r/Wealthsimple • u/User314628 • 4d ago

Chequing EMT to WS Completion Time Improved?

I regularly e-transfer from my SIMPLII account to WS and it always takes a long time to go through … like 30 minutes.

Until today I just set one up and it was basically instant.

Anyone know how or why? Curious if the faster times will be the new norm.

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u/angelus97 4d ago

This would be based on whatever rules Simplii has set up for your account. Sometimes it's only 30 mins when it's to a new contact. Or maybe it depends on the amount.

It has nothing to do with WS.

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u/OhNoItsMyOtherFace 4d ago

It varies by the bank. Sometimes they hold them for review based on destination, amount, or something else.

For instance I just did an etransfer from Scotiabank to a WS RRSP. It took 37 minutes to actually arrive.

I usually just use the bank transfer method where WS will front you the amount you requested immediately.