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Written by Drew Cochran on November 9, 2023
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How To Transfer From Webull To SoFi 2023

Looking to switch your brokerage account to SoFi?

Regardless of why you might be looking to switch, it's easy to get confused about how to move your portfolio from one place to another.

Today, we're going to show you how to transfer your stocks from Webull to SoFi, step by step.

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1. Sign Up For SoFi

SoFi Robo Advisor

SoFi accounts are pretty quick to set up, and aren't too different from any other mobile banking sign up experience.

You'll have to give them your information, including your social security number, and then verify your information.

2. Locate Your Webull Account Info

You will need to safely copy the following details:

  • Type of Brokerage Account (Personal/Individual/Taxable, Roth IRA, traditional IRA, etc)
  • Your Webull Account Number

With ACATs transfers, if the names and account types in each brokerage don't match, your transfer could be delayed or even cancelled, which nobody wants.

Here's how to find everything inside Webull:

  1. Click on your profile icon in the top right corner.
  2. Click "Help Center."
  3. Scroll down to see your account number and account type.

3. Transfer Into SoFi

Now that your Webull account info is on hand, and your SoFi invest account is all set up, and both account types match, we can initiate your ACATs transfer.

How to Initiate Your ACATs Transfer:

  1. Log into SoFi and select "Invest."
  2. Choose "Transfer Account" in the app, or "Begin Transfer" on the dashboard.
  3. Search for Webull among the brokerages, and select it.
  4. Continue your transfer inside of the safe third-party security company Plaid.
  5. Sign into your Webull account inside of Plaid.
  6. Follow the remaining prompts to finalize the transfer.

This transfer can take up to 1-2 weeks to process.

Transfer Fee

Transferring out of Webull will cost you $75. However, if your transfer amount is at least $5,000, SoFi will reimburse you back for the fee.

Simply reach out to the support team within the app to request a reimbursement.

Article written by Drew Cochran

Read more

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