In this article:
Overview
We're a direct member of the SWIFT network, so we can receive wire transfers in Canadian dollars (CAD) and US dollars (USD). You can receive wires from your own accounts at most domestic and international banks, or receive third-party wires into eligible Wealthsimple accounts.
Wire transfers typically process within 3 business days. We don't charge a fee to receive a wire, but fees can apply if a wire is returned or converted to another currency. Learn more about fees.
You can also download your wire instructions as a PDF to give to your bank, employer, or lawyer.
Set up a wire transfer
We only accept wires in CAD and USD. If you send a wire in another currency, we'll reject it and a fee may apply.
If your bank requires an intermediary bank, use the intermediary details in our Frequently asked questions.
Include all information, such as your Wealthsimple account number. Entering incorrect details or leaving out information can cause your wire transfer to fail.
Follow these steps to set up a domestic or international wire transfer:
- Log in to the Wealthsimple app
- Tap the Move tab
- Under Send and pay, tap Receive wire
- Select an account to wire funds to
- View your wire transfer details
- Scroll to the bottom of your wire transfer details and tap PDF to download your wire instructions
- Log in to your Wealthsimple profile on a laptop or computer
- Select the Move tab
- Under Send and pay, select Receive a wire
- Select an account to wire funds to
- Select Next
- View your wire transfer details
If you select your USD chequing account, this screen also shows your US account number and routing number for ACH, RTP/FedNow, and Fedwire payments. If you're sending USD from a US financial institution, use these instead of the SWIFT details.
Download your wire instructions as a PDF
You can download a PDF of your account-specific wire instructions to give to your bank, employer, or lawyer. The PDF is available for accounts that can receive wires. See Eligible accounts for wire transfers below.
- Log in to the Wealthsimple app
- Tap the account you want to receive the wire
- Tap Settings
- Tap Account details
- Under the wire transfer section, tap Share details
- Log in to your Wealthsimple profile on a laptop or computer
- Select the account you want to receive the wire
- Select Account details. For a chequing account, select the section that shows the last few digits of your account number instead.
- Scroll to the bottom of your wire transfer details and select Share details
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:
- Non-registered (personal and business)
- Chequing (personal and business)
USD wire transfers
We accept first-party USD wire transfers as is into the following account types:
- USD chequing, or
- One of the following (you must have USD accounts enabled):
- TFSA
- RRSP
- FHSA
- Individual RESP
- Spousal RRSP
- Business account
- Non-registered
We accept third-party USD wire transfers only into the following account types:
- USD chequing, or
- Non-registered (personal or business). You must have USD accounts enabled.
If you send a USD wire to an account that only holds CAD, we'll accept it and convert the funds to CAD. A standard FX fee applies to the conversion. If you'd rather avoid the FX fee and hold funds in USD, upgrade to USD accounts before you send future wires.
Personal and Business chequing accounts can only hold CAD. We’ll accept and automatically convert any USD wires sent to these accounts to CAD. We deposit the converted funds in your account in CAD.
Transfer timeline
We process most wires the same day we receive them, but some can take up to 3 business days. 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.
Fees
We don't charge any fees when we receive your wire successfully. If a wire is returned to your bank, we'll deduct a $25 non-refundable fee from the balance.
Your bank and any intermediary banks involved may charge fees, including fees that may be deducted while the wire is in transit.
Before you send a wire, contact your bank to confirm what fees may apply.
If you see an unexpected fee or a fee deduction, contact your bank for support.
If we convert a wire because it arrives in a currency that doesn't match your account, a standard FX fee applies. See our Wealthsimple Trade Account Fee Disclosure for fee details.
Frequently asked questions
I need to provide a numeric account number. What should I provide?
It depends on how you're sending the funds.
If you're sending USD from a US financial institution: Use the US account number and routing number in the For U.S. banks section. These are your ACH, RTP/FedNow, and Fedwire details. See Receive USD funds into your USD chequing account using domestic US rails.
If you're sending a wire through SWIFT: If your bank won't accept letters in an account number, you can use your Canadian dollar chequing account number instead.
