Transfer Restrictions and Rejections

Why is my account restricted after initiating a transfer from Webull?

When you initiate a transfer out request from your Webull account, certain restrictions are applied based on the type of transfer:

Partial account transfer

• Your account will be restricted from trading, deposits, and withdrawals while your assets are confirmed for transfer.
• Once the assets are confirmed, they will be transferred to the receiving brokerage. Your account will then be unrestricted and available for regular use.

Full account transfer

• Your account will be restricted from trading, deposits, and withdrawals while your assets are confirmed for transfer. Once the transfer is completed, your Webull account will be closed.
• Any additional funds or assets added to your account after it has been closed will be transferred to the receiving brokerage through a residual sweep.

Why was my outgoing transfer rejected?

Multiple transfer requests

If you submit multiple transfer requests while one is still in progress, your transfer will be rejected. Only one transfer request can be active at a time.

Insufficient funds

If you attempt to transfer your account and do not have enough cash to cover the $75 transfer fee, the transfer may be rejected.

Unsettled trades

If you have a recent sale that has not yet settled, your transfer will be rejected. Before initiating a transfer to another institution, your Webull account must have fully settled cash and securities.

Account type mismatch

Your transfer could be rejected if the account type at your receiving institution does not match the account type of your Webull account. It is also crucial to make sure that your name and social security number matches between your Webull account and the receiving institution.

Incorrect account number

If you do not enter your Webull account number correctly, your transfer will be rejected. Please make sure to follow the outgoing transfer guidelines found here.