Learn about withdrawing funds from your account

In this article:

Overview

You can withdraw money from the available balance in your Wealthsimple account at any time. Your available balance includes:

  • Unused cash from your deposits, dividends you've earned, and any settled proceeds from sold assets in trading accounts.
  • 99.5% of the funds in your managed account. The remaining 0.5% is held for any funds needed for upcoming fees.

Why is my available balance less than my total account balance?

Your available balance may be lower due to:

  • Recent deposits (less than 5 days) that need to clear before they become available.
  • Unsettled proceeds from recently sold assets. Proceeds from a sale must settle for 1 business day before they become available.
  • Funds that are reserved for transfers or fees.
  • Money held in direct indexing, if your Trade account includes it. You'll need to sell from your index before you can withdraw that money.

Withdraw money from direct indexing in a Trade account

If your Trade account includes direct indexing, you withdraw from the self-directed part of your Trade account. To withdraw money that's held in direct indexing, you'll need to sell from your index first:

  • We place orders for your index once a day, so your sell goes through in the next daily trade.
  • After the sale, the cash moves to the self-directed part of your Trade account. It settles for 1 business day before you can withdraw it.
  • A sale can't leave less than $1,000 in an index. To stay above this amount, sell less, or sell the whole index.
  • If you bought index holdings with a deposit that hasn't cleared yet, you can't withdraw them until the deposit clears.
  • You can't withdraw cash directly from direct indexing.

Make a withdrawal

There are different steps to withdraw funds from different account types. Select an account type below for specific instructions:

Note: You can't typically withdraw from a LIRA. You can make an early withdrawal under specific circumstances that the jurisdiction of your LIRA determines. Please contact our support team if you're eligible to make an early withdrawal.

Withdrawal timelines

Account type Withdrawal timeline
Managed by Wealthsimple 2–3 business days
Portfolio 2–3 business days
Trade* 1–3 business days
Direct indexing in a Trade account After you sell, the cash is usually in the self-directed part of your Trade account by the next business day, and within 2 business days at most. Withdrawing it to your bank then follows the Trade timeline.
Crypto* 1–3 business days
Chequing account 1–3 business days
USD savings account 1–3 business days
Registered savings account 1–3 business days
Wealthsimple Predict 1–3 business days
Note: Withdrawals may take up to 5 business days in some cases.
Note: To withdraw USD from your Predict account, you'll need a linked USD bank account. If you only have a linked CAD bank account, convert your USD balance to CAD from the Wallet screen in the Predict app first, then withdraw your CAD balance to your linked bank account. Currency isn't converted automatically at withdrawal. You can also transfer funds to another Wealthsimple account that supports USD.

Managed account withdrawal process

Withdrawing funds from a managed account can take up to 2–3 business days to complete. Review the timeline below:

Day 1
We sell investments in your account to generate cash for your withdrawal. The value of your account may change as the value of your investments could increase or decrease before they're sold.

Day 2
We hold your funds for a 1 day settlement period. This is a requirement from the Canadian government and is a mandatory step for all financial institutions.

Day 3
We send the funds to your bank, and they deposit them into your bank account.

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