Earn up to 4.25% interest with Wealthsimple Cash, plus get a $50 bonus
New to Wealthsimple? We'll give you a $50 cash bonus when you open your first Wealthsimple account through this page and fund at least $500 within 30 days. T&Cs apply. Get up to 4.25% interest on your Cash account today.
Interest rates that grow with your wealth
Better than a bank? You decide.
Open an accountNo monthly fees
All the flexibility of a chequing account. None of the monthly fees.
Steadfast interest rates
Our rates aren’t promotional or subject to opening additional accounts. Instead, we follow the Bank of Canada’s rate. If it rises, we rise too (and vice versa).
Direct deposit perks
Get extra perks — like auto-investing, faster access to your paycheque, and 0.5% more interest (up to 4.25%) — with qualifying direct deposits. T&Cs apply.
NEW FEATURE
Manage your money with more accounts
Save for a house, a solo vacation, or keep your tax money separate. Whatever your goals, open multiple Cash accounts, by yourself or with someone else.
Ready to break up with your bank?
Open an account in minutes. You can start spending, saving, and earning right away — no branch visits required.
FAQs
New Wealthsimple clients who open a Wealthsimple account using an affiliate link and fund at least C$500 to the account within 30 days of account opening will receive a C$50 cash bonus. Limit one (1) bonus per client. Must be age of majority and resident of Canada. Additional conditions apply. Wealthsimple will pay the affiliate a one time fee when the new client signs up for a Wealthsimple account through the affiliate link. Full referral details and offer terms at
Customers who receive a bonus payment must keep the $50 bonus in their Wealthsimple account for 180 days from the initial funding date. If this condition is not met, the bonus payment will be deducted from the final withdrawal amount or otherwise recovered by Wealthsimple.
Unlike some high interest rate offers you might see out there, ours don't end after a limited promotional period. There’s always a chance the Bank of Canada makes a move and we follow suit, but we have no set end date for these great rates. Your interest is an annualized rate, calculated daily and paid out monthly. See here for details.
The balance in your Wealthsimple Cash account is held in trust for you with members of the Canada Deposit Insurance Corporation (CDIC), a federal Crown corporation. CDIC protects eligible deposits held at CDIC member institutions in case of a member institution’s failure.
Note: Wealthsimple isn’t a bank, and we are not a CDIC member. That said, we’ve partnered with a number of CDIC-member, federally regulated Canadian Financial Institutions to effectively extend CDIC deposit protection to WS Cash account holders for a combined amount (up to $500,000 CAD) in the unlikely event the CDIC members were to fail.
Coverage is free and automatic. Learn more here.
That's right. Our data was collected as of November 15, 2023. Average includes all posted rates of chequing accounts from Canadian financial institutions as listed under Schedule I under the Bank Act. This excludes limited-time and promotional offers, and products that do not offer cheques.
We don't charge any monthly account fees or minimum balance fees.
We don't charge a foreign transaction (FX) fee. Usually, banks charge you around 3% to use your Canadian credit card in another country. We, on the other hand, don't do that. There is still a 1% currency conversion fee charged by Mastercard (not us!) when you make a purchase in another currency.
We don't charge ATM fees. The ATM might though, so make sure you check the number on the screen (and do the currency conversion) before withdrawing.
First off: there are no annual fees! And unlike credit cards, the Wealthsimple card doesn’t require a credit check or any other qualifications.
And no, you’ll never need to worry about this card impacting your credit score.
All Core and Premium clients are eligible to earn an increased rate of up to 4.25% interest with direct deposits. To qualify and continue earning the 0.5% boost, you’ll need to direct deposit at least $2,000 into your Cash account within a 30-day period. Generation clients won’t be eligible for an additional 0.5% boost since they're already earning our highest interest rate of 4.25%.
You are being referred to Wealthsimple Inc. (“WSI”) and its affiliates including Wealthsimple Payments Inc. (“WPI”) and Wealthsimple Investments Inc. (“WSII”) by the owner of this promotion that is directing you to this page (the “Sponsor”). The Sponsor may receive compensation in the form of a referral marketing fee of up to $1,250 when you participate in this Promotion by clicking through this page. WSI (operating Managed Investing products) is registered as a portfolio manager in each province and territory of Canada. WSII (operating Self-directed Investing and Crypto products) is a registered investment dealer in each province and territory of Canada, and is a member of the Canadian Investment Regulatory Organization. WPI (operating Cash product) is registered with FINTRAC as a money services business in Canada. The Sponsor is not registered in any capacity. All activities under this referral arrangement with the Sponsor requiring registration will be performed by Wealthsimple, WPI, WSII, or a registered affiliate. The possibility of a conflict of interest may arise in any paid referral arrangement. In this case, the Sponsor is receiving a fee for referring you to Wealthsimple and the fee may have impacted their decision to refer you. However, neither the Sponsor nor Wealthsimple are aware of any actual or potential conflict of interest as a result of your referral.
All investment involves risk. The value of your portfolio with Wealthsimple and its affiliates can go down as well as up and you may get back less than you invest. Past performance is no guarantee of future results. For more information about Wealthsimple’s products, investment decisions, fee schedules, user testimonials, promos & more, visit wsim.co/disclaimers. By using this website, you accept Wealthsimple’s Terms of Use and Privacy Policy.