Do you need to update your financial details on Webull? Perhaps you've opened a new bank account, or you simply want to switch the primary method you use for deposits or withdrawals. Whatever the reason, changing your payment method on Webull is a straightforward process, though it does involve a few key steps to ensure security and compliance.
Ready to get started? Let's dive in!
How to Change Your Payment Method on Webull: A Comprehensive Step-by-Step Guide
Changing your payment method on Webull primarily involves managing your linked bank accounts. Webull typically uses bank transfers (ACH or wire transfers) for deposits and withdrawals, and you can only have bank accounts in your own name linked.
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| How To Change Payment Method On Webull |
Step 1: Get Prepared – What You'll Need and What to Expect
Before you even open the Webull app, let's make sure you're ready. This will make the entire process much smoother!
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What's your goal? Are you looking to change the bank account for withdrawals, deposits, or both? Keep in mind that Webull usually links one primary bank account for both, but you might need to specify.
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Gather your new bank account information: You'll need your new bank's routing number and your account number. It's always a good idea to have a recent bank statement (dated within the last 6 months) handy. This statement should clearly show your full name, the BSB (if applicable, for Australian accounts) or routing number, your account number, and the bank's logo. This is often required for verification.
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Understand the processing time: Linking or unlinking bank accounts on Webull can take up to 24 hours for approval. Deposit and withdrawal processing times vary as well. ACH deposits generally take 1 business day to process, with funds settling within 3-4 business days. Wire transfers are often faster, settling within 1-3 business days.
Step 2: Access the Transfers Section in the Webull App
This is where the magic begins!
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Open the Webull App: Launch the Webull application on your mobile device.
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Navigate to the Webull Logo: At the bottom of your screen, you'll see the Webull logo (often represented by a bull icon or a circular logo). Tap on this logo. This is your central hub for account management and transfers.
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Find "Transfers": Once you've tapped the Webull logo, a new screen will appear. Look for the "Transfers" option, usually located at the top of the screen. Tap on "Transfers".
Tip: Reread complex ideas to fully understand them.
Step 3: Unlinking Your Old Bank Account (For Withdrawals)
If you want to replace an existing bank account, you'll typically need to unlink it first. Webull generally allows only one bank account linked for withdrawals at a time.
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Select "Withdraw": Within the "Transfers" section, you'll see options like "Deposit" and "Withdraw." Tap on "Withdraw."
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Choose Your Withdrawal Currency: If prompted, select the currency you wish to withdraw in (e.g., USD, SGD, HKD).
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Locate Your Current Bank Account: You should see your currently linked bank account displayed. Tap on the ">" arrow next to the bank account you wish to remove or change.
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View Details and Delete: This will take you to the details of that bank account. Look for an option like "Details" and then "Delete Bank Account" or "Unlink Bank Account." Tap on this option to remove it.
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Confirm Unlinking: Follow any on-screen prompts to confirm that you want to unlink the bank account.
Note: Requests to unlink bank accounts can also take up to 24 hours to be approved by Webull.
Step 4: Adding Your New Bank Account
Now that you've cleared the way (or if you're adding a new account for the first time), it's time to link your new payment method.
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Return to "Withdraw" or "Deposit": From the "Transfers" section, you can either go back to "Withdraw" (if you've just unlinked an account) or select "Deposit" if you're primarily adding for deposits. The "Add Bank Account" option will be available from either.
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Tap "Add Bank Account": Look for a button or link that says "Add Bank Account." Tap on it.
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Enter Bank Details: You'll be prompted to enter the necessary information for your new bank account. This typically includes:
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Bank Name
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Account Holder's Name (Must match your Webull account name)
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Bank Account Number
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Routing Number (for US accounts) or BSB (for Australian accounts)
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SWIFT/BIC Code (for international wire transfers, if applicable)
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Bank Address (sometimes required)
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Upload Proof of Bank Account: This is a crucial step for verification. You will likely be asked to upload a copy of a recent bank statement or a screenshot from your online banking portal. Ensure the uploaded document clearly shows:
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Your full name
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The bank's logo
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The bank account number
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The routing number / BSB
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A date within the last 6 months
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Make sure the image is clear and all details are legible.
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Submit for Approval: Once all details are entered and the proof is uploaded, tap "Submit" or "Confirm."
Step 5: Verification and Confirmation
After submitting your new bank account details, there's a waiting period.
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Pending Approval: Your request to link the new bank account will be pending review. As mentioned, this can take up to 24 hours.
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Check for Notifications: Webull will usually notify you via email or a message in the Webull app once your bank account has been successfully linked or if there are any issues with the submission.
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Micro-Deposits (for some ACH verifications): For some ACH links, Webull might initiate two small "micro-deposits" (e.g., $0.05 and $0.12) into your bank account. You'll then need to return to the Webull app and verify the exact amounts of these deposits. This confirms that you own the bank account. Wait up to 48 hours for these to appear. If you don't see them, check your bank's transaction history or contact your bank.
Once your new bank account is linked, you can proceed to use it for deposits and withdrawals!
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Frequently Asked Questions (FAQs)
Here are 10 common "How to" questions related to changing payment methods on Webull, with quick answers:
How to check the status of my bank account linking request on Webull?
You will typically receive a notification in the Webull app or an email from Webull once your bank account linking request has been processed and approved or if there's an issue. There isn't usually a live tracker, but checking your notifications is the best way.
How to remove multiple linked bank accounts from Webull?
Webull generally only allows one bank account to be linked for withdrawals at a time. If you linked multiple for specific reasons or in the past, you'd follow Step 3 for each account you wish to remove.
How to ensure my bank account is successfully linked on Webull?
After submitting the details, wait for the approval notification from Webull. For ACH verification, you might also need to verify micro-deposits sent to your bank account within 48 hours.
Tip: Reread slowly for better memory.
How to fix a "linking bank account failed" error on Webull?
Common reasons for failure include incorrect bank details, the bank statement not showing full name/BSB/account number clearly, or the statement being older than 6 months. Review the error message, correct the details, and re-upload clear, recent evidence.
How to add a secondary payment method for deposits on Webull?
While Webull primarily uses bank transfers (ACH/wire) for deposits, you can only link one bank account for withdrawals. For deposits, you generally use the "Deposit" section and select your preferred method, which will typically be the linked bank account. Some regions may support other methods like eDDA or FAST transfers.
How to transfer funds from Webull to my new bank account?
Once your new bank account is linked and approved, go to "Transfers" -> "Withdraw," select your new linked account, enter the amount, and confirm the withdrawal.
How to find Webull's bank details for a wire transfer?
QuickTip: Repeat difficult lines until they’re clear.
In the Webull app, go to "Webull logo" -> "Transfers" -> "Deposit" -> "Wire Transfer" (or "International Wire Transfer"). The necessary bank details for Webull will be displayed there.
How to change my primary deposit method if I have multiple linked accounts (if applicable)?
Webull's system generally uses the single linked bank account for both deposits and withdrawals. If you need to deposit from a different account, you would typically need to unlink the current one for withdrawals and then link the new account, which would then become the primary.
How to speed up the bank account linking process on Webull?
Ensure all information is accurate and that your uploaded bank statement is clear, recent, and shows all required details (full name, account number, routing/BSB, bank logo). Providing complete and correct information from the start is the best way to avoid delays.
How to contact Webull support if I'm having trouble changing my payment method?
If you encounter persistent issues, you can contact Webull customer support through the app's help center, their official website, or by phone. Look for a "Contact Us" or "Help" section within the app or on their website.
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