Close an Investment account
If your account is funded, you must sign in to your account on a web browser and:
- Withdraw funds to your linked bank account
- Cancel any scheduled transfers or auto-deposits
- Turn off Roundups or Overflow
Once your account balance is $0, you can close your account on both desktop and mobile.
On desktop, log in and click on the account and then tap “close this account” located beneath the yellow button.
In the Invest mobile app, go to the account, click the “...” icon in the top left and then tap “Close account”
Deactivate your Wealthsimple profile
Keeping your account open will make it easier for you to access your annual tax slips and your monthly account statements. There is no charge for keeping an account open with us. If you decide to keep your account but don’t want updates from us, you can unsubscribe for our mailing lists by updating your communication preferences in your account settings.
If you would still like to deactivate your profile, you can do so when logged in to your account on desktop and heading to your account settings. At the bottom of the "Profile" tab, the "Deactivate Profile" option will appear. You will not be able to deactivate your profile unless you've withdrawn all funds and cancelled any pending deposits.
Please note: we are required to keep records of your personal information for 7 years. This is a requirement from the Government of Canada and in compliance with the Income Tax Act. If you would like more information on this, you can find more information here.
If you are transferring the investment account to another institution, please check out this article for further information. The transfer will need to be initiated by the receiving institution.
If your account is funded, simply withdraw the funds to your linked bank account by signing in from a web browser and clicking on your name in the top-right corner of your account > Withdrawals. Once the account balance is at $0, you can click on the account and you should see the option to "archive it".