Overview
Wealthsimple offers a secure way to receive funds through wire transfers in both Canadian Dollar (CAD) and US Dollar (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)
Domestic wire instructions
Follow these steps in the mobile app to set up a domestic wire transfer:
- Sign in to your Wealthsimple app on your mobile device
- Tap the Move tab
- Tap Wire funds
- 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:
- Routing code/Bank ID: 070300001
- Beneficiary bank: Wealthsimple Investments Inc.
- Bank Address: 201 - 80 Spadina Ave, Toronto, Ontario, Canada M5V 2J4
- Beneficiary account name: Your full name.
- Beneficiary address: The address you have on file with Wealthsimple.
-
Beneficiary account number: Your Wealthsimple account number (starts with a W or H)
- Note: Review our FAQ if you need to provide a numeric bank account number.
- Institution number: 703
- Transit/branch number: 00001
- Amount: The amount you want to wire.
- Memo: Your reason for sending the wire.
International wire instructions
Wealthsimple partners with the Royal Bank of Canada (RBC) to receive international wires. Please use the information provided below to initiate your wire transfer.
- SWIFT / BIC code: ROYCCAT2
- Receiving bank name: ROYAL BANK OF CANADA
- Receiving bank address: 200 Bay Street, Toronto, Ontario M5J 2J5
- Account number / Canadian clearing code: 070300001
For credit to:
- Account number, IBAN or CLABE: 070300001
- Name: Wealthsimple Investments Inc.
- Address: 201 - 80 Spadina Ave, Toronto, Ontario, Canada M5V 2J4
- Institution number: 703
- Transit number: 00001
For further credit to:
-
Account number: Your Wealthsimple account number (starts with a W or H)
- Note: Review our FAQ if you need to provide a numeric bank account number.
- Name: Your full name (exactly as it appears on your Wealthsimple profile)
- Address: Your address on file with Wealthsimple
- Memo/reference: Your reason for sending the wire
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:
- Registered Retirement Savings Plan (RRSP)
- Registered Education Savings Plan (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):
- Tax-Free Savings Account (TFSA)
- Registered Retirement Savings Plan (RRSP)
- First Home Savings Account (FHSA)
- Individual Registered Education Savings Plan (RESP)
- Spousal Registered Retirement Savings Plan (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
- Corporate account
- 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, the would could be delayed or returned. If a wire is returned to your bank, a $25 non-refundable fee is deducted from the balance.
Do I need a SWIFT code for USD wire transfers?
For domestic USD wire transfers, a SWIFT code isn't necessary. You should only need our routing code/bank ID, which is 070300001.
When sending an international wire:
- Please use ROYCCAT2 for the SWIFT code.
- Please ensure 070300001 is entered in the "Account number / Canadian Clearing Code" field that appears immediately after the SWIFT code.
- You must repeat this same number (070300001) in the "Account Number" field under the "For credit to" section.
- Don't include this number in the "For further credit to" section, which is where your personal Wealthsimple account details should go.
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 will 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?
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