Understanding Wire Transfers

A wire transfer is an electronic method for transferring funds through networks like SWIFT, the Federal Reserve Wire Network, or the Clearing House Interbank Payments System. Wire transfers are generally faster but more expensive than ACH transfers.

What should I know about wire transfers?

• Initiation: Wire transfers must be initiated from a bank account in your name. Third-party wires will not be accepted. Note that a returned wire transfer may be subject to additional fees imposed by the originating bank.
• Submission: Incoming wire transfers are initiated by your bank. Outgoing wires are initiated by Webull.
• Domestic vs. International: ABA numbers are typically used for domestic wires and SWIFT codes are used for international wires. Note that international wire transfers may incur fees from intermediary banks, potentially resulting in a reduced amount received.
• Processing times: Domestic wires typically complete within 1-2 business days, while international wires may take up to 5 business days. Buying power will be credited to your account once your wire transfer is received. However, it may be delayed by one business day if your Webull account has any open margin calls or active GFV violations.
• Irreversibility: Once a wire transfer is completed, it cannot be reversed, so ensure all details are correct before sending.