Wealthsimple iOS Update Now Lets You Make Withdrawals from the App

Wealthsimple ios app update

Toronto-based fintech and ‘robo advisor’ Wealthsimple has updated its iOS app, to now allow for investors to make withdrawals.

Previously, moving money was only available on the company’s website but now the functionality is available in the iOS app.

To make a withdrawal in the Wealthsimple iOS app, just tap the gear icon in the top right, and select Withdrawals. You’ll be asked which account you want to withdraw from, while the company notes “some account types aren’t supported on the mobile app right now.”

The app also asks some questions about why you’re withdrawing money and also about tax implications if you’re taking out from a TFSA, for example. Withdrawals can take up to five business days, says Wealthsimple.

Wealthsimple is an investment service targeting millennials and other investors looking for automatic investing and simple account management from an app or the web.

The service supports automatic contributions with dividend reinvesting and automatic rebalancing for low-fee exchange-traded funds (ETFs). It also supports a variety of different accounts, such as RRSP, TFSA, Personal, RESP, RRIP, LIRA, Joint and Corporate accounts.

Click here to sign up for Wealthsimple and get a bonus $10,000 in free managed investments for a year.

Wealthsimple is an affiliate partner of iPhoneinCanada.ca.

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