Instead of making a deposit to add funds to your Wealthsimple account, you can add funds using an INTERAC e-transfer. By funding your account through an e-transfer, you can deposit up to $3,000 instantly every day. You can deposit a maximum of $10,000 per week, and $20,000 per month.

More details

• Wealthsimple does not charge fees when processing an e-transfer. Your bank may charge you a fee depending on their fee schedule for your account.
• Funds that come from an e-transfer will be available to send, spend, invest, trade and withdraw right away. Withdrawals may take up to 2 business days to show up in your linked bank account. 
• You can make up to five e-transfer funding deposits in a 24-hour period. 

Supported accounts

Below you can see what accounts are available to fund instantly with INTERAC e-transfer: 

Send yourself an e-transfer

To fund your account with INTERAC e-transfer, you will need to send a request for an e-transfer from your Wealthsimple account to your bank account. 

When requesting an e-transfer from your bank account, we will automatically use the email address on file with Wealthsimple. If your bank account is not associated with the email address as your Wealthsimple profile, you will need to update your Wealthsimple email address to match the email on file with your bank.

To send yourself an e-transfer request, follow these steps: 

1. Log in to your Wealthsimple mobile app
2. Tap the Dollar sign at the bottom of the screen
3. Choose Deposit funds
4. Choose an account and tap Continue
5. Select the Interac e-transfer menu option
6. Enter an amount and tap Continue
7. Review your details and Submit request

Once you request your e-transfer, INTERAC will send you an email with a prompt to open your online banking portal to action the request. From there, you can follow the prompts from your online banking portal to set up the e-transfer to your Wealthsimple account. 

Cancel an e-transfer request

Once you send an INTERAC e-transfer to yourself, you will be unable to cancel it. If you no longer want to fulfill the request, you can ignore it. 

Receiving e-transfers from someone else

E-transfer deposit requests can only be accepted from a personal bank account in your name. This is in order to remain compliant with CRA rules for investment accounts (such as TFSAs). Please make sure to consult with a tax professional if you have any questions about the tax implications regarding your accounts and income.

To receive money into your Cash account from friends and family, check out these articles:

• Receive e-transfers in your Cash account

• Send and receive payments with Wealthsimple

• Request money from others through your Cash account