Overview
You can send an e-Transfer directly from your Cash account to anyone who doesn't use Wealthsimple Cash. You can send:
- standard Interac e-Transfers®,
- one-time e-Transfers to temporary contacts,
- schedule future e-Transfers, and
- set up recurring e-Transfers.
e-Transfer sending limits
e-Transfer limits and standard send limits from Cash accounts are the same. We won’t complete any transaction that goes over the send limits below:
- Per day (24 hours): $5,000 CAD
- Per week (7 days): $10,000 CAD
- Per month (30 days): $30,000 CAD
Sending an e-Transfer is like sending cash. You should always be cautious when sending or receiving money. Here are some things to think about before sending an Interac e-Transfer:
- Only send money to contacts you know and trust. Once you submit an Interac e-Transfer and the recipient deposits the funds, there is no way to reverse it.
- If your transfer requires a password, choose one that cannot be easily guessed or found. Be sure to share it through a safe channel.
Send an Interac e-Transfer
You can send e-Transfers to new and existing contacts, or you can send a one-time e-Transfer to a temporary contact that won't be saved to your contact list. Toggle the Send to this person one time button (available on the mobile app only) to send a one-time e-transfer.
To send a standard e-Transfer, follow these steps:
- Log in to your Wealthsimple mobile app
- From the Home tab, select your Cash account
- Tap Send from the options at the top of the account screen
- Select INTERAC e-Transfer
- Select the contact or tap Send to a new contact to send to a new recipient
Note: If they don't have auto-deposit enabled, you must create a security question and answer. Tap Next to continue. - To schedule the e-Transfer, tap Today to open the date selector and choose a future date
- To set up a recurring e-Transfer, tap One-time to open the frequency selector and choose when the e-Transfer will recur
- Enter an amount to send and tap Next
- Follow the prompts to send or schedule your e-Transfer
- Log in to your Wealthsimple profile
- From the Home page, select your Cash account
- Select Send money
- Choose Send money via Interac e-Transfer
- Select a contact to send the eTransfer to, or select + Add contact to send to a new recipient
- Enter an Amount to send
- To schedule the e-Transfer, select the Date selector and choose a future date
- To set up a recurring e-Transfer, tap the Frequency selector and choose when the e-Transfer will recur
- Select Next to continue setting up your e-Transfer
Note: If they don't have auto-deposit enabled, you must create a security question and answer. Select Next to continue. - Select Send
Review an e-Transfer security question
To reference a previous question and answer on a pending e-Transfer, follow these steps:
- Log in to your Wealthsimple mobile app
- Tap the Activity tab at the bottom of your screen
- Select the e-Transfer to view the security question and answer
- Log in to your Wealthsimple account
- Select the Activity tab at the top of your screen
- Select the e-Transfer to view the security question and answer
Change your preferred name
You can change your preferred name on the Wealthsimple mobile app. Your preferred name is used when you send an e-Transfer.
To change your preferred name:
- Tap the Profile icon in the top right corner
- Tap the Settings (gear) icon in the top right corner
- Select Personal information from the menu
- Under Details, tap Preferred name
- Enter your preferred name and tap Update to save your changes
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