Overview

An international transfer is a method of transferring money to someone in another country. We partnered with Wise to bring secure and quick international transfers to Wealthsimple Cash accounts. You can send up to $999.99 CAD each day.

When you send an international transfer from your Cash account, you’ll see

• the amount you’re sending,
• fees,
• your exchange rate,
• how much your recipient gets, and
• when the transfer should arrive.

Most transfers take as little as a few hours to deliver to your recipient.

Fees

We calculate your transfer fee based on the amount you send and the exchange rate for the transfer. We show all fees up front to you before you send a transfer.

Supported currencies, countries, and delivery timelines

Most transfers take as little as a few hours to deliver to your recipient, but some transfers may take a few days to deliver. 

Review our supported currencies, eligible countries, and delivery estimates below:

Send an international transfer

Depending on where you’re sending funds to, you may need different pieces of bank account information from your recipient. Always confirm the information with your recipient before sending a transfer to prevent any mistakes or delays. You can send a maximum of $999.99 CAD per day.

You can only send an international transfer on the web. They aren't available on the Wealthsimple mobile app yet.

Follow these steps to send an international transfer:

1. Log into your Wealthsimple profile
2. Select your Cash account from the Home page
3. Click Send money on the right-side of the page
4. Choose Send internationally from the options
5. Select your desired Cash account to send money from
6. Enter an amount to send
7. Select the recipient’s Currency
8. Click Next
9. Select a contact or click Add contact to add a new contact
10. Select a reason for your transfer from the options
11. Click Next
12. Review your transfer details, then click Send

Troubleshoot a delayed transfer

Transfers can take a few hours to a few days to arrive in the recipient’s account. Please review our delivery estimates for more information. Once you send an international transfer, you must reach out to the recipient to confirm if they received it. We can’t confirm if the money has reached your recipient’s bank.

There are a few reasons why your transfer might take longer than expected to deliver. Review the reasons below:

There’s a mistake in the recipient’s details

There might be a mistake in the recipient’s details. When this happens, some banks can still process the transfer, but it takes a little longer for them to match it to the right account. Other times, they’ll send the money back and you'll have to send it again.

Next step: Wait the maximum delivery time in case the recipient’s bank can process the transfer. If they can’t, you’ll receive an email notifying you that the transfer was unsuccessful, and that the money has been returned to your Cash account. Please confirm the recipient’s details with them, then submit a new transfer. 

It's a weekend or holiday

If you're sending money over the weekend or before a holiday, it may only get processed the next working day. This is because we work with banks, who won't typically process money transfers on a non-working day. Keep in mind that holidays in the recipient’s country may also affect the time to deliver.

Next step: Ask your recipient to let you know if they receive the funds after the holiday. Please check the maximum delivery time for the currency you sent. 

The recipient’s bank might be processing the transfer

It can take a few business days for a transfer to reach the recipient’s bank, and for them to process it. The extra time it takes also depends on the currency you’re sending to.

Next step: Ask your recipient to check their email for an email from Wise. This email includes a link to track the transfer which provides the most up-to-date information.

The sender name might be different at the recipient's bank

The recipient might not see a transaction from your name on their bank statement.

Next step: Ask them to look for a transaction from Wealthsimple instead. The transfer might also come from one of our partners, Wise or TransferWise. The amount received should still help them find the transaction.

The currency of the recipient's bank might not be compatible with your transfer

Your recipient’s account may be in a different currency than the one you’ve sent them. If that’s the case, they could get a different amount from us because their bank might have to convert the money.

Next step: Wait the maximum delivery time in case the recipient’s bank can process the transfer. If they can’t, you’ll receive an email notifying you that the transfer was unsuccessful, and that the money has been returned to your Cash account. Please confirm the currency of the recipient’s bank with them, then submit a new transfer. 

Returns

In some cases, the recipient’s bank might reject the transfer and return the funds. This could happen if there’s a mistake in the recipient’s details.

When the recipient’s bank returns the funds to us, we will immediately add the funds back to your Cash account and you will see a status of Reversed in your Activities. We can't speed up the return process as it is dependent on the recipient’s bank.

Frequently asked questions