Wealthsimple Chequing (still widely known as Wealthsimple Cash, renamed by Wealthsimple in June 2025) supports Interac e-Transfer for loading and withdrawing funds, direct deposit from employers and government, and (for Wealthsimple investors) instant internal transfers to and from Wealthsimple’s trading and investing products.
Sending defaults to $5,000 per day and is adjustable, in $1,000 increments, up to $50,000 per day for eligible clients, with no separate per-transaction cap. Receiving (funding your account) is up to $10,000 CAD per transaction. All e-Transfers are free on every tier.
Wealthsimple Cash e-Transfer Limits
Sending: defaults to $5,000/day, adjustable up to $50,000/day for eligible clients (no separate per-transaction cap). Receiving/funding: up to $10,000 CAD per transaction. Free to send and receive on every account.
| Limit | Amount | Notes |
|---|---|---|
| Send, default daily limit | $5,000 | Adjustable in $1,000 increments |
| Send, maximum daily limit | $50,000 | For eligible clients; eligibility depends on account history and verification level |
| Send, per-transaction cap | None separate from the daily limit | You can send your full daily limit in one transfer |
| Receive (fund account) per transaction | $10,000 | Also limited by your external bank’s own sending limit, whichever is lower |
| Send/receive fee | $0 | All tiers |
| Internal transfer (to/from Wealthsimple investing) | No stated limit | Instant |
| Outgoing wire transfer | $15 flat fee | Domestic; no fee to receive a wire |
Loading Wealthsimple Cash
Method 1: Interac e-Transfer from another bank
- Open your bank’s app or online banking
- Send an e-Transfer to the email or phone number registered with your Wealthsimple account, up to $10,000 per transaction
- Funds typically appear within minutes
Method 2: Direct deposit
- Open the Wealthsimple app → your Chequing account → Direct Deposit
- Note your transit number and account number — issued under Wealthsimple’s own institution number (703)
- Provide to employer payroll or enter at canada.ca/My CRA Account
- Deposits arrive on the payment date
Method 3: Linked external bank account
- Link your bank account in the Wealthsimple app
- Initiate a transfer — check the app for current processing time and limits
Method 4: From Wealthsimple investment accounts (instant)
- Open the Wealthsimple app → move funds from your investing account to Chequing
- Available immediately in the Chequing account
There is no cash loading option — no branch deposits, no ATM deposit kiosks.
Withdrawing from Wealthsimple Cash
Method 1: Interac e-Transfer to your bank
- Open the Wealthsimple app → Chequing → Send
- Send an e-Transfer to your bank account’s registered email or phone number, up to your current daily sending limit
- Accept via Autodeposit or manually in your bank’s app
Method 2: Linked bank transfer
- Initiate a transfer to your linked external bank account
- Check the app for current processing time
Method 3: To Wealthsimple investments (instant)
- Move funds to your Wealthsimple investing account instantly within the platform
- Available immediately for investing
For larger withdrawals, Wealthsimple’s adjustable daily e-Transfer limit (up to $50,000/day for eligible clients) means most transfers no longer need to be split across multiple days — check your current eligible limit in the app first.
Direct Deposit Details
Wealthsimple Chequing direct deposit routing details are issued under Wealthsimple’s own institution number (703) — not a partner bank’s, contrary to how this was sometimes described in older coverage of the product.
| Field | Where to Find |
|---|---|
| Institution number | 703 |
| Transit number | Wealthsimple app → Chequing → Direct Deposit |
| Account number | Wealthsimple app → Chequing → Direct Deposit |
Account numbers are unique per user — find yours in the app. These details work for:
- Employer payroll
- CRA (tax refunds, GST/HST credit, Canada Child Benefit)
- Service Canada (EI, CPP, OAS)
The Wealthsimple Ecosystem Advantage
The transfer capability that sets Wealthsimple Chequing apart from other digital banks is the instant internal transfer to investment accounts — unique to the Wealthsimple ecosystem.
| Transfer Type | Time |
|---|---|
| Wealthsimple Chequing → Wealthsimple investing products | Instant |
| External bank → Wealthsimple investing products | Standard EFT processing time |
| External bank → Wealthsimple Chequing (e-Transfer) | Minutes |
| Wealthsimple Chequing → External bank (e-Transfer) | Minutes |
Keeping a cash buffer in Wealthsimple Chequing means that buffer earns interest and is instantly deployable into investments when needed — external bank funding typically takes longer to clear.