Wealthsimple Managed investing is an automated investing service. We manage your investments for you using a personalized portfolio of low-fee exchange-traded funds.

What’s the difference between Managed investing and Wealthsimple’s other products? 

• Wealthsimple Cash is a peer-to-peer payment platform for instantly sending money to friends and family
• Wealthsimple Crypto is a simple and secure way to buy and sell cryptocurrencies through a personal (non-registered) account
• Wealthsimple Tax is an easy way to file your tax return online
• Wealthsimple Self-directed investing is a self-directed investment platform. You can buy and sell thousands of stocks and exchange-traded funds (ETFs) on major Canadian and U.S. exchanges. There are no trading commissions and no account minimums.

Get started with Wealthsimple Managed investing

Wealthsimple's managed accounts are designed to help you achieve financial freedom by giving you easy, low-cost and transparent financial tools.

Every time you open a managed account, we’ll help you choose the right portfolio for your investment goals. In the background, we take care of the hard stuff like asset allocation, automatic rebalancing and tax management.

Our managed accounts work based on the following principles -

1. Diversify your assets
2. Tune out the noise
3. Keep costs low

1. Diversify your assets

History shows that when you try to predict the future – by picking stocks, for example – rather than investing in a highly diversified way, you are more likely to underperform the market.

With our managed accounts, we don’t try to time or predict the market, but instead hold assets that will perform well at different times. This style of investing results in smoother, more attractive returns over time.

Wealthsimple’s portfolios are designed by an expert team of investors who make sure your portfolio will be resilient across market environments and cycles. We diversify our portfolios across asset classes and geography and have a bias towards higher quality, more resilient assets.

2. Tune out the noise

When you open a managed account, we’ll ask you about your investment experience, financial circumstances, what you're saving for, and when you need to access your funds.

This helps us customize your portfolio to your specific timeline and risk profile.

Our goal is to help you invest your funds in a way that maximizes your chances of making a positive return, while minimizing the chances that you’ll lose money by the time you need to access your funds.

This way, you can tune out the news headlines and weather any bad times knowing that you’ve taken on the right level of risk for your situation and have given yourself the right amount of time to bounce back from any losses.

3. Keep costs low

While most mutual funds in Canada charge more than 2% a year, our managed accounts charge between 0.4% - 0.5%. Over the course of many years, these fees can make a huge difference to your returns.

Wealthsimple's managed accounts are cheaper than mutual funds because we frequently use ETFs to track entire genres of investments. Unlike mutual funds, we aren’t trying to guess individual winners in the stock or bond markets and so our portfolio managers don’t need to make large numbers of trades – and trading is what costs money.

We’ll always choose the right ETF for you given your tax situation, any embedded capital gains you may have, and your account type.

We aim to optimize for withholding taxes within a fund and provide you with the lowest total cost of ownership. For example, we use certain ETFs traded on US exchanges for RRSPs, but use Canadian-listed ETFs for TFSAs.

We also negotiate on your behalf with ETF providers to reduce your management expense ratio fees (MER).

Wealthsimple offers Self-directed investing accounts that allow you to buy and sell thousands of stocks and exchange-traded funds (ETFs) on major Canadian and U.S. exchanges. There are no trading commissions and no account minimums.

Get started with self-directed investing

1. Download the Wealthsimple mobile app on the App Store or Google Play store
2. Set up your profile
3. Open an account
4. Make a deposit

Fees

The fee structure differs between Self-directed investing accounts and Crypto accounts. Learn more about fees for Self-directed investing accounts.

Will Wealthsimple offer me any advice on which assets to buy and sell?

Wealthsimple and Wealthsimple employees will not be able to offer Wealthsimple self-directed investing clients any advice or recommendations around which assets to buy and sell (or the timing of when to buy or sell them). Clients are responsible for their investment activities.

If you're looking to learn more about self-directed investing with Wealthsimple or have some general questions, you can reach out to our client support team for assistance. 

How does Wealthsimple protect my account?

We use state-of-the-art data encryption and two-factor authentication (2FA) to keep your accounts safe and secure.

Wealthsimple Self-directed Investing is offered by Wealthsimple Investments Inc. Wealthsimple Investments Inc. is a member of the Canadian Investment Regulatory Organization (CIRO). Customer accounts held at Wealthsimple are protected by Canadian Investor Protection Fund in the event Wealthsimple becomes insolvent.

