Account-specific transfer restrictions

The following account types have restrictions for transferring funds. Select the account you'd like to transfer to or from to learn more:

Registered Retirement Savings Plan (RRSP)

You can transfer funds:

  • into RRSPs from other accounts,
  • between RRSPs, and
  • from an RRSP to a different account type*.
*Note: Please contact our Client Support team for assistance with transfers from an RRSP to a different account type. 

Spousal RRSP

You can transfer funds:

  • from your individual or joint Cash account(s) into a spousal RRSP. Only the contributor can transfer funds.
  • between Wealthsimple spousal RRSPs with the same annuitant and contributor. Please contact our Client Support team for assistance.

You can't transfer funds from a spousal RRSP to another account type because of tax implications.

Group Retirement Savings Plan (GRSP)

You can transfer funds from your GSRP to an RRSP. Please contact our Client Support team for assistance.

You can't transfer funds

  • into a GSRP (only the employer can contribute),
  • from your GSRP to non-RRSP account types because of tax implications, or
  • between two GSRP accounts.

Registered Retirement Income Fund (RRIF)

You can

  • withdraw funds to an external bank account, and
  • transfer funds between Wealthsimle RRIF accounts.
Note: You must withdraw the minimum amount to your external bank account before you can move funds between RRIF accounts.

You can't transfer funds

  • into a RRIF, or
  • from an RRIF to another Wealthsimple account.

Spousal RRIF

You can transfer funds

  • from your spousal RRIF to another Wealthsimple account, or
  • between Wealthsimple spousal RRIF accounts with the same annuitant and contributor.
Note: Please contact our Client Support team for assistance with these transfers.

You can't transfer funds into a spousal RRIF.

Life Income Fund (LIF)

You can

  • withdraw funds to an external bank account, and
  • transfer funds between Wealthsimle LIF accounts with the same jurisdiction. Please contact our Client Support team for assistance.

You can't transfer funds

  • into a LIF, or
  • from a LIF to another Wealthsimple account.

Locked-In Retirement Account (LIRA)

You can transfer funds between Wealthsimple LIRA accounts directly from the app if the jurisdictions match.

Note: If you plan to transfer funds from a managed LIRA under AB/BC jurisdictions to a self-directed LIRA, you must transfer all of the funds. Partial transfers aren't available under these jurisdictions. Please contact our Client Support team if you need to transfer funds from a LIRA under AB/BC jurisdictions.

You can't transfer funds

  • into a LIRA, or
  • from a LIRA into another account.
Note: Please contact our Client Support team if you believe you're dealing with an exceptional case that may qualify for funds unlocking.

First Home Savings Account (FHSA)

You can transfer funds between an FHSA and select Wealthsimple investment accounts. Learn more about these transfers.

Registered Education Savings Plan (RESP)

You can only contribute to an RESP from an individual or joint Cash account. Please keep in mind that RESPs have a $50,000 lifetime maximum contribution limit per beneficiary.

Tip: You can set up a recurring transfer from Cash accounts to automate your investing.

When you'd like to withdraw from an RESP, you'll need to get in touch with our Relationship Management team. We'll ask you to confirm the beneficiary is enrolled as a full-time or part-time student in a post-secondary program or institution.

Corporate accounts

Please contact our Client Support team if you want to transfer funds between Corporate accounts. They must owned by the same entity and have the same name.

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Moving money between Wealthsimple accounts

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