Review" or "Review and Submit" to confirm the details.
Confirm Request: Follow any on-screen prompts to finalize your withdrawal.
Sub-heading: On the Webull Desktop Platform
Hover over Icons: Hover over the icons on the left-hand side.
Click Account: Select "Account" (or "More" if "Account" is hidden).
Select Withdraw: Within the "Banking" widget, click "Withdraw." This will often redirect you to the "Transfer Money" page on the web.
Choose Funding Account: In the "To" field, select your linked bank account.
Enter Amount: Input the amount you wish to withdraw.
Review and Submit: Click "Review," then "Submit."
Sub-heading: On the Webull Web Interface
Navigate to My Account: Click "My Account" in the top right corner.
Select Transfer Money: Choose "Transfer Money."
Switch Transfer Direction: Tap the "switch" button to ensure you're withdrawing from your Webull account.
Choose Funding Account: Select your linked bank account in the "To" field.
Enter Amount: Enter the withdrawal amount.
Review and Submit: Click "Review," then "Submit."
Step 4: Understand Withdrawal Timelines and Limits
Knowing how long your money will take to arrive and any limitations is crucial for planning.
Sub-heading: ACH (Automated Clearing House) Transfers
Processing Time: ACH withdrawals typically take 2-3 business days to process and appear in your bank account. In some cases, it can take up to 5 business days.
Daily Limit: The daily limit for ACH withdrawals is generally $50,000 USD.
Cutoff Time: The daily cutoff time for ACH withdrawals is typically 4:00 PM EST. Requests submitted after this time will be processed on the next business day.
Sub-heading: Wire Transfers
Webull also supports wire transfers, which are generally faster but come with higher fees.
Processing Time: Wire transfers are usually processed within 1 business day.
Fees:
Domestic Wire Withdrawal: Can range from $25 to $50 (charged by Webull's clearing firm).
International Wire Withdrawal: Can be $45 to $100 or more (charged by Webull's clearing firm and potentially intermediary banks).
It's important to check the precise fees within the Webull app or on their official fee schedule, as these can vary.
Step 5: Monitor Your Withdrawal Status
After submitting your request, you can track its progress.
Webull Mobile App: Go to "Transfers" and then "Recent Activity" to see the real-time status and estimated settlement date of your withdrawal.
Desktop/Web: Look for a "Transaction History" or "Transfer History" section in your account.
Pro Tip: Keep a screenshot of your withdrawal confirmation for your records.
Step 6: Troubleshooting Common Withdrawal Issues
Sometimes, withdrawals don't go as smoothly as planned. Here are some common reasons for withdrawal failures and how to address them:
Sub-heading: Insufficient Funds
Issue: You're trying to withdraw more than your available "cash to withdraw" balance.
Solution: Double-check your available funds, ensuring they have settled from any recent trades and that any deposit holding periods have passed.
Sub-heading: Daily Limit Reached
Issue: Your withdrawal amount exceeds the daily limit for your chosen method (e.g., $50,000 for ACH).
Solution: Reduce the withdrawal amount, or wait for the current withdrawal to process (usually 1-2 business days) before attempting another.
Sub-heading: Different Bank Accounts
Issue: You're trying to withdraw to a bank account different from the one used for recent deposits (especially within the last 60 days).
Solution: Webull may require additional verification in such cases. If the original bank account is closed or inaccessible, contact Webull customer support immediately.
Sub-heading: Invalid Bank Information
Issue: Incorrect routing number (ABA Code), account number, or SWIFT code.
Solution: Carefully verify your bank account details. If incorrect, unlink the old account and re-link the correct one, providing accurate information.
Sub-heading: Expired ACH Link
Issue: If you've recently changed key information with your bank (like password or email), your existing ACH link might have expired.
Solution: Relink your bank account to refresh the connection.
Sub-heading: Recent ACAT Activity
Issue: Assets transferred to Webull via ACATS (Automated Customer Account Transfer Service) are subject to a withdrawal hold period of up to 30 days.
Solution: You'll need to wait for this holding period to pass.
Sub-heading: Third-Party Accounts
Issue: Attempting to withdraw to an account not in your name.
Solution: This is strictly prohibited by Webull. Withdrawals must go to your own individual or joint bank account.
Sub-heading: Account Restrictions
Issue: Your account may be restricted due to reasons like an ACH deposit reversal, unusual deposit behavior, or an outdated/invalid ID on file.
Solution: Contact Webull customer service to understand the reason for the restriction and what steps are needed to lift it.
When in doubt, or if you encounter persistent issues, do not hesitate to contact Webull's customer support. They can provide personalized assistance and help resolve any problems.
Frequently Asked Questions (FAQs)
How to check my available withdrawal balance on Webull?
You can typically check your available withdrawal balance by navigating to the "Account" section, then "Transfers," and finally "Withdraw" within the Webull mobile app or desktop platform.
How to link a new bank account for withdrawals on Webull?
On the Webull app, go to "Transfers," then "Withdraw," and select "Add Bank Account." You'll need to input your bank details and potentially upload a bank statement for verification.
How to cancel a pending Webull withdrawal?
You can attempt to cancel a pending ACH withdrawal through the Webull mobile app by going to "Transfers," "Recent Activity," and selecting the withdrawal request. If the option to cancel is available, you can proceed. However, once a deposit is in processing, cancellation may not be possible.
How to withdraw money from Webull using a wire transfer?
While ACH is the primary method, Webull also supports wire transfers. You'll typically find this option within the withdrawal section, but be aware of higher fees and specific instructions for wire transfers.
How to fix a failed Webull withdrawal due to "insufficient funds"?
Ensure all your trades have fully settled (T+1 for US stocks) and that any recent deposits have cleared their holding period (up to 6 business days for ACH). Only your "available to withdraw" balance can be moved.
How to withdraw funds from Webull if my linked bank account is closed?
If your originally linked bank account is closed, you will need to unlink it and then link a new, active bank account in your name. Contact Webull customer support if you encounter difficulties or require assistance with this process.
How to avoid withdrawal fees on Webull?
Webull generally does not charge fees for ACH withdrawals. However, wire transfers typically incur fees. To avoid fees, utilize ACH transfers whenever possible, ensuring your withdrawal amount is within the daily ACH limits.
How to get money out of Webull quickly?
For the fastest withdrawal, a wire transfer is generally quicker (often 1 business day) compared to ACH (2-3 business days), but it comes with higher fees. Ensure your funds are settled and your bank account is verified to minimize delays.
How to troubleshoot a Webull withdrawal stuck in "pending" status?
Check your "Recent Activity" or "Transfer History" for the specific status. If it remains pending beyond the estimated processing time, verify that you haven't exceeded any limits or have any account restrictions. If the issue persists, contact Webull customer service with your transaction details.
How to change the bank account for future Webull withdrawals?
You can change your linked bank account by first unlinking the current one (if only one is allowed at a time) and then adding the new bank account through the "Transfers" and "Withdraw" section of the Webull app. Note that linking/unlinking can take up to 24 hours for approval.
