Wealthsimple Invest 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 Invest 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 Trade 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 Invest

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).

New to Wealthsimple? We’d love to help you set up your profile and start making the most out of your account.

We’ve recently set up a dedicated support team to make sure your onboarding goes as smoothly as possible. If you’d like to schedule a call with one of our specialists, you can set up a time using the link below. We’ll give you a call at a time that’s most convenient for you.

What can I expect from a call?

If you’re using Wealthsimple Invest, we can help you:

• Learn how to get some of your assets managed for free
• Get an understanding of all our products, and which might be right for you
• Get connected with a licensed financial professional for dedicated advice

If you’re using Wealthsimple Trade, we can help you:

• Take advantage of rewards – like free stocks
• Get an understanding of all our products, and which might be right for you
• Set up your accounts and start trading faster

Wealthsimple Trade is a self-directed investment platform with two different kinds of accounts - Trade accounts and Crypto accounts.

• Trade 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 Trade

1. Download the Wealthsimple Trade 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 Trade accounts and Crypto accounts. Click below to read more about fees for each account type —

• Fees associated with Trade accounts
• Fees associated with Crypto accounts

What’s the difference between Wealthsimple Trade and other Wealthsimple products?

• Wealthsimple Invest 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 Trade offer me any advice on which assets to buy & sell?

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

If you're looking to learn more about the Trade 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 Trade is offered by Wealthsimple Investments Inc. Wealthsimple Investments Inc. is a member of the Investment Industry Regulatory Organization of Canada. 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

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

• Full Name
• Email
• Social Insurance Number (SIN)
• Date of Birth
• Address (and potentially a previous address)
• Phone Number
• Employment information

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

Wealthsimple is on a mission to provide the best service to our clients; we believe that you are important, and we want to make sure we are where you need us when you need to contact us.

Transparency is key to holding us accountable, so our Client Success team will be reporting our average wait time metrics monthly.

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 team of fiduciary advisors for help. 

Accounts offered by Wealthsimple

Personal

A non-registered personal 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 personal 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 a ‘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.

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 personal (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 1.0% 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.

Spend (Cash)

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

• Spend money using the Wealthsimple Card and earn 1% cashback on qualifying transactions
• Send and receive money from friends using a Dollar $ign or phone number
• Request money from friends
• Split a bill with your friends

Learn more about opening a Spend (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 Spend 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 Spend, 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 Spend account. The amount you send is limited to the balance available in your spending account.

To send money to friends, follow these steps —

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

Sending limits

Your Spend 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 funds 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 other 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

• Cryptocurrency accounts have a $25,000 daily withdrawal limit. 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 subscribe to Plus and want to withdraw funds from a USD account, you can convert your cash to CAD and withdraw it to your connected bank account. It’s currently not possible to withdraw USD to a USD 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.

How long does it take to make a withdrawal?

Add a bank account

You’ll need to link a chequing or savings bank account before you can make a deposit into your account.

You have two options for linking a bank account to your Wealthsimple profile –

1. Automatic linking. We'll use one of our trusted partners, Flinks or Plaid to securely request your online banking information.
2. Manual linking. If automatic linking fails or is unavailable, we may ask you to manually enter your banking information and provide a specific supporting bank document based on the institution that you bank with.

Automatic linking

When linking your bank account automatically, 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. Automatic linking is the quickest way to safely link your bank account to your profile.

Manual Linking

If you can’t find your institution, or if automatic linking is unsuccessful, we may ask you to link your bank account manually. You'll 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 full 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.   

Manual linking for credit unions
If you are manually linking an account with a credit union, we may need additional documentation in order to verify your banking details. In this case, we will send you an email with next steps.

Remove a bank account

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

Related articles

• Find your banking details to link your external bank account
• Troubleshoot linking your bank account

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. 

• How to make a deposit
• Deposits into stock and crypto trading accounts
• Deposits into managed (Invest) accounts
• Deposits into Spend (Cash) 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 through the Trade app 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. This does not apply to deposits made on the web.

Your unique instant deposit limit depends on the amount you hold in your trading account, and whether you are a Basic or Plus subscriber. Find your unique instant deposit limit in the table below:

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:

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 to self-directed trading accounts do not count towards your Wealthsimple Black or Generation status.

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 Spend (Cash) accounts

Refer to the table below to understand when your recent deposit will become available to send or spend from your Spend (Cash) account.

