[Manually Claim Bonus][Expired] WeBull Cash Management Account 5% APY + Cash Bonus Of Up To $3,000

Update 5/15/24: Bonus shows up in the My Rewards section of the app. You have to manually claim it so make sure to do that.

The Offer

Direct Link to offer | Terms

  • WeBull brokerage is offering a bonus when you open an account and enroll in the Cash Management feature and then make a deposit. The account earns 5.00% APY at the time of this writing.
    • Deposit $2,000: Get $10 bonus
    • Deposit $10,000: Get $100 bonus
    • Deposit $25,000: Get $300 bonus
    • Deposit $100,000: Get $1,200 bonus
    • Deposit $500,000: Get $3,000 bonus

Funds need to remain in the cash management account through May 7, 2024.

The Fine Print

  • Offer valid 9/25/23 – 10/30/23
  • Offer Eligibility: This promotional offer (the “Offer”) is open only to individuals who (a) are at least 18 years of age, (b) reside in the United States, (c) have a valid social security number or tax identification number, (d) and opened a brokerage account (“Webull Brokerage Account”) with Webull Financial LLC (“Webull”) on or after Sep 25, 2023. (“Eligible Customers”).

  • Offer Requirements: During the Offer Period, Eligible Customers must activate the cash management feature for their Webull Brokerage Account. Cash Management is only available for some Cash Accounts (excluding IRAs).

  • Offer Rewards: Eligible Customers will receive the Offer Rewards set forth in the chart below corresponding to their Net Deposit Amount. “Net Deposit Amount” means the amount equal to (i) the total amount of all cash deposited by an Eligible Customer to their Webull Brokerage Account during the Offer Period, minus (ii) the amount of all cash withdrawn or transferred by an Eligible Customer from their Webull Brokerage Account between 12:00 AM EST on September 25, 2023 and 11:59 PM EST on May 7, 2024.

  • Eligible Customers will not accrue Offer Rewards on a cumulative basis. For example, an Eligible Customer with a Net Deposit Amount of $30,000 as of 11:59 PM EST on May 7, 2024 will receive Offer Rewards solely in the amount of $300, and will not be entitled to receive an additional $110 of Offer Rewards for exceeding the preceding Net Deposit Amount tiers.

  • Offer Rewards earned by an Eligible Customer will be deposited to such Eligible Customer’s Webull Brokerage Account on or about May 8, 2024. Eligible Customers that have accrued Offer Rewards in accordance with these Terms and Conditions will not need to take any additional actions to accept or claim their accrued Offer Rewards.

  • Limit one Offer Reward per Eligible Customer.

  • Webull reserves the right, in its sole discretion, to declare an Eligible Customer ineligible to earn Offer Rewards, or to decline to grant accrued Offer Rewards to an Eligible Customer for any reason or for no reason, including without limitation (1) for such Eligible Customer’s failure to satisfy any Offer requirements or any violation of the terms and conditions of the Offer, (2) for any actual or suspected fraudulent, deceptive, or abusive activity in connection with any of the platforms or services offered by Webull or any of its direct or indirect owners, its affiliates, and/or its subsidiaries, (3) in connection with any attempt to undermine the legitimate operation of the Offer by cheating, hacking, deception, or other unfair or improper conduct, or (4) for violation by such Eligible Customer of the terms of any agreement to which it is a party with Webull or any direct or indirect owner, any affiliate, or any subsidiary of Webull.

  • Webull reserves the right to change these Terms and Conditions or terminate the Offer at any time without notice. Without limiting the foregoing, if for any reason the Offer is not capable of running as planned including without limitation by reason of any interruption of service, tampering, unauthorized intervention, labor dispute, fraud, or any other cause beyond the control of Webull, which, in the sole opinion of Webull, corrupts or affects the administration, security, fairness, integrity or proper conduct of the Offer, then Webull may, in its sole discretion, elect to cancel, terminate, modify or suspend the Offer. Webull may, in its sole discretion, elect to not pay or to rescind any payment of an Offer Reward if any portion of an Eligible Customer’s Net Deposit Amount does not settle, is reversed, or is otherwise determined to be improper or invalid. The Offer is not transferable or saleable and is available only to legal residents of the United States. This Offer is valid alongside, although separate from, any other promotions offered by Webull or any of its affiliates or subsidiaries. Employees, contractors, or persons similarly associated with Webull or its direct or indirect owners, its affiliates, and/or its subsidiaries; members of their household; referral partners; key opinion leaders and/or influencers; registered representatives of broker-dealers; employees of any securities regulatory organization or exchange; and/or employees of any market maker are not eligible to participate in the Offer or to earn Offer Rewards. The Offer is only available for personal use and may not be used for commercial purposes. Other restrictions may apply. Void where prohibited. No substitution, cash redemption, assignment or transfer of any Offer Reward is permitted, except by Webull, which reserves the right in its sole discretion to substitute an Offer Reward with another prize of equal or greater value.

