Your Comprehensive Guide: How to Withdraw Money from Webull Like a Pro!
Hey there, fellow investor! Are you ready to reap the rewards of your smart trading decisions on Webull? Whether you've just closed a profitable position or simply need to access some funds, withdrawing money from your Webull account is a straightforward process. This lengthy, step-by-step guide will walk you through everything you need to know, from preparing for your withdrawal to understanding potential delays and fees. Let's get those funds into your bank account!
Step 1: Engage and Prepare – Are You Ready to Withdraw?
Before we dive into the nitty-gritty, let's make sure you're all set. Think of this as your pre-flight check for a smooth financial landing.
Do you have a linked bank account? This is crucial! Webull only allows withdrawals to your own individual or joint bank account that is already linked and verified. Third-party accounts or payment platforms like PayPal are generally not accepted.
Are your funds settled? This is one of the most common reasons for withdrawal issues. When you sell securities, the funds aren't immediately available for withdrawal.
US Stocks & Options: Typically settle in T+1 (Trade date + 1 business day).
Hong Kong Stocks & Australian Stocks: Usually settle in T+2 (Trade date + 2 business days).
Initial Deposits: Funds from recent deposits (especially ACH) might have a holding period before they can be withdrawn. For instance, Webull states you can usually withdraw funds on the fifth business day after your deposit settles.
Do you have enough available for withdrawal? Make sure you're not trying to withdraw more than your available cash balance. This might seem obvious, but it's an easy mistake to make, especially if you have pending trades or unsettled funds.
Is your linked bank account information accurate and up-to-date? Double-check your routing and account numbers. An incorrect digit can lead to significant delays or even failed transfers. If you've recently changed bank details, you might need to relink your account.
If you answered "yes" to having a linked bank account with settled funds available, you're in great shape! Let's move on to the actual withdrawal process.
Step 2: Navigating the Webull App for Withdrawal
The Webull mobile app is your primary tool for managing your investments and initiating withdrawals. The process is intuitive and designed for ease of use.
Sub-heading: Accessing the Transfer Menu
Tap the Webull Logo: On the main trading interface, you'll find the Webull logo at the bottom center of your screen. Tap on it. This will take you to your account overview.
Select "Transfers": At the top of your account screen, you'll see a section for "Transfers." Tap on this.
Choose "Withdraw Funds": Within the "Transfers" menu, you'll have options for deposits and withdrawals. Select "Withdraw Funds" (or sometimes simply "Withdraw").
Sub-heading: Initiating Your Withdrawal Request
Select Currency: If you have funds in different currencies (e.g., USD, HKD), you'll need to select the currency you wish to withdraw. Remember, if you sold US shares, the cash settlement will be in USD, and you might need to convert it if you want to withdraw in a different currency like AUD.
Enter Withdrawal Amount: Carefully input the exact amount of money you want to withdraw.
Confirm Destination: Ensure the "To:" field shows your external linked bank account. If you have multiple linked accounts, select the correct one. Sometimes, you might need to tap a "switch button" to change the transfer direction from deposit to withdrawal.
Review and Submit: Before finalizing, Webull will present you with a summary of your withdrawal request. Review all the details carefully, including the amount and the destination account. Once you're confident everything is correct, tap "Review and Submit" (or "Submit Withdrawal Request").
Authenticate: You may be asked to verify the transaction using your trading password or biometric authentication (Face ID/Fingerprint) for security purposes.
Step 3: Understanding Withdrawal Limits and Processing Times
Once you've submitted your request, it's natural to wonder when your funds will arrive. Here's what you need to know:
Sub-heading: Daily Withdrawal Limits
ACH Withdrawals: For most users in the US, the daily limit for ACH (Automated Clearing House) withdrawals is generally $50,000.
Cut-off Times: There's usually a daily cut-off time for withdrawals to be processed on the same business day. For ACH withdrawals, this is often 4:00 PM EST. Requests submitted after this time will typically be processed on the next business day.
Sub-heading: Processing Timeframes
ACH Withdrawals: ACH withdrawals usually take 2-3 business days to process and appear in your bank account.
Real-Time Payment (RTP) (if applicable in your region): In some regions, Webull supports RTP, which can result in funds being received much faster, sometimes within 30 minutes. However, this is subject to the processing times of both the sending and receiving banks.
Interbank GIRO (IBG) (if applicable in your region): For IBG withdrawals, Webull might process your request within 3-5 hours, but receipt of funds depends on bank processing times. Requests after 3 PM on business days are usually processed on the next business day.
First-Time Withdrawals: Be aware that first-time withdrawal requests, or requests made on weekends/public holidays, might take a bit longer to process, often by the next business day's morning.
Sub-heading: Tracking Your Withdrawal
You can monitor the status of your withdrawal request directly within the Webull app.
Navigate back to the "Transfers" section.
Look for "Recent Activity" (or similar).
