Webull Cash Interest Rates
Webull now has an FDIC-insured cash program that pays a high interest rate on uninvested cash.
Right now, the APY is an impressive 3.85% APY.
This rate is probably much higher than what your local bank pays.
Webull used to have an SIPC-insured cash account that did not use partner banks. That program is no longer available, and now only the FDIC-sweep system is offered.
Webull Premium subscribers earn 3.85% APY on uninvested cash in individual and joint cash accounts, with no minimum balance. Non-subscribers get 3.5% APY if their account has more than $25,000, and 0.25% APY if not. Webull Premium costs $3.99 a month or $40 a year.
Webull charges no ongoing fees for its FDIC-insured cash management program. There are no low-balance or monthly fees, and no minimum deposit is needed to open the cash account.
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Webull Cash Sweep
Customers who used the old SIPC program but haven’t signed up for the FDIC-sweep need to enroll in the new program. If you’ve never used either, you’ll also need to sign up—the FDIC-sweep is off by default.
To sign up, log in to the Webull mobile app (the website and desktop apps can’t do this) and tap the main logo with the bull’s horns in the center of the bottom menu. On the next page, tap the button to start the new cash program. Follow the prompts and complete the digital paperwork, including signing with your signature on the screen. A new account is not created for this.
Not all Webull accounts are eligible for the FDIC-sweep program. If you cannot sign up, contact Webull’s customer service. Most regular taxable accounts and IRAs are eligible.
Each brokerage account can use up to 4 partner banks, giving up to $1 million of FDIC insurance. If your cash balance is above that, the extra stays at Webull and is protected by SIPC insurance, with a $250,000 SIPC limit on idle cash.
Interest earned in Webull’s cash program is added to your account on the 15th of every month (or earlier if the 15th is not a business day). The money is ready for trading the next business day. Only settled cash earns interest in this program.
Webull Bank Sweep
Webull uses several banks as sweep partners. Currently, these banks are:
Legacy Bank & Trust
Webster Bank
Keystone Bank
First State Bank
Preferred Bank
If you already have deposits at any of these banks, it will lower your total FDIC coverage through the sweep program.
Webull lets you withdraw any amount of cash from an account using the FDIC sweep. This makes it easy to use your Webull account like a checking or spending account, but there are no checks or debit cards offered with this service.
Updated on 11/1/2025.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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