Wealthsimple Cash Card Cardholder Agreement
Your acceptance and use of your Card as applicable, is subject to the terms set out in this Agreement. By using your Card or allowing anyone else to use your Card, you are agreeing to the terms and conditions and fees outlined below.
IMPORTANT INFORMATION ABOUT YOUR WEALTHSIMPLE CASH CARD
Card Expiry and Access to Balance: Your right to use the funds in your Cash Account accessible through the Card will not expire. After the “good thru” date, simply contact customer service at 1-855-255-9038 for instructions on how to receive a replacement Card.
Fees: By applying for and using your Card, you agree that you have been advised of the Fees and you agree to pay all Fees charged under this Agreement. The Fees are subject to change. You will be notified in advance of these changes so please keep the contact information associated with your Card up-to-date.
SCHEDULE OF FEES AND CHARGES
Spending with your Card
Purchases in foreign currencies[1] other than CAD: 0%
This is our fee. You may be charged a fee by any retailers or financial institutions involved in your transaction. This includes any purchases made at a POS terminal or online, including Apple Pay Samsung Galaxy Pay, Google Pay™, and tap.
ATM withdrawals within Canada[2] : $0
This is our fee. You may be charged a fee by the ATM provider.
ATM withdrawals outside of Canada[2]: $0
Card Information and Balance. For up-to-date Card terms and conditions, to obtain the expiry date of your Card, or to check your available Balance in your Cash Account, you will need to download Wealthsimple Cash App which is available on the App Store, Samsung Galaxy Store or Google Play™, go online at ws.cash, or call customer service’s toll-free number at 1-855-255-9038.
Card Restrictions. Cardholders must be of age of majority in the province or territory where they reside and are restricted to one Card per person.
Use of your Card in certain countries may be restricted by Applicable Law. Your Card may be deactivated at any time if fraud, related to your Card or use of your Card, is suspected. You may not use your Card to commit or facilitate any illegal or prohibited activity. The Card is subject to maximum transaction limits, as set out below. Peoples Trust Company may change these limits in accordance with Applicable Law and will post notice on https://www.wealthsimple.com/en-ca/product/cash/ at least thirty (30) days in advance of the date such change is to come into effect. The change will take effect on the date indicated in the notice. Your continued use of the Card, after the change to the limits has come into effect, will be taken as your acceptance of that change. Your Card (or Card number) cannot be used for “cashback” transactions where a merchant charges you an amount greater than the price of the goods and services purchased. Your Card may also not work at unattended terminals (such as parking or pay at the fuel pump stations).
Who Issues Your Wealthsimple Cash Card: The Card is issued by Peoples Trust Company pursuant to licence by Visa International Incorporated. This Agreement is between you and Peoples Trust Company. Wealthsimple is a distributor of the Card. Wealthsimple is a service provider for Peoples Trust Company for the purposes of managing some aspects of the Card, such as providing Balance information to you and delivering communications from Peoples Trust Company to Cardholders through the Wealthsimple Cash App or using contact details provided through the Wealthsimple Cash App. Where relevant to our relationship with you those services are referenced in this Agreement. Wealthsimple may offer and provide services to Cardholders as a service provider to the Cardholders, and not on behalf of Peoples Trust Company. Those Wealthsimple services provided to you by Wealthsimple are subject to agreements, if any, between you and Wealthsimple. PEOPLES TRUST COMPANY DOES NOT PROVIDE THOSE WEALTHSIMPLE SERVICES AND IS NOT RESPONSIBLE FOR THEM, OR ANY LOSS, HARM OR DAMAGE OF ANY KIND YOU MAY SUFFER AS A RESULT OF USING WEALTHSIMPLE SERVICES ON ANY THEORY OF LIABILITY, LEGAL, EQUITABLE OR OTHERWISE.
Who Holds the Balance in your Cash Account: The Wealthsimple Cash product and the Cash Account is offered and administered by Wealthsimple Payments Inc., a money services business registered with FINTRAC. The Balance in your Cash Account is held by the institution named in the Wealthsimple Cash Account Agreement. Peoples Trust Company does not hold the Balance in your Cash Account. The Card enables you to access the Balance in your Cash Account as long as you act in accordance with this Agreement.
Who Administers your Cash Account: Wealthsimple administers your Cash Account and connects with third parties to bring you the spending features of your Cash Account (such as Direct Transfers, bill pay, and e-transfers).
TRANSACTION LIMITS* Spending
Point of Sale (POS), includes online transactions:
Daily: $5,000
ATM Withdrawal:
One-time: $500
Daily: $1,000
Maximum of 3 withdrawals a day
Transfers
Direct Transfer (as identified by merchant codes):
Daily: $100,000
30 days: $200,000
Usage
Point of Sale (POS), includes online transactions:
Daily: 20 transactions
30-days: N/A
ATM Withdrawal:
Daily: 3 transactions
30-days: N/A
Direct Transfer, as identified by merchant codes:
Daily: 10 transactions
30 days: 100 transactions
* These limits are determined based upon our risk management and financial crime compliance policies and may change from time to time. Peoples Trust Company uses a 30-day rolling window to enforce these limits. This chart is representative and reflects the limits at the time of publication of this Agreement. Current limits and a full copy of this Agreement are always available at ws.cash. You should regularly check these limits to ensure you have current information and monitor your Wealthsimple Cash App notifications for changes.
