Currently the only way to move funds into your Wealthsimple Trade account is through the Electronic Funds Transfer (EFT) method - this is 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.
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)
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
- Institutional transfer (moving existing investment accounts)
- 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 email firstname.lastname@example.org for more details.