Wealthsimple Trade App Now Works with Any Canadian Bank Account

Last month, Toronto-based Wealthsimple launched their unlimited $0 commission stock trading app, Wealthsimple Trade for iOS and Android users, to buy and sell ‘thousands’ of Canadian and U.S.-listed stocks and ETFs.

During the beta and launch, only big Canadian banks worked with the app, including TD Canada Trust, Royal Bank of Canada, CIBC, Tangerine, Bank of Montreal, Scotiabank, Desjardins, and Simplii Financial.

But in an update released today, Wealthsimple Trade now works with any Canadian bank.

Wealthsimple trade any bank

“We’ve added new ways to link a bank account to your Wealthsimple Trade account. You can now manually add any bank account — regardless of where you bank — from the Account section of your app. No online banking log in required,” explains the update. The other connections to big Canadian banks used San-Francisco-based Plaid to link your accounts.

The ‘Add bank account’ section now includes a search bar for you to find your bank. Once you’ve done so, all you need to do is supply your bank account details (transit number; account number) and a photo of a bank document (void cheque; bank statement or direct deposit form to verify it’s your account), which you can do so right within the app.

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