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 Stocks, ETFs & Crypto 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 Stocks, ETFs & Crypto is a self-directed investment platform with two different kinds of accounts - trading accounts and Crypto accounts.

• Trading accounts allow you to use our 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.
• Crypto accounts are a simple and secure way to buy and sell cryptocurrencies through a personal (non-registered) account

Get started with Wealthsimple Stocks, ETFs & Crypto

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 standard trading accounts and Crypto accounts. Click below to read more about fees for each account type —

• Fees associated with trading accounts
• Fees associated with Crypto accounts

What’s the difference between Wealthsimple Stocks, ETFs & Crypto and other Wealthsimple products?

• Wealthsimple Managed Investing is an automated investing service that manages your investments for you using a personalized portfolio of low-fee exchange-traded funds
• Wealthsimple Cash is a peer-to-peer payment platform for instantly sending money to friends and family
• Wealthsimple Tax is an easy way to file your tax return online

Will Wealthsimple Stocks, ETFs & Crypto offer me any advice on which assets to buy & sell?

Wealthsimple and Wealthsimple employees will not be able to offer Wealthsimple Stocks, ETFs & Crypto clients any advice or recommendations around which assets to buy and sell (or the timing of when to buy or sell them). Wealthsimple Stocks, ETFs & Crypto is an entirely self-directed platform, so clients are responsible for their investment activities.

If you're looking to learn more about the Stocks, ETFs & Crypto platform or have some general questions, you can reach out to our 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 Stocks, ETFs & Crypto 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 CIPF in the event Wealthsimple becomes insolvent.

If this is your first time using Wealthsimple, you’ll need to set up your profile before you can open an account. We’ll ask you for some details so we can verify your identity and ensure your account is secure. You’ll only need to enter this information once — it will be used for all your Wealthsimple products.

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

• Be a Canadian citizen, Canadian resident, or have a valid Canadian visa
• Meet the minimum age requirement set by your province
• Have a Social Insurance Number (SIN)
• Have a Canadian residential address
• Be able to satisfy identity verification requirements

Set up your profile

To create your profile, visit our sign up page.

1. Choose an email address and password
2. Select the product you’d like to start with
3. Follow the prompts to fill out your personal information

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

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. 

Accounts offered by Wealthsimple

Non-registered

A non-registered account (or joint account) has no deposit limits or withdrawal restrictions. All the interest, dividends, and capital gains that you earn in a non-registered account will have an impact on your tax reporting.

People often use this type of account once they have hit their contribution limit in their RRSPs and or TFSAs.

When you open a non-registered account, we have to take a few extra steps to verify your identity as these accounts are not registered with the Canada Revenue Agency (CRA). We perform this extra step of verification to protect our clients' identities and for anti-money laundering (AML) purposes.

Learn more about opening a non-registered account.

Tax-Free Savings Account (TFSA)

The tax-free savings account (TFSA) is designed to help you save and invest money without paying tax on the gains.

Although it is called a ‘savings’ account, a better name for it would be an ‘investment’ account since you can invest money in all kinds of investment products from within a TFSA. 

There is a limited amount you’re allowed to contribute to a TFSA each year.

Learn more about opening a TFSA.

Registered Retirement Savings Plan (RRSP)

A registered retirement savings plan (RRSP) account is designed to help Canadians save for retirement.

The money you contribute to your RRSP is tax-deductible. This means you can subtract the amount you contribute from your income and pay less in income taxes.

Besides saving for retirement, you can also use funds from your RRSP to buy a home or even fund your education. When you open an RRSP in a managed account, we’ll automatically invest your funds for you based on your risk profile.

Learn more about opening a RRSP.

Spousal RRSP

A spousal registered retirement savings plan (Spousal RRSP) is an RRSP that can help lighten the tax load for couples with a big income disparity.

It helps you pool your retirement savings so that the higher-income earner doesn’t have a large pile of retirement savings in their RRSP while the lower-income earner has a small pile.

