Introducing PayTo: Streamlined Deposits for US Markets

Managing your trading account deposits with Webull has never been easier. PayTo represents a significant advancement in digital payment technology, offering Australian investors a seamless way to transfer money from their bank accounts directly to their Webull trading account. This innovative payment method eliminates the need to log into your bank account to make a cash transfer every time – simply use your Webull app to complete all your cash transactions.

We have recently expanded our PayTo offering to include the ability to deposit funds as USD, providing even greater flexibility for investors looking to trade across both Australian and US markets

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Key Features

Direct US Dollar Deposits

Our enhanced PayTo service now supports deposits that land directly into your account as USD. You simply nominate the AUD amount you want to deposit, and Webull will automatically withdraw that amount from your linked Australian bank account, convert it to USD, and deposit the USD straight into your trading account - all within about 10 minutes. This removes the need to deposit AUD and convert manually, and avoids the delays of traditional international wire transfers, which can take several days.

Enhanced Trading Efficiency

This feature significantly reduces the steps required to begin trading US securities. The automatic currency conversion and direct USD deposit process means you can go from funding your account to executing trades in the US market more efficiently than ever before.

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Getting Started

PayTo for USD Deposits:

1. Tap the Webull icon in App or “Transfer” tab on Webull website

2. Select “Deposit”

3. Choose “USD” as the deposit currency

4. Select “PayTo”

5. Specify the amount of AUD to be deposited and converted to USD

6. Review the conversion rate and confirm your transaction

Webull will automatically withdraw the equivalent AUD from your linked Australian bank account, convert it to USD, and deposit the USD directly into your trading account

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First Time PayTo Users:

Please follow the steps outlined below for your first time deposit:

1. Tap the Webull icon in App or “Transfer” tab on Webull website
2. Select “Deposit”
3. Choose “AUD”
4. Select “PayTo”
5. Select your bank from the dropdown list. Enter your BSB, Account number, and deposit amount, then click ‘Submit’.
6. Upload a valid bank statement or proof of account dated within 6 months displaying: Full name of the account holder, BSB code, Account Number, and the Bank Name.
7. You will receive a payment agreement request in your banking app. Please log into your online banking and approve the payment agreement within 15 minutes.
8. Once you have approved the payment agreement and the account ownership has been verified by our team, the funds will be transferred from your bank account to your Webull account*.

Note: Please note that not all banks and account types support PayTo payments. For any queries, please contact your bank directly.

*First time verification may take up to 24hrs, processed during Australian business hours.

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