Depositing funds into your account
Once you've linked your bank account, you can make a deposit in Canadian dollars from any chequing or savings account with a Canadian bank into Wealthsimple.
Timelines for when your funds become available will depend on the amount you’re depositing, along with the account you’re depositing into. Deposits typically take 1–5 business days to become available in your account.
Learn more about specific timelines for deposits: Make a deposit into your account
You can make a withdrawal in Canadian dollars from a Wealthsimple account to any linked chequing or savings account with a Canadian bank on your profile. In order to make a withdrawal from any Wealthsimple account, the funds will have to have been in your account for a minimum of five business days.
Timelines for withdrawals will depend on the account that you’re withdrawing from. Withdrawals typically take 1–7 business days to complete.
Learn more about specific timelines for withdrawals: Make a withdrawal from your account
Moving funds between your Wealthsimple accounts
Funds must be in your account for a minimum of five business days before you can move them from one Wealthsimple account to another.
Timelines for moving funds between your accounts depend on a number of factors, including the account the funds are coming from, and the account they are going to.
Reference this guide to understand exactly how long it will take you to move your funds between your accounts.
Transferring an existing account from another institution to Wealthsimple
Transferring an existing account from another institution to Wealthsimple is a very technical process. It typically takes 1–4 weeks to transfer an existing investment account to Wealthsimple.
In rare cases, a transfer may take up to 6–8 weeks if your institution rejects the initial transfer request. If this happens, our team will reach out and provide the next steps on how you can get the transfer back on track.
Learn more about timelines for transferring an existing account to Wealthsimple:
Transfer your Wealthsimple account to another institution
If you decide to transfer your account out of Wealthsimple, we do our very best to make it as smooth as possible. It takes Wealthsimple 10 business days for us to process a transfer once we receive a completed transfer from 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.
Learn more about transferring your Wealthsimple account to another institution
Please sign in to leave a comment.