Investing

Wealthsimple Trade - funding issues?

  • Last Updated:
  • Feb 17th, 2021 1:07 pm
[OP]
Jr. Member
Mar 18, 2006
144 posts
74 upvotes

Wealthsimple Trade - funding issues?

Is anyone having issues funding their Wealthsimple Trade account? Or even issues linking the funding source account to WST?

I'm in my second month, and have now run into their "electronic wall" of customer service.

Some context:
- now three of us in the household are with WST (let's number these folks 1, 2, & 3).
- 1 got setup with external account A within 5 business days, external account B is still not linked (now in week 7).
- 2 getting same external account A linking issues (external account is joint with 1), WST keep sending "need more information", and when we upload the same bank statement, then we repeat again.
- 3 is joined with 1 on account C. No issues setting this up to fund 3's account at WST.
- if you're not confused yet, accounts B (not working) and C (working) are at the same external branch.

In concept WST seems like easy to follow, setup and start building smaller positions for no fee. But there is no darn way to speak to a human to sort out what they are not seeing (they can't see my account number, because statement has more than 1 account).

The last email that 2 got was funny today "your account number you entered (when linking) doesn't match. Upload a document that proves the number".
Well, we already uploaded the statement (so WST figured out the numbers don't match), but what is the upload document going to fix? It will show the same number. And, I can't change whatever was entered at linkage time (assuming there was a keying error). So really, I am at their mercy to proceed from here.

Anyone else having issues like this?
6 replies
Deal Addict
Dec 4, 2011
1520 posts
973 upvotes
Montreal
Nope, between my spouse and I we have multiple accounts accross Invest, Trade and Crypto. Did not have a single issue linking any bank accounts and funding has been error free as well. They do take a long time to get back to you on that point I agree it is not acceptable at the moment.

Hit them on Twitter with your ticket numbers, they usually get back to you the next business day, only way I found to speed it up slightly.
[OP]
Jr. Member
Mar 18, 2006
144 posts
74 upvotes
admiralackbar wrote:
Hit them on Twitter with your ticket numbers, they usually get back to you the next business day, only way I found to speed it up slightly.
Lucky you! I tried Twitter over the weekend, and they responded on Monday at 5:30 am (EST) that they "will follow up with me directly via email". Nothing yet!

I feel like they have robo customer service (just like robo advisors). These people do not seem to read anything you upload. I just got another "we need more information" email. I don't have any other document to send, so simply uploaded the bank statement again.
Deal Guru
Feb 9, 2009
10662 posts
8997 upvotes
everything works fine with me

My account was set up right away and transfers take 3 business days.

I transferred my TFSA from TD Direct Investing and took 3 weeks... simple. No issues.

Wealthsimple Trade for me so far has been great in terms of funding. I just want real time quotes lol
[OP]
Jr. Member
Mar 18, 2006
144 posts
74 upvotes
And just like that, the WST account for 2 has been linked with external account A. Wow...only took them 7 days, and 9 touch points!

Hope the journey forward is smooth.
Deal Guru
Feb 9, 2009
10662 posts
8997 upvotes
sprinter wrote: And just like that, the WST account for 2 has been linked with external account A. Wow...only took them 7 days, and 9 touch points!

Hope the journey forward is smooth.
you might be an abnormality... i had no issues.
[OP]
Jr. Member
Mar 18, 2006
144 posts
74 upvotes
Sanyo wrote: you might be an abnormality... i had no issues.
I must be....because when I checked, they linked the wrong account!

Oh, the fun continues Neutral Face

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