Wealthsimple Crypto only accepts deposits from a Canadian bank via an electronic funds transfer. Once you’ve linked your bank account, you can initiate a deposit into your Wealthsimple Crypto account!
It takes 5 business days from the day of initiating your deposit for the funds to be deposited and available in your Crypto account for deposits above $1,000 and 3 business days for deposits under $1,000.
Due to the volatile nature of crypto, we do require the funds to clear your banking institution’s rejection timelines to ensure the funds won’t be pulled back which does normally occurred on the fifth business day.
Once you've initiated a deposit to Crypto, you must ensure your bank account maintains a balance that will cover the deposit amount until it has been completed. You should see the funds deducted for "CDN SHR INVEST INV" (our brokerage) from your bank account.
Please note, if you see a notification in your app that says "We need more information to complete your account opening", this will delay your first deposit by a few more business days. Once your account is opened though, the normal timelines will apply!