Deal has ended, view more webull deals by clicking here.
The Offer
- Webull is offering a bonus of up to $18,000 when you transfer your IRA across. To receive the triple your rewards you need to either enter another users IRA referral code OR have somebody use yours (valid once either way).
- Deposit $1,000+ and get $5 ($15)
- Deposit $6,500+ and get $30 ($90)
- Deposit $25,000+ and get $150 ($450)
- Deposit $100,000+ and get $600 ($1800)
- Deposit $500,000+ and get $3,000 ($9,000)
- Deposit $1,000,000+ and get $6,000 ($18,000)
- You also get a $75 reimbursement for fees if you transfer $5,000+
The Fine Print
- Must transfer funds between 11/17/23 and 12/19/23 11:59PM ET
- Must maintain funds until 8/30/24
- Rewards issued on 8/30/24
- Eligible Customers must maintain the amount of any Deposit Reward or Referral Reward (minus any trading losses) in their Webull Brokerage Account for at least 90 days from the date on which the Deposit Reward or Referral Reward is credited to their Webull Brokerage Account. If an Eligible Customer fails to comply with this requirement, Webull Financial may charge the Eligible Customer’s Webull Brokerage Account the cost of the Deposit Reward or Referral Reward.
- Full terms here
Our Verdict
As referral codes are only valid once, we will not be allowing readers to share codes as I suspect this will lead to many people not being eligible for the triple rewards. If you have a spouse or somebody you know that wants to do this bonus it seems like person A opens the account then person B opens an account with person A’s code and then you’ll both get the triple rewards (at least that’s how I understand it).
This seems to be a very attractive bonus and worth doing even though you’d be tying up funds for ~12 months.
For folks who’ve done an ACATS out from Webull, did you add “WEB” to the account number? (i.e. in the account number field of the receiving/destination broker’s transfer form)
Reading the Webull transfers guide, they instruct that to be done for their Omnibus accounts, which would be the case for IRAs: https://www.webull.com/help/faq/10958-Initiating-your-transfer
I had done an ACATS out from my individual margin account, but that was from Apex rather than Omnibus, so I did not add the prefix to the account number…
I had called up Webull prior to doing that transfer months ago and they mentioned it’s not necessary, regardless of the type of account… I know when I tried to add something to the account number, other brokerages like Etrade would ignore it and use the exact account number from the statement.
Thanks
For those transferred out do you leave the bonus still in webull or you transfered all out? Terms said you need leave bonus there for 90 days.
Agree rather safe than sorry
Anyone transferred out the Roth IRA assets yet who did this deal? Any issues? Debating just transferring back to Fidelity vs waiting for bonus that reimburses the $75 fee
I just transferred my Roth IRA back to Fidelity without any issues. Webull charged a $75 transfer fee, but I might request reimbursement from Fidelity and see what they say.
Thanks I’ll transfer mine too then.
I heard they have a form now at Fidelity you can submit for the fee reimbursement. I believe they’ll give it to you if enough assets total or transfer amount (something like $25k I think) but I worry about using too much as Fidelity is my main checking account now. With that said I don’t have a specific bonus in mind for the funds so maybe could just request
Yeah, I found this link for submitting a reimbursement request. I put in my request today and we’ll see how it goes.
Thanks for sharing! I’ll probably try after my assets move over. Too soon to do WF bonus again, currently doing Merrill Edge, and I don’t think any other major IRA bonuses now without 2-5 year holds.
EDITED TO ADD: I feel bad requesting if I am planning to move assets right away, but in this case I have no concrete plans to move anything .
And I thought the 8 month hold at Webull was too long but the $1800 made up for that.
Yup. The 2-5 year bonuses aren’t horrible but can make more if players like webull appear with heftier-than-normal bonuses. Plus I like to churn Merrill edge yearly.
Congrats and thanks for the DP!
Weird P1 credited and P2 declined saying charge is not valid type. Will re-submit for P2 and sent secure message with statement listing fee.
Did you do Citi weath management? That could be another possibility if you have 50k or more.
Thanks. I might do that one especially after my Merrill edge ira bonus posts as I think I might have $200k combined now for Roth will have to check. But I know it is all based on phone calls which is not my favorite activity.
If you have 200k and don’t have opted brokerage bonuses lined up it’ll pay more to move 200k quarterly in 50k chunks.
*other
Thanks so much,
Olympia . I’ll check it out.
$600 claimed and arrived on 8/29.
$1200 claimed on 8/29, expected to arrived by 9/13, but still not in as of today 9/17. Contacted chat and emailed [email protected] but still waiting, 888.828.0618 robot direct promo to chat.
Anyone know good escalation method if things not go smooth?
