In this article:
Overview
Wealthsimple offers a secure way to receive funds through wire transfers in both Canadian Dollars (CAD) and US Dollars (USD). You can receive wires from your own accounts at most domestic and international banks, or accept third-party wires into eligible Wealthsimple accounts.
Wire transfers typically process within 3 business days with no fees from our side.
Setting up a wire transfer
To continue, select where your funds are originating:
- Domestic wire instructions (funds are sent within Canada)
- International wire instructions (funds are sent from outside Canada)
- USD wires through Wise instructions (funds are sent within or from outside Canada)
Domestic wire instructions
Follow these steps to set up a domestic wire transfer:
- Log in to your Wealthsimple app
- Tap the Move tab
- Under Send and pay, tap Receive a wire
- Select an account to wire funds to
- Tap Next
- Review the transfer requirements and tap I understand
- View your wire transfer details
If you don't use the mobile app, you can refer to Wealthsimple's beneficiary details below.
You must provide all of the details below to the bank teller processing the wire.
Receiving bank:
- Bank name: Wealthsimple Investments Inc.
- Bank address: 201 - 80 Spadina Ave, Toronto, Ontario, Canada M5V 2J4
- Bank ID/routing number: 070300001
- Institution number: 703
- Transit/branch number: 00001
Beneficiary:
- Full name: Your full name (exactly as it appears on your Wealthsimple profile).
- Address: Your address on file with Wealthsimple.
- Account number: Your Wealthsimple account number (starts with a W or H). Review our FAQ if you need to provide a numeric bank account number.
- Reference/memo: Your reason for sending the wire.
International wire instructions
Follow these steps to set up an international wire transfer:
Wealthsimple partners with the Royal Bank of Canada (RBC) to receive international wires. Please use the information provided below to initiate your wire transfer.
Receiving bank:
- Bank name: ROYAL BANK OF CANADA
- Bank address: 200 Bay Street, Toronto, Ontario M5J 2J5
- SWIFT/BIC code: ROYCCAT2
Intermediary bank (for credit to):
- Bank name: Wealthsimple Investments Inc.
- Account number, IBAN or CLABE: 070300001
- Institution number: 703
- Transit number: 00001
Beneficiary (for further credit to):
- Full name: Your full name (exactly as it appears on your Wealthsimple profile).
- Address: Your address on file with Wealthsimple.
- Account number: Your Wealthsimple account number (starts with a W or H). Review our FAQ if you need to provide a numeric bank account number.
- Reference/memo: Your reason for sending the wire.
Wealthsimple partners with the Royal Bank of Canada (RBC) and JP Morgan Chase to receive international wires. Please use the information provided below to initiate your wire transfer.
Beneficiary bank / Account with Institution / Creditor Agent:
- Bank name: ROYAL BANK OF CANADA
- Bank address: 200 Bay Street, Toronto, Ontario M5J 2J5
- SWIFT/BIC code: ROYCCAT2
Correspondent bank / Intermediary (for credit to):
- Bank name: JP Morgan Chase
- Bank address: 270 Park Avenue, 43rd floor, New York, NY. 10017
- SWIFT/BIC code: CHASUS33
Beneficiary / Creditor (for further credit to):
- Full name: Wealthsimple Investments Inc
- Address: 201 - 80 Spadina Ave, Toronto, Ontario, Canada M5V 2J4
- Account number: 071724001509
Reference / memo
- Your Wealthsimple account number (starts with a W or H).
First-party USD wires from Wise to USD Wealthsimple accounts
Follow these instructions to set up a USD wire transfer from Wise to your Wealthsimple USD account:
- In the Wise app/website, tap Send
- Select Add Recipient
- Choose USD as your currency
- For Add a Recipient, select Bank Details
- For Who's your recipient?, select Myself if you’re the recipient or Someone else if sending funds to another Wealthsimple recipient
- For the recipient's bank details, select the SWIFT tab as your transfer method
- In the full name of the account holder field, replace your name with “Wealthsimple Investments Inc.” If you use your full name here, the wire will fail.
- Enter ROYCCAT2 in the SWIFT/BIC code field
- Enter 071724001509 in the IBAN/Account field
- Select Canada in the Country field
- Enter 201 - 80 Spadina Ave, Toronto, Ontario, M5V 2J4 in the Address field
- Tap Continue
- Important: In the reference field, enter the full name of the account’s owner and Wealthsimple USD account number (For example, John Smith and W1234567USD.) For corporate accounts, enter the full name of the business and Wealthsimple USD account number (For example, Ontario 123456 Inc. and W1234567USD).
Eligible accounts for wire transfers
CAD wire transfers
We accept first-party CAD wire transfers into all accounts except Crypto accounts.
We accept third-party CAD wire transfers only into the following types of accounts:
- RRSP
- RESP
- Corporate account
- Non-registered
- Chequing
USD wire transfers
We accept first-party USD wire transfers as-is into the following account types:
- USD savings, or
- One of the following (you must have USD accounts enabled):
- TFSA
- RRSP
- FHSA
- Individual RESP
- Spousal RRSP
- Corporate account
- Non-registered
We accept third-party USD wires only into the following account types:
- USD savings, or
- One of the following (you must have USD accounts enabled):
- RRSP
- Individual RESP
- Non-registered
Transfer timeline
We process most wires on the same day, while some wires can take up to 3 business days to process once we receive the wire. Third-party wires may take longer to process. Your bank's wire submission timelines will affect when we receive and post the wire.
Once a wire is posted to your account, the funds will be available for use immediately.
Frequently asked questions
Will I pay a fee for receiving a wire?
We won't charge you any fees when we receive your wire successfully. Please check that your wire details are correct. Otherwise, it could be delayed or returned. If a wire is returned to your bank, a $25 non-refundable fee is deducted from the balance.
What should I input if I see “For credit to / For further credit to”?
Please follow the International wire instructions in the Web tab.
Do I need to provide any additional information when receiving wires from another person?
- All third-party wire details must contain a reason in the memo field. If you don't provide a reason for the wire, we'll have to delay it and ask you for more information. If we don't hear back from you within 7 business days, we'll cancel the wire transfer.
- For RRSP and RESP accounts, in addition to providing a reason in the memo field, we'll also require a contribution letter uploaded to your profile. Failure to do so will result in delays. Follow the steps to upload documentation to your profile.
I need to provide a numeric account number. What should I provide?
If your bank doesn't allow inputting letters from your desired Wealthsimple account number, you can use your Wealthsimple Canadian dollar chequing account's direct deposit information instead.
Can I still use the TD wire instructions to send wires?
No, we don't support our previous wire instructions via TD anymore. Please use the wire information above. We'll reject all wires using the TD wire instructions.
Which countries can I receive wires from?
Should I use the instructions provided on the mobile app?
For international USD wires to WS from outside Canada, please follow the Help Centre or chatbot instructions. For domestic CAD wires and international CAD wires, you can use the mobile app instructions for now.
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