Overview

You can send and receive money from anyone who also has a Wealthsimple chequing account. Chequing accounts come with a built-in Wealthsimple payment feature that allows you to effortlessly send and request money.

Wealthsimple vs INTERAC e-Transfer®

INTERAC e-Transfer transactions and Wealthsimple chequing 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 the Home tab at the bottom of your screen
3. Tap your Chequing account
4. Select Send from the options at the top of the account screen
5. Choose Wealthsimple
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. 

You can change the name recipients see when they receive money from you by following these steps. 

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.

Change your preferred name

To change your preferred name:

1. Tap the Profile icon in the top right corner
2. Tap the Settings (gear) icon
3. Select Personal information from the menu
4. Under Details, tap Preferred name
5. Enter your preferred name and tap Update to save your changes