Got 3x Bonus –
hHad a small hiccup due to incoming assets back in late last-year. Reached out to WeBull support- they granted exception for 2-3 weeks extension for incoming assets delay (saved all the emails). Reached out to WeBull support again on Aug 31st to inquire about bonus Reward which didn’t get to me automatically (due to previously unable to meet incoming funding deadline). Showed all the emails and exception approvals (by WeBull) — and then they awarded this 3x bonus. WeBull made us whole – good job, thanks WeBull for keeping your word.
Again – folks, be alert on go checking MyRewards section and Accept the reward (within 30 days of Aug 30th, which is Sept 29 or prior) – otherwise Reward may disappear !! Act on it Right Away — if you don’t see the Reward – Definitely reach out to WeBull support right away!
So if I received the award deposited on 9/4/24 then I should wait for 12/5/24 to be on the safe side for moving it for another brokerage bonus?
I believe the restriction is only for the bonus not the original transfer amount.
Remember the following from the full t&c. May be why they make you wait 5-7 business days to see who tries to withdraw before 90 days from when reward is deposited
7. Eligible Customers must maintain the amount of any Deposit Reward or Referral Reward (minus any trading losses) in their Webull Brokerage Account for at least 90 days from the date on which the Deposit Reward or Referral Reward is credited to their Webull Brokerage Account. If an Eligible Customer fails to comply with this requirement, Webull Financial may charge the Eligible Customer’s Webull Brokerage Account the cost of the Deposit Reward or Referral Reward.
Webull get us the best deal and webull always pay ontime or even ahead of time, I won’t and it’s not fair to call Webull shady, period.
Has anyone received help for their promotion not being the correct amount? I received $1800 as expected but P2 received $450 and not the $1800 expected. I was looking at our apps and see that our live chats and messages from the past show in preview but I’m not able to click through when I open the live chat it just shows an icon of a blank page and no messages.
I’m really hoping that they’ll make it right. Two attempted phone calls have resulted in not reaching anyone.
I feared we’d all be comparing notes about this time of year with less than great news about Webull IRA promotion being awarded as promised.
For me, P1’s reward is TOTALLY incorrect, alarmingly so.
P2’s reward is (fortunately) correct and was just claimed today and (supposedly, will need to confirm) will be deposited into brokerage account on 9/14/24.
Couldn’t get through by phone.
I have sent an email message to customer service regarding P1 problem.
Will update this thread with any response, here’s hoping…
I wonder why reward won’t be deposited into your brokerage account until 9/14/24. For both P1 and P2, reward was claimed on 8/29/24 and deposited into our brokerage accounts on 8/30/24.
No idea! Was claimed today (8/30/24). I’ll be keeping a close watch.
Mine says 9/14 too and I know the t&c says can’t withdraw the bonus for 90 days or will lose it. Is it 90 from claim or from when deposited on 9/14? May be a way to trick folks to withdraw early. Whole process a bit shady
They deposited the funds though not available. Whole process is weird. You have to claim then deposit they say takes 5-7 bus days and then says up to 14th which is 10 bus days. But deposits in overnight but not available. A lot of hoops weird
Good luck. I’m remembering that they had granted an exception to both myself and P2 to bring over a higher amount. It looks like my extension worked but P2’s didn’t automatically apply. I’ve been on live chat and added some screenshots. P2 has messages from Dec. 2023 that they will apply the extension so I’m hoping someone on the back end can straighten it out.
I’ll update if/when it gets resolved.
Update – I was able to get through to Webull by phone today. I again mentioned that I had been granted an extension to fund the account which might explain the reward discrepancy. They did not immediately have a record of any extension, but fortunately I did, with screenshot of rep’s name, date, and “extension granted” in writing. I was told that the team will look further into this and get back to me.
P2 had been granted the same extension but P2’s reward was for the expected (tripled) reward amount. And that full amount landed in P2’s account today (9/3), not 9/14.
Is yours all sorted out? It took a lot of effort to get mine resolved. I learned through this process how essential it is to keep every shred of proof (screenshots, etc) and to never assume that the firm is tracking it as closely.
Yes, I just came back to update. They did make it right. I had screenshots too and my previous chats. I was nervous but it all worked out alright. Thus far, they have been really good to work with. I moved funds out but will do another bonus with them if the opportunity arises.
Does anybody know if the bonus will be deposited into the IRA account or the brokerage account?
brokerage
Like others said, reward was available for P1 & P2. Going to ACAT out to Wells Fargo for Premier bonus after cash reward is deposited to brokerage account. Webull’s promotions are confusing and mysterious but they’ve been consistent in paying them out in timely fashion.
Will webull issue a 1099-INT at the end of the year for the bonus?