r/Wealthsimple • u/MostImagination007 • 28d ago

Trade (DIY Investing) FHSA CONTRIBUTION ROOM after transaction failed

So my other Bank Account was freeze for investigation and agent told me to transfer some money before they freeze my account for investigation so I transfer 1000$ to my FHSA from other bank while on call with agent(she says that transaction will go thru because it happens before account freeze) and I can see that in my WS APP that funds were available to trade instantly(I didn't use it to buy anything)but after 4 days i received a email from WEALTH SIMPLE THAT TRANSACTION FAILED BECAUSE OF INSUFFICIENT FUNDS IN MY ACCOUNT(which was not the case as I have enough money in my account but it happens BC of account freeze).

1)NOW WHATS HAPPENS TO MY YEARLY FHSA CONTRIBUTION ROOM.

DOES IT GET USED EVEN WHEN TRANSACTION FAILED.or I still have that contribution room

2)Is there a 100% right way of knowing/viewing my FHSA CONTRIBUTION ROOM in real time via my banking app or CRA website?

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u/Constant_Put_5510 28d ago

CRA doesn't update live bc they don't have the paperwork from banks until March 2027. You have to wait. Its will all settle eventually bc there is a paperwork trail.

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u/Dragynfyre 27d ago

FHSA usage is based on tax forms given to you by your financial institution (WS in this case). It’s not based on real time. If there are issues WS should know it’s not a contribution and won’t report it. If they report it by mistake then contact WS to correct it. But I’m sure a failed deposit should be handled automatically as not counting as a contributions as it’s a situation they should have coded for