Overview

To set up your Wealthsimple profile, you'll need to provide some basic information to verify your identity and ensure your profile is secure. You’ll only need to enter this information once — it will be used for all your Wealthsimple products.

Eligibility requirements

To open an account with Wealthsimple, you must meet the following requirements:

1. Live in Canada as a Canadian citizen or with a valid Canadian Visa
2. Meet the minimum age requirement for your province or territory
3. Have a valid Social Insurance Number (SIN)
4. Have a valid phone number
5. Meet identity verification requirements for non-registered accounts

Information required to fill out your profile

You’ll need a few key pieces of information on hand to fill out your profile:

• Full name
• Email
• SIN
• Date of birth
• Address (and potentially a previous address)
• Phone number
• Employment information

Set up your Wealthsimple profile

Follow these steps to set up your profile:

Once you’ve set up your profile, you can open your first Wealthsimple account.

Overview

Wealthsimple offers a range of accounts to help you grow your wealth. If you’re not sure which account is right for you, consider reaching out to our support team. They can connect you with our team of fiduciary advisors for help. 

Wealthsimple has registered and non-registered account options:

• Registered accounts are registered with the Canada Revenue Agency (CRA) using your Social Insurance Number (SIN) and often have tax benefits, although they also come with certain restrictions, like contribution limits.
• Non-registered accounts aren't registered with the government and have no contribution limits, penalties, or limits on how many you can open. However, you are taxed on every dollar you earn, including capital gains, interest, and dividends.  

You can open most of these accounts as self-directed or managed accounts:

• Self-directed accounts are accounts for trading stocks and crypto. You can choose the assets you’d like to invest in.
• Managed accounts use a pre-determined investing strategy based on your risk level and timeframe, automatically investing your funds in a portfolio that matches your investment goals.

Accounts offered by Wealthsimple

We offer the following account types at Wealthsimple:

Overview

You can withdraw money from the available balance in your Wealthsimple account at any time:

• Self-directed investing accounts: Your available balance includes unused cash from your deposits, dividends you've earned, and any settled proceeds from sold assets.
• Managed accounts: Your available balance includes 99.5% of the funds in your account. The remaining 0.5% is held for any funds needed for upcoming fees.

Make a withdrawal

If you're withdrawing from a non-registered account (including Crypto, Cash, and Business accounts), follow these steps.

If you're withdrawing from a registered account, review the article(s) below:

• Withdraw from your TFSA
• Withdraw from your FHSA
• Withdraw from your RRSP or spousal RRSP (including Home Buyers' Plan or Lifelong Learning Plan withdrawals)
• Withdraw from your RESP
• Withdraw from your RRIF
• Withdraw from your LIF

Withdrawal timelines

Managed account withdrawal process

Withdrawing funds from a managed account can take up to 4-6 business days to complete. Review the timeline below:

Days 1 to 3
We sell investments in your account to generate cash for your withdrawal. The value of your account may change as the value of your investments could increase or decrease before they're sold.

Days 4
We hold your funds for a 1 day settlement period. This is a requirement from the Canadian government and is a mandatory step for all financial institutions.

Days 5 to 6
We send the funds to your bank, and they deposit them into your bank account.

Overview

To deposit funds, you need to link a Canadian chequing or savings account. We use Flinks, Plaid, or Wealthica to securely request your online banking information. Or, you can choose a different funding method.

Link your bank account

Follow these steps to link your bank account:

Troubleshooting

• Try our troubleshooting tips for bank linking issues.
• If a linked bank account isn't working, try removing and relinking it.

Different funding methods

You can use alternative methods to fund your account:

• INTERAC® e-Transfer
• VISA or Mastercard debit
• Set up a direct deposit

These options are available if you don't want to use Flinks, Plaid, or Wealthica, or we don't support linking your bank yet.

Related articles:

• Make a deposit from a linked bank account
• Link a corporate bank account
• Upgrade to USD accounts
• Update your external bank account's nickname

Overview

You can send and receive money from anyone who also has a Cash account with Wealthsimple. Cash accounts come with a built in Wealthsimple Cash payment feature that allows you to effortlessly send and receive money.

Wealthsimple Cash vs INTERAC e-Transfer®

INTERAC e-Transfer transactions and Wealthsimple Cash transfers are two methods to send and receive money with others. Check out the features of each method below to compare them:

Send money to your friends

With your Cash account, you can send and receive money from others without paying any fees. 

