Currently, the only way to move funds into your Wealthsimple Trade account is through the Electronic Funds Transfer (EFT) method and through institutional transfers. EFTs are where you link a chequing or savings bank account to your profile and submit a deposit request in the app. The maximum amount we can accept per EFT is $50,000. Institutional transfers can be initiated from the "Transfers" page in the app and involve moving an existing investment account you currently have at another institution over to Wealthsimple Trade!
We have a lot planned for this platform, so these lists may change over time! (This being said, we do not currently have timelines on which additional funding methods will be supported and when).
Wealthsimple Trade currently supports the following methods of funding:
- Electronic Funds Transfer (EFT) through a linked bank account (max $50K per deposit)
- Institutional transfers (moving existing investment accounts)
Wealthsimple Trade does not currently support the following methods of funding:
- Bill payment method (initiating a deposit from your bank account with your Trade account as the payee)
- Deposits from Line of Credit accounts or Credit Cards
- Wire transfers*
- Mailing in of cheques
*Note that if you wish to wire an amount greater than $50K our team may be able to make arrangements for a $30 fee. Please submit a request for more details.