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 spending accounts:

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

Before you begin

Supported cryptocurrencies when making a deposit

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

• 0x (ZRX)
• Aave (AAVE)
• Basic Attention Token (BAT)
• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Chainlink (LINK)
• Compound (COMP)
• Curve (CRV)
• Dai (DAI)
• Decentraland (MANA)
• Dogecoin (DOGE)
• Enjin (ENJ)
• Ethereum (ETH)
• Kyber Network v2 (KNC)
• Litecoin (LTC)
• Loopring (LRC)
• Maker (MKR)
• Polygon (MATIC)
• Ren (REN)
• SushiSwap (SUSHI)
• Uniswap (UNI)
• USD Coin (USDC)
• Yearn.finance (YFI)

How to deposit cryptocurrency 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 cryptocurrency in your account has its own deposit address. You'll need to make sure that you choose the address that matches the type of cryptocurrency 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

Cryptocurrency 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 of 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 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
• Options
• 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.

Request a new stock or ETF

If you'd like to request a stock or ETF that's not currently available through Wealthsimple, you can add it to the feedback survey below. Please note that requesting a stock or ETF doesn't guarantee we'll be able to make it available to trade.

Stock and ETF Request Form

You can currently buy or sell 56 different cryptocurrencies using Wealthsimple.

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

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

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

Activate your physical Wealthsimple Card

To activate your Wealthsimple Card, follow these steps:

1. Log in to your Wealthsimple mobile app
2. Tap the Spend tab at the bottom of your screen
3. Select Activate your physical card and then Get started
4. Enter in your card's Expiry date and CVV
5. Create a 4-digit PIN, confirm your PIN and then tap Set up your PIN 
6. Your physical Wealthsimple card will then be activated

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

Fees for using the Wealthsimple Card

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

• Currency conversion fee: Visa will charge a currency conversion fee on purchases made in a currency other than CAD.
• 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-left corner, then Settings, and press on Agreements.

Spending limits

In order to use your Wealthsimple 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 Card —

Tap limits are enforced by VISA and can change. Visit this page for up-to-date information on tap. 

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 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 1.5% fee, in the amount of the cash reward proceeds. 

Earn stock or crypto back

Instead of earning cash back to your Spend 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
• Auto-purchase the cryptocurrency of your choice in your crypto trading account

Choose your reward destination 

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

To make your rewards go to your crypto trading account, or to change the cryptocurrency that you wish to auto-purchase with your rewards, follow these steps:

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 Card here. 

View your earned cash back

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

Terms and conditions

The Wealthsimple Cash 1% cash back promotional offer (the “Offer”) is valid for new and existing users of the Wealthsimple Cash Visa 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 Visa Prepaid Card (Cash Card) is issued by People's Trust Company pursuant to license by Visa Int. 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 Visa® Prepaid Card Cardholder Agreement between you and Peoples Trust Company. All trademarks belong to their respective owners and do not necessarily denote a direct relationship or endorsement of this Offer or Wealthsimple.

Our Cash product is offered by Wealthsimple Payments Inc., a FINTRAC registered money services business. The funds you add to the Cash Account Funds are held securely in our omnibus custodial account with Canadian Western Trust Company, a federal trust company regulated by the Office of the Superintendent of Financial Institutions under the Trust and Loan Companies Act. All cash balances from your Wealthsimple Cash account are held in trust at a Canada Deposit Insurance Corporation (CDIC) (https://www.cdic.ca/about-us/) member institution. CDIC insures eligible cash balances payable in Canada up to $100,000 per client per member institution within each insured category. Protection eligibility is free and automatic with your Wealthsimple Cash account. Learn more (https://www.cdic.ca/your-coverage/how-deposit-insurance-works/deposits-held-in-trust/) about how CDIC protection works.

Note: 1 entry per Qualified Referral. Referee must be a new Wealthsimple Stocks & ETFs or Crypto client, being someone who has not opened a Stocks & ETFs or Crypto account with Wealthsimple in the past. Quebec Excluded (see below).

How do I Refer a Friend?

1. Sign into the Wealthsimple app on your mobile device;
2. Tap on the gift icon at the top right-hand side of the screen; and
3. Select “Invite friends to win” and share your link — text it, share it on social or copy and paste the link!

Note: You cannot refer a friend directly through the desktop version of Wealthsimple.

How does the Bonus work?

The Bonus has a value of between CAD$5 and CAD$3,000 with an average of CAD$10 and ~99% of clients receiving less than CAD$50 at the time of selection. The Bonus is subject to change. 

Wealthsimple randomly selects the Bonus and because the Bonus is chosen randomly, you may not receive the same Bonus as others.

Who Can Enter?

Referee: Must be a new Wealthsimple Stocks & ETFs or Crypto client meaning they have not previously opened a Wealthsimple Stocks & ETFs or Crypto account. They must also be a resident of Canada (excluding Quebec - see below).

Referrer: Must be a Wealthsimple Stocks & ETFs or Crypto client with accounts in good standing and a resident of Canada (excluding Quebec - see below).

What If I am a Quebec Resident?

