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 self-directed 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.
Make a withdrawal
There are different steps to withdraw funds from different account types. Select an account type below for specific instructions:
- Non-registered (including crypto, chequing, and corporate accounts)
- Tax-Free Savings Account (TFSA)
- First Home Savings Account (FHSA)
- Registered Retirement Savings Plan (RRSP) or spousal RRSP (including Home Buyers' Plan or Lifelong Learning Plan withdrawals)
- Registered Education Savings Plan (RESP)
- Registered Retirement Income Fund
- Life Income Fund (LIF)
Withdrawal timelines
| Account type | Withdrawal timeline |
|---|---|
| Managed by Wealthsimple | 4 to 6 business days |
| Portfolio | 4 to 6 business days |
| Self-directed investing* | 1 to 3 business days |
| Crypto investing* | 1 to 3 business days |
| Chequing account | 1 to 3 business days |
| USD savings account | 1 to 3 business days |
| Registered savings account | 1 to 3 business days |
Managed account withdrawal process
Withdrawing funds from a managed account can take up to 4-6 business days to complete. Review the timeline below:
Days 1 to 3
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.
Days 4
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.
Days 5 to 6
We send the funds to your bank, and they deposit them into your bank account.
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