Each ACH deposit takes 5 business days to settle. Before the funds are settled, we will provide you with partial provisional credit as buying power, so you can start trading immediately. At this time, if your deposit was reversed due to insufficient funds, a non-transactional account, levies, or for any other reason, your account will be affected negatively:
- Your will be charged $30 by our clearing firm for each reversal;
- Your credit scores with Webull will be affected negatively. In severe cases, it may lead to an account closure.
To prevent reversals, we recommend taking the following steps before initiating an ACH deposit:
- An ACH transfer may take up to 5 days to de deducted from your bank account after initiation. You need to make sure to maintain sufficient balance in your bank account to cover the deposit until the funds are deducted.
- DO NOT USE someone else's bank account. If you are not the account owner, please replace this account with your personal bank account.
- Confirm that your bank account is compatible with standard outgoing ACH transfers, and that you’ve entered in the correct information when you linked the account.
- Refrain from using a savings account. Please be advised that not all savings accounts at bank and credit unions support ACH transactions, and many have limitations on the number of transactions per month. Please check with your financial institution first before initiating a deposit.
If you have any questions about a reversal, please contact your bank for a detailed explanation of the reversal. We don’t initiate reversals.