How To Transfer From PayPal To Webull 2023

Webull has quickly gained popularity since its launch in 2017. This is due to its extensive research capabilities. Other platforms focus on simplicity while Webull was designed to help advanced traders. While beginners can still gain a lot from Webull's platform, it was primarily built for intermediate and advanced investors.

In order to get started with Webull, you will need to transfer funds into the platform to invest. There are a few ways to fund your account, including ACH and wire transfers.

However, in this article, we are going to cover the steps to transfer from PayPal to Webull. Let's jump right in!

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How To Transfer From PayPal To Webull

Funding your Webull account is most commonly done through an ACH transfer from your bank. If you have funds in your PayPal account that you want to move into your Webull account, then this article will help.

Unfortunately, there is not a way to directly transfer your funds from PayPal to Webull. Instead, you will need to follow the steps below:

1. Sign up for a Webull Account (if you do not already have one)
2. Transfer your PayPal cash to your Bank
3. Link your bank to Webull
4. Transfer from your bank to Webull

Let's take a closer look at each of these steps!

1. Create a Webull Account

The first step in this process is creating a Webull account. If you already have one, then you can skip to the next step.

In order to create a Webull account, you will need to meet the following criteria:

• Be 18 years or older
• Have a valid Social Security Number (not a Taxpayer Identification Number)
• Have a legal U.S. residential address within the 50 states or Puerto Rico (there may be exceptions for active U.S. military personnel stationed abroad)
• Be a U.S. citizen, U.S. permanent resident, or have a valid U.S. visa

If you are eligible for an account, then you can create one by going to Webull's website or downloading their app. To get started, you'll click "Sign Up."

Whether on the app or website, you will be taken through a series of prompts to create your new account. You'll be required to submit information such as name, email, phone number, address, SSN, and level of investing experience.

When creating an account, you will need to choose between a cash or margin account. A cash account is the typical brokerage account to trade securities like stocks. With a cash account, you can also trade crypto, though you will need to fill out a separate application to do so once your account is created.

After completing the new account application, your account will be reviewed. Typically your new account will be ready in as little as a day.

Use the button above to get a completely free stock when you sign up!

2. Transfer from PayPal to your Bank

Now that you have created an account with Webull, you are ready to get started. You will need to move your PayPal funds to your bank. Transferring from PayPal to your bank is very simple. Follow the steps below:

1. Open the PayPal app on your phone and log in, if needed.
2. Tap your PayPal balance.
3.  At the bottom of the screen, tap "Transfer," and then tap "Transfer Money."
4. Tap the bank account that you want to transfer money to and then tap "Next."
5. Enter the amount of money you want to transfer and then tap "Next."
6. Confirm that you want to complete this transaction by tapping "Transfer $X Now."

This transfer can take between 1 and 3 business days.

If you need to link a bank account to PayPal, you can do so by clicking on the wallet icon in the bottom navigation menu in the app. In the "Banks and cards" section, you will see a + icon. Tap the icon to add a new account. You will simply search for your bank and login to select an account to link.

3. Link your Bank to Webull

To link a bank to Webull, you will need to follow the steps below:

1. Login to your account in the Webull App
2. Tap the Webull Icon in the middle of the bottom navigation menu
3. Across the top, you will see a menu of options starting with "Assets." To link a bank account, tap "Transfers" in this horizontal menu
4. Tap "Bank Account" near the bottom.
5. Click on the "Add Account for ACH Transfer"
6. There are two options. You can either instantly add your bank account using Plaid, or you link your bank using 2 micro transfers.
   • If you select the "Real-Time Verification" method, you will login in to your bank account using Plaid, a third party security company. After logging in to your bank account, you will simply select the account you wish to connect
   • If you select the "Micro-Deposit Verification" method, then you will need to enter in your enter in your routing number, account nickname, and bank account number
     • Webull does not currently accept credit cards to transfer money into your account
     • Webull will then send you two micro deposits less than a dollar. Once you receive these two deposits, you will log back into Webull and verify the account by entering in the amounts that were transferred in. These two micro deposits will be transferred back out of your account. They are only for verification purposes.

Now that you have linked your bank account, you are all set. Transferring from your bank to your Webull account is quick and easy.

4. Transfer from your Bank to Webull

To transfer funds from your bank to Webull, follow the steps below:

1. Login to your account in the Webull App
2. Tap the Webull Icon in the middle of the bottom navigation menu
3. Across the top, you will see a menu of options starting with "Assets." To initiate a deposit, tap on the "Transfers" option
4. Tap on the "Deposit" option
5. The account that you added in the previous step will automatically show, unless you previously added in a different account. Be sure to select the bank account you want to transfer from
6. Enter in the amount that you would like to transfer
7. Tap on "Transfer to Webull"

Please be advised that if you transfer funds from your bank to Webull and there are insufficient funds, you will be charged a $5 reversal fee.

This transfer can take a few business days to complete.

Transfer From PayPal To Webull: Final Thoughts

Unfortunately Webull does not allow direct transfers from PayPal. Instead, you will need to transfer your PayPal funds first to your bank account and then into your Webull account.

While the steps are fairly simple, they do take a few days to process. This means that your funds from PayPal can take a number of days to actually appear in your Webull account.

Be sure to check out our full Webull review to learn more about the platform.