Overview

You can send and receive money from anyone who also has a Wealthsimple chequing account. Chequing accounts come with the Pay your friends with Wealthsimple feature that allows you to effortlessly send and request money.

Wealthsimple vs Interac e-Transfer®

Interac e-Transfer transactions and Pay your friends with Wealthsimple transfers are two methods to send and receive money with others. Check out the features of each method below to compare them:

Send money to your friends

With your chequing account, you can send and request money from others without paying any fees. 

To send money to friends, follow these steps:

1. Log in to your Wealthsimple mobile app
2. Tap your chequing account
3. Select More from the options at the top of the account screen
4. Choose Pay your friends with Wealthsimple
5. Tap Send money
6. Select a contact
7. Confirm with the recipient that you have their correct $handle
8. Enter an amount that you wish to send and tap Next
9. Add an emoticon or write a message
10. 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 mobile app:

1. Log in to your Wealthsimple mobile app
2. Tap your chequing account
3. Tap More
4. Select Pay friends with Wealthsimple
5. Tap Request money
6. Search (either by name, $ign, or phone number)
7. Select a contact
8. Enter the amount you wish to request and tap Next
9. Tap Request from [contact]
10. 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.

Remove a contact after sending them funds

It is not possible to remove a specific Wealthsimple contact. To remove an Interac e-Transfer contact, follow these instructions.