How long does it take to withdraw money from Wealthsimple?

Withdrawing your funds from the Wealthsimple trading platform can take up to five business days, although in many cases it can take as little as one to two business days.

The financial markets were closed on August 2 for the Simcoe Day holiday, so this might have added to the longer-than-expected wait time.

Depending on the payment method and your bank's procedures, withdrawals take anywhere from seven to ten business days to complete. They always aim to transfer your money out within five business days, but it can take some time if you have active trading on your account.

Allow an extra day if there is a bank holiday during this period because it extends the selling process by one day.

The Withdrawals Page displays the scheduled date and status of your withdrawal. If your withdrawal has vanished from the withdrawals page, check your activities page to see whether the money has been transferred.

If you don't receive your withdrawal within the timeframes described above or if you have any queries, don't hesitate to get in touch with support@wealthsimple.com!

How do you make a withdrawal from your Trade account?

Through the Web

1. Sign in to your Trade & Crypto profile on my.wealthsimple.com and log in to your account.
2. From the top menu bar, select Move funds.
3. Select "Withdraw funds" from the drop-down menu.
4. Select from the account you want to withdraw from.
5. Place the funds in your bank account that you want to transfer them into.
6. Select the amount you want to withdraw.
7. Please continue to the next page.
8. Fill out the form on the right, then click Submit Withdrawal.

Mobile App

1. On your mobile device, open the Trade app and log in.
2. Tap the Move tab at the bottom of the screen.
3. Choose Withdraw funds
4. Choose an account to withdraw from
5. Choose the amount to withdraw
6. Choose which bank account will receive the money.
7. Click the Submit withdrawal button to verify details and make a withdrawal.

The details

• The funds in your Wealthsimple Trade account must be there for a minimum of five business days before they can be withdrawn.
• A daily withdrawal limit of $25,000 applies to Wealthsimple Crypto accounts.
• There are no restrictions on the amount or frequency of withdrawals once your funds have passed the five-business-day settlement period.

What if your available balance to withdraw is less than your cash balance?

It may be for one of the following reasons if your Available to Withdraw amount is less than the cash balance in your account:

• You have an outstanding buy or sell order.
• You've made a recent trade, and the cash hasn't settled in your account for the required two business days.
• You've recently deposited money into your account that's been there for less than 5 business days. New deposits must wait 5 business days before they can be withdrawn as internal risk control.