Recently webull has been running this promo where new users will get R800 free upon depositing any amount. To deposit money to webull using Wise app is a great alternative since Wise support multiple banks unlike just directly depositing using your bank which may be limited to FNB, Standard Bank, and ABSA

If you’re looking to start investing on Webull, you’ll need to deposit funds into your account first, But using a bank transfer may cost a lot of money since you have to pay some fees of up to R100. in this article, I will tell you a way to avoid all these ridiculous fees. Not just that you can fund your webull account with Capitec, Nedbank, Tymebank, and more.

Wise (formerly known as TransferWise) is an eWallet that provides a low-cost way to transfer money internationally. This allows users to save money compared to traditional banks and other money transfer services that charge high fees and markup the exchange rate.

Webull is based in the United States and Australia so they only accept deposits in US dollars (USD) and in Australian dollars (AUD). If you’re living outside the US or using a non-US bank account, you may incur high fees and unfavorable exchange rates when depositing on Webull.

This is where Wise comes in. By using Wise to transfer funds to Webull, you can save money on SWIFT transfer fees and get a better exchange rate compared to traditional banks.

Before you can deposit funds on Webull using Wise, you’ll need to set up a Wise account. Here’s how to do it:

• Go to the Wise website and click “Sign up”.
• Enter your email address and create a password.
• Choose your country and currency.
• Enter your personal details, including your full name and date of birth.
• Verify your identity by providing a government-issued ID (passport, driver’s license, or national ID card) and taking a selfie.
• Add a bank account to your Wise account by providing your account details and confirming the micro-deposit amounts.

Once you have set up your Wise account, you can deposit funds from your bank account or credit/debit card. There are two options to do this but I will tell you about the one that’s going to save you a lot of money from fees. Here’s how to do it:

• First, get your deposit details from Webull Choosing AUD, not USD
• Log in to your Wise account.
• Click “Send money” and click on the + sign in the top right corner
• Choose your recipient to “Myself”
• Choose the currency you want to convert to (AUD, in this case)
• Enter the amount you want to deposit
• Review the exchange rate and fees.
• Confirm the transfer and Add your reference.
• Wait for the funds to arrive in your Wise account (usually within 1-2 business days).

In conclusion, depositing on Webull using Wise app is a smart choice for new investors who want to save money on fees and have a wider range of bank options. Remember that investing always involves risk, and there is no guarantee of success

So if you are looking for an alternative way to earn money online with no risk involved I have an article with my top 5 best earning websites in South Africa