I'm sending USD from a US bank. Which details should I use?
Review Receive USD funds into your USD chequing account using domestic US rails and use the details in the For U.S. banks section. They work for ACH, realtime payments, and Fedwire sent within the US. We recommend using them instead of the SWIFT details for transfers from US banks, since they're typically faster and have lower fees.
Can I use my ACH, RTP/FedNow, or Fedwire details to send a wire through SWIFT?
No. Only use the SWIFT details shown in the For outside the U.S. section. If you use your ACH, RTP/FedNow, or Fedwire details for a SWIFT wire, it may be rejected.
Can I still use the TD wire instructions to send wires?
No. We no longer accept wires sent with our old TD instructions, and we'll reject them. Use the wire details above.
Are there countries I can't receive wires from?
My bank requires an intermediary to send the wire. What should I use?
- Bank name: JPMorgan Chase
- Bank address: 270 Park Avenue, 43rd floor, New York, NY 10017
- BIC code: CHASUS33
- Account number: 071724001509
How do I get the information needed to investigate a wire transfer that hasn't arrived?
To help us investigate a missing wire transfer, we need two things from you:
1. Wire confirmation receipt
This must show the recipient's full bank details, including:
- Full recipient name and account number
- Receiving bank name and details
- Date and amount of the transfer
- Any reference numbers provided
2. UETR (Unique End-to-End Transaction Reference) code
This is a 36-character alphanumeric code that serves as a universal identifier for your wire transfer across all banking systems. Contact the financial institution that sent the wire to get it.
Submitting your request
For security purposes, please upload these documents to the documents section of your Wealthsimple account.
After you upload them, contact our support team to start the investigation. A wire investigation can take up to 7 business days. Some cases may take longer due to coordination between multiple financial institutions.
Can I receive a third-party USD wire in my chequing account?
Yes. We accept third-party USD wires into personal and Business chequing accounts. These accounts can only hold CAD, so we convert your USD funds to CAD when the wire arrives. A standard FX fee applies. If you want to keep the funds in USD, ask the sender to wire to your USD savings account or to a non-registered account with USD accounts enabled, and add “Do not convert” to the memo or reference field.
Why was my USD wire converted to CAD, and was I charged a fee?
If you send a USD wire to an account that only holds CAD, we accept it and convert the funds to CAD. You don't need to confirm the conversion with us first, and a standard FX fee applies. See our Wealthsimple Trade Account Fee Disclosure for fee details.
Why should I add "Do not convert" to the memo field for a USD wire?
If you're wiring USD to a Wealthsimple account that holds USD, adding Do not convert to the memo or reference field tells your bank and any intermediary bank not to change the currency of your funds along the way. This helps make sure your full USD amount arrives in your account without an unexpected conversion or FX fee.
Can I send a USD wire from an institution that doesn't support alphanumeric account numbers?
Direct USD wire transfers require an alphanumeric account number, which we only support in our USD chequing and investing accounts. If your sending institution doesn't support entering alphanumeric account numbers, you won't be able to wire USD directly into a USD account.
If you're sending from a US bank, you can use your US account number and routing number instead. Find them in the For U.S. banks section. Don't use these details to send a wire through SWIFT. See Receive USD funds into your USD chequing account using domestic US rails.
However, you can convert the funds to CAD during the transfer if you use your numeric Wealthsimple chequing account number instead. The funds will convert automatically upon receipt. Learn how to find your account number.
What information is included in my wire instructions PDF?
Your PDF includes your account-specific wire details: your account and routing numbers, SWIFT/BIC code, any intermediary bank details that apply, and your beneficiary information. If you're unsure what details to use, the PDF also includes alternative terms that the sending institution might use. You can give it directly to your bank, employer, or lawyer.
Is there a fee to download my wire instructions PDF?
No. You can download your wire instructions PDF anytime at no cost.
Can I download a wire instructions PDF for any account?
You can download the PDF for any account that can receive wires. If your account type can't receive wires, the PDF isn't available. Contact our support team and we'll help you with your wire details.
Comments
0 comments
Article is closed for comments.