  • All federal, state, and local taxes, if any, related to the Offer Rewards are the responsibility of the recipient.

  • Receipt of an Offer Reward does not constitute a solicitation, a recommendation to buy, sell, or hold any asset, or investment advice. Consult with your tax advisor about the appropriate tax treatment for this Offer and any tax implications associated with receipt of any Offer Reward before enrolling. Webull is not responsible for any taxes related to this Offer or the Offer Rewards. This Offer is not sponsored by, endorsed by, or affiliated in any way with any third party.

  • ACH Transfers: Clients who fund their account with an ACH transfer are responsible for having enough cash in their initiating bank account to cover the transaction. Webull takes no responsibility for any charges that an Eligible Customer may experience in connection with any ACH Transfer, including without limitation for any charges due to insufficient funds or ACH reversals.

Our Verdict

Looks to be a public offer offer for anyone who activates a new Cash Management account. These are some nice bonus tiers here given that the account earns a respectable 5.00% APY.

It is worth pointing out that if you have cash in another bank or CD earning, say, .50% more than the WeBull rate that would cut into the bonus significantly. For example, if you do the $100k tier and lose .50% for the six month hold period, that would eat into $250 into your $1,200 bonus and leave you with a net gain of $950. (Or if you have funds in bonds which are exempt from state taxes that would likewise be a factor.) Still sounds like this can be a nice deal for a lot of people.

WeBull is also offering a brokerage bonus now as well with similar tiers. I’d think you open a new WeBull brokerage account and cash management account, do separate deposits to each, and get both bonuses. For example, you could transfer $100k in assets to your new WeBull brokerage and get that $1,200 bonus, and separately transfer $100k in cash to your WeBull cash management account and get that $1,200 bonus.

Reader heard from WeBull reps that you can actually get bonus bonuses with the same funds if you do the Cash Management deal. For example, if you sign up for a new WeBull account, activate the Cash Management account, and transfer in $100k into the the Cash Management account, you would end up getting two separate $1,200 bonuses. Hmm…(Some readers suggest that if you transfer the cash over via ACATS transfer that’s more likely to trigger both bonuses.)

I believe (but I’m certain) that this Cash Management deal would be available even for existing WeBull customers who never activated the Cash Management feature whereas the WeBull brokerage bonus is only available for new WeBull customers. (Yes, this is all confusing.)

We’ll add this to our List of Best Bank Account Bonuses.

Hat tip to ShawntheShawn and Jay
    Chuck
  • On May 15, 2024, 20:30
Tags: bank bonusbignationwide bank bonuseswebull

View Comments (228)

  • I wanted to give an update on this bonus promotion. I was supposed to be credited with the $1200.00 5/2024. I had that in my calender as a reminder. I messaged Webull and tried to claim I was not entitled to it. Something abotu a $300 bonus which expired. I wrote a wtronger note to them and they said they would credit me the $1200 which I have to claim (I believe) from some promotion page. I also took advantge of the stock transfer bonus which was a huge one. I have emails from them about it and will monitor that. For that promo there was some $100 credit for me transferring the stocks to them. They claim I did not claim the bonus when posted to that promotion page. Such a policy is definitely bad faith. I am getting the $100 from when this week as well. I would be very careful with them and monitor this closely. Previously I had zero issues with Tasty promotion and Wells Fargo. Zero intervention needed. Citibank was another one I had to go chase down and file complaints to get that minor oversight on their behalf. .

  • How are folks transferring out assets?
    ACH takes 3-5 days while for wires they request a bank statement (it's not clear where) despite validating online the target account (instant validation).
    Of course that has happened after making the transfer, while it shows up as pending at the end of the business day.
    I'm thinking of just doing an ACAT instead - costs 75$ but the alternative might not be worth the trouble.

  • i had no issue getting the bonus i got $1200 kept the entire balance there til may 8th

  • I guess some people here were trying to play a loophole in their wording. So people were depositing cash, converting it to stock (or had pre-existing stock), then transferring out stock and are now complaining that they did not get the full bonus? I guess you got them with the wording if it said "cash withdrawals" but the terms also have a generic out for themself "Webull may, in its sole discretion, elect to not pay or to rescind any payment of an Offer Reward if any portion of an Eligible Customer’s Net Deposit Amount does not settle, is reversed, or is otherwise determined to be improper or invalid."

    • I see how this could be gamed by what you suggested..

      However, in my case, it was they who were trying to game me :) I kept 100k+ cash in the account at all times.. I deposited assets worth X (for the other bonus) and when I got them out, they appreciated to X+$20k.. so webull was claiming that my net assets were less than 100k..

      Anyhow, it seems I was not alone and with people like JT who complained to CFPB and FINRA, I was able to get the whole bonus eventually..

      Thanks again everyone..

      • I just had to fight to get the $1200 from them and another $100 from transfer in of stock on their second promo. You have to be vigilant with them. I followed the exact terms of the offer depositing cash and keeping it there.

