This article is here to help you understand more about how money moves in, out, and between your Wealthsimple accounts — and how long it takes. We do our best to keep all our articles up-to-date, but the information below is subject to change.
How long does it take to move money between my Wealthsimple accounts?
- If you’re moving money from Wealthsimple Cash to a Wealthsimple Invest account, it will take up to 3 days to complete your request.
- If you’re moving money from a Wealthsimple Invest account to a Wealthsimple Cash account or another Invest account, it will take up to 3 business days to trade your portfolio and during this time the value of your account may change. Your funds will be moved within 7 business days.
- If you'd like to move funds from Wealthsimple Invest to Wealthsimple Trade, take a look at our guide to transferring a Wealthsimple Invest account into Wealthsimple Trade.
- Transfers between eligible Wealthsimple Trade and Crypto accounts will take up to 3 days.
How long does it take to withdraw money from my Wealthsimple accounts?
- If you’re withdrawing from a Wealthsimple Cash account, the withdrawal will take 1-2 business days. However, in some cases it may take up to 5 business days.
- If you’re withdrawing from a Wealthsimple Invest account it will take up to 3 business days to liquidate funds for your withdrawal. During this time, the value of your account value may change. Your funds should be deposited in your bank account within 6 business days of making a withdrawal request.
- If you’re withdrawing from a Wealthsimple Trade account, withdrawals take 1-2 business days. However, in some cases it may take up to 5 business days.
How long does it take for new deposits to settle or get invested?
Wealthsimple Invest: When you make a new deposit to your Wealthsimple Invest account, it will appear in 1 business day. We will invest the funds within 3 days of your deposit being processed. Please note, this process can be delayed if we need you to verify your identity in order to finish your account opening.
Wealthsimple Trade: You can deposit up to $250 instantly into your Wealthsimple Trade account every 3 business days. You can use your instant deposit limit all at once as a single deposit, or spread it out over multiple deposits within the 3 day period.
If you go over your instant deposit limit or make a single deposit greater than $250, your deposit will need to 3 business days to settle before you can trade.
Wealthsimple Crypto: deposits can take up to 5 days to become available to trade.
Wealthsimple Cash: deposits into your account take 1 business day.
How long does it take for a risk score change to be reflected in my account?
When you make a risk score change, you will see your new risk score reflected in your account right away. However, it will take up to 3 business days to trade your portfolio to reflect the new risk score — and during this time the value of your account may change.
Some risk score changes require approval from a member of our portfolio management team. For example, if you’re significantly increasing the risk you’re taking by going from a Conservative to a Growth portfolio. In these cases, a member of our team will approve your request or reach out within 1 business day if they need more information. When and if the request is approved, it will take 3 business days to trade your portfolio to reflect the new risk score (during this time the value of your account may change).
How long will it take to transfer an existing investment account to Wealthsimple from another institution?
It usually takes 3-4 weeks to transfer an existing investment account to Wealthsimple. In some circumstances, it can take up to 8 weeks - depending on how quickly your existing institution processes your request. We encourage you to initiate your transfer from your Wealthsimple account so that our transfers team has everything they need to help the process along — and reach out to your relinquishing institution if there are any issues.
How long will it take to transfer my Wealthsimple account to another institution?
First of all, we’re sorry to see you go! But if you do transfer your account out of Wealthsimple, we do our very best to make it as smooth as possible. It takes 10 business days for us to process a transfer once we receive a completed transfer form your other institution. This doesn't include time in transit and processing time by the other institution, or additional processing time if your request is rejected for any reason.
More timelines you may find helpful:
|Money movement type||Timeline|
|Manual ID verification (in the event we need proof of ID to open your account)||1 business day|
|Manual bank doc verification (in the event that we need you to provide extra documentation to link your bank account)||1 business day|
|Single-director corporate account opening||2 business days|
|Multi-director corporate account opening||We do our best to process these account openings within 2 weeks; however, this timeline can vary significantly due to the complex nature of multi-director accounts|
|Client information updates updates (e.g., compliance letters, name change, account re-opening)||2 weeks|
|Estate processing||We're very sorry to hear about your loss. We do our best to process estates within 5-8 weeks. However, this timeline can vary significantly due to the complex nature of estate processing.|