Your individual contribution limit remains the same whether you have an RRSP, a Spousal RRSP, or both.

Learn more about opening a Spousal RRSP.

First Home Savings Account (FHSA)

An FHSA is a Tax-Free First Home Savings Account, designed to help Canadians save for their first home purchase.

Like RRSPs, the contributions to this account type are tax-deductible. However, unlike an RRSP, when you withdraw funds under the Home Buyer’s Plan in an RRSP, you do not have to pay back the funds you withdraw within a certain period. 

Learn more about opening an FHSA.

Registered Retirement Income Fund (RRIF)

A Registered Retirement Income Fund (RRIF) is a registered account that holds income that you'll use when you've reached retirement. It’s essentially a basket of investments that earns money during your retirement.

RRIFs typically start out as RRSPs. Note, that you must convert your RRSP to an RRIF by the time you turn 71.

Learn more about opening a RRIF.

Locked-in Retirement Account (LIRA)

If you have a pension from a former employer but are not retired, you’ll need a LIRA (or an LRSP). You can't contribute to a LIRA, but you can take advantage of Wealthsimple's investment strategy for the funds in your account.

You must convert your LIRA to a Life Income Fund (LIF) by the time you turn 71.

Crypto

Crypto accounts are a simple and secure way to buy and sell cryptocurrencies through a non-registered account.

Learn more about opening a Crypto account. 

Registered Education Savings Plan (RESP)

A Registered Education Savings Plan lets you put money aside for a child's education. Contributing $2,500 per year will get you the full Canada Education Savings Grant (CESG). The CESG matches 20% of your contributions to an RESP up to a maximum of $500 per year. There are additional grants available for low to moderate income families and residents of certain provinces.

Learn more about opening a RESP.

Save or Joint Save

Wealthsimple Save is a savings account. It currently pays 1.5% interest. A Joint Save account is the same as a Save account, except that multiple people can contribute and withdraw from the account.

A Save account is a good choice when you need to access your funds quickly. People often use it to save for a near-term purchase, or to build an emergency fund. A Save account is a non-registered account, so you’ll need to report the interest you earn each year in your tax filing.

Learn more about opening a Save or Joint Save account.

Cash

You can pay for things using the Wealthsimple Cash card and send and receive money from friends in the Cash app. Some other features include -

• At least 4% interest on the balance held in your Cash account
• Spend money using the Wealthsimple Cash Card and earn 1% cashback on qualifying transactions
• Send and receive money from friends using a Cash handle or phone number
• Request money from friends
• Split a bill with your friends

Learn more about opening a Cash account.

Business

You can open a Save account or a non-registered investment account under your business’s name.

Learn more about opening a Business account.

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

Send money to your friends

When sending funds to your friends through Cash, you will be given the option to send from your bank or your wallet.

• Bank: Funds are taken directly from your bank account. You can send up to $250 to friends through this method.
• Wallet: Funds are taken from your available funds in your Cash account. The amount you send is limited to the balance available in your Cash account.

To send money to friends, follow these steps —

Any money you send will be auto-deposited into your receiver's Cash account. If your receiver does not have the Wealthsimple app, we'll prompt them to download it to claim their funds.

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 contact from your Wealthsimple app home screen.

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

Before you begin

If you're looking to make a withdrawal from a TFSA, RESP or another retirement account, it's a good idea to check how your taxes or contribution room will be affected:

• Withdraw from your TFSA
• 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

Make a withdrawal

The details

• Crypto accounts have a $25,000 daily withdrawal limit when withdrawing funds. There are no other limits to the amount or frequency that you are able to withdraw once your funds have cleared the five business day settlement period. 
• If you upgrade to USD accounts and want to withdraw funds from a USD account, you can convert your cash to CAD and withdraw it to your connected bank account. Alternatively, you can withdraw funds you hold in a self-directed trading account to a linked U.S. dollar bank account. 
• Making a withdrawal from a managed account is considered a taxable event since we need to sell investments to generate a cash balance for the amount you'd like to withdraw.
• When assets are sold in a USD account and the cash is immediately converted into CAD, the funds may be subject to a 4 business day settlement period to reduce the risk of fraud and/or delinquent accounts. This is due to the small delay in posting the transaction to the official ledger which usually takes about 1 hour. Conversions made after this process should only face a 2 business day settlement period.