Lost or Stolen Cards: You must take all reasonable steps to protect your Card and/or PIN against loss, theft or unauthorized use. You should not maintain a written record of, or disclose the PIN to a third party, including family members and friends. Avoid PIN combinations that may be easily guessed by others. If you lose your Card and/or PIN or you become aware that your PIN may have become known to someone else, or if you have reason to believe that someone has made an unauthorized transaction with your Card, or may attempt to use your Card without your permission, you must IMMEDIATELY lock your Card in the mobile application or by calling our automated phone system at 1 877 868 0854. Once your card is locked or re-issued, please contact our customer service team via our Website or by calling 1-855-255-9038 Monday to Friday between 9am-5:30pm eastern standard time. If you do not notify Wealthsimple IMMEDIATELY then all transactions carried out with your Card before you notify us will be considered to have been made by you.
Split Tender Transactions: If the Balance is not sufficient to cover the full point of sale transaction amount, you may ask the merchant if they will accept a split tender transaction. A split tender transaction allows you to use the remaining Balance to pay for part of the transaction amount and cover the difference with another form of payment (e.g. cash, cheque, credit or debit). If you fail to inform the merchant that you would like to complete a split tender transaction prior to using your Card, your Card may be declined. Merchants do not have to and may not agree to accept split tender transactions.
Personal Information: By registering for Wealthsimple Cash, you consent to the collection, use, disclosure and retention of your personal information by Peoples Trust Company and its service providers as described below. If you do not consent to the collection, use, disclosure and retention of your personal information, you may not apply for or use a Card.
Key Cardholder Responsibilities under this Agreement:
You must take all reasonable steps to protect the Card (and PIN, if applicable) against loss, theft, or unauthorized use. If you lose the Card (or PIN), you must call customer service immediately.
You must activate the Card as instructed upon receipt of the Card.
You must surrender the Card to us immediately upon request by us.
You must ensure that there is a sufficient Balance to cover the full amount of transactions made with the Card.
If your information associated with the Card changes, you must notify us of the change(s).
If you become aware that your information associated with the Card is incorrect, you must notify us of the correct information.
If you find an error in any transaction record, you must communicate the error to the merchant with whom you made the transaction.
If you wish to dispute a transaction on your Card, you must notify us in writing of your dispute within sixty (60) days of the transaction date.
You must only use our online resources as set out in ‘Website and Availability’, below.
DETAILED TERMS AND CONDITIONS DEFINITIONS
“Agreement” means this Wealthsimple CashCard Cardholder Agreement between Peoples Trust Company and the Cardholder and all documents that are expressly referred to in this Agreement, which govern your use of the Wealthsimple Cash Card.
“Applicable Law” means the Trust and Loan Companies Act (Canada), The Personal Information Protection and Electronic Documents Act (Canada), the Act Respecting the Protection of Personal Information in the Private Sector (Québec), the Consumer Protection Act (Québec), the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, Canada’s Anti-Spam Legislation (CASL), PCI DSS or any other statute, regulation or operating rule of any Governmental Authority or any other regulatory authority that Peoples Trust Company and Wealthsimple are subject to, or any bylaw, operating rule or regulation of Visa.
“ATM” means an automated teller machine.
“Balance” means the funds available in your Cash Account.
“Canada’s Anti-Spam Legislation (CASL)” means an Act to promote the efficiency and adaptability of the Canadian economy by regulating certain activities that discourage reliance on electronic means of carrying out commercial activities, and to amend the Canadian Radio- television and Telecommunications Commission Act, the Competition Act, the Personal Information Protection and Electronic Documents Act and the Telecommunications Act (Canada), and its regulations, as may be amended from time to time.
“Card” means a Wealthsimple Cash Card, both physical and virtual, which you may use to access the Balance in your Cash Account.
“Cardholder” means you, or any other individual who requests, activates, receives or uses the Card.
“CashAccount” means your Wealthsimple Cash Account which stores the Balance accessible with your Card.
“Direct Transfer and Payment Details” means the transit, institution and “Account” numbers available through the Wealthsimple Cash App to permit Direct Transfers and Pre-Authorized Debit transactions to be processed. The “Account” number provided refers to a payment processing account that we create for our own use only, to allow us to process Pre-Authorized Debit payments chargeable to your Cash Account and Direct Transfers to your Cash Account. It does not reference a deposit account with Peoples Trust Company held by you or for your use.
“Direct Transfer” meansa form of transfer where you enter into a direct credit arrangement with your employer or Governmental Authority so that your payroll or Governmental Authority payment is directly transferred to your Cash Account.
