Overview

Understand common reasons for rejected deposits and what happens if you incur a negative cash balance. Select a rejection reason to learn more:

• Non-sufficient funds (NSF)
• Invalid account type
• Invalid account information
• Another reason

Non-sufficient funds (NSF)

In order to ensure your deposit doesn't get rejected, make sure you have enough money in your bank account to cover the total of your deposit before you submit it. If you don't have enough funds in your bank account, or if funds are added to your account after submitting the deposit request, you'll incur an NSF rejection.

We don't charge you anything for NSF rejections, however, your bank may charge you when they occur. Unfortunately, we can't reimburse NSF fees charged by your bank if the deposit was made in error.

Invalid account type

You can only link a Canadian chequing or savings account to your Wealthsimple profile. Any other account type will result in a rejected deposit.

Invalid account information

If you accidentally enter the wrong account number, transit number, or any other piece of account information, this can result in a rejected deposit.

Another reason

Your deposit may be rejected for reasons other than the few mentioned above. If this happens, please reach out to your bank directly to see if they can give you more information about the rejection. Other reasons can include:

• You exceeded the daily debit limit for your bank account
• The account was frozen by your bank
• You tried to deposit from something other than a chequing or savings account
• You tried to deposit from a closed account
• You tried to deposit from an account holding foreign currency
• Your banking institution is in default
• The name on your bank account doesn't match the name on your Wealthsimple account