Send an e-transfer to someone who does not have a Cash account

You can send an e-transfer directly from your Cash account to anyone that does not use Wealthsimple Cash. 

Note: If you try to send an e-transfer to an existing Cash user, we will prompt you to send them money directly through the Wealthsimple app instead.

Contacts you are able to e-transfer will appear as email addresses on your contact screen. 

To find your e-transfer contacts, follow these steps:

  1. Log in to your Wealthsimple mobile app
  2. Tap the Cash tab (Card icon) at the bottom of your screen
  3. Select the Send or request chat bubble
  4. Select Send e-Transfer
  5. Enter in your contact's information and tap Continue
  6. Create a Security question and Security answer, then tap Continue
  7. Enter the amount you wish to send, and select if you want it to come from your Bank or Wallet
  8. Follow the prompts to send your e-transfer

Tip: If you wish to add a new contact, tap the Email money button instead.

Once you have selected the contact, follow these steps to finish setting up your e-transfer:

  1. Confirm you are sending money to the right contact, and tap Continue
  2. Create a Security question and Security answer, then tap Continue
  3. Enter the amount you wish to send, and select if you want it to come from your Bank or Wallet
  4. Follow the prompts to send your e-transfer

Your recipient will see the e-transfer come through to their email. They will have the option to either download the Wealthsimple app, or deposit the e-transfer directly to their bank.

Note: The e-transfer will come through from Vopay International Inc.

Check the status of your e-transfer

To check the status of an e-transfer you sent, follow these steps:

  1. Log in to your Wealthsimple mobile app
  2. Tap the Profile icon at the bottom of your screen
  3. Select Activity
  4. Under Recent, tap your e-transfer
  5. Under Status, you will see the status of your e-transfer
 

Cancel a pending e-transfer

To cancel a pending e-transfer, follow these steps: 

  1. Log in to your Wealthsimple mobile app
  2. Tap the Profile icon tab at the bottom of your screen
  3. Select Activity
  4. Under Recent, tap your pending e-transfer
  5. Tap Cancel 
Note: It takes around 10-15 minutes to process canceling an e-transfer. Once successfully canceled, the e-transfer will show up as Expired.

E-transfer sending limits

E-transfer limits on Cash are the same as the standard send limits on Cash. We won’t complete any transaction that goes over the send limits. We have listed the limits below:

Timeframe Sending limit
Per day $3,000.00CAD
Per week $10,000.00CAD
Per month (30 days) $30,000.00CAD

E-transfer security questions

Wealthsimple requires you to submit a security question and answer when sending someone an e-transfer. Wealthsimple does not have the ability to detect whether the receiver of an e-transfer has set up an auto-deposit. For this reason, we require a security question and answer for all e-transfers.

You only need to create a security question and answer the first time you send an e-transfer to an email contact. The question and answer are both saved by default for a particular contact, however, the sender can edit them at their discretion.

To reference a previous question and answer on a pending e-transfer, follow these steps:

  1. Log in to your Wealthsimple mobile app
  2. Tap your wallet balance in the top left-hand corner
  3. Choose the e-transfer from your transaction history
  4. Here you will see the transaction details, along with your security question and answer

To edit your existing security question and answer, follow these steps:

  1. Log in to your Wealthsimple mobile app
  2. Tap the Card icon at the bottom of the screen
  3. Search for your contact and tap their email
  4. Tap Continue
  5. Here, you can update your Security question and Security answer
Note: You cannot edit your security question and answer on a pending e-transfer.

 

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