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Webull Debit Card in 2025
Webull checking account and APR interest rate. Does Webull have a debit card
with ATM fees rebates, bill pay, and credit card rewards?
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Webull Debit Card and Checking Account
Unfortunately, Webull does not offer debit card or checking account right now. If you
want to get all this and more, we recommend
Robinhood. Learn more about
Robinhood Spending Account.
Robinhood Incentive
Free stock up to $200 and 3% match when you open an account.
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Webull Incentive
Open Webull Account
Overview of Cash Management at Webull
• Webull customers can sign up for the company’s cash-management program.
• Some accounts are not eligible for Webull’s cash-management service.
• Banking tools, like checkwriting, are not available in Webull’s cash program.
Webull knows its clients have cash needs, which is why it has rolled out a new cash-management service. It fails in some areas, though.
Cash Management Highlights
Webull’s new cash-management program is not a discrete account. Rather, it is an FDIC-sweep system that moves uninvested cash from a brokerage account to program banks. Here, the idle cash earns interest and receives FDIC protection. Currently, the interest rate is 5.00%. Only cash that is settled earns interest, and cash held in reserve for cash-secured puts does not accrue interest.
In its cash program, Webull employs a variety of banks to hold its customers’ uninvested cash. Right now, the list includes:
Webster Bank
First State Bank
Preferred Bank
Legacy Bank & Trust
Keystone Bank
Each Webull customer is eligible for up to $1 million in FDIC insurance, which is 4 times the normal limit. Webull is able to offer this level of protection by using 4 program banks for each customer. Existing balances at any bank will reduce the maximum level of available insurance in Webull’s program.
Any cash above $1 million in a Webull brokerage account will remain with Webull, where it will be protected by SIPC up to the standard $250,000 limit. This cash balance does not earn interest, which is really important to note.
Transferring cash from a brokerage account to one of the 4 program banks does not decrease buying power in the trading account. Funds will automatically be sent back to Webull when they are needed for a trade. Everything is automatic, and there is nothing for the client to do.
Margin accounts at Webull are not eligible for the company’s cash-sweep program, although IRAs are. Some cash accounts may not be eligible, either.
The biggest downside of Webull’s banking service is the lack of any noteworthy cash tools. There is no debit card, for example, and just forget about checkwriting.
Applying for Cash Management
Because Webull’s FDIC-sweep system is automatic, the only thing that needs to be done in most cases is to open a cash (non-margin) brokerage account with the firm and deposit money into it. Older accounts that previously enrolled in Webull’s first cash-management service may need to enroll in the current program though through the mobile app (hit the Menu icon and then find the Cash-Management button).
Payment of Interest
Interest accrues daily, and Webull pays it on the 15th of every month.
Withdrawing Cash
Webull permits an unlimited number of cash withdrawals from a brokerage account enrolled in its FDIC-sweep program. There could be maximum withdrawal amounts or fees in some cases, however.
Cost of Cash Management
Webull charges no fees for its rather simple banking service. There is no minimum balance to earn interest, either.
Verdict
Webull has a low-cost and high-yielding cash program that comes with some dependable insurance. But customers will be left wanting more as many add-ons won’t be found. While other brokerage firms nowadays have debit cards, checkwriting, round-up programs, cash back, bonus investments, shopping discounts, and more, Webull simply pays interest and delivers FDIC insurance.
Webull also doesn’t have any money market mutual funds, which are available at many other brokerage houses these days. For investors who don’t need any of these perks, Webull’s cash-management program should be enough.
Updated on 5/7/2025.
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