Overview

Auto-save is an automatic transfer rule you set up. It moves a percentage of each qualifying external deposit from your Business chequing account to another Wealthsimple account under the same business, so you don’t have to make the transfer manually each time.

Eligibility and limitations

• Auto-save is available on the Wealthsimple app during the initial rollout.
• Your destination account must be under the same business.
• You can choose a savings percentage between 1% and 100%.
• Only qualifying external deposits trigger Auto-save. Internal transfers and selling holdings don’t trigger it.

How to set up Auto-save

Follow these steps in the Wealthsimple app (not available on web):

1. Log in to the Wealthsimple app.
2. Open your Business Chequing account.
3. Tap the Auto-Save widget.
4. Select the destination account.
5. Enter the percentage you want to transfer.
6. Review the details, then confirm to create the rule.

How Auto-save works with deposit holds

If a deposit has a hold, your Auto-save rule will trigger when funds become available:

• Instantly available amounts will trigger and move to the account of your choosing instantly. Direct deposits, wires, and Interac e-Transfer transactions are examples of instantly available deposit types.
• Any remaining amounts will trigger and move to the other account when the hold expires.

How to view, edit, or delete Auto-save

Follow these steps in the Wealthsimple app (not available on web):

1. Log in to the Wealthsimple app.
2. Open your Business chequing account.
3. Tap the Auto-Save widget.
4. Select your rule to view details.
5. Select Edit to change the percentage, or select Delete to remove the rule.

Frequently asked questions