2019 options to fund WeBull brokerage account. New account initial deposit by check from bank.

Webull Account Funding

If you just opened an account with Webull and are ready to start trading, the first step is to fund your account. Webull offers a couple options here, each with different costs and timing. This article will go over these options and their pros and cons.

Funding Options

As with most brokers, Webull offers both electronic, or ACH, transfers and wire transfers to deposit or withdraw funds. They don’t offer some of the less popular options that other brokers support, such as writing physical checks, but we don’t really view this as a drawback as these other options are less efficient and practical today.

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Link Your Bank Account

Prior to initiating an ACH transfer, you will need to link your checking or savings account to your Webull account. This is an easy process where you provide Webull with your bank account number and routing number. They will then make two small micro deposits (<$1.00 each) into your bank account and you will then have to enter these on your Webull account to verify that you are in fact the owner of the bank account and have access to its activity. It generally takes two business days for the deposits to appear in your bank account.


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ACH/Electronic Transfers

After verifying Webull’s micro deposits, your bank account will be linked and able to be used for ACH deposits (and withdrawals). Initiating an ACH deposit is easy, and once you do it will generally take five business days for the funds to settle in your Webull account and be able to be used for trading (although Webull gives you access to a portion of your deposit to trade with on the first day). ACH deposits are free to create at Webull; however they do impose a daily ACH deposit limit of $50,000 per account. Making an ACH deposit to your Webull account is similar as with most other brokers in that it’s free and takes five days to settle.

Wire Transfers

If you need your funds faster, Webull offers both domestic and international wire transfers for a fee. Wired funds are generally available in one business day, but can sometimes be available same day depending on what time the request was submitted.

Webull will waive their fee on your first, or incepting, deposit but they will charge you $8 and $12.50 for all future domestic and international incoming wire transfers, respectively, that are under $25,000. Webull will waive their wire fee for deposits over $25,000. It’s important to remember that aside from Webull’s wire fees, most banks will also charge you a fee for outgoing wires.


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WeBull Account Funding Summary

In summary, Webull offers fewer options than most brokers when it comes to funding your brokerage account. ACH deposits are the more common, free option, but they generally take five business days to settle and be available for use. Wire transfers are the other, faster option, settling within one business day; however these will generally incur fees both from your bank and Webull as well. We were a bit surprised by this since most brokers don’t charge you for incoming wires.

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