How long does it take to make a withdrawal?

*Some withdrawals may take up to five business days in stock and crypto trading accounts.

You’ll need to link a chequing or savings bank account before you can make a deposit into your account. To do this, we'll use one of our trusted partners, Flinks or Plaid to securely request your online banking information.

Link your bank account

When linking your bank account, we will ask you to sign in to your bank via one of our trusted partners, Flinks or Plaid. Flinks and Plaid are both secure services that verify your bank account information. 

If you do not see your institution when attempting to link your bank account, it may not be supported by Flinx or Plaid. Instead, consider using a different method to fund your account.

If you do not want to link your bank account through Flinks or Plaid, you can use a different method to fund your account. Other funding methods include:

• Fund your account instantly with INTERAC e-transfer
• Fund your account instantly with a VISA or Mastercard debit
• Set up a direct deposit

Link a corporate account

If you have opened a Business account with Wealthsimple, you must also manually link a corporate bank account to fund your Business account. You will need the following information before you can manually link your account:

• Institution Number (3 digits)
• Transit Number (5 digits)
• Account Number (7-11 digits)

You’ll also need to upload a specific digital bank document with your corporation's name, full account number, and institution logo. We’ll ask you to upload a document based on your bank. We are unable to accept any other document than the one requested. 

How to link a USD Bank Account

• USD bank accounts can only be linked with an active ‘USD Account’ subscription.

  • “Premium/Generation clients can opt-in and upgrade to ‘USD Account’ for free.” See Upgrade to USD accounts

• USD bank accounts can only be linked via one of our trusted partners, Flinks or Plaid. Flinks and Plaid are both secure services that verify your bank account information.” This is also mentioned in Add or remove a bank account

• These deposits must come from a Canadian financial institution. We do not support connecting U.S. dollar accounts from US financial institutions.” From Using USD accounts

Remove a bank account

You can remove a bank account from your profile by following the steps below —

Related articles

• Fund your account instantly with INTERAC e-transfer
• Fund your account instantly with a VISA or Mastercard debit

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.

• How to make a deposit 
• Deposits into stock and crypto trading accounts
• Deposits into managed accounts

How to make a deposit

To make a deposit, follow the steps below:

Deposits into stock and crypto trading accounts

Deposit limits in trading accounts

Depending on how much you deposit into your stock or crypto trading account, some funds might be available instantly, while the rest might take between 3–5 business days before you can begin trading.

Instant deposits
Amounts deposited within your instant deposit limit are available for you to trade immediately. Your instant deposit limit resets once every 3 business days and you can deposit your entire limit all at once, or spread it out across multiple deposits. 

If you make a single deposit to a stock or crypto trading account that is greater than your instant deposit limit, the portion of your deposit that falls within your limit will be available to trade immediately. The remaining amount of your deposit will be available within 3-5 business days. 

Find your unique instant deposit limit for your trading and crypto accounts
Your unique instant deposit limit will be visible to you in your Wealthsimple app. To find your instant deposit limit, follow these steps :

1. Log in to your Wealthsimple mobile app
2. Tap the Move tab  at the bottom of the screen
3. Choose Deposit
4. Choose Add funds
5. Choose a stock or crypto trading account and tap Next
6. Under Deposit from, you will see your linked accounts. Underneath each of them will be the amount that you are eligible to deposit instantly

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. Standard deposits follow the following timelines:

For example, let's say you deposit less than $5,000 in non-instant funds on Monday. In this case, you can trade with those funds on Thursday and withdraw them on Monday. Otherwise, if you deposit an amount equal to or more than $5,000, you'll only be able to trade or withdraw them on the next Monday.

