All About Cash Management

What is Cash Management?

Cash Management is a service provided by Webull Financial LLC (“Webull”) that allows eligible clients to earn interest each day on free cash balances in their brokerage accounts.

What is the interest rate on my cash?

Your annual percentage yield, or APY is variable and can change. The current APY can be viewed within the Webull mobile app.

Would cash held in reserve for cash secured puts accrue interest in the program?

No, the cash held in reserve for cash-secured puts will not accrue interest.

When will I receive my interest?

The cash management interest is accrued daily and is paid to your brokerage account automatically on the 15th of every month. The funds will appear in your account balance the next business day. If the designated day lands on a non-business day, the payment will occur on the prior available business day.

Why is my uninvested cash not earning interest?

We recently upgraded our Cash Management program to offer a higher APY yield through a bank sweep program. Going forward, Webull customers can earn interest under the bank sweep feature while the reserve interest product has been retired. Any clients who did not upgrade to the bank sweep product before July 1st were automatically unenrolled from Cash Management. Therefore, you may see no interest accrued since that date. To re-enroll, please navigate to Menu ➝ Shortcuts ➝ Cash Management.

Are there any fees?

No. Webull does not charge fees for participating in the Cash Management program.

Are there any minimum balance requirements for Cash Management? 

No. There are no minimum balance requirements to use Cash Management. 

How does Cash Management keep my funds safe? 

The uninvested cash in your brokerage account is swept to program banks, where it becomes eligible for FDIC insurance up to $250,000 per program bank ($1,750,000 in total). Be aware that your FDIC coverage is limited to $250,000 per bank, including cash within the bank sweep program and any other deposits you may hold at the bank. For more information on FDIC and SIPC coverage, please view SIPC and FDIC insurance.

How often can I withdraw from Cash Management? 

There is no extra limit on how many times you can withdraw your money from Cash Management. However, please note that withdrawals are subject to daily ACH transfer limits.

Does interest-bearing cash balance refer to the cash balance in my account?

Not exactly. The Webull cash management program calculates interest based on your settled cash also known as your free credit balance. You can view your daily interest generated from the Cash Management program in your Webull Mobile App.

How is my daily interest calculated?

The current formula is as follows:

Your daily interest = Your interest-bearing cash balance on the day * Current APY/365

You can check your daily interest generated from the Cash Management program in the Webull mobile app. For leap years, the divider of the above formula is 366 instead of 365.

Will my buying power decrease if I join the Cash Management program?

No, joining the Cash Management program will not affect your buying power.

Who is eligible to use Cash Management?

Cash management is currently only available to a limited amount of cash accounts (including IRA accounts). If your account is not eligible, please reach out to our Help Center for more information.

Which banks are in our network?

As of September 24th, 2024, the following FDIC-insured banks are in the program:

• Webster Bank
• Dayspring Bank
• Keystone Bank
• Third Coast Bank
• Legacy Bank & Trust
• Preferred Bank
• NexBank
• Banc of California

Note, Webull may change the network of program banks at any time. If a change is made, we’ll let you know in advance.

Cash deposited to these banks will be covered by FDIC insurance up to a total maximum of up to $1,750,000. That’s up to $250,000 per program bank, inclusive of deposits you may already hold at the bank in the same ownership capacity. While the FDIC insurance coverage limit at each bank is $250,000.

If you have any questions or want to exclude a specific bank from your sweep options, please contact us via the in-app Help Center or by calling +1 (888) 828-0618. We are available Monday through Friday, 9AM to 4:15PM ET. Keep in mind, if you have accounts with a program bank outside of the sweep program, the cash in those accounts will be combined and the total is subject to the FDIC limit of $250,000. Review the Webull Financial Cash Management Program Terms for more information.

Will I receive any tax forms due to my earned interest in Cash Management?

Yes. Interest you receive will be provided in an annual tax form.

Where can I find more information?

Please review the Webull Financial Cash Management Program Terms for additional details on the Cash Management program. Available at https://www.webull.com/policy.