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Webull Cash Management Now Paying 5% on up to $100k balance

enduser
  |     |   711 posts since 2015

Webull now paying 5% on the uninterested cash on accounts with balances under  $100,000

The cash management interest is accrued daily and is paid to your brokerage account automatically on the 15th of every month.

https://www.webull.com/cash-management

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6


enduser
  |     |   711 posts since 2015
The information on the Webull CMA has been updated. On their website they state in the FAQ that the CMA is currently by invitation only, but if you install the latest Webull app you can see the Cash Management Account listed. All you have to do is activate it if you already have a Webull account. Any cash in the regular account will be transferred to the CMA by end of day. You can currently only access the CMA account via the app for the time being. The CSR I spoke with stated that will change in the future.

You can have up to $1M as the money is spread among program banks. There is no limit on how many monthly withdrawals you can make, however only $50k at a time transfer per ACH is the current limit. Money is FDIC insured by each partner bank up to $250k. There are no fees associated with the CMA, and no minimum balance is required,

Updated Info
https://www.webull.com/blog/114-Cash-Management-Accounts
https://www.webull.com/help/faq/10832-US-Cash-Management-Q-A
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5
Sardonic
  |     |   34 posts since 2022
"Any cash in the regular account will be transferred to the CMA by end of day."

It's not giving me that option. I have two options for funding the CMA: ACH transfer from an outside bank or wire transfer from an outside bank. Pretty ridiculous that I can't just transfer money that's in my regular Webull account.

At first I went to the Webull website to sign up for the CMA. The website directed me to the Webull desktop app for accessing CMA. So I did that and then discovered that CMA is not on the desktop app, so I tried the Webull mobile app and it's on there, but with the limitation that you have to transfer money in from an outside bank.
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1
enduser
  |     |   711 posts since 2015
@Sardonic, I had the same issue you describe, just give it time and the uninvested cash will automatically populate to the CMA account in about 4 business days or so after activating it.

My CMA now shows my uninvested cash including daily interest earned, and pending interest [interest that will be credited on the 15th]. Depending on how much uninvested cash you have, you will see daily increases of interest earned.

Just be patient. They are still fine tuning and working out the bugs for this process. I also see the ability to move cash in via ACH from an external account as you describe.
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