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

• Credit card bills
• Phone bills
• Utility bills
• Tuition
• Student loan repayments (such as OSAP)

Keep reading this article to learn how to:

• Add a payee
• Pay a bill
• Manage or remove a payee
• Cancel a bill payment

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.

To add a payee, follow these steps:

1. Log in to the Wealthsimple mobile app
2. Tap the Home tab at the bottom of your screen
3. Choose your 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

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 and earn 1% cash back.

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

• American Express (AMEX)
• Canada Revenue Agency (CRA)
• Revenu Québec

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

Pay a bill

When you pay your bills with Wealthsimple, your payment will be processed within one business day. Keep in mind that it may take up to 5 business days for your payee to post the payment as processed on their end, depending on their processing time.

1. Log in to the Wealthsimple mobile app
2. Tap the Home tab at the bottom of your screen
3. Choose your Cash account
4. Select Pay a bill
5. Select your desired payee
6. If you wish to schedule the bill payment for a future date, tap the Date dropdown to select a future date
7. If you wish to schedule the bill payment to be recurring, tap the Frequency dropdown to select a frequency
8. Enter an amount and tap Next
9. Review your information and tap Confirm to pay your bill

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 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 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

Cancel a bill payment

As standard bill payments are processed soon after they’re submitted, we cannot cancel the bill payment from our end. 

Scheduled bill payments can be cancelled 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 Cash account
4. Select Pay a bill
5. Tap the Scheduled tab
6. Select the bill payment you wish to cancel
7. Follow the prompts to cancel your bill payment

No bill payment can be cancelled once it is in the Sent state. 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.