Auto-deposits
Auto deposits always take 3-5 business days (from the auto-deposit date) before being available to trade. Auto-deposits will not be available instantly, and do not count towards your instant deposit limit. 

More information about deposits in trading accounts

You’ll know a deposit is complete when you see the funds added to your available to withdraw balance. In your bank account, you should see the funds deducted by WSII, which is Wealthsimple’s brokerage.

The following limits apply to deposits made to your self-directed stock trading accounts:

• Limit per transaction: $250,000 CAD
• Daily limit: $250,000 CAD

There are no deposit limits for your crypto trading account, however, there is an annual net purchase limit for certain coins and tokens.

More details

• If there aren't enough funds in your bank account to cover your deposit, we may need to retract the funds you requested or sell some of your most recently purchased securities if you already invested the funds. This may result in a negative balance.
• If any of your accounts have a negative balance, you won’t be able to use instant deposits until the balance is positive again.

Deposits into managed accounts

When you deposit funds into a managed (Invest) account, your funds will automatically be invested for you within 3 business days.

You'll know a deposit is complete when you see your funds in your available-to-withdraw balance. In your bank account, you should see the funds deducted by WSII, which is Wealthsimple’s brokerage.

The following limits apply to deposits made to your managed (Invest) accounts:

• Limit per transaction: $1 million CAD
• Daily limit: $1.5 million CAD

Deposits into Cash accounts

Deposit limits in Cash accounts

Depending on how much you deposit into your Cash account, some funds might be available instantly, while the rest might take 5 business days before you can send & spend them.

Instant deposits
Amounts deposited within your instant deposit limit are available for you to send & spend immediately. Your instant deposit limit resets once every 3 business days and you can deposit your entire limit all at once, or spread it out across multiple deposits. 

If you make a single deposit to a Cash account that is greater than your instant deposit limit, the portion of your deposit that falls within your limit will be available to send & spend immediately. The remaining amount of your deposit will be available within 5 business days. 

Find your unique instant deposit limit for your Cash account
Your unique instant deposit limit will be visible to you in your Wealthsimple app. To find your instant deposit limit, follow these steps :

1. Log in to your Wealthsimple mobile app
2. Tap the Move tab  at the bottom of the screen
3. Choose Deposit
4. Choose Add funds
5. Choose your Cash account and tap Next
6. Under Deposit from, you will see your linked accounts. Underneath each of them will be the amount that you are eligible to deposit instantly

Standard deposits

Refer to the table below to understand when you can use your funds for all deposits:

Auto-deposits
Auto deposits always take 5 business days (from the auto-deposit date) before being available to send or spend. Auto-deposits will not be available instantly, and do not count towards your instant deposit limit. 

More information about deposits in Cash accounts

You'll know a deposit has cleared when you see funds deducted by Wealthsimple Payments Inc. in your bank account.

The following limits apply to deposits made to your Cash account:

• Limit per transaction: $1 million CAD
• Daily limit: $1.5 million CAD

More details

• If there aren't enough funds in your bank account to cover your deposit, we may need to retract the funds you requested if you already sent or spent the funds. This may result in a negative balance.
• If any of your accounts have a negative balance, you won’t be able to use instant deposits until the balance is positive again.

