Can I deposit US dollars into my Wealthsimple account?

While we can't accept Electronic Funds Transfers (EFTs) from US banks of US dollar accounts, you can send US dollars to your Wealthsimple account via wire. To start your wire, please email create a request for wiring instructions.

Note: Deposits must be greater than $25,000 USD to be accepted via wire

One thing to note is that your investment profile is comprised of both US dollar and Canadian dollar denominated securities. As such, a portion of your USD deposit will be converted to Canadian dollars to purchase Canadian denominated securities in accordance with your target allocation. There is 20 basis point fee on currency conversion in cases where we need to buy or sell US dollars in your account. This covers the price our brokerage has to pay in order to exchange currency. Thankfully, this is up 10 times cheaper than the 2% most banks charge to exchange currency!

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