With your Cash account, you can send and receive payments to others without paying any fees.
Send money to your friends
When sending funds to your friends through Cash, you will be given the option to send from your bank or your wallet.
- Bank: Funds are taken directly from your bank account. You can send up to $250 to friends through this method.
- Wallet: Funds are taken from your available funds in your Cash account. The amount you send is limited to the balance available in your Cash account.
Tip: Bank is the default option, so make sure to toggle to Wallet if you wish to send funds from your Cash wallet instead.
To send money to friends, follow these steps —
- Log in to your Wealthsimple mobile app
- Tap the Cash tab (Card icon) at the bottom of your screen
- Select the chat bubble icon in the middle of the screen
- Search (either by name, $ign, or phone number) and select a contact or enter a new contact's phone number
- Tap Send at the bottom of your screen
- Enter an amount that you wish to send and tap Continue
- Add an emoticon or write a message
- Swipe up to send to your contact
Any money you send will be auto-deposited into your receiver's Cash account. If your receiver does not have the Wealthsimple app, we'll prompt them to download it to claim their funds.
Tip: It's not possible to cancel or recall funds after you've sent them. We recommend double-checking the amount you're sending and who you're sending it to before confirming the transfer.
Sending limits
Your Cash account has daily, weekly, and monthly sending limits. We won't complete any transactions that go over your sending limit.
| Timeframe | Sending limit |
| Per day | $5,000.00CAD |
| Per week | $10,000.00CAD |
| Per month (30 days) | $30,000.00CAD |
Remove a contact after sending them funds
It is not possible to remove a specific contact from your Wealthsimple app home screen.
Note: You can revoke WS Cash's access to your contacts as a whole by navigating to the settings of your device. That being said, please keep in mind that this will remove all your contacts from the app.
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