In this video, we'll show you how to deposit money into Webull for free and without paying any wire fees.
Try Webull for free ► https://themillennialfinance.com/webull
Open a Wise account for free ► https://themillennialfinance.com/wise
So you're ready to sign up with Webull and use it as your broker but notice that the deposit and transfer fees can go up to $45 per transfer 🤯 No way we're paying for that.
Webull is a great app. It's easy to navigate, they have lots of products to trade and they just announced fractional share trading coming to the platform soon.
But the biggest problem with Webull are the huge deposit and withdrawal fees for non-U.S citizens.
In this video, we show you how to work around this problem and deposit/withdraw your money for FREE.
Here are 3 things you need to make this happen:
1. A Webull account ► https://themillennialfinance.com/webull
2. A Wise account ► https://themillennialfinance.com/wise
3. A CIMB Singapore Account (optional, but this makes the transfer fees $0 instead of just lowering the fees to about $5)
Watch the video to find out exactly how to perform this free transfer method with an ACH transfer.
This process may be a bit of a hassle in the beginning, but you only need to do it once and once it's done you can save yourself all the money that you would have paid in fees to the banks. Definitely worth it.
You can also use this method for other brokers like TD Ameritrade or Interactive Brokers.
Timecodes:
00:00 - How To Deposit Money Into Webull For FREE (NO WIRE FEES)
0:32 - Why use Webull as my main broker
1:00 - NEW fractional shares coming to Webull
1:31 - The BIGGEST problem with Webull
2:10 - 3 things you need for this method
2:41 - The ACH transfer method
3:27 - Introduction to Wise
4:26 - How to open a U.S bank account with Wise
6:05 - How to deposit into U.S bank account (minimal fees)
7:52 - How to get ZERO fee deposits with a CIMB Singapore bank account
8:59 - How to deposit into Webull with your new bank account
10:43 - Is this method worth it?
11:41 - Does this method work for other brokers?
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