In this article:
Overview
Wealthsimple is now a direct member of the SWIFT network and can 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 from someone else into eligible Wealthsimple accounts.
Wire transfers typically process within 3 business days with no fees from our side.
Setting up a wire transfer
Domestic and international wire instructions
Wealthsimple accepts wire transfers in CAD and USD. Any wires sent in other currencies will be rejected and may incur a fee.
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 a wire
- Select an account to wire funds to
- View your wire transfer details
If you don't use the Wealthsimple app, use Wealthsimple's beneficiary details below. You must provide all these details to the bank teller processing your wire.
- Beneficiary name: Your full name (exactly as it appears on your Wealthsimple profile).
- Beneficiary address: Your address on file with Wealthsimple.
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Account number: (variable depending on the receiving Wealthsimple account type)
- For a chequing account (individual or business): Use your numerical account number.
- For an investment account (such as a TFSA or non-registered account): Use your alphanumeric account number. This number starts with a W or H.
- Institution number: 703
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Transit / Branch number:
- 00001 for Individual Chequing and other non-chequing accounts
- 00002 for Business Chequing
- SWIFT / BIC code: WSIMCAT2.
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CC Code, IBAN, or CLABE:
- 070300001 for Individual chequing and other non-chequing accounts
- 070300002 for business chequing
- Institution address: 80 Spadina Avenue, Toronto, ON, M5V 2J4, CAN
- Receiving institution: Wealthsimple Investments Inc.
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
- Business 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
- Business 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.
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 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?
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. 1001
- BIC code: CHASUS33
- Account number: 071724001509
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