How to Withdraw Money from Wealthsimple?

Questions & AnswersCategory: WealthSimpleHow to Withdraw Money from Wealthsimple?
Emy asked 2 years ago
Hello, I’ve invested a bunch of money with WealthSimple, but now I need it back.
How can I do? Thanks

1 Answers
Francesca Staff answered 2 years ago
Wealthsimple is a Canadian investment platform that is dedicated to making financial investments easy and simple for everyone.

This internet-based investments website was created by Michael Katchen and has accumulated over $5 billion in assets as it allows people from non-financial backgrounds to invest their money in the right places for maximum benefits.

True to its name, Wealthsimple has made it simple for people in Canada to accumulate their wealth by investing in high-profit securities. It allows people of all ages (above 18) a safe platform to save money and make the right steps to long-term financial security. On the website, you can buy and sell hundreds of stocks without any extra fees charged. You can also use the website to build your own financial portfolio and buy shares in companies that you predict to be successful in the near future.

One of the best features of Wealthsimple is that it offers a customer-friendly website design. This allows individuals who aren’t too tech-savvy to navigate through the website and invest their money in the best way possible.

Steps to Withdraw Your Money from Wealthsimple

Wealthsimple is dedicated to offering its customers ease and convenience as they manage their money. That is why they have ensured that the withdrawal processes are as simple as the depositing processes, allowing customers a worry-free approach to investing their money.

If you wish to withdraw your money from your Wealthsimple account, follow the steps mentioned below.
Step 1 – Log in to your Wealthsimple account by entering your username and password. You can do this on your preferred choice of a web browser over your phone or even your computer.
Step 2 – Once you have logged in to your account, look for the Funding tab at the top left corner of your profile.
Step 3 – Click on the Funding tab. The page will automatically be redirected to a different webpage.
Step 4 – Select the centre tab, called Withdraw Funds, on the Funding page. This will show you a list of your accounts on Wealthsimple.
Step 5 – Select the account that you wish to withdraw funds from. 
Step 6 – Once you have selected the account, Wealthsimple will ask you to enter the amount that you wish to withdraw.
Step 7 – Type in the amount of money you would like to withdraw and click on Set Withdrawal.

That’s it! Through these simple steps, you can quickly withdraw funds from your Wealthsimple account whenever you like. However, it is important to keep in mind that Wealthsimple requires up to 5 business days to process a withdrawal. So, you can expect the funds to reach your bank account in a similar amount of time.

The processing time can sometimes be delayed due to regulatory requirements and checks conducted by the banking institutions in Canada. If you have been waiting for your funds for over a week, it is best to reach out to the customer support representatives at Wealthsimple and lodge a complaint. 

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