What is Accelerate's transit number? (Trying to link account to Wealthsimple) | AcceleRate Financial | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
What is Accelerate's transit number? (Trying to link account to Wealthsimple)
March 1, 2021
9:41 pm
piggybank
Member
Members
Forum Posts: 22
Member Since:
September 29, 2020
sp_UserOfflineSmall Offline

I'd like to fund my Wealthsimple account with money from my Accelerate savings account.

But when I try to search for “accelerate”, Wealthsimple has no results.

Accelerate Financial has recently become a part of Access Credit Union. Wealthsimple does have Access Credit Union in the list of banks, but Wealthsimple does not accept Accelerate’s transit number of 44857 (I found this on http://www.findcanadabanks.com.....?bankid=56 and https://bank-code.net/transit-number/credit-union-central-of-manitoba/087944857-routing-number).

Please help.

March 2, 2021
8:47 am
Doug
British Columbia, Canada
Member
Members
Forum Posts: 3646
Member Since:
December 12, 2009
sp_UserOfflineSmall Offline

piggybank said
I'd like to fund my Wealthsimple account with money from my Accelerate savings account.

But when I try to search for “accelerate”, Wealthsimple has no results.

Accelerate Financial has recently become a part of Access Credit Union. Wealthsimple does have Access Credit Union in the list of banks, but Wealthsimple does not accept Accelerate’s transit number of 44857 (I found this on http://www.findcanadabanks.com.....?bankid=56 and https://bank-code.net/transit-number/credit-union-central-of-manitoba/087944857-routing-number).

Please help.  

You shouldn't really use the Canadian Payments Association branch directory or myriad third-party forks for this information, as there may be multiple branches assigned to a given address, so you can't be certain which one your account is domiciled to. You should instead ask your FI. In this case, the institution number will not change as the result of a local credit union merger, as it's assigned to Credit Union Central of Manitoba Ltd. I also suspect that since Access Credit Union does not have a virtual division, though it does accept non-Manitoba residing credit union members virtually from any physical branch transit, it will maintain AcceleRate Financial as an ancillary virtual channel offering, at least in the medium term.

If Wealthsimple is not accepting the branch transit, then that's an error entirely on Wealthsimple's end, and they would need to have their I.T. teams correct that. I'd suggest either (a) cancelling your Wealthsimple Cash account or (b) funding with a different account. Also, keep in mind that Wealthsimple Cash is essentially a brokerage account, held in nominee/street name, with only the payment card, issued by Payments Trust Company, held directly in your name.

If search is by name, have you tried searching for either of Access Credit Union or AcceleRate Financial's former parent, Crosstown Civic Credit Union?

Looking at https://www.crosstowncivic.mb.ca, the merger was officially consummated on 1 January 2021, with the surviving institution being Access Credit Union. They also announced that they will be merging their core banking platform and possibly their online banking system into the Access Credit Union platform/system this spring, so that will likely mean new logins, debit cards, and the like.

Cheers,
Doug

March 2, 2021
9:15 am
piggybank
Member
Members
Forum Posts: 22
Member Since:
September 29, 2020
sp_UserOfflineSmall Offline

Hi Doug,

Thanks for your reply.

Why do you suggest cancelling my "Wealthsimple cash account"? How will that help my problem? I actually don't have a Wealthsimple Cash account. I want to create a link between my Accelerate and my WS to fund my WS Trade account.

March 2, 2021
9:43 am
piggybank
Member
Members
Forum Posts: 22
Member Since:
September 29, 2020
sp_UserOfflineSmall Offline

Accelerate emailed me and said that the branch number is 44857.

If search is by name, have you tried searching for either of Access Credit Union or AcceleRate Financial's former parent, Crosstown Civic Credit Union?

Yes, both Access Credit Union and Crosstown Civic Credit Union show up when you search for them, but Wealthsimple won't accept the transit number of 44857, saying "Invalid transit number for your institution".

Please write your comments in the forum.