Offers
Welcome Offer
New Wealthsimple clients who open and fund their account with at least $1 within 30 days will receive a $25 cash bonus from Wealthsimple.
Account Features
The Wealthsimple chequing account earns 1.25% on all deposits, regardless of the total balance. Premium clients, who have at least $100,000 in Wealthsimple will receive 1.75% interest, and Generation clients, who have at least $500,000 in Wealthsimple will receive 2.25% interest.
Core and Premium clients are eligible to earn a 0.5% interest rate boost with direct deposits. To qualify and continue earning the 0.5% boost, you’ll need to direct deposit at least $2,000 into your Wealthsimple chequing account within a 30-day period. This can be your paycheque or any other type of direct deposit.
All interest is calculated daily and paid monthly, directly to the Wealthsimple Chequing account.
This account also has unlimited transactions for sending and receiving money, paying bills, and depositing paycheques, and unlimited free Interac e-Transfers®, bill payments, and debit transactions.
Fees
ATM Fees
The Wealthsimple chequing account has no ATM fees including access to 60,000 ATMs across Canada. Additionally, you will be reimbursed for third-party ATM fees globally for an unlimited number of transactions. Reimbursements will be made to the account linked to the prepaid Mastercard within 4 business days after the ATM transaction settles. For more information, see Wealthsimple’s ATM fee reimbursement policy.
Foreign Transaction Fees
There are no Foreign Transaction (FX) fees for purchases made in a foreign currency with the Wealthsimple prepaid Mastercard linked to your chequing account.
Monthly Fees
The Wealthsimple chequing account has no monthly fees.
Awards
As part of Frugal Flyer’s 2026 Best Bank Account Awards, we selected the Wealthsimple platform as the Best Digital Banking Experience.
