Setting up third-party RESP contributions by cheque

In this article:

Overview

Wealthsimple can accept contributions to an RESP from a third party. A contribution from a third party is defined as occasional gifts or aid from family friends, godparents, grandparents, relatives, neighbours, non-profit organizations, and similar, in a beneficiary’s name. 

Note: You can only set up cheque deposits for third-party RESP contributions in RESP accounts. You can't use other accounts, like your chequing account, as the deposit destination account. 

How to set up a third-party contribution for an RESP

Please fill out the RESP Third-Party Contribution form if you wish to contribute to a beneficiary’s Wealthsimple RESP account.

Note: If the completed form doesn't match the information on the cheque that we received for you, we may ask you to complete this form again.

Once complete, the contributor can make a cheque payable (and recurring payments) to our back office, Wealthsimple Investments Inc., with the beneficiary's name and account number as a note. We can only accept cheques for this type of contribution.

Please mail your contribution cheque(s) to:
Wealthsimple Investments Inc.
201- 80 Spadina Ave
Toronto, ON M5V 2J4
Payee: Wealthsimple Investments Inc.

Processing timeline

Cheque deposits typically take a few weeks to process and will be reflected on your monthly statement.

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