Overview

If you have an investment account at another bank, you can transfer it to Wealthsimple.

• If you want to actively manage your investments, consider transferring to a self-directed investing account.  
• For a hands-off approach where Wealthsimple manages your investments, transfer to a managed account.

Supported transfers

Before you begin, review the following:

• Check our supported transfers to ensure we support your transfer type.
• Don't transfer a chequing or savings account. Instead, you can make a deposit.
• Wealthsimple only supports transfers from Canadian institutions. We don't support cross-border transactions.

Tax considerations

There aren't any tax implications for transferring tax-sheltered accounts (like your RRSP or TFSA).

If you're transferring a non-registered personal account and need to sell your investments as part of the transfer, this will trigger a taxable event. You may need to report the capital gain or loss on your next tax filing.

Additional account transfer guides

We need specific information for some account types. See these guides:

• Transfer an RESP to Wealthsimple
• Transfer a pension to Wealthsimple
• Transfer funds from an external investment account to an FHSA at Wealthsimple
• Transfer shares from an employee stock program into a managed account

For all other eligible transfers, continue with the instructions listed below.

Tips for a successful transfer

To ensure a smooth transfer, review the tips below.

1. Verify that your Wealthsimple account information matches your bank's: Double-check the account number, full name, SIN, residential address and date of birth.
   • If your information doesn’t match, ask your bank to update your details.
   • You can also contact our support team to amend the transfer form for you.
     
     
2. Create the most accurate digital signature: If the transfer form signature is drastically different from your regular signature, your financial institution may reject the request.
   
   
3. Be aware of transfer-out fees from your institution: Your institution may charge a transfer-out fee, which will be deducted from your account value.
   • Transfers of at least $25,000 are eligible for a transfer-out fee reimbursement. Conditions apply. Learn more about our transfer fee reimbursement policy.
     
     
4. Make sure you’re transferring into the same type of account: The account at your bank must match the investment account at Wealthsimple. For example, transfer an RRSP to an RRSP at Wealthsimple.
   • For LIRA/LIF transfers, please ensure that the jurisdictions between your Wealthsimple account and your external bank account match.

Setting up your transfer

Transferring an account involves three steps:

1. Download a statement from your investment account
2. Decide how to transfer your account
3. Request a transfer in your Wealthsimple profile

Step 1. Download a statement from your investment account

Download an account statement from the investment account you want to transfer to Wealthsimple. You’ll need to upload this when you request the transfer.  

• Ensure your current information matches the details on your investment account statement.  
• If the information doesn’t match, your bank might reject the transfer request.  
• If needed, ask your bank to update your information before requesting a transfer.