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!
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:
Let's take a closer look at each of these steps!
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:
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.
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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:
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.
To link a bank to Webull, you will need to follow the steps below:
Now that you have linked your bank account, you are all set. Transferring from your bank to your Webull account is quick and easy.
To transfer funds from your bank to Webull, follow the steps below:
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.
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.