In this article:
Overview
If you've recently made a deposit into your Wealthsimple account, you can check its status or cancel it directly through the Wealthsimple mobile app or on the website.
Note: You can't view the status of debit card deposits.
View the status of a pending deposit
To view the status of a pending deposit:
- Sign in to the Wealthsimple app on your mobile device
- Tap the Activity tab at the bottom of the screen
- Tap the Filter button at the top-right of the screen and select Type
- Uncheck All, then check Deposits
- Tap Done to view your deposit history
- Select a deposit to view its Status and details
Cancel a pending deposit
You have up to 1 hour to cancel a pending deposit for the following account types:
- Individual chequing
- Individual non-registered
- Crypto
- Tax-Free Savings Account (TFSA)
- Registerede Retirement Savings Plan (RRSP)
- First Home Savings Account (FHSA)
You have up to 15 minutes to cancel a pending deposit for all other account types.
- Sign in to the Wealthsimple app on your mobile device
- Tap the Activity tab at the bottom of the screen
- Tap the Filter button at the top-right of the screen and choose Type
- Select Deposits
- Tap Done to view your deposits
- Select a deposit to view the details
- Tap Cancel at the bottom of the screen
- Log in to your Wealthsimple account
- Select the Activity from the top menu
- Under Filters on the right, click Type
- Select Deposits
- Choose a deposit to view the details
- Tap Cancel this deposit and then Yes to confirm
Note: There's no fee or penalty for cancelling an existing Wealthsimple deposit.
Frequently asked questions
I don't see an option to cancel my deposit, what do I do?
If you don't see the option to cancel a deposit, it means your deposit is being processed and isn't cancellable. You have a couple of options:
- You can withdraw the funds five days after they arrive in your Wealthsimple account and send them back to your external bank account. This can take anywhere from 2-7 days to complete, depending on your account type.
- You can contact your bank to request a stop payment if you haven't traded your funds and you don't yet see your deposit request on the transaction history in your external bank account. If you request a stop payment after trading with the funds, a payment may be due if you have any losses. If this is the case, some of your existing assets may be sold off to cover the balance due, or you may need to initiate a new deposit to cover it.
If you need to cancel a deposit into an RRSP or TFSA and your institution can't reverse it, please contact us directly so that we can look into it further for you.
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