This is how to withdraw money from wealthsimple as a step-by-step guide.
⚠️ A word of caution before we start caution. ⚠️ Selling investments and withdrawing money from your TFSA, Personal, or RSP accounts is not recommended, and may cause tax penalties and additional fees if you’re not retired.
Also checkout my Wealthsimple Cash review video to get my full unfiltered thoughts on their newest product.
Plus it’s just WAYY better to keep your money invested (and working for you). Time in the market is a better way to invest than trying to time the market’s highs and lows.
Guide How To Withdraw Money From Wealthsimple:
How to withdraw money from Wealthsimple.
Total Time: 3 minutes
Login to your wealthsimple app
Login to your wealthsimple trade, cash, or invest app. It doesn’t matter which app you pick you can withdraw money from all of your wealthsimple accounts from any app.
Select “Move”
Click “move” button in the bottom app bar. Which allows you to move money between accounts and withdraw.
Click “Withdraw Funds”
Click on withdraw funds, not transfer funds.
Choose your from account & to account
Pick which wealthsimple account you want to transfer money out of. And choose the connected back account that you wish to withdraw your money to.
Select how much money you want to withdraw
Pick how much money you want to withdraw. Depending on what account you chose this screen will show you how much money is available to withdraw.
Confirm and submit your withdrawal request
Then you’ll see the confirmation screen and you can hit “submit withdrawal”. Depending on what account you want to withdraw to the processing time can take up to 3 business days. Typically I’ve found that it usually transfers in 1 day.
Claim your 2 free stocks!
If you have not signed up for wealthsimple trade, you should! It’s a great place to invest in low cost index funds like VFV, and VGT. Plus you can get your first 2 free stocks by using this link here.
Tools:
- Wealthsimple trade
- Wealthsimple cash
- Wealthsimple invest
If you’re still having problems and this doesn’t work you can reach out to wealthsimple’s support. It’s not the quickest or most reliable, but they’ll help you eventually.
