You've made some great investments with Webull, and now it's time to enjoy the fruits of your labor! Withdrawing money from your brokerage account can seem a bit daunting, but don't worry, it's a straightforward process. This comprehensive guide will walk you through every step, ensuring you can access your funds smoothly and efficiently.
Ready to get your hands on your hard-earned money? Let's dive in!
Understanding Webull Withdrawal Methods
Webull primarily offers withdrawals via ACH (Automated Clearing House) transfers to your linked bank account. For larger amounts or faster transfers, domestic and international wire transfers are also an option, though they usually incur fees. It's crucial to remember that Webull only allows withdrawals to a bank account in your name – third-party accounts or payment platforms like Wise or Revolut are generally not supported.
Step 1: Ensure Your Account is Ready for Withdrawal
Before you even think about tapping that "Withdraw" button, there are a few crucial checks to make. Skipping these can lead to delays or rejected requests!
Sub-heading 1.1: Verify Your Linked Bank Account
This is perhaps the most critical step. Webull requires your linked bank account to be verified. If you haven't done so already, you'll need to link your bank account and complete any necessary verification steps. This often involves small test deposits and withdrawals to confirm ownership.
Pro Tip: It's generally easier to withdraw to the same bank account you used for your deposits. If you're withdrawing to a new bank account, especially if it's within 60 days of a recent deposit, Webull might require additional verification for security and AML (Anti-Money Laundering) compliance. If your original bank account is closed, you'll need to contact Webull support with documentation proving the closure and the new account's details.
Sub-heading 1.2: Check for Settled Funds
You can only withdraw settled funds. When you sell stocks or other securities, the proceeds aren't immediately available for withdrawal. They need to go through a "settlement" period. For most US securities, this is T+1, meaning the funds settle one business day after the trade date.
How to check settled funds: On the Webull mobile app, navigate to your account section, then "Transfers" and "Withdraw." You should see your "Available to Withdraw" balance. This balance only reflects settled funds.
Sub-heading 1.3: Be Aware of Withdrawal Limits
Webull has daily withdrawal limits. For ACH withdrawals, the daily limit is typically $50,000. If you're trying to withdraw more than this, you'll need to make multiple withdrawal requests over several days or consider a wire transfer, which usually has higher limits.
Sub-heading 1.4: Consider Recent ACAT Activity
If you've recently transferred assets to Webull via ACATS (Automated Customer Account Transfer Service), those assets might be subject to a withdrawal hold period of up to 30 days from the day after the transfer settles. This is a common industry practice for security.
Step 2: Initiating Your ACH Withdrawal (Mobile App)
The Webull mobile app is the most popular way to manage your account and initiate withdrawals. Here’s how:
Open the Webull App: Launch the Webull application on your smartphone or tablet.
Access Your Account: Tap the Webull logo (usually located at the bottom center of the screen). This will take you to your main account page.
Navigate to Transfers: Select "Transfers" at the top of the screen.
Choose "Transfer Money": Tap on "Transfer Money".
Switch Transfer Direction: You'll see an option to switch the transfer direction. Ensure the "To:" field displays your external bank account. If it currently shows your Webull account, tap the switch button to reverse the direction.
Enter Withdrawal Amount: Input the specific amount you wish to withdraw. Make sure it's within your "Available to Withdraw" balance and the daily limits.
Review and Submit: Carefully review all the details of your withdrawal request, including the amount and the linked bank account. Once you're sure everything is correct, tap "Review and Submit" (or similar wording).
Confirm Request: You may be asked to confirm your request with a password or biometric authentication.
Step 3: Initiating Your ACH Withdrawal (Desktop/Web Platform)
If you prefer using the desktop application or the Webull website, the process is slightly different but equally straightforward.
Sub-heading 3.1: Desktop Application
Launch Desktop App: Open the Webull desktop application.
Go to Account: Hover over the icons on the left-hand side and click "Account". (If you don't see it, you might need to click "More" first).
Select Withdraw: Within the "Banking" widget, select "Withdraw". This will direct you to the "Transfer Money" page on the web.
Choose Funding Account: In the "To" field, select the bank account where you want the funds to be sent.
Enter Amount: Input the desired withdrawal amount.
Review and Submit: Review the details and then click "Submit".
Sub-heading 3.2: Web Platform
Access Webull Website: Go to the official Webull website and log in to your account.
Navigate to My Account: Click on "My Account" (usually located in the top right corner).
Select Transfer Money: Choose "Transfer Money".