To send money to friends, follow these steps:

1. Log in to your Wealthsimple mobile app
2. Tap the Home tab at the bottom of your screen
3. Tap your Cash account
4. Select Send from the options at the top of the account screen
5. Choose Wealthsimple Cash
6. Select a contact
7. Confirm with the recipient that you have their correct $handle
8. Enter an amount that you wish to send and tap Next
9. Add an emoticon or write a message
10. Swipe up to send to your contact

Any money you send will be auto-deposited into your receiver's Cash account. 

You can change the name recipients see when they receive money from you by following these steps. 

Sending limits

Your Cash account has daily, weekly, and monthly sending limits. We won't complete any transactions that go over your sending limit.

Remove a contact after sending them funds

It is not possible to remove a specific Wealthsimple Cash contact. To remove an INTERAC e-Transfer contact, follow these instructions.

Change your preferred name

To change your preferred name:

1. Tap the Profile icon in the top right corner
2. Tap the Settings (gear) icon
3. Select Personal information from the menu
4. Under Details, tap Preferred name
5. Enter your preferred name and tap Update to save your changes

Overview

Once you've linked your bank account, you can make a deposit in Canadian dollars from any chequing or savings account with a Canadian bank into Wealthsimple. If you've upgraded to USD accounts, you can also make a USD deposit into a self-directed account from a USD bank account.

You can also add funds to your Wealthsimple accounts by

• wire transfer,
• INTERAC e-Transfer®,
• moving funds from your Wealthsimple Cash account, or
• by connecting your Visa or Mastercard debit card.

Deposit limits

Review the maximum daily and transaction limits for Canadian Dollar (CAD) and United States Dollar (USD) deposits below. Deposit limits are shared across all of your Wealthsimple accounts.

CAD deposit limits

You can deposit

• up to $1,000,000 CAD daily
• up to $1,000,000 CAD per transaction

USD deposit limits

You can deposit

• up to $200,000 USD daily
• up to $200,000 USD per transaction

How to make a deposit

To make a deposit, follow the steps below:

When will my deposit be available?

Select an account type to learn when your deposit will be available:

• Managed investing
• Cash
• Self-directed investing
• Crypto

Managed investing

Deposits into managed investing accounts are automatically invested for you within 5 business days. It takes 5 business days for funds to clear before you can initiate a withdrawal or transfer the funds to other Wealthsimple accounts.

You'll know a deposit is complete when you see your funds in your available to withdraw balance. You can view your available to withdraw balance when you initiate a withdrawal. 

Cash

Instant deposits

Amounts deposited within your instant deposit limit are available for you to send, spend, and transfer immediately. Funds aren't available for withdrawals for 5 business days.

Standard deposits

If you go over your instant deposit limit, any deposit you make will be a standard deposit until your instant deposit limit resets. Your funds will be available in 5 business days.

Auto-deposits

Automatic, recurring deposits into your Wealthsimple account within your instant deposit limit are available to spend or send instantly. Amounts outside of this limit are available in 5 business days.

Self-directed investing

Instant deposits

Amounts deposited within your instant deposit limit are available for you to trade immediately. Funds won’t be available for internal transfers or withdrawals for 5 business days.

Standard deposits

If you go over your instant deposit limit, any deposit you make will be a standard deposit until your instant deposit limit resets. Your funds will be available in 5 business days. 

Auto deposits

Automatic, recurring deposits into your Wealthsimple account within your instant deposit limit are available to trade instantly. Amounts outside of this limit are available in 5 business days.

Crypto

Instant deposits

Amounts deposited within your instant deposit limit are available for you to trade immediately.

Standard deposits

If you go over your instant deposit limit, any deposit you make will be a standard deposit until your instant deposit limit resets. Your funds will be available in 5 business days.

Auto-deposits

Automatic, recurring deposits into your Wealthsimple account within your instant deposit limit are available to trade instantly. Amounts outside of this limit are available in 5 business days.

Overview

There are some coins or tokens you can trade through Wealthsimple but not deposit. If you send a coin or token that is available for trading, but not available for deposits, we may not be able to recover your deposit.