Due to regulatory restrictions, Quebec residents will not qualify to receive a randomized Bonus either as Referee or Referrer. Instead, Quebec residents shall receive a $10 Quebec Bonus. You must otherwise be eligible for the promotion. All applicable terms and conditions apply including the 1 entry per qualifying referral. There is no requirement that you purchase any security with the Quebec Bonus.

Wealthsimple will continue to monitor and calibrate the Quebec Bonus as market conditions change. Wealthsimple reserves the right to update the Quebec Bonus and will provide notice of that change here.

Do I have to buy stocks or crypto?  

Wealthsimple Stocks & ETFs and Crypto do not provide recommendations or investment advice. When you receive the Bonus, the cash will be deposited directly into your account and there is no requirement that you purchase any security with the cash. You alone will be responsible for your investment decisions and Wealthsimple will not consider your financial situation, investment knowledge, investment objectives, savings objectives and risk tolerance when accepting orders from you.

How do I claim my Bonus?

To get your Bonus, your friend will need to open and fund a Wealthsimple Stocks & ETFs or Crypto account by following your referral link (there's no minimum needed to fund an account).

Once the above steps are carried out, you'll both receive a Bonus within 24 hours which you must then claim in the app. All steps must be carried out during the Offer Period. After all steps have been completed, the Bonus will be applied within 7 days. You have 30 days after the Bonus is applied to claim it Bonus before it expires.

There may be tax implications to the Bonus. If you choose to deposit a Bonus into your RRSP or TFSA account it will be reported by Wealthsimple as a contribution to CRA. You are required to review your available contribution room prior to making a contribution to your registered account. Any excess contribution penalties that arise from a contribution are solely the responsibility of you, the client. If you require tax advice, please contact your personal tax advisor.

I was given a referral link by a friend but I forgot to use it when I signed up. Can I still get the referral Bonus?

If you signed up to Wealthsimple Stocks & ETFs or Crypto within the last 30 days, you can still use your friend's referral link.

1. Sign into the Wealthsimple app on your mobile device
2. Tap the gift icon at the top of the screen
3. Select I was referred by someone near the bottom of the screen
4. Enter the unique code from your referral link (the series of letters found at the end of the URL)

Do my rewards expire?

Yes. Once you’ve opened and funded a Stocks & ETFs or Crypto account, your Bonus will stay open for 30 days. The Bonus will expire after 30 days. 

Can this Promotion be combined with other sign up bonuses?

No, as a general rule, this promotion cannot be used in addition to any other bonus, including other promotional offers for signing up for Wealthsimple Stocks & ETFs or Crypto.

Referral Arrangement Disclosure

During the Refer your friends promotion, you are effectively entering into a referral arrangement with Wealthsimple, whereby Wealthsimple will deposit one (1) Bonus in your account (the Referrer) and one (1) Bonus to your friend’s account (the Referee), once the Referee opens and funds a Wealthsimple Stocks & ETFs or Crypto Account. The names of each party entering this agreement are disclosed on the application at the time of the referral. We have adopted policies and procedures to assist us to identify and control any conflict of interest that we may face. If a referral is made to a registrant, all activity requiring registration resulting from the referral arrangement will be provided.

Terms & Conditions

Wealthsimple Stocks & ETFs and Crypto: Rewards Referral Promotion

(the “Promotion”)

The Bonus and Odds. The Bonus is a cash value randomly selected for this Promotion. Because they are chosen randomly, you may not receive the same Bonus as others. The Bonus has a value of between CAD$5 and CAD$ 3,000 with an average of CAD$10 and ~99% of clients receiving less than CAD$50. The Bonus remains subject to change, at our sole discretion. The Bonus will be applied within 7 days after Promotion entry in accordance with these terms and conditions. The Bonus must be claimed within 30 days.

Eligibility. To enter and be eligible to win, you must:

1. be a legal resident of Canada (excluding Quebec);
2. be of the age of majority, or older, in the province/territory of residence at the time of entry; and
3. meet the entry requirements outlined below.

Quebec Residents. Quebec residents do not qualify for the Bonus. Instead, Quebec residents that otherwise meet the eligibility criteria and entry requirements will receive a non-randomized reward of no less than $10 at the time of selection (the “Quebec Bonus”). The Quebec Bonus may be updated periodically to reflect changes in market conditions and promotion design. We strongly encourage you to refer to these terms and conditions for the latest details.

Entry Requirements

Qualifying Referral. To enter, a current Wealthsimple Stocks & ETFs or Crypto client with accounts in good standing (the “Referrer”) must provide their referral link to a new Wealthsimple Stocks & ETFs or Crypto client (the “Referee”), being an individual who has not previously registered for or created a Wealthsimple Stocks & ETFs or Crypto Account, that signs up for a Promotion Account after following that referral link containing the unique tracking code.

Limit 1 entry per Qualifying Referral.