This section will provide real-time updates on your transaction's progress and estimated settlement date.
Step 4: Understanding Fees and Potential Issues
While Webull is known for its commission-free trading, there are a few things to keep in mind regarding withdrawal fees and potential hiccups.
Sub-heading: Webull Withdrawal Fees
Basic Withdrawal Fee: For standard ACH withdrawals, Webull generally does not charge a fee. This is a major benefit for many users.
Wire Transfers: If you opt for a wire transfer (which is less common for typical withdrawals and often has higher limits), there will likely be fees involved. Webull's fee for an outgoing wire transfer can be around $25 for domestic wires and $45 for international wires. Your receiving bank might also charge a fee.
Other Potential Fees: Any transfer fees incurred, including but not limited to, handling commissions, cable charges, and agent bank charges related to the withdrawal to overseas accounts, shall be borne by the client.
Sub-heading: Common Withdrawal Issues and Troubleshooting
Sometimes, a withdrawal request might fail or be delayed. Here are some common reasons and what you can do:
Insufficient Funds: Double-check your available cash balance in the app. Remember to account for unsettled funds.
Daily Limit Reached: If you're trying to withdraw a large amount, you might have hit the $50,000 daily ACH limit. 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 as per company policy. If your original bank account is closed, contact Webull support.
Invalid Bank Information: An incorrect ABA code (routing number) or SWIFT code can cause rejections. Ensure your linked bank details are accurate.
Expired ACH Link: If you've recently changed key information with your bank (like your password or registered email), your ACH link might have expired. You'll need to relink your bank account.
Recent ACAT Activity: Assets transferred to Webull via ACATS (Automated Customer Account Transfer Service) are subject to a withdrawal hold period of up to 30 days from the settlement date of the transfer.
Third-Party Accounts: Webull strictly adheres to rules against third-party transfers. Withdrawals must be to your own individual or joint bank account in your name. Funds cannot be sent to accounts held by trusts (unless the trust is specifically linked and verified with Webull) or other third-party payment platforms.
Currency Mismatch: Ensure the currency you are trying to withdraw is the same as the cash balance available. If you sold US shares, the cash might be in USD and needs conversion before withdrawing in a different currency.
AUD Cash Management Activated: If you have activated AUD Cash Management, you need to redeem the cash from AUD Cash Management before withdrawing. This redemption typically takes 1-2 business days.
If you encounter a persistent issue or can't determine why your withdrawal was rejected, it's always best to contact Webull customer support. Take a screenshot of any rejection messages to provide them with complete information.
10 Related FAQ Questions:
How to check my available withdrawal balance on Webull?
You can check your available withdrawal balance by navigating to the "Account" section, then "Transfers," and finally "Withdraw" on the Webull mobile app. It will show you the funds currently eligible for withdrawal.
How to link a new bank account for withdrawals on Webull?
To link a new bank account, go to the "Transfers" section in the Webull app, and look for an option to "Link Bank Account" or "Manage Bank Accounts." You'll typically need to provide your bank's routing number and your account number, and may go through a verification process (e.g., small trial deposits).
How to cancel a pending withdrawal on Webull?
You can cancel a pending ACH withdrawal through the Webull mobile app if it hasn't been processed by their clearing firm yet. Go to "Transfers" -> "Recent Activity," select the withdrawal request, and if the option is available, select "Cancel."
How to withdraw money from Webull to PayPal?
Webull generally does not support direct withdrawals to third-party payment platforms like PayPal. Withdrawals must be made to a linked bank account in your own name.
How to withdraw unsettled funds from Webull?
You cannot directly withdraw unsettled funds from Webull. Funds from sold securities need to complete their settlement period (T+1 for US stocks/options, T+2 for HK/AU stocks) before they become available for withdrawal.
How to change my linked bank account for Webull withdrawals?
To change your linked bank account, you'll need to add the new bank account through the Webull app's "Transfers" or "Bank Management" section. Once the new account is verified, you can select it as your withdrawal destination.
How to find my Webull withdrawal history?
You can typically find your withdrawal history by going to the "Transfers" section in the Webull app and looking for "Recent Activity" or "Transaction History."
How to contact Webull customer support for withdrawal issues?
You can contact Webull customer support through their in-app help center, email (support@webull.com), or by phone (+1 (888) 828-0618 for US support). It's helpful to have screenshots of any error messages.
How to avoid withdrawal delays on Webull?
To avoid delays, ensure your linked bank account is verified and accurate, only attempt to withdraw settled funds, be mindful of daily withdrawal limits and cut-off times, and confirm you're withdrawing to an account in your name.
How to withdraw money from Webull if my linked bank account is closed?
If your original linked bank account is closed, you will need to link a new bank account to your Webull account. Once the new account is successfully linked and verified, you can then proceed with your withdrawal. You may need to contact Webull support for assistance if you encounter any issues during this process.