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.
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.
Your Cash account has daily, weekly, and monthly sending limits. We won't complete any transactions that go over your sending limit.
|Per month (30 days)||$5,000.00CAD|
Remove a contact after sending them funds
It is not possible to remove a specific contact from your Wealthsimple app home screen.
Frequently asked questions
Wealthsimple Cash is moving to the Wealthsimple app, this is what you need to know:
How do I sign up for the Wealthsimple app?
Download the Wealthsimple app, tap Cash then follow the instructions to get your very own no-fee card. This will unlock all the features of Wealthsimple Cash, in the Cash tab.
Can I still use the Wealthsimple Cash app?
Yep, until August 31, 2022, when we’ll be saying bye to the Wealthsimple Cash app for good.
Why would I get the Wealthsimple Cash card?
You’ll get 1% back in cash, stock, or crypto on everyday purchases, plus there are no monthly fees or foreign exchange fees, and it won't impact your credit score.