Before you begin

Supported crypto when making a deposit

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

• 0x (ZRX)
• 1inch (1INCH)
• Aave (AAVE)
• Ankr (ANKR)
• Avalanche (AVAX)
• Axie Infinity (AXS)
• ApeCoin (APE)
• Balancer (BAL)
• Bancor (BNT)
• BandChain (BAND)
• Basic Attention Token (BAT)
• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Cardano (ADA)
• Cartesi (CTSI)
• Chainlink (LINK)
• Chiliz (CHZ)
• Chromia (CHR)
• Compound (COMP)
• Coti (COTI)
• Curve (CRV)
• Dai (DAI)
• Decentraland (MANA)
• Dogecoin (DOGE)
• Dydx (DYDX)
• Enjin (ENJ)
• Ethereum (ETH)
• Fantom (FTM)
• Gala Games (GALA)
• Kyber Network v2 (KNC)
• Litecoin (LTC)
• Loopring (LRC)
• Maker (MKR)
• Pax Gold (PAXG)
• Polygon (MATIC)
• Quant (QNT)
• Ren (REN)
• Shiba Inu (SHIB)
• Skale (SKL)
• Solana (SOL)
• Storj (STORJ)
• SushiSwap (SUSHI)
• Synthetix network token (SNX)
• The Graph (GRT)
• The Sandbox (SAND)
• Uma (UMA)
• Uniswap (UNI)
• USD Coin (USDC)
• XRP Ledger (XRP)
• Yearn.finance (YFI)

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, for example).

Please use only the address provided in the Wealthsimple app. 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

Please note crypto deposits are currently only available using the Wealthsimple app.

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 –

Learn about Crypto Staking

Check out our Crypto Staking 101 course! Get some deeper learning into a complex topic. Let us know how we can make staking better by using this survey to provide feedback.

You can currently buy or sell 66 different crypto coins using Wealthsimple.

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

Learn about Crypto Staking

Check out our Crypto Staking 101 course! Get some deeper learning into a complex topic. Let us know how we can make staking better by using this survey to provide feedback.

You can buy or sell stocks, ETFs and select cryptocurrencies in a self-directed trading account as long as they meet our eligibility criteria.

Search for a stock or ETF

To search for a specific stock or ETF, follow the instructions below:

Eligibility criteria

A stock or ETF must meet our eligibility criteria to become available for trading.

When you search for an asset that is unavailable to trade, you'll see a brief message explaining why. Some of the reasons are as follows –

The security type is not supported
We only support stocks and ETFs in self-directed trading accounts. We don't support any other assets in self-directed trading accounts, including:

• Mutual Funds
• Preferred Shares
• Securities that trade Over-the-counter (OTC)
• 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
You can trade stocks and ETFs on the following exchanges:

• 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 traded over-the-counter (OTC) you will not be able to purchase it. 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
We only allow securities to be traded that settle with the Canadian Depository for Securities (CDS). We also impose minimum price and volume constraints for stocks traded on the platform.

The security is delisted, suspended, or halted
In most cases, orders can’t be submitted for securities that are delisted or suspended. Orders can be submitted for securities that are halted, however, they will not fill until trading resumes.

If you own a delisted stock or ETF within your self-directed trading account, you have the following two 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.

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. Tap the Home tab  at the bottom of your screen
3. Tap your Cash account
4. Select Activate your physical card and then Get started
5. Enter in your card's Expiry date and CVV
6. Create a 4-digit PIN, confirm your PIN and then tap Set up your PIN 
7. 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

The Wealthsimple Cash card is a prepaid Mastercard that allows you to spend funds directly from your spending (Cash) account. The Wealthsimple Cash card uses the Mastercard payments system, so you can use your card anywhere that accepts Mastercard.

Fees for using the Wealthsimple Cash card

Wealthsimple does not charge any fees for using the Wealthsimple Cash card. However, the following might be charged by a third party if you take the corresponding action with your Wealthsimple Cash card:

• Currency conversion rate: The payment network will determine the applicable conversion rate from the range of rates available in wholesale currency markets for the applicable processing date, which may vary from the rate the payment network itself receives.
• ATM withdrawal fee: You will see a standard ATM withdrawal fee (usually about $3.00) when you make a withdrawal at an ATM.

