Good financial habits run in the family. Get your kids their first card — because the best way to teach them about money is to trust them with it.
First, get them a real-deal card
A screen showing a kids and teens card, with a prompt to add one to an existing chequing account.
Give your kids a physical card they can use at ATMs — and a virtual card they can use on their phone, if they have one. Plus, co-manage their account with a partner.
Read more
Give your kids a physical card they can use at ATMs — and a virtual card they can use on their phone, if they have one. Plus, co-manage their account with a partner.
A screen showing a kids and teens card, with a prompt to add one to an existing chequing account.
A screen showing a kids and teens card, with a prompt to add one to an existing chequing account.
Read more
Give your kids a physical card they can use at ATMs — and a virtual card they can use on their phone, if they have one. Plus, co-manage their account with a partner.
Transfer money in an instant
A screen showing an illustration of a flower, along with a prompt to add money to a kids and teens account.
Show them that good things come to those who wait (and those who save). Schedule allowances and add more when you want — with more ways to move money coming soon.
Read more
Show them that good things come to those who wait (and those who save). Schedule allowances and add more when you want — with more ways to move money coming soon.
A screen showing a growing flower illustration, along with a prompt to add money to a kids and teens account.
A screen showing an illustration of a flower, along with a prompt to add money to a kids and teens account.
Read more
Show them that good things come to those who wait (and those who save). Schedule allowances and add more when you want — with more ways to move money coming soon.
Watch them grow financially (not just on that door frame)
A screen with bar graphs, displaying how much interest in earned each month in a kids and teens account.
Teach your kids how money can make more money. Top up their hard-won savings with parent-paid interest — a little boost to help the lesson stick.
Read more
Teach your kids how money can make more money. Top up their hard-won savings with parent-paid interest — a little boost to help the lesson stick.
A screen with bar graphs, displaying how much interest in earned each month in a kids and teens account.
A screen with bar graphs, displaying how much interest in earned each month in a kids and teens account.
Read more
Teach your kids how money can make more money. Top up their hard-won savings with parent-paid interest — a little boost to help the lesson stick.
Key features of your kid’s chequing account
Get your account started online — it takes less time than prepping an after-school snack.
A chequing account for kids that takes the big banks to school
| Wealthsimple | Big bank kids products | |
|---|---|---|
| Interest rates | Up to 2.25% | 0.01% to 0.4% |
| ATM fees | Reimbursed worldwide | Up to $5 dollars |
| FX fees | 0% | Typically 2.25% |
Plus, even more coming soon:
Interac e-Transfer®
Interac e-Transfer®
Direct deposit
Higher transfer and spend limits
Interac e-Transfer®
Direct deposit
Higher transfer and spend limits
Make their first account the best account
FAQs
Who can open a kids account?
Who can open a kids account?
You, if you’re the legal guardian of a child under the age of majority in your province. (That varies between 18 and 19.) You also need to be a Wealthsimple client with an active chequing account. Otherwise, you’ll have no way to send your kids funds and watch their progress.
What can my child do with their kids account?
What can my child do with their kids account?
They can check their balance, view their transactions, lock their card, and make everyday purchases — either with their physical card or through their Google or Apple wallet. There are some important things they can’t do, like change account settings, spend beyond the limits you set, or unlock a locked card. That stuff is still up to you.
What controls do I have as a parent?
What controls do I have as a parent?
So many! Through your own Wealthsimple account you can set spend limits — either per transaction or through daily, weekly, or monthly caps. You can block certain transaction types, like gaming, and you can get real-time notifications when your child makes a purchase. You can also set a co-manager and give them similar control.
How do I add money to my child’s account?
How do I add money to my child’s account?
You can transfer funds directly from your Wealthsimple chequing account to their account, instantly. You can also set up an allowance to make money movements automatic.
How many kids accounts can I open?
How many kids accounts can I open?
How many kids do you have? If it’s 10 or fewer, you can open a kids account for one under the age of majority in your province. (If it’s 10, you really deserve a medal.) And you can manage them all from your Wealthsimple account.