If you try to deposit a coin or token that is not supported, we'll automatically add the coin or token to your portfolio if the deposit functionality becomes available for that crypto coin. However, we can't guarantee whether specific coins or tokens will be available for wallet deposits in the future.

Wealthsimple is also only able to support deposits through certain networks. Currently, we only support wallet transfers for assets listed in the table below. Any funds sent using an incompatible network (i.e. any network not listed in the table, including the default network displayed when withdrawing from Binance, the Binance Smart Chain) are currently unretrievable. Please check whether you’re using the correct network for your deposit.

If you try to deposit coins or tokens that aren't supported by Wealthsimple, or if you try to deposit coins or tokens via an unsupported network, we're unable to assist you in retrieving these assets. Please make sure to read the instructions below before submitting your deposit to ensure you do not lose any assets. Wealthsimple is not legally obligated to recover improperly or mistakenly deposited assets.

Supported crypto when making a deposit

You can follow these steps to view the list of supported crypto you can deposit in the Wealthsimple app:

1. Sign in to the Wealthsimple app on your mobile device
2. Tap the Move tab
3. Tap Send or receive crypto
4. Tap Receive
5. Review the list of supported crypto

You can deposit any of the following crypto coins into your account from an external wallet:

• 0x (ZRX)
• 1inch (1INCH)
• Aave (AAVE)
• Algorand (ALGO)
• Ankr (ANKR)
• Avalanche (AVAX)
• Axie Infinity (AXS)
• ApeCoin (APE)
• API3 (API3)
• Balancer (BAL)
• Bancor (BNT)
• BandChain (BAND)
• Basic Attention Token (BAT)
• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Blur (BLUR)
• Cardano (ADA)
• Cartesi (CTSI)
• Celestia (TIA)
• Chainlink (LINK)
• Chiliz (CHZ)
• Chromia (CHR)
• Compound (COMP)
• Coti (COTI)
• Curve (CRV)
• Decentraland (MANA)
• Dogecoin (DOGE)
• Dogwifhat (WIF)
• Dydx (DYDX)
• Eigenlayer (EIGEN)
• EtherFi (ETHFI)
• Ethena (ENA)
• Ethereum mainnet (ETH)
• Fetch.ai (FET)
• Floki (FLOKI)
• Gala Games (GALA)
• Helium (HNT)
• Immutable X (IMX)
• Injective (INJ)
• Jupiter (JUP)
• Kyber Network v2 (KNC)
• Lido DAO (LDO)
• Litecoin (LTC)
• Loopring (LRC)
• Maker (MKR)
• Mog Coin (MOG)
• My Neighbor Alice (ALICE)
• Near (NEAR)
• Ondo Finance (ONDO)
• Pendle (PENDLE)
• Polkadot (DOT)
• Polygon (POL)
• Pyth Network (PYTH)
• Quant (QNT)
• Sei Network (SEI)
• Shiba Inu (SHIB)
• Skale (SKL)
• Solana (SOL)
• Sonic (S)
• Storj (STORJ)
• SushiSwap (SUSHI)
• Superverse (SUPER)
• Synthetix network token (SNX)
• Tezos (XTZ)
• The Graph (GRT)
• The Sandbox (SAND)
• Uma (UMA)
• Uniswap (UNI)
• USD Coin (USDC)
• Worldcoin (WLD)
• XRP Ledger (XRP)
• Yearn.finance (YFI)
• Yield Guild Games (YGG)

How to deposit crypto into your Wealthsimple account

Depositing crypto into your Wealthsimple account means that you’ll be moving coins or tokens into your Wealthsimple account from a wallet outside of Wealthsimple. The majority of steps you'll take will happen in the wallet from which you’re withdrawing funds.

During the withdrawal process, you’ll be asked to enter a deposit address. A deposit address is a unique string of letters and numbers that is used to send coins from your wallet to your Wealthsimple account.

Each type of crypto in your account has its own deposit address. You'll need to make sure that you choose the address that matches the type of crypto you’re transferring (Bitcoin or Ethereum mainnet, for example).

Please use only the address provided by Wealthsimple. Addresses obtained through other sources (such as Etherscan) may not correspond to your own Wealthsimple deposit address and may result in lost crypto assets. Deposits sent to the wrong address are irreversible. 

Find your deposit address

Follow the steps below to find your deposit address:

Transfer fees

Crypto networks charge a fee to process transactions (also known as a gas or miner fee). This fee can vary by hour, by day, and by transfer amounts. The external wallet will let you know how much you need to pay to complete the transfer.

