Auto-deposits are a great way to build wealth by setting aside a portion of your funds for investments.
Set up an auto-deposit
You can set up auto-deposits in CAD on a weekly, bi-weekly, or monthly basis.
Note: When you set up an auto-deposit for a trading account, your funds will be available to trade 3 - 5 business days after the scheduled deposit date.
To set up an auto-deposit, follow these steps:
- Sign in to the Wealthsimple app on your mobile device
- Tap the Dollar sign at the bottom of the screen
- Select Move funds
- Choose Auto-deposits
- Tap Create a new auto-deposit
- Pick an account to deposit into and tap Continue
- Select the bank account you wish the funds to come from
- Tap Monthly to open frequency options
- Select your preferred frequency and tap Done
- Tap Today to open start date options
- Select your preferred date and tap Done
- Enter an amount to deposit into your account and tap Continue
- Review your deposit details and tap Submit deposit
- Sign in to the Invest mobile app
- Tap Move funds on the bottom right-hand of the screen
- Select Add or move funds
- Select Automated at the top of your screen
- Tap Manage auto deposits and then New auto-deposit
- Enter the amount you'd like to deposit to your Wealthsimple account and schedule the frequency of the transfer
- Tap Continue
- Select the Wealthsimple account you would like to transfer funds into, Tap Continue
- Select the bank account you would to transfer funds out of
- Select the date for the transfer to start, Tap Continue
- Review deposit and tap Submit
Managed Investing & Save
- Log into my.wealthsimple.com and sign in to your Invest & Save profile
- Click on 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 transfer (if this a one-time contribution select Just this once)
- Choose a Transfer date for the transaction
- Click Submit deposit
- Review and Confirm this deposit
Note: You cannot create or cancel an auto-deposit for a trading account on the web.
Cancel an auto-deposit
You can cancel an auto-deposit up to 24 hours before the next scheduled deposit. If you cancel an auto-deposit within 24 hours of the next scheduled deposit, we’ll process the last deposit and cancel all future deposits.
- Sign into the Wealthsimple app on your mobile device
- Tap the Dollar sign at the bottom of your screen
- Select Move funds
- Choose Auto-deposits
- Choose the auto-deposit you wish to cancel
- Tap Delete auto deposit at the bottom of your screen
- Confirm by selecting Yes, delete it
- Sign in to the Invest mobile app
- Tap Move funds on the bottom right
- Select the Add or move funds
- Select Automated deposit
- Tap Manage Auto-deposits
- Select the auto-deposit you would like to cancel
- Tap Cancel auto-deposit
Managed Investing & Save
- Log into my.wealthsimple.com and sign in to your Managed Investing & Save profile
- Click on Activity from the top menu bar
- Select Cancel next to the auto-deposit
- Review and click Yes, cancel deposit
Frequently asked questions
- Can I change or edit an auto-deposit?
If you’d like to change or edit an auto-deposit, you will need to cancel your existing auto-deposit and set up a new one. - I set up an auto-deposit for less than $1,500 to my trading account. Can I trade my funds instantly?
Auto-deposits take 3-5 business days to settle before you can start trading funds, regardless of the amount. If a market opportunity arises and you’d like to access funds to trade straight away, consider making an instant deposit. - If I set up an auto-deposit for a TFSA, RRSP or other registered account, will you tell me if I am getting close to my contribution limit?
No. Please double check your contribution limits before setting up an auto-deposit to a registered account.
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