There are two ways to add funds to your Wealthsimple Cash account. You can make a deposit by connecting your bank account (which takes 5 business days) or you can fund instantly using your debit card!
To fund using your debit card, take the following steps:
- Get the latest version of the Wealthsimple Cash app.
- Click on the balance of at the top of your screen, and then click “Add”
- Choose “debit funding”
- Connect your debit card by entering your card details. Make sure you’re the sole owner of the debit card (joint and business cards are not supported).
What debit cards are supported?
Right now only Visa debit cards are supported, but we’re adding support for Mastercard debit soon. You can look for this logo on your debit card, to see if it’s supported.
Institutions that will not work:
- BMO (Coming soon)
- Desjardins (Coming soon)
- PC Financial (Coming soon)
Are there limits on how much I can deposit instantly with my debit card?
Yes, instant deposits have limits. You can deposit up to $500 in a single deposit, up to a maximum of $5,000 each month.
How do I remove a debit card?
The option to remove a debit card isn’t currently available, but we’ll be adding it soon.
How will my information (card details) be stored?
Wealthsimple does not store full card details and leverages a PCI compliant payment processor to ensure you card details are encrypted and kept secure
Will there be any fees for my deposit?
Wealthsimple does not charge fees when processing a debit card deposit but depending on your bank account plan, you may be charged a fee on your debit card.