Once you've linked your bank account, you can make a deposit in Canadian dollars from any chequing or savings account with a Canadian bank into Wealthsimple. If you've upgraded to USD accounts, you can also make a USD deposit into a self-directed account from a USD bank account.
- How to make a deposit
- Deposits into stock and crypto trading accounts
- Deposits into managed accounts
How to make a deposit
To make a deposit, follow the steps below:
- Sign in to the Wealthsimple app on your mobile device
- Tap the Dollar sign at the bottom of the screen
- Choose Deposit funds
- Choose an account to deposit to and tap Continue
- Choose a linked bank account and tap Continue
- Enter an amount to deposit into your account and tap Continue
- Review the details and tap Submit deposit
Stocks, ETFs & Crypto
- Log into my.wealthsimple.com and sign in to your Stocks, ETFs & Crypto profile
- Select Move funds from the top menu bar
- Click on Add funds
- In the From field, select the bank account from which you’d like to withdraw funds
- In the To field, select your desired account
- Choose an amount to deposit
- Hit Continue
- Review the deposit details and click Confirm to submit the deposit
Managed Investing & Save
- Log into my.wealthsimple.com and sign in to your Managed Investing & Save profile
- Click Move funds from the top menu bar
- Select the bank account you would like to transfer funds From
- Select the Wealthsimple account you would like to transfer funds To
- Enter the Amount you'd like to transfer
- Schedule the frequency of the deposit (if this is a one-time contribution select Just this once)
- Choose a Transfer date for the transaction
- Click Submit deposit
- Review and Confirm this deposit
Deposits into stock and crypto trading accounts
Deposit limits in trading accounts
Depending on how much you deposit into your stock or crypto trading account, some funds might be available instantly, while the rest might take between 3–5 business days before you can begin trading.
Amounts deposited within your instant deposit limit are available for you to trade immediately. Your instant deposit limit resets once every 3 business days and you can deposit your entire limit all at once, or spread it out across multiple deposits.
If you make a single deposit to a stock or crypto trading account that is greater than your instant deposit limit, the portion of your deposit that falls within your limit will be available to trade immediately. The remaining amount of your deposit will be available within 3-5 business days. This does not apply to deposits made on the web.
Find your unique instant deposit limit for your trading and crypto accounts
Your unique instant deposit limit will be visible to you in your Wealthsimple app. To find your instant deposit limit, follow these steps :
- Log in to your Wealthsimple mobile app
- Tap the Dollar sign at the bottom of your screen
- Select Deposit funds
- Choose an account and tap Continue
- Under Deposit from, you will see your linked accounts. Underneath each of them will be the amount that you are eligible to deposit instantly
Understand how your unique instant deposit limit is calculated
Your unique instant deposit limit depends on a number of factors, including the amount you hold in your Wealthsimple accounts and your prior activity with Wealthsimple.
While each individual will have a different limit based on many factors, instant deposit limits will fall between $1,500 and $50,000.
If you go over your instant deposit limit, any deposit you make will be a standard deposit until your instant deposit limit resets. Standard deposits follow the following timelines:
Time before being available to trade
3 business days
$50,000 or more
5 business days
Auto deposits always take 3-5 business days (from the auto-deposit date) before being available to trade. Auto-deposits will not be available instantly, and do not count towards your instant deposit limit.
More information about deposits in trading accounts
You’ll know a deposit is complete when you see the funds added to your available to withdraw balance. In your bank account, you should see the funds deducted by WSII, which is Wealthsimple’s brokerage.
The following limits apply to deposits made to your self-directed stock trading accounts:
- Limit per transaction: $250,000 CAD
- Daily limit: $250,000 CAD
There are no deposit limits for your crypto trading account, however, there is an annual net purchase limit for certain coins and tokens.
- If there aren't enough funds in your bank account to cover your deposit, we may need to retract the funds you requested or sell some of your most recently purchased securities if you already invested the funds. This may result in a negative balance.
- If any of your accounts have a negative balance, you won’t be able to use instant deposits until the balance is positive again.
- Deposits to self-directed trading accounts do not count towards your Wealthsimple Black or Generation status.
Deposits into managed accounts
When you deposit funds into a managed (Invest) account, your funds will automatically be invested for you within 3 business days.
You'll know a deposit is complete when you see your funds in your available-to-withdraw balance. In your bank account, you should see the funds deducted by WSII, which is Wealthsimple’s brokerage.
The following limits apply to deposits made to your managed (Invest) accounts:
- Limit per transaction: $1 million CAD
- Daily limit: $1.5 million CAD
Within each of your accounts, we will keep between 0.3% and 0.5% of your account's value in cash. As soon as the cash balance surpasses this 0.5% weighting (whether it be through a new deposit, internal transfer, or dividend distributions) the majority of cash in your account will be invested, bringing the cash weighting to around 0.1–0.2%.
This small buffer is used for operational purposes to cover fees for up to 2 months and to avoid delinquencies. The decision to hold up to 0.5% in cash has a negligible effect on the portfolio, which is why virtually all institutions choose to leave a small buffer in cash.
Deposits into Cash accounts
Your first deposit into your Cash account will take 5 business days to settle. This means that the funds will not be available to send or spend within the first 5 business days.
After making your first successful deposit, you will gain an instant deposit limit. Refer to the table below to understand when you can use your funds for all future deposits:
|Amount you are depositing||Time before you can send or spend your funds|
|[For eligible users] If you deposit $250 or less||Instantly. Note that the $250 instant deposit limit resets after three business days. You may choose to deposit $250 all at once, or deposit $100 on the first day and then $150 the next day|
For all amounts or [for those eligible] if you go over your instant deposit limit
|Your funds will be available to send within 5 business days|
You'll know a deposit has cleared when you see funds deducted by Wealthsimple Payments Inc. in your bank account.
The following limits apply to deposits made to your spending accounts:
- Limit per transaction: $1 million CAD
- Daily limit: $1.5 million CAD
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