Set up a recurring transfer from your Cash account

Recurring transfers allow you to choose when and how often you want to invest your funds into another Wealthsimple account from your individual or joint Cash account.

You can set up a recurring fund transfer to any of these account types from your individual or joint Cash account:

• TFSA
• RRSP
• FHSA
• Crypto
• RESP
• Individual or joint non-registered account
• Another individual or joint Cash account

Your funds will transfer instantly to the destination account on the recurring schedule you choose. You can also cancel your recurring transfer any time before the date of your next scheduled transfer.

Tax considerations

Some accounts have maximum contribution limits and tax considerations. Before you transfer funds, you can learn more about these considerations.

Set up a recurring transfer from your Cash account

You can only set up recurring transfers from your Cash account on the web. They aren’t available on the Wealthsimple mobile app yet.

To set up a recurring transfer between Wealthsimple accounts:

1. Log in to your Wealthsimple account
2. Select Add money from the Home page
3. Choose a Cash account as the funding source (From)
4. Choose a destination account (To)
5. Enter an amount to transfer
6. Open the Date selector to choose a date to initiate the transfer on
7. Open the Frequency selector and choose when the transfer will recur (Weekly, Bi-weekly, or Monthly)
8. Select Next
9. Review your recurring transfer and select Submit

Note: If you don’t see the Date or Frequency selector, you may not have an eligible account selected for recurring transfers. Please review the eligible accounts you can transfer into.

Cancel a recurring transfer from your Cash account

You can cancel a recurring transfer from your individual or joint Cash account before the date of your next scheduled transfer.

Note: If you cancel the recurring transfer schedule on the date of your next scheduled transfer, your transfer will still be processed. Please ensure to cancel before the scheduled date.

To cancel a recurring transfer from your individual or joint Cash account:

1. Log in to your Wealthsimple account
2. Select the Activity tab at the top of the page
3. Select the Scheduled activities button at the top of the page
4. Choose your desired recurring transfer to cancel
5. Select Cancel, then Confirm