On the same day as your pay date, a sum equal to all of your employees contributions and employer matching contributions will be transferred from your company's bank account to ShareOwner, Wealthsimple's custodian.
In other words, whatever amount surfaces on your dashboard will be automatically processed by Wealthsimple!
Let take the example below. On January 1st, a total of $7,405.77 will be pulled from the employer account and processed according to the employee breakdown underneath.
This process is done through an electronic fund transfer.
Once the money is received, we will invest your employees' money.