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Overview
You can use Apple Pay or Google Pay to instantly deposit funds into your Wealthsimple account using a Canadian-issued CAD debit card stored in your digital wallet. There's no need to manually link a card. Support depends on your bank: most major Canadian banks work, though some don't yet support their debit card for online or in-app purchases.
How to add your card
How you add your card depends on your bank.
Most Canadian banks
This includes Scotiabank, BMO, Tangerine, National Bank, ATB, and Servus. Add your existing debit card to your wallet the usual way:
- iPhone: set up Apple Pay in Wallet
- Android: add a debit or credit card to Google Wallet
CIBC
You'll need the Visa Debit version of your CIBC card added to your wallet, not your regular Interac debit. It's the same physical card, but CIBC issues it under two payment networks, so it appears as two separate entries in your wallet. Choose the one labelled Visa Debit for online and in-app purchases. See CIBC's guide to setting up a mobile wallet.
RBC
You'll need your RBC Virtual Visa Debit card, which is different from your regular chequing debit card. If you don't have one yet, you can set one up for free in the RBC Mobile app. See RBC's Virtual Visa Debit page for details. Once you have it, add it to your wallet using RBC's Apple Pay guide or Google Pay guide.
TD or Simplii
Your bank doesn't currently allow using your debit card with Apple Pay or Google Pay for online or in-app purchases. If you'd like this to change, let your bank know you'd like this supported.
Eligibility
To deposit with your digital wallet, you'll need:
- An Apple or Android device with Apple Pay or Google Pay set up
- A Canadian-issued CAD debit card added to your Apple Wallet or Google Wallet, from a bank that supports online or in-app purchases with that wallet (see How to add your card above)
- The latest version of the Wealthsimple app
Why deposit with your digital wallet
- No card linking or credentials to enter. Once your debit card is in your Apple Wallet or Google Wallet, you can deposit right away: there's no need to type in card numbers or go through a separate linking process.
- Faster funding. Debit card deposits with Apple Pay or Google Pay are instant, so your funds are available in your Wealthsimple account right away.
- More reliable than linking a card manually. Because your card is already set up in your digital wallet, you avoid many of the common issues that can come up when linking a debit card for the first time.
- Secure by design. You confirm each deposit with Face ID, Touch ID, your passcode, fingerprint, or PIN, and your actual card number is never shared with Wealthsimple: Apple Pay and Google Pay use a secure token in its place.
- No extra fees. Wealthsimple doesn't charge a fee to deposit with Apple Pay or Google Pay.
How to deposit with your digital wallet
To deposit funds using your digital wallet:
- Log in to the Wealthsimple app
- Tap the Move tab at the bottom of your screen
- Under Move money, tap Add money
- Choose an account to deposit to
- Under Debit, choose Apple Pay (iOS) or Google Pay (Android)
- Tap Next
- Enter the amount you'd like to deposit
- Tap Next
- Review the deposit details and confirm with Face ID, Touch ID, your passcode, fingerprint, or PIN
- Tap Done
Frequently asked questions
What is Apple Pay/Google Pay and how does it work for deposits?
Apple Pay and Google Pay are mobile payment methods that let you fund your Wealthsimple account using a debit card stored in your digital wallet. Select Apple Pay or Google Pay as your funding method, choose your debit card, and confirm with your device's biometrics or PIN. The funds leave your card right away.
Which cards can I use?
You can use Canadian-issued debit cards stored in your Apple Wallet or Google Wallet. Credit cards and internationally-issued cards aren't supported for these deposits at this time.
Does this work with any bank's debit card?
Not every bank supports using their debit card for online or in-app payments, which is what depositing requires. Most major Canadian banks work, but some, currently TD and Simplii, don't support their standard debit card for this yet. See How to add your card above for details. If your bank isn't supported, you can still fund your account another way, like a linked bank account or Interac e-Transfer®.
I added my CIBC or RBC debit card but my deposit isn't working. Why?
CIBC and RBC debit cards work on two networks: one for in-store tap payments, and a Visa Debit version for online and in-app purchases. Depositing needs the Visa Debit version. See How to add your card above for how to find and add the right card.
What if I don't have a debit card set up in my wallet yet?
You can add a debit card to your Apple Wallet or Google Wallet directly within the Wealthsimple app when you select Apple Pay or Google Pay. You don't need to leave the app to do it.
Is this available on web?
These deposits are only available in the Wealthsimple app right now. Web support may be added in a future update.
Can I use Apple Pay or Google Pay to withdraw money from my account?
Not yet. Currently available for deposits only. Withdrawal support may come in a future update.
Why did my deposit fail?
A deposit can fail for a few reasons. Your bank may have declined it, for example if the transaction exceeds a limit your bank sets on your card, or your wallet's card details may be out of date. Some banks also don't support these deposits at all (see How to add your card above). We aren't able to see the exact reason on our end, so if it keeps happening, your bank is the best place to check. You can also fund your account another way, like a linked bank account or Interac e-Transfer®.
Is it safe?
Yes. Apple Pay and Google Pay use your device's biometric authentication and tokenization, so your actual card number is never shared with Wealthsimple. Each transaction is authorized with a one-time code unique to that payment.
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