Have you been navigating the exciting world of investing with Webull, building up your portfolio, and now find yourself wondering how to bring those hard-earned funds back into your bank account? You've come to the right place! While Webull makes it incredibly easy to deposit and trade, withdrawing money can sometimes seem a little less straightforward, especially for new users. But don't worry, it's a perfectly normal process, and this comprehensive guide will walk you through every single step, ensuring your funds make it safely and smoothly from your Webull account to your chosen bank.
Let's dive in and get those funds transferred!
How to Transfer Money Out of Webull: Your Comprehensive Guide
Withdrawing money from Webull primarily involves linking a valid bank account and initiating an ACH (Automated Clearing House) transfer. For larger or time-sensitive transfers, wire transfers are also an option, though they come with higher fees. Understanding the process and potential pitfalls is key to a hassle-free withdrawal experience.
Step 1: Ensure Your Funds Are Ready for Withdrawal
Before you even think about hitting that "Withdraw" button, it's crucial to verify that your funds are actually available for withdrawal. Many new investors overlook this, leading to frustration.
Understanding Settlement Periods
T+1 for Equities & Options (US): When you sell stocks or options on Webull (in the US market), the funds aren't immediately available for withdrawal. There's a "settlement period" which, for US equities and options, is typically T+1. This means the trade settles one business day after the trade date. So, if you sell on Monday, the funds will be settled and available for withdrawal on Tuesday.
T+2 for Equities (Australia & Hong Kong): If you're trading in other markets like Australia or Hong Kong, the settlement period for equities is often T+2 (two business days). Always check the specific settlement period for the assets you've sold.
Cash Management Redemption: If you've opted into Webull's cash management program, your uninvested cash might be held in a money market fund or similar. You'll need to redeem these funds first, which also has its own processing time, typically 1-2 business days. Only after redemption will the cash be available for withdrawal to your bank.
Check Your "Available for Withdrawal" Balance
The Webull app clearly displays the amount of cash you have available for withdrawal. Don't rely solely on your "cash balance" as that might include unsettled funds or funds held in cash management. Always check the specific "Available for Withdrawal" figure.
Step 2: Linking and Verifying Your Bank Account
Webull prioritizes security, so you can only withdraw funds to a bank account in your name. Third-party accounts or e-wallets are not supported. If you haven't linked your bank account yet, or need to change it, this is a vital step.
Sub-step 2.1: Adding a New Bank Account
Open the Webull App: Tap the Webull logo (usually at the bottom center of your screen).
Navigate to "Transfers": At the top of the screen, you'll see "Transfers." Tap on it.
Select "Withdraw": Choose the "Withdraw" option.
Add Bank Account: If you don't have a linked account, or want to add a new one, you'll see an option to "Add Bank Account" or similar. Tap on it.
Enter Bank Details: Carefully input your bank's routing number (ABA code) and your account number. Double-check these numbers to avoid delays or failed transfers.
Upload Verification (if required): Webull may ask for evidence to verify your bank account. This typically involves uploading a copy of a recent bank statement (dated within the last 6 months) that clearly shows your full name, BSB/routing number, account number, and the bank's logo.
Submit for Approval: Once you've entered all the details and uploaded any necessary documents, submit your request. Note: Requests to link or unlink bank accounts can take up to 24 hours to be approved.
Sub-step 2.2: Changing a Linked Bank Account
If you need to withdraw to a different bank account than the one currently linked, you'll need to unlink the old one first.
Open the Webull App: Tap the Webull logo.
Navigate to "Transfers": Tap "Transfers."
Select "Withdraw": Choose "Withdraw."
Manage Bank Accounts: You should see your currently linked bank account. Tap on it (or look for an icon like a ">" or a small trash can symbol) to manage it.
Unlink the Account: Follow the prompts to unlink or remove the existing bank account.
Add New Account: Once the old account is unlinked (which may also take up to 24 hours), proceed with the steps in "Sub-step 2.1" to add your new bank account.
Important Note: If you're withdrawing to a bank account different from the one you recently deposited from (within the last 60 days), Webull may require additional verification due to anti-money laundering (AML) policies. In such cases, contact Webull support.
Step 3: Initiating the Withdrawal Request
Once your funds are settled and your bank account is linked and verified, you're ready to initiate the withdrawal.
Sub-step 3.1: Mobile App Withdrawal
Tap Webull Logo: Open your Webull app and tap the central Webull logo icon at the bottom of the screen.
Go to "Transfers": Select "Transfers" at the top.
Choose "Withdraw": Tap on "Withdraw."
Select Currency (if applicable): If you have funds in multiple currencies, select the withdrawal currency.
Choose Destination Bank Account: If you have multiple linked accounts, select the one where you want to receive the funds.
Enter Withdrawal Amount: Input the amount you wish to withdraw. Be mindful of any minimum withdrawal amounts (e.g., USD 50 for TT withdrawals). Also, remember the ACH daily limit is typically $50,000.
Review and Submit: Carefully review all the details of your withdrawal request (amount, destination account).
Confirm: Tap "Confirm" or "Submit Withdrawal Request."
