Qantas partnership with Webull (with intro offers)

[chrispy3276]

Following QFF's wrap-up with Superhero on 30 June, Qantas has wasted no time announcing a new partnership with Webull. This one won't be as appealing for people who trade shares on local markets, but will likely benefit people who trade on international markets.

Offers (launch and recurring):

• 1,000 points for people who deposit $500+ (or transfer $500+ worth of shares) and keep that balance in your account for 30+ days - appears to have no end date
• 200 points for every international trade (maximum 2,000 points per month) - ongoing
• Launch offer - 1 point per dollar for in your balance (minimum $2,000, maximum $100,000). Valid until 30 September 2026, but points will be paid in quarterly instalments through to 31 July 2027.

 

[SYD]

I might give it a whirl. I have some bundles of US shares in SuperHero that I was going to transfer out anyway.

Webull Australia partners with Qantas Frequent Flyer

Now there's even more ways to earn bonus points with this new partnership between Webull and Qantas Frequent Flyer.

www.pointhacks.com.au

 

[moa999]

What do they pay for dollars in the (I presume) cash balance.

They do appear to be CHESS sponsored and offer live market depth for ASX trades.

 

[SYD]

They do appear to be CHESS sponsored and offer live market depth for ASX trades.

Yeah, I meant to mention that earlier - which Superhero is not. I’ve only recently worked out how to transfer out of SH - now to give it a try.

 

[ithongy]

Been using WeBull US version since 2020. Great platform and a workaround for those who might be adventurous in obtaining an USA ITIN to open US bank accounts, brokerage accounts and US credit cards which can be more lucrative that Australian counterpart.

 

[woodyren]

A little adice would be appreciated. I am not a regular share trader but I stumbled onto some cheap US cruise line shares that dropped to rock bottom during the pandemic which are now roughly valued at 50K AUD. I have them in Commsec.

My plan is to just have them sitting there at present because I get regular on board spending money as a result. If I transfer them to Webull I should get the sign up offer and a point per dollar value each year?

 

[Strikes]

Yeah, I meant to mention that earlier - which Superhero is not. I’ve only recently worked out how to transfer out of SH - now to give it a try.

Would be keen to hear how your experience goes as I'm thinking of doing the same.

 

[SYD]

Would be keen to hear how your experience goes as I'm thinking of doing the same.

Ok. Well the devils in the detail (ie fees and some other hurdles) for these “free” traders.

TL;DR:
Superhero now let you transfer out but at $20 per holding.
Webull currently don’t allow transfers out at all.

I was happy setting up Superhero to score some bonus QF FF points (did quite well actually). I shifted some dog holdings across to sell which was fine. In the meantime I’ve purchase a couple of modest holdings in some US Tech stocks, that are technically fine there for now but being on “trust”, if Superhero folded, I’d loose those shares.

So I was looking to consolidate those under one of my local Nabtrade or Commsec accounts. This Webull partnership started so I thought it might be useful also.

I’ve setup Webull (best to do it via the app - it wants a selfie for security matching with ID), was reasonably straight forward. You then need to link a bank account if you want to get money in / out. Again reasonably straight forward. Similarly, requesting transfers in is easier than some others. Pre-populated form that you print and sign and submit. Yes, must print and wet signature only.

Yesterday, I lodged a transfer from Superhero of a small Oz stock I hold to test the process. Received an email from Superhero today asking to confirm I requested it and that I agreed to the $20 fee and had sufficient funds. Oh.

Also, asked why I was transferring out (I almost responded “It’s not me, it’s you”).

So at this stage, I might just get the $500 balance up in Webull. Take the 1000 pts and exit by selling the stock being transferred and taking my money.

 

[moa999]

Webull currently don’t allow transfers out at all.

Being CHESS sponsored you'd just get new broker to pull them.

 

[SYD]

Being CHESS sponsored you'd just get new broker to pull them.

That’s what I would have expected. Never had an issuing moving CHESS stuff around B2B.

Further researching and it looks like they do Chess B2B transfers out but don’t allow US shares to transfer out. So I’m glad I didn’t experiment with one of my US stocks…