Wealthsimple has no control over these fees, so you’ll need to check the details of the transaction using a block explorer link (like an Etherscan link) provided by the external wallet.

How long does it take to make a deposit?

Your transfer will go through a series of confirmations in the network before it’s considered complete. In your activity details, we’ll provide you with a link to track the progress of your transfer in real-time. Unfortunately, we have no control over the speed at which transfers are processed, however, you can find general estimates below –

You can currently buy or sell a variety of crypto coins using Wealthsimple.

For more information about each token, including definitions, background, and risk statements, take a look at the links below.

Overview

You can buy or sell stocks and ETFs in a self-directed investing account as long as they meet our eligibility criteria. The stock or ETF must meet the following criteria:

• The asset is on an exchange we support.
• The asset meets our settlement or average daily volume requirements.
• The asset isn't delisted, suspended, or halted.

Why isn't a stock or ETF available?

A stock or ETF might be unavailable for the following reasons:

We don't support the type of security

We only support stocks and ETFs in self-directed investing accounts. We don't support any other assets in self-directed investing accounts, including:

• Mutual Funds
• Preferred Shares
• Forwards & Futures
• Rights and Warrants
• Bonds
• Investment Savings Accounts & Money Markets
• Stocks & ETFs that trade on non-North American exchanges

This security isn’t listed on a supported exchange

The asset may be listed on an exchange we don't support. We currently support major exchanges, including:

• Toronto Stock Exchange (TSX)
• TSX Venture Exchange (TSXV)
• New York Stock Exchange (NYSE)
• NASDAQ
• NEO
• Canadian Securities Exchange (CSE)
• BATS Exchange

If the security you're looking for is listed on another exchange or is an unsupported over-the-counter (OTC) security, it may not be available.

If the security is listed on both a US exchange and a Canadian exchange, we will only support the security listed on the Canadian exchange.

This security may not meet our settlement or average daily trading volume requirements

The asset may not meet our settlement requirements with the Canadian Depository for Securities (CDS) or the Depository Trust Company (DTC). Additionally, we have minimum price and volume constraints for stocks.

The security is delisted, suspended, or halted

In most cases, you can’t submit orders for securities that are delisted or suspended. You can submit orders for securities that are halted, however, they won't be filled until trading resumes.

If you own a delisted stock or ETF within your self-directed investing account, you have the following options:

• Continue holding the shares in your account with the hope that the security eventually gets re-listed.
• Sell your shares by submitting a limit order for the security that has been delisted. Follow the steps in this article to learn how to place a limit order.
• Request to remove and write off the delisted security. Please contact our Client Support team to confirm if the security is eligible for the removal process. 

Request a new stock or ETF

If you'd like to request a stock or ETF that's not currently available, you can add it to our feedback survey. Requesting a stock or ETF doesn't guarantee it'll become available to trade.

Before you can start spending with your physical Wealthsimple Cash card, you'll need to activate it and add funds to your account. 

If you don't have a physical Wealthsimple Cash card yet, you can request one using the Wealthsimple app.

Activate your physical Wealthsimple Cash card

To activate your Wealthsimple Cash card directly from your app, follow these steps:

1. Log in to your Wealthsimple mobile app
2. From the Home tab, tap your Cash account
3. Tap the card icon at the top right of your screen and swipe to the left to navigate to your Physical card settings
4. Select Activate your card
5. Tap Get started
6. Enter in your card's Expiry date and CVV
7. Create a 4-digit PIN, confirm your PIN and then tap Set up your PIN
8. Your physical Wealthsimple card will then be activated

To activate your Wealthsimple Cash card over the phone, follow these steps: 

1. Call +1 877-868-0854 to activate your card and set your PIN
2. Add funds to your account if you haven't already
3. Sync your PIN by using your physical card in person

Overview

The Wealthsimple Cash card lets you spend funds from your Wealthsimple Cash account. It's a prepaid Mastercard, so you'll need to fund your account before making purchases. You can use it anywhere Mastercard is accepted.

To use your card at a terminal or ATM:

• To make a purchase, insert or tap your card at a terminal and select credit.
• To withdraw from an ATM, select chequing.

Fees for using the Wealthsimple Cash card

Wealthsimple doesn't charge fees for using the Cash card, including foreign transaction fees.

