Overview
Wealthsimple supports the following types of account transfers:
| Account type |
Available to transfer into a self-directed investing account |
Available to transfer into a managed account |
Average transfer timeline |
| Yes | Yes | 2-4 weeks | |
| Yes1 | Yes | 2-4 weeks | |
| TFSA | Yes | Yes | 2-4 weeks |
| RRSP | Yes | Yes | 2-4 weeks |
| Yes2 | Yes2 | 2-4 weeks | |
| Yes | Yes | 2-4 weeks | |
| Yes | Yes | 2-4 weeks | |
|
Spousal RRIF |
Currently unavailable5 | Currently unavailable5 | - |
| Yes | Yes | 2-4 weeks | |
|
Pension |
Yes | Yes | 2-6 weeks |
| Yes | Yes | 2-4 weeks | |
| RESP | No | Yes | 6-8 weeks |
| Corporate | Yes3 | Yes | 2-4 weeks |
| Margin | Yes4 | Yes6 | 2-4 weeks |
1 Joint non-registered self-directed investing transfers can only be initiated on the Wealthsimple mobile app.
2 Spousal RRSP account transfers can only be initiated on the Wealthsimple website, not the app.
3 You can only transfer single director corporate accounts to a self-directed corporate Wealthsimple account. You can also only initiate an account transfer on the Wealthsimple website.
4 You can initiate transfers from external non-registered accounts into a Wealthsimple margin account. You can’t initiate transfers from a registered account to a margin account.
5 You can transfer your margin account into a non-registered managed account if you don’t have a debit balance. Remember that if you transfer your account in-kind, we may liquidate your assets before reinvesting them in a managed portfolio.
Check the status of your transfer
To check on the status of your transfer, follow these steps in your account.
Frequently asked questions
Why is my transfer taking longer than expected?
While Wealthsimple is equipped to accept most transfers electronically, some Canadian financial institutions continue to use more traditional methods to transfer accounts. Some institutions require forms to be processed at their physical location or require printed checks for depositing funds which can extend your transfer's processing time.
To check on the status of your transfer, follow these steps.
When can I move or trade my funds after the transfer is complete?
The timeline of when you can move and trade your funds depends on the transfer method:
- You can move and trade funds from an electronic transfer the day they arrive in your Wealthsimple account.
- You can move and trade funds from a cheque transfer after the 5 business days clearing period.
What happens if I transfer a margin account with a debit balance?
We accept margin accounts with debit balances; however, we review all margin transfers into Wealthsimple to ensure your account supports the margin balance.
Generally, we evaluate the account’s debit balance in relation to the asset values to determine whether the account will meet our margin requirements once the transfer is complete. This includes assessing the portfolio against existing concentration limits. Depending on the underlying portfolio, we may make concentration exceptions to accommodate clients.
If there’s an issue with your transfer, we’ll contact you with the next steps.
Can I transfer options to Wealthsimple?
You can’t transfer options to Wealthsimple at this time.
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