We pride ourselves on making things easy at Wealthsimple. We even put “simple” in our name. Which is why we’re proud to announce that it just got easier, quicker, and less hassle-y to open an account with us. We simplified the sign up process and added a cool new feature that lets you link your existing bank account to Wealthsimple virtually instantaneously. Now you can start investing in the time it takes to crawl out of bed and make your morning coffee.
OK, so it’s not like you used to have your DNA sequenced before we let you take money out of your bank and put it into one of our accounts. But the process of authenticating your account did take a little bit of paperwork. You had to mail in a $1 check, scan a voided cheque, or upload a form of documentation to verify that you are actually, you know, you. That was time-consuming—it sometimes took days—and we know that scanning a check isn’t on your top ten list of fun things to do on a sunny summer afternoon. But now we’re using technology from one of our favorite tech firms—Yodlee, a company that works with everyone from Tangerine to Royal Bank—to provide safe, secure automation of our bank-verification process. And it happens just as soon as you hit “enter.”
Did we mention that besides being extremely fast and efficient, this new feature is completely secure? It’s the same authentication process many larger (and way more expensive, when it comes to fees) financial institutions use.
So exactly what do you need to do to open an account with us now? Click the “Start investing” button at the top right corner of our homepage. You’ll take a risk survey—where we learn your investing experience, your financial goals, etc.—so we can better understand what kind of investing is appropriate for you. Then you’ll fill out all the standard stuff: legal name, address, email, etc. We made these process shorter and smarter so you don't waste more of your life filling out paperwork. And, finally, when it comes time to verify your bank account, all you’ll need is the same info you normally use to sign into your bank. You’ll be prompted for this information, you’ll log in, and presto: You’re verified. Now you can start taking care of Future You immediately.