When initiating a deposit into your Webull brokerage account, Webull allows you to deposit funds in 3 ways:
(1) electronic Direct Debit Authorisation (eDDA)
(2) Fast and Secure Transfers (FAST)
(3) Telegraphic Transfer (TT).
In this lesson, we show you how you can deposit funds via FAST. FAST is an electronic funds transfer service that enables you to transfer SGD funds almost immediately from one bank to another within Singapore. FAST transfers have a maximum limit of SGD200,000 per transaction, with effect from 5 February 2018.
Step 1: Tap the Webull logo at the bottom of the screen
Step 2: Tap “Transfers” at the top of the screen
Step 3: Tap “Deposit”
Step 4: Tap “FAST”
Step 5: Select Deposit Currency
Step 6: Copy Transfer Info
Copy the recipient’s info and transfer the funds from your selected bank account.
Step 7: Tap “Notify Webull of Transfer Completion”
This notifies Webull that you have completed your transfer of funds via FAST.
Step 8: Fill in your fund transfer details
You are required to upload a screenshot as a Proof of Transfer of funds for each deposit via FAST.
Step 9: Tap “Submit”
Step 10: Deposit Request Review
Deposits made via FAST will typically be processed and reflected in your Webull brokerage account within 5 to 10 minutes after the transaction is confirmed.