Overview
Instead of making a deposit to add funds to your Wealthsimple account, you can add funds using a Visa or Mastercard debit card. By adding a debit card, you can deposit up to $3,500 instantly per transaction, every day. You can deposit a maximum of $35,000 per month.
Wealthsimple doesn't store full card details. We use a PCI-compliant payment processor to ensure your card details are encrypted and kept secure.
Supported debit cards
Wealthsimple supports
- Visa debit cards from the following institutions:
- TD
- RBC
- CIBC
- Scotiabank
- Tangerine
- ATB
- all Canadian Mastercard debit cards, and
- Prepaid debit cards (such as Koho, Mogo, Stack, PC Money Card)
- Joint or business Visa debit cards
How to add a debit card
To add your debit card, follow these steps:
- Sign in to the Wealthsimple app on your mobile device
- Tap the Move tab at the bottom of your screen
- Tap Deposit
- Select Add funds
- Choose an account
- Tap Next
- Under Add an account, select Debit card
- Fill in your Visa debit or Mastercard debit card information
- Tap Link card
- Lastly, we’ll ask you to confirm that it’s your debit card. Our partner, Tabapay will send you a verification code to your email or phone number.
Deposit funds with a debit card
Once your card is linked, you can use it to deposit funds into your Wealthsimple account. Follow these steps:
- Sign in to the Wealthsimple app on your mobile device
- Tap the Move tab at the bottom of your screen
- Tap Deposit
- Select Add funds
- Choose an account
- Tap Next
- Select your linked debit card
- Tap Next
- Enter the amount you wish to deposit
- Tap Next
- Review the deposit details and tap Submit deposit
Frequently asked questions
Does Wealthsimple charge fees for debit card deposits?
Wealthsimple does not charge fees when processing a debit card deposit. However, your bank may charge you a fee depending on their fee schedule for your account.
Why can't I link my debit card?
If you're having trouble linking your Visa or Mastercard debit, consider the following:
- The billing address you have shared with us should match the billing address registered with the card. If you have recently moved, check with your bank to confirm the address you have with them.
- If you use French characters in your name or login, try entering your details without them.
- Double-check the CVV and expiry date you have entered are correct.
Why can't I add funds to my Wealthsimple account with my debit card?
If you're having trouble adding funds to your account, try sending a lower amount. You may be going over your daily spending limit set by your card issuer. You can change your daily card limit by contacting your financial institution.
How do I remove a debit card from my profile?
Follow these steps to remove a debit card:
- Sign in to the Wealthsimple app on your mobile device
- Tap the Profile icon in the top right corner
- Tap the Settings (gear) icon in the top right corner
- Select Accounts
- Scroll down and tap Linked accounts
- Tap the debit card to remove
- Select Unlink to remove your card
Comments
0 comments
Please sign in to leave a comment.