- Funds must be in your available to withdraw balance before they can be withdrawn instantly.
- Wealthsimple charges a 2.5% fee on the total withdrawal amount anytime you withdraw funds using a linked debit card.
- Withdrawing using a linked debit is only available for non-registered accounts and TFSAs on Wealthsimple's self-directed trading platform. Other accounts, such as RRSPs, RESPs and any managed account are not supported
- Wealthsimple does not store full card details. We use a PCI-compliant payment processor to ensure your card details are encrypted and kept secure.
To make a withdrawal using your debit card, follow these steps:
- Log in to your Wealthsimple mobile app
- Tap the Move tab at the bottom of the screen
- Tap Withdraw
- Select the account you wish to withdraw from and tap Next
- Tap Withdraw to an external account
- Select the debit card you want to withdraw to and tap Next
- Tap Continue
- Enter the amount you wish to withdraw, and tap Next
- Review your withdrawal details and Submit withdrawal
Instant withdrawal limits
The following limits apply when instantly withdrawing funds to your debit card.
Your debit card is eligible for debit withdrawals if your card issuer or financial institution supports this kind of instant fund movement. Supported institutions include:
- TD Canada Trust Visa debit
- CIBC Visa debit
- Scotiabank Visa debit
- Tangerine Visa debit
- Servus Credit Union Mastercard debit
Institutions that are not supported include:
- RBC virtual Visa debit
- BMO Mastercard debit
- Any prepaid debit cards (Visa and Mastercard)
Remove a debit card from your profile
- Sign in to the Wealthsimple app on your mobile device
- Tap the Profile icon at the top-right of your screen
- Select Accounts
- Scroll down to Linked bank accounts
- Tap the card that you wish to remove
- Select Unlink to remove your card