Bonus. For each Qualifying Referral, the Referrer and Referee will each earn one (1) Bonus.

Promotion Account. In order to qualify and receive the Bonus, both the Referrer and the Referee must have or open a Wealthsimple Stocks & ETFs or Crypto account (a “Promotion Account”) by visiting https://www.wealthsimple.com/en-ca and following the instructions on how to create an account. There are no fees associated with the creation of a Promotion Account.

Funding Requirement. Once the Referee has opened a Promotion Account, they must fund the Promotion Account. The funding requirement must be met within 30 days of account opening and prior to the end of the Offer Period.

Hold Period. Customers who receive a Bonus must keep the Bonus in their Promotion Account (or another Wealthsimple account) for 90 days or the Bonus may be deducted from their final withdrawal amount or otherwise recovered by Wealthsimple.

No purchase necessary: To enter without meeting the funding requirement, the Referee must type out your name, address, city, province or territory, postal code, telephone number, and a unique and original 100-word or more essay on “My Investing Strategy”, and enter it in this form. Except for the funding requirement, you must otherwise qualify for the Promotion in accordance with these terms and conditions, including following the referral link and opening the Promotion Account. If the entry complies with the above requirements, it will result in one (1) entry. Incomplete entries will be void. No script, macro, robotic or other program-assisted, mechanically reproduced, bulk or mass entries are permitted. Limit 1 entry per Qualifying Referral still applies.

Offer Period. This Promotion begins on July 8, 2022 and is available for a limited time.

Release. You assume all risk of injury, illness, disease, death, or any other damage which may arise in connection with your participation in the the Promotion. Without limiting the foregoing, you hereby: (a) forever release and discharge Wealthsimple and its parent companies, subsidiaries, affiliates, related and associated entities and employees, directors, officers, suppliers, agents, sponsors and administrators of each (collectively, the “Releasees”), from and against any and all claims, actions, costs, liabilities, judgments, damages, obligations, losses, penalties, and expenses of any kind or nature whatsoever (including legal fees) (collectively, the “Claims”) in any way arising directly or indirectly out of any injury, loss, or damage that you may suffer as a result of, or in connection with your participation in the Promotion or any promotion-related activity, including the posting of the Bonus in your Promotion Account and subsequent use of the Bonus; and (b) indemnify, defend and hold harmless the Releasees from and against any and all damages, loss and expenses, including legal fees, which may be suffered directly or indirectly by reason of your own negligence or willful misconduct during or in connection with your participation in the Promotion;

No Recommendation. Neither the Bonus nor identification of a particular security in communications related to this program shall constitute a solicitation of the security or a recommendation to buy, sell or hold the security. Wealthsimple Stocks & ETFs and Crypto does not provide investment advice and do not hereby recommend any security, crypto or transaction. There is no requirement that you purchase any security or asset with the Bonus.

Publicity. By participating in the Promotion, you consent to the use of your name, social media handle(s), comments and image, for any publicity carried out by Wealthsimple  in relation to the Promotion, without further notice or compensation.

General. This promotion is sponsored by Wealthsimple Technologies Inc. (“Wealthsimple”). Wealthsimple reserves the right to amend, withdraw or restrict the Promotion and/or these terms and conditions at any time without notice. Wealthsimple is the sole arbiter of these rules and any other issue arising under the Promotion. If Wealthsimple suspects fraudulent or abusive behaviour, inappropriate, offensive or derogatory language, gaming of the system or a violation of these terms, Wealthsimple reserves the right to remove all promotions from the Promotion Account including the Bonus and take any other action it deems appropriate including, but not limited to, closing the Promotion Account. This offer cannot be used in conjunction with any other promotional offer. An invitation to participate in this offer does not provide assurance that you will be accepted as a customer of Wealthsimple. This offer is only valid for customers in Canada (excluding Quebec as outlined above) that otherwise meet our eligibility requirements. Our standard terms (https://www.wealthsimple.com/en-ca/legal/terms) relating to your use of Wealthsimple and the investment management agreement that applies to the Promotion Account each apply and are not affected in any way by this offer.

Email, phone number, address, employment information

You can update your email, phone number, address, or 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:

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 More/Settings tab at the bottom of the screen
3. Select Profile and then My personal info Tap Identity information under Personal details
4. 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.

Preferred name 

Citizenship 

If you need to update your citizenship, you will need the help of our support team. Please reach out to us directly and we can take the next steps.

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 More/Settings tab at the bottom of the screen
3. Choose the Profile menu item
4. Select Shareholder materials under Preferences
5. Here, you can accept or decline shareholder materials

In this article, you will find all deadlines for the 2021 tax season. You can also find out when to expect each tax document.

Important deadlines for the 2021 tax season

When to expect each tax slip for the 2021 tax season