      • I think in your situation you can make a clear case you were not trying to game the promotion. I probably would have not gambled with the bonus by pulling out net assets, but I can see your argument since it does say cash. Their customer service is responsive so hopefully they will fix it for you.

  • The term "Net Deposit Amount" means literally ALL deposits minus ALL withdrawals. Those terms below are misleading, as their definition is in direct conflict with the actual definition. It's like if they required the deposit to be there for 3 months... but by 3 months we mean 6 months.
    If they wanted to avoid this, they should have used the term "Net Cash Deposit Amount". I would file a complaint.

  • Apparently, they are manipulating here.

    I was able to find a copy of the terms and conditions and they state the following -

    “Net Deposit Amount” means the amount equal to (i) the total amount of all cash deposited by an Eligible Customer to their Webull Brokerage Account during the Offer Period, minus (ii) the amount of all cash withdrawn or transferred by an Eligible Customer from their Webull Brokerage Account between 12:00 AM EST on September 25, 2023 and 11:59 PM EST on May 7, 2024.

    It clearly states CASH deposits and CASH withdrawals.
    They are using bait and switch tactic now.

    Can I report them to any financial oversight agency for this?

    • Had same issue. Tried through chat first on 5/11, they were not helpful, requested supervisor 5/12, they weren't helpful, requested their supervisor and filed a complaint with the CFPB on 5/13, who in turn told me to contact FINRA.

      While I was filing the complaint with CFPB, supervisor came back and informed me they had sent the request to credit the additional $900 to my account 5/14, $900 showed up to be redeemed 5/15.

      • I was out of the US the past few weeks but had a reminder on the $1200 I was owed. Had to email them and get the runaround. My second email threatened action and they said of course your bonus is being credited and there is no issue.

      • Thanks for sharing..

        After about a dozen or so to-and-fro (and perhaps because of your complaints to CFPB and FINRA), they finally gave me the additional $900 too..

  • I kept 100k+ in cash in the account and still got only $300 bonus.

    I tried talking to them and they are adding in the stocks that I brought in for the other promotion. The stocks increased in value over a month so the net balance out is greater than the net balance in.

    I believe this is a bait and switch as they need to consider only the cash part for the cash promotion. Would anyone have the a screenshot to the original T&C?

    What else could I do to fight here? I can complain with CFPP but I don't think this is going to help much.

    • Go after them. I deposited the 100K+ and they said there was a $300 bonus that expired because I didnt claim it. Seems like from the posts here that is the game they are playing. Now after a stronger email to them I am told I waill have the $1200 within 24 hours plus a $100 transfer in bonus on the stocks I transferred on the other promo. I am sure Ill be fighting for the first half of that promotional money which I was told I would have right after 12/31/2024. They definitely didnt make things clear in these promotions and its clear to me that only customers who fight for the full amount will get it.

    • Had same issue. Tried through chat first on 5/11, they were not helpful, requested supervisor 5/12, they weren't helpful, requested their supervisor and filed a complaint with the CFPB on 5/13, who in turn told me to contact FINRA.

      While I was filing the complaint with CFPB, supervisor came back and informed me they had sent the request to credit the additional $900 to my account 5/14, $900 showed up to be redeemed 5/15.

  • I had to contact customer service to get the bonus added to My Rewards section.

    • The idea that you have to go that prmotion page to claim the money is in bad faith. I didnt even know abotu the page. Then they tell customers it expired not claimed. Anyway I am getting the full amounts owed which is $1200 for me and the stock transfer fees for the second promo of $100.00.

  • Balance never fell below the $100,000 threshold, but $300 coupon added to account. Complaint filed with CFPB

  • Bonus has shown in the My Rewards section of the app. $300 for me, but you have to manually claim it (by 6/6/2024 for me). Now showing as "In-Transit" and should be deposited within 7 business days.

    Kinda weird you have to manually claim it as a cash voucher, but whatever. We'll see in a week.

    • mine is the same. It's sneaky they used this reward coupon with an expiration date instead of just post the rewards to your account. @6 I think we should have an update post on this to remind people to check their account. Not everyone of us has a calendar to remind ourselves to check these accounts.

    • So odd. I did get bonus also but I don't think I met requirements for this longer holding period...

        • Transferred into CMA for other promo and then ended up having cost basis issues and made them transfer funds to margin account individually held at Apex as I wanted to see cost basis. Transferred out at end of that promo but just saw and claimed the CMA promo reward in my WeBull app. Will see if it actually credits.

          • It posted and I requested a withdrawal.

            There is a slight regulatory twist as the funds were withdrawn after my account was said to be forcibly converted to an omnibus account from an apex account (some reps did tell me I could move funds between webull accounts freely when they were initially transferred to CMA and still get bonus) and funds were transferred out (with fees waived) under that pretext. But I honestly think they probably just screwed up in crediting the bonus.

    • Thank you for the heads 'up. Got mine too, I confirm you need to claim it manually. Thanks!

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