2022: Does Webull reimburse account transfer (ACAT) fee for moving brokerage or IRA account from another investment firm?

Webull Refunds ACAT Transfer Fees

If you want to leave your current broker but don’t want to pay the ACAT transfer fee it most likely charges, you’re in luck. Webull is willing to refund you the fee, up to $100, if you meet various requirements. Yes, of course, there’s some fine print you need to be aware of:

- The transfer must be valued at $2,000 or more.
- IRAs are eligible, but they must have at least $5,000 in assets.
- You can make as many transfers as you like. But you only get one ACAT fee refund.
- Assets must stay in the new Webull account for at least 60 days.
- The ACAT transfer must be initiated within 30 days of opening your new Webull account.

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Making the Transfer

Before you start trying to move your old account to Webull, you first need to actually open a Webull account. It needs to be the same account type (such as joint account to joint account) and have the same name as what’s listed on your old account.

With your Webull account open, it’s time to make the transfer. On the Webull mobile app, tap on the bull’s horns icon in the bottom row, then tap on the More icon. Next, tap on the Stock Transfer icon. The ACAT form will appear. Just fill in the requested details, and the securities from your old account will be in your new Webull account in about a week.

Once your transfer is complete, you’ll need to submit proof to Webull showing the exact fee amount. This could be a smartphone photo of a brokerage statement that lists the fee. The statement should include the same name and address that is listed on the Webull account.

To submit the photo, tap on the Menu icon (with three horizontal lines in the bottom part of the app). Next, tap on Deposit Bonus under the Promotion Center menu. There will be a widget inside here where you can submit your required document.

WeBull Account Bonus

Wait...There’s More

On top of its $100 transfer reimbursement policy, Webull also routinely has some enticing free stock offers. For example, on the day we did our research we found:

Deposit $100 and get one free stock valued between 8 and $1,600.

Invite a friend to Webull and get a free raffle ticket to enter a drawing for one free share (not bottle) of Coca-Cola.

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