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?

A transfer will be rejected for any of the following reasons:

• Multiple transfer requests: Only one transfer request can be active at a time. If you submit an additional request while one is already in progress, the new request will be rejected
• Insufficient funds: Your account must have enough cash to cover the $75 transfer fee. If the fee cannot be covered, your transfer will be rejected.
• Unsettled trades: Your account must contain fully settled cash and securities before a transfer can be initiated. If you have a recent sale that has not yet settled, your transfer will be rejected.
• Account type mismatch: The account type at your receiving institution must match the account type of your Webull account. The account holder's name and Social Security number must also match between both institutions. If any of these do not match, your transfer will be rejected.
• Incorrect account number: Your Webull account number must be entered correctly on the transfer request. An incorrect account number will result in rejection. Please refer to our outgoing transfer guidelines found here.
• Options positions in a partial transfer: Options positions cannot be transferred through a partial account transfer. If your partial transfer request includes options, it will be rejected. Options positions can only be transferred through a full account transfer.