Overview

We’ll automatically reimburse the administrative transfer-out fees charged by your institution for transferring an account to us if the transfer is at least $15,000.

Account transfers from other accounts at the same institution are also eligible if they meet the requirements above. Each account will only be reimbursed once. Any future partial transfers from the same account at the same institution aren’t eligible for a transfer fee reimbursement even if the transfers meet the minimum transfer threshold.

You can transfer your entire account or part of your account to us. Learn how to transfer an account to Wealthsimple.

Please allow up to 2 business days after your transfer is complete for the reimbursement to appear in the cash balance of your account. Learn how to check the status of your pending transfer.

More details about transfer fee reimbursements

The reimbursement shows up in the cash balance of your account and appears as a Reimbursement in your account activity. The reimbursement doesn't count as a contribution within registered accounts like a TFSA or RRSP.

Accounts must remain funded for 90 days after transferring in.

Eligible fee reimbursements

Wealthsimple only reimburses the administrative transfer-out fee on an institutional transfer. We don't reimburse any other fees, including, but not limited to:

• Deferred Sales Charges (DSC fees),
• Low Load Fees (LL fees),
• Trading fees,
• Commission fees, or
• Account closure fees.

Partial transfers

Partial transfers from the same account will only be reimbursed once. Any future transfers from the same account at the same institution aren’t eligible for a transfer fee reimbursement.

If the reimbursed amount is incorrect

Please contact our support team with supporting documentation of the transfer fee. We reimburse the transfer fee based on our record of what different financial institutions and brokerages charge, but they may update their policies which may not be reflected in your reimbursement.

If your transfer-out fees were charged in USD

Please reach out to our support team with the exact amount that you were charged in USD. Eligible reimbursements are processed in 5-7 business days.