How long should my funds transfer take?

Deposits: Deposits from your bank account are processed overnight. Once your bank details are verified, your deposit will be processed within 24 hours.

Withdrawals: Withdrawals can take up to 7 business days from the time the withdrawal is requested to the time the money arrives in your bank account. The time lag is due to regulatory requirements and the processes used by banking institutions. Our team is currently working to make withdrawals faster for you.

Institutional Transfers: Transferring an existing investment account to Wealthsimple takes 7-10 business days for institutions that support the Automated Customer Account Transfer Service (ACATS). For Non-ACAT eligible institutions, transfers can take 2-4 weeks to complete. We're working hard to make these transfers faster; however, they're heavily dependent on the time it takes the relinquishing institution to respond to the transfer request. 

Trading: Once received, we'll invest your money and have your portfolio visible online within 1-2 business days.

My funds haven't been traded or transferred and it's passed the timeline stated above. What do I do?

1. There are a few things to note with the timelines above. The first is that these timelines may be extended if you just opened your account or if you are funding your account for the first time:

The first is that these timelines may be extended if you just opened your account or if you are funding your account for the first time. Please allow 1-2 additional business days to the times above if this is the first time you are funding your account.

Deposits and withdrawals are only processed on weekdays. Any transfer requests scheduled for the weekend will be processed the following Monday.

We update account values once per day. This means the function may be completed but not reflecting on your dashboard until the following day's update.

2. In some cases, we require additional information to open your account or verify your bank before we can perform the functions above. Please check the email address your Wealthsimple account is registered with to see if you've received any account updates from our support team.

3. If one of the functions above is still taking longer than expected, please contact our Relationship Management team.

Was this article helpful?
0 out of 0 found this helpful