In this article:
Overview
To deposit funds, you need to link a Canadian chequing or savings account. We use Flinks, Plaid, or our in-house Wealthsimple Connection Tool (WST) to securely request your online banking information. If you need to link your account manually, you can upload bank documents for verification via our AI-powered system, Persona. Or, you can choose a different funding method.
Bank linking limitations
- You can't link:
- investment accounts,
- line of credit or credit card accounts, or
- accounts you don't own (you can't link a family member's account)
- You can only link a corporate account if you have a Wealthsimple Business account open.
- You must upgrade to USD accounts to link a USD bank account held at a Canadian bank.
- You don't need a USD subscription to link your USD Savings account to another institution.
- You can't link the following types of bank accounts:
- Scotiabank: Momentum Plus Savings, 90 Day Premium Period, and 180 day Premium Period accounts
- EQ Bank: Notice Savings Account (30 Day)
- RBC: Find & Save
- Caisse Desjardins Ontario: Savings Account
- Simplii Financial: USD Savings Account
- USD bank accounts held at a Canadian credit union
How to link your bank account
To deposit funds, you need to link a Canadian chequing or savings account. We use Flinks, Plaid, or WST to request your online banking information securely, or you can link your account manually by uploading documents to Persona. With Persona, you'll receive a real-time decision on your document verification.
Alternatively, you can choose a different funding method.
- Log in to the Wealthsimple app
- Tap the Profile icon in the top-right corner
- Tap the Settings (gear) icon
- Choose Accounts
- Scroll down and tap Linked accounts
- Tap + Link an account
- Find your bank and select it
- Choose Sign in to your bank
- Follow the prompts on-screen to finish linking the account
- Log in to your Wealthsimple profile
- Select the Profile menu in the bottom left corner
- Select Settings from the menu
- Select Accounts
- Select the Linked accounts tab
- Select Link automatically or Link manually.
- If you choose to link manually, you’ll be prompted to enter your bank details, create a Persona inquiry and upload your bank documents.
- Follow the prompts on-screen to finish linking the account
Troubleshooting
Try our troubleshooting tips for bank linking issues.
If you used the manual document verification process and your documents were rejected, you’ll receive a notification with a specific reason. You can then try uploading different documents or contact our support team for further assistance.
Different funding methods
You can use alternative methods to fund your account:
These options are available if you don't want to use Flinks, Plaid, or WST, or if we don't support linking your bank yet.
Frequently asked questions
What is Persona and how does it verify my bank documents?
Persona is our AI-powered document verification system. It automatically reviews the bank documents you upload (like statements or void cheques) to confirm your bank account details.
How long does it take to verify my documents?
The AI verification happens in real time. You'll get an instant decision on whether your documents are approved, declined, or need additional review.
What happens if my documents are flagged for human review?
If the system needs a person to review your documents, you'll see an Under review status and get an email notification once the review is complete. This usually happens within 1–2 business days.
Can I retry uploading documents if they're rejected?
Yes. If your documents are declined, you can:
- Try again with different documents
- Attempt automatic bank linking
- Contact our support team for help
Will I receive confirmation when my bank account is successfully linked?
Yes. You'll get an email confirmation when your documents are approved and your account is linked. You'll also see the linked account appear in your Wealthsimple app right away.
Comments
0 comments
Article is closed for comments.