Set up a recurring transfer between Wealthsimple accounts

In this article:

Overview

Recurring transfers allow you to choose when and how often you want to invest your funds from one Wealthsimple account into another Wealthsimple account. Your funds will transfer instantly to the destination account on the recurring schedule you choose.

You can also cancel your recurring transfer any time before the date of your next scheduled transfer.

Accounts eligible for recurring transfers

You can set up recurring transfers from select Wealthsimple account types. Select an option to learn more:

Tip: Some accounts have maximum contribution limits and tax considerations. Before you transfer funds, you can learn more about these considerations.

Recurring transfers from an individual or joint Cash account

You can set up a recurring transfer from your individual or joint Cash account to any of these account types:

  • TFSA
  • RRSP
  • FHSA
  • Crypto
  • RESP
  • Individual or joint non-registered account
  • Another individual or joint Cash account

Recurring transfers from a self-directed investing account

You can set up a recurring transfer from a self-directed investing account to an individual or joint Cash account.

How to set up a recurring transfer between Wealthsimple accounts

You can only set up recurring transfers from your Cash account on the web. They aren’t available on the Wealthsimple mobile app yet.

To set up a recurring transfer between Wealthsimple accounts:

Wealthsimple app  Web
  1. Sign in to the Wealthsimple app on your mobile device
  2. Tap a Cash or self-directed account from the Home tab
  3. Tap Move money
  4. Choose a destination account
  5. Tap Next
  6. Enter an amount to transfer
  7. Tap Today to choose a date to send the transfer
  8. Tap Doesn’t repeat and choose the frequency the transfer will recur (Weekly, Bi-weekly, or Monthly)
  9. Tap Next
  10. Review your transfer details
  11. Tap Submit
Note: If you don’t see the Date or Frequency selector, you may not have an eligible account selected for recurring transfers. Please review the eligible accounts you can transfer into.
  1. Log in to your Wealthsimple account
  2. Select Add money from the Home page
  3. Choose a Cash account as the funding source (From)
  4. Choose a destination account (To)
  5. Enter an amount to transfer
  6. Open the Date selector to choose a date to initiate the transfer on
  7. Open the Frequency selector and choose when the transfer will recur (Weekly, Bi-weekly, or Monthly)
  8. Select Next
  9. Review your recurring transfer and select Submit
Note: If you don’t see the Date or Frequency selector, you may not have an eligible account selected for recurring transfers. Please review the eligible accounts you can transfer into.

Cancel a recurring transfer

You can cancel a recurring transfer before the date of your next scheduled transfer.

Note: If you cancel the recurring transfer schedule on the date of your next scheduled transfer, your transfer will still be processed. Please ensure to cancel before the scheduled date.

To cancel a recurring transfer:

Wealthsimple app  Web
  1. Sign in to the Wealthsimple app on your mobile device
  2. Tap the Activity tab
  3. Tap Scheduled activities at the top of the screen
  4. Tap the recurring transfer you want to cancel
  5. Tap Cancel
  6. Tap Confirm
  1. Log in to your Wealthsimple account
  2. Select the Activity tab at the top of the page
  3. Select the Scheduled activities button at the top of the page
  4. Choose your desired recurring transfer to cancel
  5. Select Cancel, then Confirm

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