However, third parties might charge the following:

• Currency conversion rate: When you use your Cash card for international purchases, the payment network will determine the currency conversion rate. This rate may vary between the time of authorization and settlement. For an estimate, you can use this currency conversion fee calculator.
• ATM withdrawal fee: ATM providers might charge a withdrawal fee (usually about $3.00). This fee is charged by the ATM provider and not by Wealthsimple. You'll be reimbursed for eligible ATM transactions. Learn more about our ATM fee reimbursement policy.

Spending limits

Below are the spending limits associated with your Wealthsimple Cash card:

Switch which Cash account you can spend from

You can spend from any individual or joint Cash account by switching which account is spendable in the Wealthsimple mobile app. You can switch your spendable account once every 24 hours.

To switch which account is spendable:

1. Sign in to the Wealthsimple app on your mobile device
2. From the Home tab, tap any Cash account
3. Tap the Settings (gear) icon in the top-right corner
4. Under Settings, tap Spending
5. Choose which account you want to spend from
6. Tap Confirm to save your changes

Online purchase authentication

In some cases, we’ll ask you to verify your identity before completing an online purchase. When this happens, we’ll instruct you to enter a 6 digit secure code that you receive by email or mobile device.

If you receive an unexpected text or email

Check if you’ve shared your card number with someone who might be making an online purchase. If you haven’t shared your card number with anyone, you should:

1. Lock your card.
2. Contact our support team to request a new Cash card. We’ll also give you a new virtual card number.

Refunds

Merchants process refunds, not Wealthsimple. After the merchant confirms your refund, it usually takes 5-7 business days to appear in your Cash account. Wealthsimple can't provide updates on pending refunds, but the funds will be available as soon as we receive them.

Frequently asked questions

Overview

You automatically receive a 1% cash back reward on all eligible purchases with your Wealthsimple Cash card. You can choose to receive cash back in one of the following account types:

• Cash
• Self-directed investing
• Managed investing
• Crypto

Until you change which account receives cash back payouts, you'll receive them in your spendable Cash account.

Cash back payout schedule

You'll receive your payout within 7 business days of the 1st of the following month. Keep in mind that you'll only receive cash back for settled transactions.

Change which account receives cash back payouts

Follow these steps to change which account receives cash back payouts:

1. Sign in to the Wealthsimple app on your mobile device
2. Tap your spendable Cash account
3. Tap Spend rewards underneath your account balance
4. Tap Manage rewards
5. Choose the destination account for your cash back reward
6. Tap Next
7. You'll receive cash back in the chosen account

View your earned cash back

You can view your earned cash back directly from your mobile app.

1. Log in to your Wealthsimple mobile app
2. Tap the Activity tab at the bottom of the screen
3. Scroll down to view your spending activity
4. Tap on a purchase to see its details
5. At the bottom of the transaction, you'll see the note Spend reward with the amount of cash back earned from the purchase

Frequently asked questions

Terms and conditions

1% cash back

The Wealthsimple Cash 1% cash back promotional offer (the "Offer") is valid for new and existing users of the Wealthsimple Cash Mastercard Prepaid Card (Cash card) ("Cash card"). The 1% earn rate, which may be subject to change, applies to all transactions, less refunds and excluding cash-like transactions, any applicable fees and adjustments ("Qualified Spend").

Cash back credits are earned on net purchases only and pay out will occur within 7 business days of the 1st of the following month after the Qualified Spend transaction.

You can also choose to earn stock and Crypto rewards back.

Wealthsimple Payments Inc. ("Wealthsimple") reserves the right to amend, withdraw or restrict the Offer at any time without notice. Wealthsimple is the sole arbiter of these rules, the calculation of Qualifying Spend, and any other issue arising in connection with the Offer. If Wealthsimple suspects fraudulent or abusive behaviour, gaming of the system or a violation of these terms, Wealthsimple reserves the right to remove all promotions from the applicable Wealthsimple Cash account and take any other action it deems appropriate including, but not limited to, closing the applicable Wealthsimple Cash account. An invitation to participate in this Offer does not provide assurance that the referred customer will be accepted as a customer of Wealthsimple. This offer is only valid for individuals in Canada that otherwise meet Wealthsimple's eligibility requirements. Wealthsimple's standard terms (https://www.wealthsimple.com/en-ca/legal/terms) relating to your use of Wealthsimple and any agreements that apply to the Wealthsimple Cash account each apply and are not affected in any way by this Offer.

