In this article:
Tip: This article covers how to send or request money with the Pay friends with Wealthsimple feature. For information about Interac e-Transfer transactions, please continue to an article below:
Overview
You can send and receive money from anyone who also has a Wealthsimple chequing account. Chequing accounts come with the Pay friends with Wealthsimple feature that allows you to effortlessly send and request money. We've refreshed the look of the send screen, including an updated contact list, and added new ways to manage your contacts.
Wealthsimple vs Interac e-Transfer®
| Feature | Pay friends with Wealthsimple | Interac e-Transfer |
|---|---|---|
| Send money instantly | Yes | No (takes up to 30 minutes to be received) |
| Send money to an individual | Yes | Yes |
| Request money from an individual | Yes | Yes |
| Split a bill with a group of contacts | Yes | No |
| Block a contact | Yes | No |
| Pin a favourite contact | Yes | No |
Send money to your friends
To send money to friends, follow these steps:
- Log in to the Wealthsimple app
- Tap your chequing account
- Choose Pay friends
- Tap Send money
- Search (either by name, $ign, or phone number)
- Select a contact
- Confirm with the recipient that you have their correct $handle
- Enter an amount that you wish to send and tap Next
- 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 chequing account.
Request money from your friends
You can request money from friends who have a Wealthsimple handle through the app:
- Log in to the Wealthsimple app
- Tap your chequing account
- Select Pay friends
- Tap Request money
- Search (either by name, $ign, or phone number)
- Select a contact
- Enter the amount you wish to request and tap Next
- Tap Request from [contact]
- Your contact will then be notified about the request
Sending limits
Your chequing 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 | $5,000.00 CAD |
| Per week | $10,000.00 CAD |
| Per month (30 days) | $30,000.00 CAD |
Manage your contacts
Give a contact a nickname
You can give a Wealthsimple contact a nickname. Your nickname shows up in your contact list and activity feed instead of their account display name. You can remove a nickname at any time from the contact's details, and it'll switch back to their original name automatically.
Delete and re-add a contact
You can delete a Wealthsimple contact from your list. Deleting a contact only removes them from your list — it doesn't affect your ability to send to them again. Search for their handle and add them back the same way you added them the first time. Your past send history with them isn't affected either way.
Pin a favourite contact
You can pin favourite contacts so they're easier to find. Look for the pin option on a contact in your list.
Block or unblock a contact
Blocking a contact stops them from sending to or requesting from you and removes them from your visible contact list. You can block or unblock a contact from their contact details in the app.
For full steps, see Update your privacy settings or block a contact in your chequing account.
Frequently asked questions
Why does the Pay friends send screen look different?
We've refreshed the look of the send screen to match the rest of the Wealthsimple app. Everything works the same way, and you can still send money to your contacts as usual.
Why can't I request money using the new Pay friends design yet?
We're still working on bringing the modernized look to requests. For now, requesting money uses the design you're used to.
Can I give a contact a nickname?
Yes. Nicknames show up in your contact list and activity feed instead of the contact's account display name. You can remove the nickname anytime to see their original name again.
I deleted a contact by accident, can I get them back?
Yes. Deleting a contact just removes them from your list. Search for their handle and add them back the same way you added them the first time. Your past send history with them isn't affected.
Can I keep certain contacts at the top of my list?
Yes. You can pin favourite contacts so they're easier to find.
How do I block or unblock someone on Pay friends?
You can block or unblock a contact from their contact details. If you unblock someone but they've also blocked you, you still won't be able to send to each other until they unblock you too.
Can I cancel or reverse a payment I already sent?
No. It's not possible to cancel or recall funds after you've sent them, so double-check the recipient and amount before confirming a send.
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