I cancelled my deposit to Wealthsimple but money was still taken from my bank account

Automatic deposit requests begin processing as early as 10:30 pm EST the night before your recurring deposit is scheduled. This means that if the recurring deposit is cancelled on the day a payment is supposed to be processed - even though the transaction isn't reflected on your bank account - the cycle's payment will still be processed.

If funds you did not intend to deposit have been transferred to your Wealthsimple account, you can Withdraw these funds back to your bank on the Withdrawals Page.

Please note that it will take up to 7 business days for a Withdrawal to arrive back in your account due to a mandatory holding period on new deposits. Your bank may reverse the original deposit during this 7 day clearing period. Funds often get pulled back when there isn't enough money to cover the deposit in the original account. If the deposit was created by mistake, you can ask your bank to place a stop payment on your deposit request.