Transferring accounts with USD cash and dual-listed securities

Overview

If you're transferring an account with US dollar (USD) cash or dual-listed securities, review the information below.

Transfers with USD cash

After your external transfer is complete, we'll automatically deposit USD assets and cash into your designated Wealthsimple account. How we handle USD depends on the type of account you're transferring into:

• Trading accounts: We deposit USD cash as-is and won't convert it to CAD.
• Managed accounts: These can't hold USD. We automatically convert USD cash to CAD and invest it in your portfolio. Currency conversion fees apply.

If you're transferring into a trading account and haven't opted into or subscribed to USD accounts:

• You'll pay currency conversion fees when you use USD funds for trading.
• Your available to trade balance includes your USD funds. To access these funds, you can:
  • Convert the funds to CAD,
  • Transfer the balance to a USD savings account, or
  • Withdraw the funds from Wealthsimple.

When you move your TD Direct Investing accounts to a trading account, both your CAD and USD accounts move together, and your USD funds stay in USD. Each currency is recorded separately, so you'll see your CAD and USD amounts on their own rather than as one combined total.

Once a qualifying transfer completes and is fully reconciled, your receipt replaces the Estimated amount with the computed Actual amount (the settled value of what landed in your account). Your CAD and USD amounts are recorded separately, so the Actual amount keeps each currency as its own value rather than converting them into a single total. For qualifying transfers, USD values are converted to CAD at the settlement-record rate when this Actual amount is computed. The Actual amount then appears everywhere the estimate previously did: on the transfer's row item and in your activity feed.

If your transfer involves both CAD and USD, you can see how amounts appear in your activity feed.

Moving part of your account in cash

If you move part of your account as cash rather than transferring the whole thing, that cash moves in CAD. To bring USD over, transfer the full account or move your holdings as securities. Learn more about how to transfer an account to Wealthsimple.

Transfers with dual-listed securities

Dual-listed securities trade on both a Canadian and a US exchange. We support dual-listed securities. If the security is held as CAD at your originating firm, we'll accept it as CAD. If the security is held as USD at your originating firm, we'll accept it as USD. If you're transferring into a managed account, we may sell your securities and reinvest the proceeds to match your portfolio. Proceeds from USD securities are converted to CAD, and currency conversion fees apply.

To check if we support a specific asset, search for its name or symbol in the Wealthsimple app or on the web.