In this article:
Overview
You can move a cash balance between your Wealthsimple accounts quickly and easily. Before you transfer funds, please review the information below.
Before you transfer funds
- In any chequing account, you can immediately internally transfer funds from a recent instant deposit up to your instant deposit limit.
- In other accounts, you can only transfer settled cash balances:
- New deposits take 5 business days to settle.
- Sold stocks or ETFs take 1 business day to settle.
- If transferring from a margin account, the system automatically validates margin requirements to determine your available transfer amount.
- You can’t move funds that would trigger a margin call or create negative equity.
- If you have a debit cash balance (active use of margin credit), you may need to deposit funds or sell securities to eliminate the balance before a full transfer.
- Review account-specific transfer restrictions.
- Check if your transfer will affect your income taxes or contribution room.
How to transfer funds between accounts
You can transfer settled cash between eligible self-directed and managed investing accounts. Follow these steps to transfer funds:
- Log in to the Wealthsimple app
- Select the account to transfer funds from
- Tap Transfer money
- Select an account to transfer funds to
- Tap Next
- Enter an amount to transfer
- Tap Next
- Confirm your transfer details and tap Submit
- Log in to your Wealthsimple profile
- From the Home page, select the Move money menu in the top right corner
- Select Transfer money from the menu
- Choose a source account (From)
- Choose a destination account (To)
- Enter an Amount to transfer
- Select Next
- Confirm your transfer details and select Submit
Account-specific transfer restrictions
If you can’t move funds between two accounts, it may be because of an account-specific transfer restriction. Learn more about transfer restrictions for the accounts below:
Transfer timelines
Transfer timelines vary depending on the type of account you're transferring from and the account you're transferring to. Review the table below for more details:
| From | To | Timeline |
|---|---|---|
| Trade & Crypto | Managed investing, Crypto, Chequing account, Save |
Instant |
| Managed investing | Trade, Managed investing, Crypto, Chequing account |
4 to 6 business days |
| Personal and Business chequing account | Trade, Managed investing, Crypto, Save |
Instant |
| Registered Savings account | Trade, Managed investing, Crypto, Save |
1-3 business days |
Frequently asked questions
Can I transfer USD funds?
You can only transfer USD funds yourself between
- two USD savings accounts
- a USD saving account and a USD non-registered account (including joint non-registered and margin accounts)
- a USD savings account or USD non-registered account and a USD Corporate account
- a USD savings account or USD non-registered account to a USD registered account (including TFSA, RRSP, FHSA and RESP).
Please contact our support team for transfers between other account types.
Why does my available transfer amount differ from my total account value?
Margin accounts require maintaining certain collateral levels to secure borrowed funds. The difference represents funds that must remain in your account to meet margin requirements and maintain your buying power.
What if I have pending orders in my margin account?
You'll need to cancel any pending limit orders before initiating a transfer. Pending orders can instantly affect your buying power and margin calculations.
Will transferring funds from my margin account affect my margin loan?
Yes, transferring funds reduces the collateral in your account. The system prevents transfers that would cause your account to fall below required margin levels
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