Wealthsimple Cash

Our Cash product is offered by Wealthsimple Investments Inc. ("WSII"), a member of the the Canadian Investment Regulatory Organization ("CIRO"), and Wealthsimple Payments Inc., a FINTRAC registered money services business. The funds added to Cash account(s) (the "Funds") are ultimately held securely in trust in the name of the primary account holder with a single or multiple members of the Canada Deposit Insurance Corporation ("CDIC"). CDIC protects eligible deposits held at CDIC member institutions in case of a member institution's failure. Wealthsimple Payments Inc. and WSII are not CDIC member institutions. Under the trust framework, CDIC insures eligible cash balances up to $100,000 per beneficiary, per member institution, provided certain disclosure rules are met. Coverage is free and automatic. Learn more about how CDIC protection works. Funds must be spread across at least 10 CDIC member institutions in order for up to $1,000,000 in deposits to benefit from applicable CDIC coverage. The advertised interest rate for the Cash Account is derived from interest earned by Wealthsimple on the funds. The rates are annualized rates, calculated daily, and paid monthly. Subject to change. For more information see here. The Funds are settled with any CDIC member(s) one business day following the date that Funds are reflected in the Account.

The Wealthsimple Mastercard® Prepaid card is issued by KOHO Financial Inc. pursuant to license by Mastercard International Incorporated. All terms applicable to the Cash Card and all applicable fees and transaction limits with respect to the Cash Card and the services may be found in the Wealthsimple Cash Mastercard® Prepaid Card Cardholder Agreement between you and KOHO Financial Inc. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

This guide helps you get ready for the 2024 tax season. Here's what you need to know:

• Tax slip availability and timing
• Automatic tax information import
• Registered account contributions
• Reporting investment gains or losses
• Provincial and territorial resources
• Start your journey with confidence

Tax slip timing

Common tax slips and their release dates:

• T3/RL-16: By March 31, 2025
• T4/RL-1: By February 28, 2025
• T4A/RL-2: By February 28, 2025
• T5/RL-3: By February 28, 2025
• T5007/RL-5: By February 28, 2025
• T5008/RL-18: By February 28, 2025

Québec residents receive both T and RL slips.

Automatic tax information import

Save time by importing information from:

• CRA Auto-fill
• Revenu Québec (for Québec residents)

Registered account contributions

Report contributions for:

Registered Retirement Savings Plan (RRSP)

Report RRSP contributions to potentially lower your taxable income.

You may receive two contribution receipts:

1. For March-December of the tax year
2. For January-March of the following year

Report contributions made in the first 60 days of the current year on the previous year's tax return. You can claim these on the previous year's return or carry them forward to the current year.

Learn about RRSP contributions

Use our RRSP calculator

Remember to report:

• Lifelong Learning Plan payments
• Home Buyer's Plan payments

Learn how to carry forward RRSP contributions

Note: For Spousal RRSPs, the contributor claims the contributions.

First Home Savings Account (FHSA)

Report FHSA contributions to potentially lower your taxable income. You can claim contributions as a deduction or carry them forward.

Tax-Free Savings Account (TFSA)

TFSA contributions are not reported on your tax return. Your financial institution reports to the CRA or Revenu Québec annually.

Learn about TFSA contributions

Reporting investment activity

For non-registered accounts, report your gains, losses, and other income earned. Non-registered accounts include:

• Personal accounts
• Joint accounts
• Save or Joint Save accounts
• Crypto accounts
• Save for business accounts
• Invest for business accounts

Download your tax slips from Wealthsimple

Capital gains

When you sell a security for profit:

• 50% of realized capital gains are taxed at your marginal tax rate
• You'll receive a T5008/RL-18 to report capital gains
• Report your ACB (adjusted cost base) using T5008 information

Investment income

Report interest earned or dividends received in non-registered accounts:

• Over $50: You'll receive a T5 (and RL-3 in Québec)
• Under $50: No slip issued, but you still need to report it on your return

Crypto gains and losses

Learn how to report cryptocurrency activity
Understand cryptocurrency gains and losses reporting

Provincial and territorial resources

We have collected information specific to each province or territory below:

Start your tax journey with confidence

Wealthsimple Tax is here to simplify your tax filing experience. Our user-friendly platform and automatic import features save you time and help maximize your refund.

