Set up a payee and pay your bills with Wealthsimple

Once you’ve opened a Cash account, you can pay your bills directly from any of your Wealthsimple Cash accounts. Types of bills you can pay with Wealthsimple include:

  • Credit card bills
  • Phone bills
  • Utility bills
  • Tuition
  • Student loan repayments (such as OSAP)
Note: You can also set up a pre-authorized debit from any of your Cash accounts to pay your bills.

Keep reading this article to learn how to:

Add a payee

The first step to paying a bill is to add a payee to your account. Once you add your payee, you can select them anytime you need to pay a bill.

Tip: You cannot add people as payees in your Wealthsimple account. If you’re looking to send money to another individual, you’ll need to send them an e-Transfer instead.

To add a payee, follow these steps:

Mobile app Web
  1. Log in to the Wealthsimple mobile app
  2. Tap the Home tab at the bottom of your screen
  3. Choose your desired Cash account
  4. Select Pay a bill
  5. Tap Add payee
  6. Search for your payee and tap the associated name
  7. Enter a Nickname for your payee (optional) and your Account number
  8. Tap Add payee to confirm
Note: If you cannot find your payee, double check with your payee on ways to pay. Some payees only accept PADs or credit cards.
  1. Log in to your Wealthsimple account
  2. From the Home page, select your desired Cash account
  3. Select Pay a bill
  4. Open the To menu, then select + Add payee
  5. Search for your payee and select the associated name
  6. Enter a Nickname for your payee (optional) and your Account number
  7. Select Add payee to confirm
Note: If you cannot find your payee, double check with your payee on ways to pay. Some payees only accept PADs or credit cards.

Troubleshoot finding a payee

There are a few reasons why you may not be able to find your bill payee:

1. Possible user error
If you're having trouble finding a bill payee, make sure to double-check that you've spelled the payee's name correctly. Our system will not be able to identify a payee if it is spelled incorrectly. 

2. Payees that don’t accept payment through the bill pay feature
Some payees don’t allow payments to be made via a bill pay feature. Check with your payee to find out which payment options are available to you.

For example, most subscriptions (Spotify, Netflix, Amazon Prime) require payment with a debit or credit card. For these cases, you can use the Wealthsimple Cash card to pay.

3. Unsupported by Wealthsimple
At this time, Wealthsimple does not support payments to the following payees through bill pay:

  • Canada Revenue Agency (CRA)
  • Revenu Québec

Instead, you can set up a pre-authorized debit to make a payment to the CRA or withdraw funds to a linked bank account to pay Revenu Québec.

Pay a bill

Your bill payment will be processed within one business day. Depending on your payee's processing time, it may take up to 5 business days for them to post the payment as processed on their end. You can send up to $99,999.99 in a single bill payment to a payee. 

Follow these steps to pay a bill:

Mobile app Web
  1. Log in to the Wealthsimple mobile app
  2. Tap the Home tab at the bottom of your screen
  3. Choose your desired Cash account
  4. Select Pay a bill
  5. Select your desired payee
  6. To schedule the bill payment for a future date, tap the Date dropdown to select a future date
  7. To schedule the bill payment to be recurring, tap the Frequency dropdown to select a frequency
  8. Enter an amount to send and tap Next
  9. Review your information and tap Confirm to pay your bill
Note: If you do not have enough available funds in your account to pay the bill, your bill payment will not go through, and you will receive a notification that it failed. To re-initiate the bill payment, you will need to add funds to your account, wait the settlement period if applicable, and then follow the instructions above. 
  1. Log in to your Wealthsimple profile
  2. From the Home page, select your desired Cash account
  3. Under Add money, select Pay a bill
  4. Select your desired payee
  5. Enter an amount to send
  6. To schedule the bill payment for a future date, select the Date selector to choose a future date
  7. To schedule the bill payment to be recurring, select the Frequency dropdown to select a frequency
  8. Select Next to continue
  9. Review your information and select Submit to pay your bill
Note: If you don't have enough available funds in your account to pay the bill, your bill payment won't go through and you'll receive a notification that it failed. To re-initiate the bill payment, you will need to add funds to your account, wait the settlement period if applicable, and then follow the instructions above. 

Why does my bank statement show my payment made via Royal Bank of Canada versus Wealthsimple?

Wealthsimple has partnered with RBC to facilitate your bill payments. Once enrolled, you pay your bills directly from your Wealthsimple Cash account, and Wealthsimple uses RBC's systems to facilitate payment to the biller.  While some billers state the payment has been made by RBC, you can be assured your payment was made through Wealthsimple as a Wealthsimple customer.

Manage or remove a payee

You can update your payee’s nickname, view your payees, or delete a payee on the mobile app only by following these steps:

  1. Log in to your Wealthsimple mobile app
  2. Tap the Home tab at the bottom of your screen
  3. Choose your desired Cash account
  4. Select Pay a bill
  5. Tap the payee that you want to view or remove
  6. Select Edit payee to edit your payee information, or
  7. Select Delete payee to delete your payee
Tip: You cannot update your payees’ account number. If you need to change your account number, you will need to delete the payee from your account and re-add them with the appropriate changes.

Cancel a scheduled bill payment

Standard bill payments are processed soon after they’re submitted. Once the bill payment is in the Sent state, you can't cancel it through your Wealthsimple profile.

To cancel a bill payment in the Sent state, we recommend reaching out to the payee to see if they can reverse it on their end.

Follow these steps to cancel a scheduled bill payment:

Mobile app Web
  1. Log in to your Wealthsimple mobile app
  2. Tap the Activity tab at the bottom of your screen
  3. Tap Scheduled activities at the top of your screen
  4. Select the bill payment you wish to cancel
  5. Tap Cancel to cancel the bill payment
Note: You can cancel your scheduled bill payment until 5:30am EST on the scheduled date. After this time, you can't cancel the bill payment.
  1. Log in to your Wealthsimple profile
  2. Select the Activity tab at the top of your screen
  3. Select Scheduled activities at the top of your screen
  4. Select the bill payment you wish to cancel
  5. Select Cancel, then select Cancel payment to cancel the bill payment
Note: You can cancel your scheduled bill payment until 5:30am EST on the scheduled date. After this time, you can't cancel the bill payment.

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