You can review your cardholder agreements on the Wealthsimple Cash app, by tapping onto the Profile icon at the top-right corner, then Settings, and press on Agreements.

Spending limits

In order to use your Wealthsimple Cash card, you must first fund your account. You will then have a spending balance that will be visible to you at the top center of your Wealthsimple Cash app home page screen.

Below, you can see the different limits associated with your Wealthsimple Cash card —

Tap limits vary and are determined by the merchant. Limits are subject to change.

Refunds

Refunds are processed by merchants (not by Wealthsimple). Once the merchant has confirmed they have issued a refund, it will usually appear in your spending (Cash) account within 5-7 business days.

As we are not able to see the refund status on our end, we are unable to provide an update on the status of a pending refund. However, as soon as we receive funds for a refund, they are immediately available in your account.

When you use your Wealthsimple Cash card, you will automatically receive 1% cash back on all eligible purchases.

You can also choose to earn stock or crypto back instead. With crypto back, you can opt to have cash back rewards auto-invested in the cryptocurrency of your choice. 

If you choose to auto-invest your rewards, you are instructing Wealthsimple Digital Assets Inc. (“WDA”) to automatically treat each earned reward as an order to buy the selected cryptocurrency at the market price, including Wealthsimple Crypto’s fee, in the amount of the cash reward proceeds. 

Earn stock or crypto back

Instead of earning cash back to your Cash account, you can choose one of the following options:

• Add the rewards to the cash balance of your stock trading account 
• Add the rewards to the cash balance of your crypto trading account
• Add the rewards to the cash balance of your managed account
• Auto-purchase the cryptocurrency of your choice in your crypto trading account

Choose your reward destination 

To make your rewards go to your managed or stock trading account, follow these steps: 

1. Sign in to the Wealthsimple app on your mobile device
2. Tap the Home tab at the bottom of your screen
3. Select your Cash account
4. Select Spend rewards underneath your account balance
5. Tap Manage rewards
6. Choose the account you wish your rewards to go to (if applicable)
7. Your cashback will now be added to your account

Some things to keep in mind

Cash back rewards can take up to 7 business days to settle in a crypto trading account, however they will normally appear after 1 business day. 

During this time, you’ll see the status as Pending within your transaction details. Once the funds have settled, the crypto order will begin to process. At this point, the status will show Settled. Once your rewards have settled, it will normally take 2 business days for your order to complete.

Your app will send a push notification once the buy has occurred, and the status of the transaction will update to say Complete.

Learn more about the Wealthsimple Cash card here. 

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 and rewards
4. Under a transaction that earned cash back, you will see the note Cash back earned
5. Tap on the transaction and you will see its details, including the amount you received in cash back

Terms and conditions

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 after the Qualified Spend transaction.

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

Wealthsimple Crypto clients may be eligible to select auto-buy to manage their rewards. With auto-buy You are instructing Wealthsimple Digital Assets Inc. (“WDA”) to automatically treat each earned reward as an order to buy the selected cryptocurrency at the market price, including Wealthsimple Crypto’s 1.5% fee, in the amount of the cash reward proceeds.

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.

The Wealthsimple Prepaid Mastercard is issued by KOHO Financial Inc. pursuant to license by Mastercard International. 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 Prepaid Mastercard® Cardholder Agreement between you and KOHO Financial Inc.

Our Cash product is offered by Wealthsimple Investments Inc. (“WSII”), a member of the Investment Industry Regulatory Organization of Canada, and Wealthsimple Payments Inc., a FINTRAC registered money services business. The funds you add to a Cash account (the “Funds”) are ultimately held securely in trust 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 may be spread across multiple different CDIC members in order to extend the CDIC coverage to up to $300,000 in eligible deposits. The advertised interest rate for the Cash Account is derived from interest earned by Wealthsimple on the funds. The Funds are settled with any CDIC member(s) one business day following the date that Funds are reflected in the Account.

