We're sorry to see you leave Wealthsimple but we understand that sometimes plans change and you may need to move your account elsewhere. We're happy to say that we do not charge any fees to transfer out your account!
Initiating the transfer out
That being said, all transfers out must be initiated by the receiving institution (the institution to which you are moving your account to). They will have their own transfer form for you to complete and sign, and they will initiate the transfer out with our clearing firm, Apex Clearing. Here are some details they may request:
- Clearing Firm: Apex Clearing
- DTC/ACATS Clearing Number: 0158
- Phone: 647-535-3404
- Fax: 631-274-8210
- Email: firstname.lastname@example.org
- Address: Apex Clearing Corporation, Securities Processing, 350 N. St Paul Str, Ste 1300 Dallas, TX 75201
You will also need your account number which you can find on any of your account or trade confirmation statements or on page two of the Investor Policy Statement.
Different transfer types
When transferring accounts, institutions can send transfer requests through different delivery channels. If your institution is ACATS eligible, the request must be submitted via ACATS. Otherwise, we accept transfer requests via email, fax or mail. It will take approximately 2-4 weeks for your funds to be transferred out, but if there are any delays with the transfer, we will contact your institution directly. At that point, they will need to coordinate with you to resolve any issues before the transfer out can be completed.
It is also important to note that once your transfer out has been initiated, you will no longer be able to withdraw funds from that account given that we will be preparing it to be sent to your institution.
If you have any other questions about transferring out your account, please let us know by reaching out via phone at +1 (855) 782-3559 or contact us here.