Wire funds from your Wealthsimple account

In this article:

Overview

Note: This feature is rolling out to all clients in stages. If you don't see the option in your app, you'll get access soon.

A wire transfer is an alternative method to withdraw funds from your Wealthsimple accounts.

You can send a wire transfer to another financial institution in Canada using CAD or USD currency, depending on the account you’re withdrawing from. We don’t currently support sending international wire transfers.

Most financial institutions accept wire transfers. Always double-check the bank details of the person you're sending a wire to and ensure they’re able to accept the transfer.

Note: Tangerine doesn’t support receiving wire transfers.

Eligible accounts for wire transfers

You can send a first-party wire transfer from the following account types:

  • Chequing
  • Joint chequing
  • USD Savings
  • Non-registered
  • Joint non-registered
  • Corporate

You can send a third-party wire transfer from the following account types:

  • Chequing
  • Joint chequing
  • USD Savings
  • Non-registered
  • Joint non-registered

Fees

Wire transfers from eligible Wealthsimple accounts are free of charge until August 31, 2025. For more information, please review the full terms and conditions for the Wealthsimple $0 Wires and $0 Bank Draft Orders Promotion.

Please keep in mind that the receiving institution may charge a separate fee to process your wire transfer.

Note: Before submitting your wire transfer, check that all of your details are correct. If the receiving financial institution rejects your wire, additional fees may apply.

How to wire funds from your account

Note: This feature is rolling out to all clients in stages. If you don't see the option in your app, you'll get access soon.

Follow these steps to send a wire transfer from your Wealthsimple account (mobile only): 

  1. Sign in to your Wealthsimple app on your mobile device
  2. Tap the Move tab
  3. Tap Wire funds
  4. Enter the beneficiary’s personal information and bank details
  5. Enter the total amount, currency (if applicable), and reason for the wire transfer
  6. Confirm details and select Submit
  7. Verify your wire transfer using two-factor authentication

Transfer timeline

It typically takes 1 business day for Wealthsimple to send out your wire transfer. Once your wire transfer is sent, it may take additional time for the receiving financial institution to accept the funds. If we need to review any of the information in the wire transfer, this may delay the transfer timeline.

Once your wire transfer is sent, you’ll receive a confirmation email with a reference number attached.

Frequently asked questions

Can I cancel my wire transfer?

You can cancel a wire transfer only if we haven't sent it yet. Follow these steps to cancel your wire transfer:

  1. Sign in to your Wealthsimple app on your mobile device
  2. Tap the Activity tab
  3. Tap the wire transfer activity
  4. Tap Cancel

If you can’t cancel your wire transfer using these steps, it’s too late to cancel.

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