Ready to take control of your taxes?

• Get started with Wealthsimple Tax and file with ease
• Explore our comprehensive tax help centre articles for in-depth information
• Book a session with our tax experts for personalized advice

Remember, our support team is always here to help you navigate your tax journey. Let's make this tax season your best one yet!

Email, phone number, address, and employment information

You can update or change your email, phone number, mailing or residential address, and employment information directly through your profile. To do so, follow the steps below:

Legal name, date of birth, tax residency, and Social Insurance Number (SIN)

Depending on what type of account you have open under your Wealthsimple profile, you may need to contact our support team to update your personal identifying information:

• If you have at least one Self-directed investing account open
  You can update your personal identifying information through the Wealthsimple app. You must use the most recent version of the app. Follow these steps to update your information.
• If you only have a Managed investing account open
  You must contact our support team to update your personal identifying information.

Update your personal identifying information through the app

To update your name, date of birth, tax residency, or SIN through your profile, follow the steps below:

1. Sign in to the Wealthsimple app on your mobile device
2. Tap the Profile icon in the top right corner
3. Tap the Settings (gear) icon in the top right corner
4. Choose Personal information from the menu
5. Tap Identity information at the top of the screen
6. Tap Edit at the bottom of the screen
7. Edit all field(s) that need updating
8. Tap Save changes
9. Follow the prompts to upload the necessary supporting documents
10. Our team will then begin reviewing the updates

Update review process

We'll notify you via email and push notification (if enabled) when we've reviewed the update.

If we accept the update, you'll receive a prompt to sign your updated agreements in the Wealthsimple app to complete the change. This process can take up to 5 business days. 

If we reject the update for any reason, we’ll let you know why. You can follow the steps above to redo the process with the necessary changes.

Sign your updated agreements

Follow the steps below to sign your new agreements:

1. Sign in to the Wealthsimple app on your mobile device
2. Tap the Profile icon in the top right corner
3. Tap the Settings (gear) icon in the top right corner
4. Choose Personal information from the menu
5. Tap Identity information at the top of the screen
6. Select the yellow banner at the top of the screen that reads “We reviewed the changes you made on YYYY/MM/DD. To finish updating your profile, sign new agreements”

Citizenship and U.S. person status

In order to update your citizenship or U.S. person status, follow these instructions:

1. Sign in to the Wealthsimple app on your mobile device
2. Tap the Profile icon in the top right corner
3. Tap the Settings (gear) icon in the top right corner
4. Select Personal information from the menu
5. Tap Identity information
6. Tap Edit at the bottom of your screen
7. Scroll down and you can update your information here

Preferred name

You can update your preferred name by following the steps below: 

1. Sign in to the Wealthsimple app on your mobile device
2. Tap the Profile icon in the top right corner
3. Tap the Settings (gear) icon in the top right corner
4. Select Personal information
5. Select Preferred name
6. Input preferred name
7. Tap Update to save your changes

Gender

To update your gender, follow the instructions below:

1. Sign in to the Wealthsimple app on your mobile device
2. Tap the Profile icon in the top right corner
3. Tap the Settings (gear) icon in the top right corner
4. Tap Personal information
5. Select Gender
6. Here, you can select the gender that best describes you
7. Tap Update

Language settings

Follow these steps to change your language settings:

Overview

In this article, you will find all the deadlines for the upcoming 2024 tax season. You can also find out when to expect each tax document.

Details to keep in mind

• You can transfer funds within the instant deposit limit of any Cash account to another Wealthsimple account immediately. 
• Deposits must be received with the status marked as 'completed' in the account before the deadline for the transaction to count toward your 2024 contributions.
• INTERAC e-Transfer® must be received with the status marked as 'completed' in the destination account before the deadline for the transaction to count toward your 2024 contributions.
• Rejected deposits will not count toward your 2024 contributions.
  • To ensure your deposit does not get rejected, make sure you have enough funds in your bank account to cover the total of your deposit before you submit it.
• If you make a transaction after a deadline has passed, we can't guarantee the transaction will count towards your 2024 contributions.

Important deadlines for the 2024 tax season

Use the deadlines below to make sure your transaction processes in time to meet Canada Revenue Agency deadlines:

When to expect each tax slip for the 2024 tax season