This guide is designed to help you get ready to file your 2022 taxes. Below, you’ll find the most important information you need to know heading into tax season.

• Available tax slips and when to expect them
• Automatically import your tax information
• Contributions to registered accounts
• Reporting gains or losses from trading and investment activity
• Resources by province or territory

Available tax slips and when to expect them

Tax slips are released at different times during the first few months of the year. You can read about when to expect your tax slips from Wealthsimple or what tax slips to expect for each account type. 

Common tax slips that most people need are listed below:

Downloading your tax slips from Wealthsimple

Follow the links below to download your tax slips from Wealthsimple. 

• Get your tax slips for your managed investing & Save accounts
• Get your tax slips for your self-directed trading accounts

Automatically import your tax information

When starting your tax return, you can save time by automatically importing your tax information from the CRA, Revenu Québec, and Wealthsimple.

CRA Auto-fill my return
The CRA’s Auto-fill my return feature lets you automatically import your tax slips into tax software like Wealthsimple Tax. 

How it works: For almost every tax slip that gets sent to taxpayers, a copy also gets sent to CRA. The CRA processes these tax slips and makes the data available for you to import into your tax software.

The result: You can automatically fill out the information in your tax return, such as tax slips, contribution information, and capital gains or losses, without needing to manually enter lots of numbers.

Wealthsimple import
It can take the CRA a little while to process everyone’s tax slips, so we let you import all your tax information from your Wealthsimple accounts a little earlier. 

If you use Wealthsimple Tax and have investment accounts with Wealthsimple, you can use Wealthsimple import. This feature allows you to directly transfer certain information from your Wealthsimple accounts into Wealthsimple Tax. You can import your tax slips as soon as they become available in your Wealthsimple account, so you do not need to wait for this information to become available from the CRA. 

Revenu Québec
Wealthsimple Tax also allows you to connect your account to Revenu Québec. This is a way for residents of Québec to have part of their return automatically filled out based on information directly from Revenu Québec

Contributions to registered accounts

Each year you can contribute to registered accounts tax-free as long as you stay within your contribution limit. Any income made in these accounts is not taxed. 

Registered Retirement Savings Plan (RRSP)
You'll need to report your RRSP contributions as detailed below. This can lower your total taxable income for the year.

You may receive two contribution receipts from your RRSP provider. One for March-December 2022 and one for January-March 2023, depending on when you made the contributions. You need these receipts to report your contributions on your tax return. 

You must report your contributions from January-March 2023 on your 2022 return. You will have the option to claim your contributions on your 2022 return, or carry any or all forward to your 2023 return if they provide no benefit on your 2022 tax return.

• Learn about RRSP contributions

If you still have available contribution room, you can use this calculator to see how further contributions will impact your return. 

Other Wealthsimple Tax resources:

• Make sure to report payments under the Lifelong Learning Plan if you withdrew funds from your RRSP under the Lifelong Learning Plan
• Make sure to report payments under the Home Buyer’s Plan if you withdrew funds from your RRSP under the Home Buyer’s Plan
• Learn how to carry forward RRSP contributions

Tax-Free Savings Account (TFSA)
You do not need to report your TFSA contributions on your tax return. Your financial institution will send your contribution information to the CRA or Revenu Québec once a year to make sure you have not gone over your limit. 

• Learn about TFSA contributions

Reporting gains or losses from trading and investment activity

If you have invested funds or earned interest in a non-registered account, you will need to report your gains, losses and any 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

For information and assistance about reporting your gains or losses in a non-registered account through Wealthsimple Tax, check out the articles in the Reporting income and capital gains section of our Help Centre. 

Capital gains
When you sell a security for a profit, you make a capital gain. In a non-registered account, 50% of realized capital gains are taxed at your applicable marginal tax rate. This means that half of your total gains are yours to keep, while the other half is added to your total income for the year and taxed accordingly. You will receive a T5008/RL-18 to report your capital gains.