Switch Transfer Direction: Similar to the app, tap the switch button to ensure you are withdrawing from your Webull account. The "To" field should show your bank account.
Choose Funding Account: Select the bank account to which you wish to withdraw.
Enter Amount: Enter the amount you want to withdraw.
Review and Submit: Review the transaction details and click "Submit".
Step 4: Understanding Withdrawal Processing Times
Once you've submitted your withdrawal request, the waiting game begins. The time it takes for funds to appear in your bank account varies based on the method and bank.
Sub-heading 4.1: ACH Withdrawal Times
ACH withdrawals typically take 2-3 business days to process and appear in your bank account.
The daily cutoff time for ACH withdrawals is usually 4:00 PM EST. Requests made after this time or on weekends/holidays will be processed on the next business day.
Sub-heading 4.2: Wire Transfer Times
Domestic wire transfers are generally faster, taking 1-2 business days.
International wire transfers can take longer, up to 5 business days.
Note: Wire transfers often incur fees, typically around $8 for domestic and $12.50 for international, charged by the banks involved, not Webull directly.
Step 5: Tracking Your Withdrawal Status
You don't have to just wait in the dark! Webull allows you to track the status of your withdrawal.
Mobile App: Go to "Transfers" then "Recent Activity" on the Webull mobile app. This section provides real-time updates on your transaction's progress and estimated settlement dates.
Troubleshooting Common Withdrawal Issues
Sometimes, a withdrawal request might fail. Here are some common reasons and what you can do:
Insufficient Funds: Double-check your "Available to Withdraw" balance. Only settled funds can be withdrawn.
Daily Limit Reached: If your pending withdrawal amount has reached the $50,000 daily 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 withdrawing to a bank account different from the one used for recent deposits (within the last 60 days), additional verification might be required. Contact Webull support if this is the case.
Invalid Bank Information: Ensure your linked bank account details, including the ABA code (routing number) or SWIFT code, are correct. If you've recently changed key information with your bank, your ACH link might have expired. You may need to unlink and relink your bank account.
Third-Party Accounts: Webull strictly prohibits withdrawals to third-party bank accounts or payment platforms. The account must be in your name.
Recent ACAT Activity: As mentioned, assets transferred via ACATS might have a temporary withdrawal hold.
If you're still facing issues, take a screenshot of any error messages and contact Webull's customer support.
10 Related FAQ Questions
Here are some frequently asked questions about withdrawing money from Webull, with quick answers:
How to check if my bank account is linked for withdrawal?
You can check your linked bank accounts in the "Transfers" or "Account" section of your Webull app or web platform. Look for a section like "Bank Accounts" or "Manage Bank Accounts."
How to withdraw unsettled funds from Webull?
You cannot withdraw unsettled funds. Funds from stock sales need to settle (typically T+1 business day) before they become available for withdrawal.
How to change my linked bank account for withdrawals on Webull?
You can usually unlink your current bank account and then add a new one through the "Bank Account" or "Manage Bank Accounts" section within the app or web platform. Be aware of potential additional verification if it's a new account, especially if recent deposits were made from a different one.
How to track the status of my Webull withdrawal?
On the Webull mobile app, go to "Transfers" and then "Recent Activity" to see the real-time status and estimated settlement date of your withdrawal.
How to know my daily withdrawal limit on Webull?
For ACH withdrawals, the daily limit is typically $50,000. Wire transfers usually have higher limits.
How to contact Webull customer service for withdrawal issues?
You can typically find contact information for Webull customer service within the app's "Help Center" or "Contact Us" section. They usually offer phone support and email support.
How to withdraw money from Webull without a linked bank account?
You must have a linked and verified bank account in your name to withdraw funds from Webull. There are no other direct withdrawal methods.
How to cancel a pending Webull withdrawal?
It may be possible to cancel a pending withdrawal if it hasn't been fully processed yet. Check your "Recent Activity" for a cancellation option, or contact Webull customer support immediately.
How to withdraw money from a Webull IRA account?
Withdrawing from an IRA involves specific tax implications and rules. You'll typically initiate a distribution request, which may require additional forms and will be subject to IRS regulations. It's best to consult with a financial advisor and Webull's support for IRA withdrawals.
How to avoid withdrawal delays on Webull?
To avoid delays, ensure your bank account is verified, only withdraw settled funds, stay within daily limits, and use the same bank account for withdrawals as you did for deposits whenever possible. Double-check all bank details before submitting.