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

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

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

Get started with Wealthsimple Managed investing

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

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

Our managed accounts work based on the following principles -

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

1. Diversify your assets

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

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

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

2. Tune out the noise

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

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

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

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

3. Keep costs low

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

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

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

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

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

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

Get started with self-directed investing

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

Fees

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

What’s the difference between self-directed investing 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 offer me any advice on which assets to buy & sell?

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

If you're looking to learn more about self-directed investing with Wealthsimple or have some general questions, you can reach out to our 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, follow these steps:

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 limits on contributions, nor any 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.

Learn more about opening a LIRA.

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.

Cash

You can pay for things using the Wealthsimple Cash card (individual Cash account only) 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 an individual or joint Cash account.

Business

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

Learn more about opening a Business account.

Overview

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

Self-directed investing accounts
Your available balance includes unused cash from your deposits, dividends you've earned, plus any settled proceeds from stocks, ETFs or cryptocurrencies you've sold.

Managed accounts
Your available balance includes 99.5% of the funds in your account. The remaining 0.5% is held for any funds needed for upcoming fees. 

Why is my available to withdraw balance less than my total account balance?

If your some of the funds in your total account balance are still on hold or need to settle, your available to withdraw balance will be less than your total account balance.

Your not available balance includes:

• Deposits that've been in your account for less than 5 business days. New deposits take 5 business days to clear before they can be withdrawn.
• Proceeds from a holding you sold that haven't settled. Funds generated from selling holdings must settle for 1 business day before they're added to your available balance. This is a requirement from the Canadian government and is a mandatory step for all financial institutions.
• Some cash in your account is currently reserved for funds transfers or fees.

Make a withdrawal

If you're withdrawing from a non-registered account

Follow the steps below to make a withdraw. 

If you're withdrawing from a registered account

Withdrawing from a registered account may have tax and contribution room implications. There may also be additional steps you need to take before you can withdraw your funds.

Review the article(s) below before you make a withdraw from a registered account:

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

How to make a withdrawal

Follow the steps below to make a withdrawal:

Crypto and USD account withdrawals

Crypto account withdraws

There are no limits to the amount or frequency that you are able to withdraw.

If you're looking to withdraw coins, please refer to this article.

Withdrawing USD cash

If you 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 investing account to a linked U.S. dollar bank account. 

Selling USD assets

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 1 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 investing accounts.

Overview

You’ll need to link a chequing or savings bank account held with a Canadian institution 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.

If you don't want to link your bank account using Flinks or Plaid

If you don't 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 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 Flinks or Plaid. Instead, consider using a different method to fund your account.

Troubleshoot linking your bank account

If you’re having trouble linking your bank account, please try our troubleshooting tips.

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. 

Link a USD bank account

USD bank accounts can only be linked with an active USD account subscription. Premium and Generation clients can opt-in and upgrade to a USD Account for free.

To opt-in to USD accounts, check out this article.

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. We’re not able to manually link USD bank accounts at this time.

Remove a bank account

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

Related articles

• Make a deposit
• Fund your account instantly with Interac® e-Transfer
• Fund your account instantly with a VISA or Mastercard debit

Overview

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

Wealthsimple Cash vs Interac® e-transfer

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

Send money to your friends

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

To send money to friends, follow these steps:

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

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

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

Sending limits

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

Remove a contact after sending them funds

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

Change your preferred name

To change your preferred name:

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

Overview

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

You can also add funds to your Wealthsimple accounts by

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

Deposit limits

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

CAD deposit limits

You can deposit

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

USD deposit limits

You can deposit

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

How to make a deposit

To make a deposit, follow the steps below:

When will my deposit be available?

Depending on how much you deposit and which account you're depositing into, some funds might be available instantly, while the rest will take 5 business days before you can move, trade, or withdraw them.

Managed investing

Deposits into managed investing accounts will automatically be invested for you within 5 business days. Learn more about deposits into managed account. 

Self-directed investing, Crypto, and Cash accounts

Familiarize yourself with these terms to better understand when your funds will be available:

• Instant deposit: Deposits within your unique instant deposit limit are available to spend or trade immediately. Your instant deposit limit resets once every 3 business days. You can deposit your entire limit all at once, or spread it out across multiple deposits.
• Standard deposit: Deposits outside your unique instant deposit limit are available to spend or trade in 5 business days.
• Auto-deposit: Automatic, recurring deposits into your Wealthsimple account within your instant deposit limit are available to spend or trade instantly. Amounts outside of this limit are available in 5 business days.

Instant deposits

Self-directed investing and Crypto accounts

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

If you make a single deposit to a self-directed investing or crypto 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 in 5 business days. 

Cash accounts

Amounts deposited within your instant deposit limit are available for you to send and spend immediately.

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 and spend immediately. The remaining amount of your deposit will be available in 5 business days. 

Standard deposits

Self-directed investing and Crypto accounts

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

Cash accounts

All deposits outside of your instant limit will be available to send and spend within 5 business days. Keep in mind that your instant limit may be up to $5000, and your instant limit resets after 3 business days. 

Auto-deposits

Self-directed investing and Crypto accounts

Auto-deposits take up to 5 business days (from the auto-deposit date) before being available to trade. Auto-deposits can be processed instantly for clients who are eligible for instant deposits and have a remaining instant deposit limit on the scheduled auto-deposit date. This will impact your instant deposit limit.

Cash accounts

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 into managed accounts

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 Wealthsimple Investments Inc., which is Wealthsimple’s brokerage.

More information about deposits into self-directed investing and crypto 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 Wealthsimple Investments Inc., which is Wealthsimple’s brokerage.

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.