To report your capital gains, you will need to report your ACB (adjusted cost base), which you can calculate based on the information given to you on your T5008. 

Investment income
Investment income includes interest earned or dividends received in a non-registered account. If you have over $50 in investment income in an account, you will receive a T5 (and RL-3 if in Québec). If you have under $50, you will not receive a T5/RL-3. Either way, you are required to report this on your return. 

Resources for reporting Crypto gains and losses
If you used Wealthsimple Crypto to trade cryptocurrencies, and you’re using Wealthsimple Tax to file your taxes, then your Crypto information can be automatically imported into Tax.

If you plan to use Wealthsimple Tax, but do not use Wealthsimple Crypto, or have cryptocurrency activity elsewhere, check out this article.

Finally, check out this article for more general information on reporting your cryptocurrency gains and losses.

Resources by province or territory

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

Email, phone number, address, 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, Social Insurance Number (SIN)

To update your name, date of birth, or Social Insurance Number through your profile, follow the steps below:

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

While we are reviewing updates, you will see a yellow banner on the Identity information page letting you know that the edits are currently under review.

If you do not see the prompt, 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 at the top right of the screen
3. Select Personal information
4. Tap Identity information
5. 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”

Types of documentation required to make these updates:

• To update your legal name, you’ll need to upload either a marriage/name change certificate or a valid piece of government ID (e.g. Drivers License, Passport, ID Card) with your updated name.
• To update your date of birth, you’ll need to upload a valid piece of government ID (e.g. Drivers License, Passport, ID Card) that includes your date of birth.
• To update your SIN, you’ll need to upload a digital copy of your SIN document. This could be a clear picture of your SIN card/SIN certification, an original PDF copy of your T4 or another tax document with SIN included. You can download this from your employer's portal or the CRA website.

You can read more about the required documentation here.

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 at the top right of the screen
3. Select Personal information
4. Tap Identity information
5. Tap Edit at the bottom of your screen
6. Scroll down and you can update your information here

Preferred name

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

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 at the top right of the screen
3. Select Personal information
4. Select Gender
5. Here, you can select the gender that best describes you
6. Tap Update

Shareholder communication materials

By default, shareholder communication materials are turned off for all clients when you first open an account. You can opt-in to receive these communications, or update your preferences, by following the steps below. Please note updating your shareholder communication material preferences is currently only supported through the Trade mobile app.

1. Sign in to the Wealthsimple app on your mobile device
2. Tap the Profile icon at the top right of the screen
3. Select Notifications and then Shareholder materials 
4. Here, you can choose your shareholder communications settings

Email and push notifications

You can customize the email and push notification updates you receive about account-related information, product updates and promotion announcements. To do this, follow the instructions below:

1. Sign in to the Wealthsimple app on your mobile device
2. Tap the Profile icon at the top right of the screen
3. Tap Notifications
4. Either Email notifications or Push notifications 
5. Here, you can toggle on or off the items for which you'd like to be notified

Cash profile picture

You can set up and update your Cash profile photo so contacts can easily identify you. To do this, follow the steps below:

1. Sign in to the Wealthsimple app on your mobile device
2. Tap the Profile icon at the top right of the screen
3. Tap Personal information
4. At the top of the screen, select your profile photo
5. Select Choose a photo
6. After selecting a photo, you can drag and reposition your photo
7. From there, select Confirm, or Choose a different photo to change your selection.
8. Once you select Confirm, your profile photo will be set up successfully

In this article, you will find all the deadlines for upcoming the 2023 tax season. You can also find out when to expect each tax document.

Details to keep in mind

• Deposits must be received with the status marked as 'completed' in the account before the deadline for the transaction to count toward your 2023 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 2023 contributions.
• Rejected deposits will not count toward your 2023 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 2023 contributions.

Important deadlines for the 2023 tax season

When to expect each tax slip for the 2023 tax season