Withdrawing funds is just as simple as adding them. To withdraw funds from your Wealthsimple account:
- Log into your Wealthsimple account through a web browser such as Chrome or Safari. Please note that withdrawals cannot be initiated from the mobile application.
- Click on your name in the top right of the screen and navigate to the 'Withdrawals' tab
- Select the account you'd like to withdraw from and enter the amount.
- Click 'Set withdrawal'
Once you have completed the steps above, the funds in your account should arrive in five business days.
The day after the request is made, the funds will be liquidated. There is a regulatory settlement period of two business days for any trades and so the funds will be sent out on the second settlement day (or the fourth business day). This is when you will see the funds leave your Wealthsimple account.
It can then take up to 24 hours for your bank to post the funds on their end and so it can take up to five business days for the money to arrive in your bank account from the time the withdrawal is initiated.
Please allow an additional day if there is a Canadian or US holiday during this period as this adds an extra day to the liquidation process.
Withdrawals may also take slightly longer than five business days if you are withdrawing funds that you recently deposited to your Wealthsimple account. For more information, please click here.
If you need any help, feel free to create a request and our Client Success team will be happy to assist.