Sub-step 3.2: Web/Desktop Withdrawal
While the mobile app is the most common way, you can also initiate withdrawals from the Webull desktop platform or web interface.
Login to Webull: Access your Webull account via their website or desktop application.
Navigate to "Account" or "My Account": On the desktop app, hover over the icons on the left and click "Account." On the web, look for "My Account" in the top right.
Select "Withdraw" or "Transfer Money": Within the banking widget or under "Transfer Money," select the "Withdraw" option.
Switch Transfer Direction: Ensure the "To:" field shows your external bank account, indicating you are withdrawing from Webull.
Choose Funding Account: Select your Webull account as the source and your linked bank account as the destination.
Enter Withdrawal Amount: Input the desired amount.
Review and Submit: Review the details and submit your withdrawal request.
Step 4: Tracking Your Withdrawal and Understanding Timelines
After submitting your request, it's natural to wonder when your money will arrive. Webull provides tools to track your transfer, and understanding the general timelines will manage your expectations.
Sub-step 4.1: Checking Withdrawal Status
Open Webull App: Tap the Webull logo.
Go to "Transfers": Tap "Transfers."
Recent Activity: Look for a "Recent Activity" or "Transfer History" section. This will show you the status of your pending and completed withdrawals, along with estimated settlement dates.
Sub-step 4.2: Withdrawal Timelines
ACH Withdrawals: These are the most common and typically take 2-3 business days to process and appear in your bank account. In some cases, it might be 1-5 business days depending on your bank and Webull's processing.
Wire Transfers: While faster for deposits, wire withdrawals can also take 1-5 business days to complete, with domestic wires often settling by the next business day if initiated correctly. However, they incur higher fees.
Potential Delays and Troubleshooting
Insufficient Funds: Ensure your "available for withdrawal" balance is sufficient. Remember settlement periods!
Daily Limits: ACH withdrawals typically have a daily limit (e.g., $50,000). If your requested amount exceeds this, you'll need to make multiple withdrawals over several days.
Different Bank Accounts: As mentioned, withdrawing to a new bank account (not used for recent deposits) may trigger additional verification and delays.
Invalid Bank Details: Double-check your routing and account numbers. Even a small error can cause a rejection.
Expired ACH Link: If you've recently changed bank information (like a password or email), your linked ACH connection might have expired. You might need to unlink and relink your bank account.
Recent ACAT Activity: If you transferred assets into Webull via ACATS (Automated Customer Account Transfer Service), those assets might be subject to a withdrawal hold period of up to 30 days.
Third-Party Accounts: Webull will not process withdrawals to third-party accounts. Ensure the linked bank account is strictly in your name.
Currency Conversion: If you sold shares in one currency (e.g., USD) and want to withdraw in another (e.g., AUD), you'll need to perform a currency conversion within the Webull app first.
If you encounter persistent issues, don't hesitate to contact Webull customer support. Provide screenshots of any error messages for quicker resolution.
Frequently Asked Questions (FAQs)
Here are 10 common "How to" questions related to withdrawing money from Webull, with quick answers:
How to check my available withdrawal balance on Webull?
You can check your available withdrawal balance by navigating to the "Transfers" section in the Webull app and then selecting "Withdraw." The amount displayed here is what's ready for transfer.
How to link a new bank account for withdrawals on Webull?
To link a new bank account, go to the "Transfers" section, select "Withdraw," and then choose the option to "Add Bank Account." You'll need to input your bank's routing and account numbers and potentially upload a bank statement for verification.
How to unlink a bank account from Webull?
To unlink a bank account, go to "Transfers" -> "Withdraw," then tap on the currently linked bank account. You should see an option to remove or unlink it.
How to withdraw money from Webull to a different bank account than my deposit account?
If you're withdrawing to a bank account different from the one used for recent deposits (within 60 days), Webull may require additional verification. It's best to contact Webull support for guidance in such cases.
How to speed up my Webull withdrawal?
ACH withdrawals typically take 2-3 business days. For faster transfers, Webull may offer wire transfers, but these usually come with higher fees. Always check Webull's current fee schedule and options.
How to find my bank's routing and account number for Webull withdrawal?
Your bank's routing number (ABA code) and your account number can usually be found on your checks, your bank's online banking portal, or by contacting your bank directly.
How to troubleshoot a failed Webull withdrawal?
Check for common issues like insufficient available funds, exceeding daily withdrawal limits, incorrect bank details, or an expired ACH link. If problems persist, contact Webull customer support with details of the error.
How to withdraw funds after selling stocks on Webull?
After selling stocks, you must wait for the settlement period to pass (typically T+1 for US equities and options, T+2 for others) before the funds become available for withdrawal. Once settled, you can initiate an ACH or wire transfer.
How to withdraw money from Webull if I have cash in cash management?
You need to first redeem your funds from the cash management position within the Webull app. This process usually takes 1-2 business days, after which the redeemed cash will be available for withdrawal.
How to contact Webull customer support for withdrawal issues?
You can usually contact Webull customer support through their in-app help center, via email, or by phone. Check the "Help" or "Contact Us" section within the Webull app or on their official website for specific contact details.
