There are four ways to add funds to your account:
- Debit card payment: a one-time transfer of funds using your debit card to your Wealthsimple account.
- Direct debit: an agreed fixed amount of money is automatically withdrawn from your bank account and contributed to your Wealthsimple account on a regular basis.
- Bank transfer: transfer of cash from your bank account as a one-off or a recurring transfer by standing order.
- Account transfer: transfer of an investment account you may hold with another provider. You can either transfer your account in cash, fully or in part, or the investment assets. You can instruct this during the account opening or after you are up and running. We do as much of the heavy lifting as we can for you to make it as straight forward as possible.
If you transfer in cash, from the time it is with us it will take at most 5 business days for the investments to be visible on your portfolio.
Transfers of investment assets can take longer and not our recommended approach unless you have good reason to hang onto some of the assets rather than moving to the Wealthsimple investment portfolios - and that's the reason you're moving to us, right?