More information about deposits into Cash accounts

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

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)
• API3 (API3)
• 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)
• Decentraland (MANA)
• Dogecoin (DOGE)
• Dydx (DYDX)
• Ethereum (ETH)
• Fantom (FTM)
• Gala Games (GALA)
• Immutable X (IMX)
• Injective (INJ)
• Kyber Network v2 (KNC)
• Lido DAO (LDO)
• Litecoin (LTC)
• Loopring (LRC)
• Maker (MKR)
• Near (NEAR)
• Polkadot (DOT)
• Polygon (POL)
• Quant (QNT)
• Ren (REN)
• Shiba Inu (SHIB)
• Skale (SKL)
• Solana (SOL)
• Storj (STORJ)
• SushiSwap (SUSHI)
• Synthetix network token (SNX)
• Tezos (XTZ)
• 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 a variety of crypto coins using Wealthsimple.

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

Overview

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

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

Search for a stock or ETF

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

If an asset you're searching for is unavailable, it's likely because it doesn't meet our requirements. Learn more about why the asset may be unavailable below.

Why isn't a stock or ETF available?

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 –

We don't support the type of security

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

• Mutual Funds
• Preferred Shares
• 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) or the Depository Trust Company (DTC).

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

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

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

Overview

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

Since the Cash card is a prepaid Mastercard, you must fund the Cash account linked to your card before you can make a purchase. Learn more about funding your account.

Learn how to use your Cash card at a point of sale terminal or ATM:

• To make a purchase, select credit when you insert or tap your card at a terminal.
• To withdraw from an ATM, select chequing as the account you're withdrawing from.

If you have multiple Cash accounts

You can only spend using your Wealthsimple Cash card from the individual Cash account connected to your card. This account has a card icon in the top right corner of the account screen in the mobile app (or Card details on the web). It’s not currently possible to switch which individual Cash account you can spend from.

Fees for using the Wealthsimple Cash card

Wealthsimple does not charge any fees for using the Wealthsimple Cash card. You also won't be charged any foreign transaction fees when you use your Wealthsimple Cash card internationally.

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 might see a standard ATM withdrawal fee (usually about $3.00) when you make a withdrawal at an ATM. This fee is charged by the ATM provider and not by Wealthsimple.

You'll be reimbursed for eligible ATM transactions. Learn more about our ATM fee reimbursement policy. 

Spending limits

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 —

Online purchase authentication

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

I received an unexpected text or email. What should I do?

Please check if you’ve shared your card number with a family member or friend who might be attempting to make an online purchase. 

If you haven’t shared your card number with anyone, you should:

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

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.

Frequently asked questions

Can I have more than one card for my account?

No, Wealthsimple Cards are limited to one per person.

Can I get a Wealthsimple Cash card for my joint Cash account?

No, you currently can’t get a Wealthsimple Cash card paired with your joint Cash account.

Will the Wealthsimple Card affect my credit score?

No, Wealthsimple cards are prepaid Mastercard cards so it will not impact your credit score.

Why is my virtual card number different from my physical card number?

This is completely normal. Your virtual card number and physical card number are meant to be different.

When can I expect to receive my physical Cash card?

You can expect to receive your physical Cash card within 10-14 business days. Once you receive your physical Cash card in the mail, you will need to activate it by following these steps.

Will I get charged a transaction fee when using the Cash card?

Wealthsimple doesn't charge a transaction fee when you use your Cash card.

Does Wealthsimple charge non-sufficient funds (NSF) fees?

No, Wealthsimple doesn't charge NSF fees.

Does Wealthsimple sell your personal or spending data?

No, Wealthsimple does not sell any of our client's data.

How do I view my cardholder agreements?

To review your cardholder agreements on the Wealthsimple Cash app, follow these steps:

1. Sign in to the Wealthsimple app on your mobile device
2. Tap the Profile icon at the top-right corner
3. Tap the Settings (gear) icon
4. Select Accounts from the menu
5. Choose your Cash account
6. Tap Account documents
7. Review the available agreements

Overview

When you use your Wealthsimple Cash card, you will automatically receive 1% cash back on all eligible purchases. Cash back is paid out to you within 1 business day after each eligible purchase. 

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 have multiple Cash accounts

You can only earn rewards in the individual Cash account linked with your Wealthsimple Cash card. This account has a card icon in the top right corner of the account screen in the mobile app (or Card details on the web).

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 the first Cash account in your account list
4. Select Spend rewards underneath your account balance
5. Tap Manage rewards
6. Choose the type of reward you'd like to earn
7. Choose the account you wish your rewards to go to (if applicable)
8. Your cash back is now earned in your chosen account

View your earned cash back

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

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

Auto-invest rewards with crypto

If you choose to auto-invest your rewards, you are instructing Wealthsimple Investments Inc. ("WSII") 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. 

Cash back settlement period in crypto accounts

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.

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 Investments Inc. ("WSII") 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 Canadian Investment Regulatory Organization, 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 $500,000 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.

How to use this guide

This guide is designed to help you get ready to file your 2023 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 investing 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.

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 2023 and one for January-March 2024, 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 2024 on your 2023 return. You will have the option to claim your contributions on your 2023 return or carry any or all forward to your 2024 return if they provide no benefit on your 2023 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

First Home Savings Account (FHSA)
You'll need to report your FHSA contributions as detailed below. This can lower your total taxable income for the year.

You must report your contributions for the year on your return. You will have the option to claim your contributions as a deduction on your return or carry any or all forward if they provide no benefit.

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, and employment information

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

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

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

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

Update your personal identifying information through the app

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

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

Update review process

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

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

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

Sign your updated agreements

Follow the steps below to sign your new agreements:

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

Citizenship and U.S. person status

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

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

Preferred name

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

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

Gender

To update your gender, follow the instructions below:

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

Language settings

Follow these steps to change your language settings:

Overview

In this article, you will find all the deadlines for 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 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