In this article:
Note: This article covers cash balance transfers between Wealthsimple accounts. For information about in-kind share transfers between Wealthsimple accounts, please review 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 transfer funds from a recent 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.
- Review account-specific transfer restrictions.
- Check if your transfer will affect your income taxes or contribution room.
- Transfers from managed accounts take 5-7 business days because we have to sell your holdings before we can transfer the cash proceeds.
USD transfers
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). This is available on the Wealthsimple website only.
Please contact our Client Support team for transfers between other account types.
How to transfer funds between accounts
Follow these steps to transfer funds:
- Sign in to the Wealthsimple app on your mobile device
- Select the account to transfer funds from
- Tap Move money
- Select an account to transfer funds to
- Tap Next
- Enter an amount to transfer
- Tap Next
- Confirm your transfer details and tap Submit
- Tap Done
Tip: You can also select the Move tab to transfer funds.
- Log in to your Wealthsimple account
- Select Move money on the Home page
- 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:
- Registered Retirement Savings Plan (RRSP)
- Spousal RRSP
- Group Retirement Savings Plan (GRSP)
- Registered Retirement Income Fund (RRIF)
- Spousal RRIF
- Life Index Fund (LIF)
- Locked-In Retirement Account (LIRA)
- First Home Savings Account (FHSA)
- Registered Education Savings Plan (RESP)
- Corporate accounts
- Margin accounts
Transfer timelines
| From | To | Timeline |
| Self-directed investing & Crypto |
Managed investing, |
Instant |
| Managed investing | Self-directed investing, Managed investing, Crypto, Chequing account |
4 to 6 business days |
| Chequing account | Self-directed investing, Managed investing, Crypto, Save |
Instant |
| High-interest savings account | Self-directed investing, Managed investing, Crypto, Save |
1-3 business days |
| Save | Self-directed investing, Managed investing, Crypto, Chequing account |
Instant |
Note: Save accounts are no longer available to open. You can continue to use your existing Save accounts.
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