Wealthsimple prepaid Business Visa* card
Earn 1% cash back on every purchase and pay no FX fees. No application, no waiting. That’s a card that pays you back.
*Trademark of Visa Int., used under license.
Fees, rates, and qualifications
So, who’s eligible for our prepaid business Visa card? If you have a business chequing account with us, you can have this card. No application or credit check needed.
$0 monthly fee
With no monthly account fees and no account minimums, clients save $230 per year on average.
0% FX rate
Unlike other cards, we don’t charge a foreign transaction fee.
$0 ATM fees
We don’t charge ATM fees, and we’ll reimburse you if they charge you.
Card benefits and features
1% cash back on everything
Not capped and not limited to specific categories. Every dollar you spend earns cash back paid straight back into your business chequing.
Free ATM withdrawals
Pull cash from almost any ATM in the world and we’ll reimburse you the withdrawal fee.
No virtual tap limit
Tap as much as you want, for as much as you want, with your virtual card and never worry about hitting a limit (up to the transaction or daily spend limit).
Security that lives in your app
Lock and unlock the card in a tap, and get a notification for every transaction the moment it happens.
FAQs
Is the prepaid business Visa a credit card?
Is the prepaid business Visa a credit card?
No. It's a prepaid card that spends directly from your business chequing balance, so there's no balance to pay off, no interest, and no statement. That's also why there's no credit check and no application to wait on — if your business chequing account is open and funded, the card works.
Do I need to load money onto the card?
Do I need to load money onto the card?
No. This isn't a reloadable gift card. The card pulls straight from the business chequing account it's linked to, every time you tap or check out online. There's no separate card balance to top up and no second balance to track.
How does the 1% cash back work?
How does the 1% cash back work?
You earn 1% cash back on every purchase — not capped, not tiered, and not limited to select categories. Cash back accumulates in your account and you redeem it into your business chequing whenever you want, as often as you want. Cash-like transactions, bill payments, pre-authorized debits, gift card purchases, refunds, and fees don't earn cash back.
What does the card cost?
What does the card cost?
Nothing. No annual fee, no monthly fee, and no fee to order or replace it. You also don't pay a Wealthsimple markup on foreign currency purchases, and we reimburse ATM fees.
Can I use it at an ATM?
Can I use it at an ATM?
Yes. You can withdraw cash from your business chequing account at any ATM, and we reimburse the ATM operator's fee — unlimited reimbursements, regardless of the amount, paid back to your linked account within 4 business days of the transaction settling.
Who can get a prepaid business Visa?
Who can get a prepaid business Visa?
Any Wealthsimple Business client with a business chequing account. There's no credit check, no income minimum, and no requirement to have been incorporated for any length of time.
How soon can I start spending?
How soon can I start spending?
Right away. Your virtual card is issued as soon as you request it, so you can add it to Apple Pay or Google Pay and spend the same day. Your physical card arrives in the mail and you activate it in the app.
Can I get more than one card, or cards for my employees?
Can I get more than one card, or cards for my employees?
Each business gets one card. Employee and multi-owner cards aren't available yet.
Can I connect it to my accounting software?
Can I connect it to my accounting software?
Yes. Connect your business chequing account to QuickBooks or Wave and card transactions flow through with the rest of your account activity.