How To Transfer From Webull To Your Bank In 2023

So you've got some money and stock positions you'd like to sell off in your Webull app. Maybe you've found yourself using other investing apps recently, or just found some extra money lying around you'd like to put to use.

Navigating investing apps like Webull can get frustrating if you get lost in all the tabs and menus. However, today we're going to show you exactly how to transfer your money from Webull to your bank account, from A to Z.

How To Transfer From Webull To Your Bank

Webull is a powerful app for investors who like to have full control over all the different ways to interact with stocks. Because of this, there are several different menus and layers of options, and if you're not a very active user, it can be easy to get in over your head.

Thankfully, transferring money out of Webull is pretty straightforward. Here's what we're looking at:

1. Link your Bank Account In Webull
2. Sell off any Stock you'd like to Cash Out
3. Transfer Your Money From Webull To Bank

Now, let's get to work!

1. Linking Your Bank Account In Webull

If you're confident you've already linked your bank account to Webull, feel free to skip this step!

In order to link your bank account in Webull, you'll need to know your online banking login info (for real-time verification), or have your bank account number and your bank's routing number (for micro-deposit verification).

Linking Your Bank Account Inside the Webull App

1. From your main menu, select the Webull icon in the bottom center of your Watchlist page
2. Scroll down to where it says "Bank Account", and select "Add Account"
3. Follow the prompts, using Plaid to log in to your bank account for Real-Time Verification
4. If your bank isn't found in Plaid, instead choose the "Micro-Deposit Verification" option
5. Enter your bank account number and routing number to receive your two micro-deposits
6. After you've received the microdeposits, verify the amounts in the Micro-Deposit Verification page inside the Webull app.

The micro-deposit verification process can take up to 2 business days. You'll need to have your bank linked to Webull before you can withdraw money out of your Webull account.

2. Selling Off Assets In Webull

If all you're withdrawing from Webull is cash that's already settled, move on down to step 3!

From your homepage in the Webull app, take the following steps:

1. Select the Webull icon at the bottom center of the screen
2. Scroll down to where it shows "My Positions"
3. Select the stock you'd like to sell by clicking its ticker symbol
4. Choose the "Sell" icon at the bottom of the screen
5. Choose how you'd like to sell your stock, from among the Limit, Market, Stock, and OTO options (Limit is fine, allowing you to limit the lowest price you'd sell the stock at)
6. Choose the "Quantity" amount of stock you'd like to sell (100% for a full sell-off)
7. Select whether you'd like to sell during normal market hours, or extended trading hours
8. Confirm everything is correct, and press "Sell", and confirm again to complete the sale.
9. Repeat for each stock you'd like to sell

Funds will take 1-2 business days to settle from selling stock in Webull.

3. Transferring Money From Webull To Your Bank

Finally, after your bank has been linked, and your funds have settled from selling off your stock positions, you can withdraw your money from Webull to your bank.

From the home screen in the Webull app, take the following steps:

1. Select the Transfer tab at the top of the menu
2. Select "Withdraw"
3. Enter the amount of money you'd like to withdraw
4. Confirm all details are correct, and press "Transfer to My Bank"
5. Verify your identity by entering the Verification code sent via text message to your phone

Transferring Money From Webull To Your Bank: Quick Reminder

By selling off stock at a profit or loss, you create a taxable event that you may be liable for.

Make sure that you understand all tax implications of the moves you make in Webull before moving any big money around.

Luckily, we have a rundown on all the different taxes involved with Webull for you right here.

See you at the top!

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