Transfer funds between your Wealthsimple accounts

In this article, you will learn about:

Moving cash balances between your Wealthsimple accounts
Considerations before transferring funds between accounts, such as account restrictions and settlement periods
The timeline for transferring funds between different types of accounts
Steps to move money between accounts using the Wealthsimple app
Restrictions and guidelines for transferring funds in and out of different types of accounts, including personal non-registered accounts, TFSAs, retirement accounts (RRSPs, GRSPs, Spousal RRSPs, LIRAs, RRIFs, Spousal RRIFs), and RESPs.
When you'll need to contact the support team for assistance with specific account transfers

You can move a cash balance of any amount from one of your Wealthsimple accounts to another.

Before you begin

It's not always possible to move money in or out of certain types of accounts, like RRSPs. See: What accounts can I move money in and out of?
If your funds are already invested in a stock, ETF, or cryptocurrency, you'll need to sell your holdings before you can transfer the cash to a different account.
After selling a stock or ETF, it can take 2 business days for the cash to settle in your account before you can transfer the funds. There is no settlement period when you sell a cryptocurrency.
Remember to check if your transfer will affect your income taxes or contribution room for registered accounts.
New deposits take 5 business days to clear before you can transfer the funds to a different account.
It’s currently not possible to move USD between USD accounts.

Note: The app doesn't currently support in-kind internal transfers, which is the transfer of stocks between your Wealthsimple accounts. If you're looking to make this type of transfer, please contact our support team so we can assist with your case.

How long does it take to move money between my accounts?

From	To	Timeline
Stocks, ETFs & Crypto	Stocks, ETFs & Crypto	Instant
Stocks, ETFs & Crypto	Managed Investment	Instant
Stocks, ETFs & Crypto	Save	Instant
Stocks, ETFs & Crypto	Cash	Instant
Managed Investment	Managed Investment	5-7 business days
Managed Investment	Stocks, ETFs & Crypto	5-7 business days
Managed Investment	Cash	5-7 business days
Save	Stocks, ETFs & Crypto	Instant
Save	Managed Investment	Instant
Save	Cash	Instant
Cash	Stocks, ETFs & Crypto	Instant
Cash	Managed Investment	Instant
Cash	Save	Instant

Move money between your accounts

If you’d like to move money between your Stocks, ETFs & Crypto and Managed Investment & Save or Cash accounts, you’ll need to use the Wealthsimple app.

Sign in to the Wealthsimple app on your mobile device
Tap the Move tab at the bottom of the screen
Select Transfer
Select a Wealthsimple account from which you’d like to transfer funds
Tap Next
Select an account where you want to move the funds to
Tap Next
Enter an amount to transfer and tap Continue
Tap Confirm to begin the transfer

Tip: If you're unable to move funds between two accounts, there may be a restriction that applies to one (or both) of the accounts. Learn more about the different kinds of restrictions below, or get in touch with our team.

What accounts can I move money in and out of?

Personal, non-registered accounts

You can transfer funds quickly and easily between your personal, non-registered accounts. These accounts do not have any withdrawal rules or contribution limits.

Example accounts in Wealthsimple Managed Investment are:

Personal
Save
Joint Save

Tax-Free Savings Accounts (TFSAs)

You can also move money into or out of your Managed Investment TFSAs without restrictions. However, TFSAs have contribution limits, so you need to know your remaining contribution room before you transfer funds in.

Going beyond your contribution limit may incur a penalty from the CRA. If you're moving money between two of your TFSA accounts, this won't affect your contribution room for the year.

Note: The amount you withdraw from a TFSA won't get added back to your contribution limit until the following calendar year.

Retirement accounts

Retirement accounts have restrictions on both contributions and withdrawals. Example retirement accounts include:

RRSPs, Group RRSPs and Spousal RRSPs
Pension accounts
LIRA
LIF
RRIF and Spousal RRIF

Tip: Transferring funds from one RRSP to another RRSP does not count as a contribution or withdrawal.

See the following table for specific restrictions related to moving funds to/from your existing Wealthsimple accounts to/from specific retirement accounts:

Account type	Moving funds into your account	Moving funds out of your account
RRSP	You can move money into your Wealthsimple RRSP from another Wealthsimple account directly in your profile.	You cannot move funds from your RRSP to another account on Wealthsimple as there are tax considerations involved with withdrawing funds from an RRSP.
GRSP	You are not able to move funds into a GRSP from another Wealthsimple account. Only your employer is able to contribute to your GRSP.	You cannot move funds from your GRSP to another Wealthsimple account as there are tax considerations involved with withdrawing funds from a GRSP.
Spousal RRSP	You cannot move funds from another account into your spousal RRSP through your profile. However, our support team can help you do so if you are the annuitant for your Spousal RRSP.	You cannot move funds from your Spousal RRSP to another account on Wealthsimple as there are tax considerations involved with withdrawing funds from a Spousal RRSP.
LIRA	You are not allowed to make contributions to a LIRA, so you are unable to move funds from another Wealthsimple account into one of these accounts.	You cannot move funds out of your LIRA as they are locked in.
RRIF/LIF	You are not able to contribute funds to an RRIF or LIF, so you will not be able to move funds from another Wealthsimple account into these accounts.	You cannot move funds from your RRIF or LIF to another account on your Wealthsimple profile by yourself. However, if you contact our support team, we can help you do so.
Spousal RRIF	You are not able to contribute funds to a Spousal RRIF, so you will not be able to move funds from another Wealthsimple account into these accounts.	You cannot move funds from your Spousal RRIF to another account on your Wealthsimple profile by yourself. However, if you contact our support team, we can help you do so.

Registered Education Savings Plan (RESP)

RESPs have a $50,000 lifetime maximum contribution limit per beneficiary.

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 get in touch with our team if you need to transfer funds between two Corporate accounts that are owned by the same entity and also have the same name.