“FINTRAC” means Financial Transactions and Reports Analysis Centre of Canada.
“Governmental Authority” means any federal, provincial, territorial, regional, municipal or local governmental authority, quasi- governmental authority (including the Office of the Superintendent of Financial Institutions), government organization, commission, board, professional agency, tribunal, organization, or any regulatory, administrative or other agency, or any political or other subdivision, department, or branch of any of the foregoing, in each case to the extent it has jurisdiction over Peoples Trust Company and/or Wealthsimple or any Person, property, transaction, activity, event or other matter related to this Agreement. The above definition is deemed to include any interim or permanent transferee or successor of a Government Authority’s underlying mandate, function or activity.
“Net Purchase” means the full amount charged to a Card for a purchase of goods and/ or services made by a Cardholder, excluding: (i) returns; (ii) cash advances, (iii) interest charges; (iv) fees; (v) adjustments; (vi) balance transfers; and (vii) payments.
“PCI DSS” means a multifaceted security standard defined by Payment Card Industry Security Standards Council and includes requirements for security management, policies, procedures, network architecture, software design and other critical protective measures
“Person” means an association, a corporation, an individual, a partnership, a trust, an unincorporated organization or any other entity or organization.
“PIN” means a Personal Identification Number used with your Card at ATMs for additional security.
“POS” means point of sale, where you can use the Card to purchase goods or services from a merchant.
“Pre-authorized Debit” means a form of payment where you enter into a pre-authorized debit (PAD) agreement with a biller and provide payment details so that the biller can pull funds to their bank account to pay your bills, and have the amount charged to your Cash Account. You may also enter into a pre-authorized debit agreement with other financial services providers to manage your finances, for example, to move funds from your Cash Account into your investment accounts. For convenience, all service providers who pull funds from your Cash Account under a PAD agreement are referred to as a “Pre-authorized Debit Payee” in this Agreement.
“Shareowner” means Canadian ShareOwner Investments Inc.
“Transaction Amount” means the amount that is debited from the Balance in connection with your use of the Card, which includes the amount of the Balance to be transferred from your Cash Account, the Card service charges and the taxes imposed to complete the transaction.
“Visa” means Visa International Incorporated and its successors and assigns.
“Visa Conversion Rate” means the rate that we pay to Visa to convert foreign currency to Canadian currency plus foreign exchange transaction fee.
“we”, “us”, “our”, and “issuer” each mean Peoples Trust Company and our successors, subsidiaries, affiliates or assignees.
“Wealthsimple” when referred to as a person or entity, means Wealthsimple Payments Inc. and its successors, subsidiaries, affiliates or assignees.
“Wealthsimple Cash App” means the Wealthsimple Cash web and mobile application operated by Wealthsimple and available from the App Store, Samsung Galaxy Store or Google Play™.
“Wealthsimple Cash” means the Wealthsimple Cash product.
“Wealthsimple Cash Account Agreement” means the agreement entered into by and between you and Wealthsimple Payments, Inc. for a Wealthsimple Cash Account.
“Website” means the ws.cash website operated by Wealthsimple Technologies Inc.
“You”, “your”, and “yours” mean the Cardholder and any other person the Cardholder allows to use the Card, whether or not permitted by the Agreement.
Wealthsimple Cash Card Use
Acceptance: This Agreement constitutes a binding agreement between you and issuer with respect to the terms of use of the Card. By accepting and/or using your Card you agree to be bound by and accept the terms and conditions set out in this Agreement.
Use and Ownership of Your Wealthsimple Cash Card: Only people who can lawfully enter into contracts and are the age of majority in the Canadian province or territory where they live can have a Card. We or Wealthsimple may refuse to issue a Card to you or allow you to use your Card to make a purchase at any time and for any reason. The Card is owned by us and will remain our property. Wealthsimple will mail the Card to the address you provide or have previously provided to Wealthsimple. You will be solely and completely responsible for the possession, use and control of the Card. If we or Wealthsimple request it, you must return the Card to us immediately. Your Card may not be used for any illegal transactions or purposes. If you authorize another person to use the Card you agree, to the extent permitted by Applicable Law, that you will be liable for all transactions arising from use of the Card by such person.
Wealthsimple Programs and Products: From time to time Wealthsimple may offer special programs or products to users of the Card and the Wealthsimple Cash App. Programs and products offered by Wealthsimple are not features of the Card and are not contained in this Agreement. Wealthsimple programs and products, including Wealthsimple Cash, are not offered or funded by us and we are not responsible for them; they are subject to agreement between you and Wealthsimple. YOU AGREE THAT WE SHALL NOT BE LIABLE FOR ANY CLAIM TO RECEIVE BENEFITS OR TO RECOUP ANY LOSS, DAMAGE, OR HARM OF ANY KIND WHATSOEVER, ON ANY BASIS, LEGAL OR EQUITABLE, RELATING TO ANY WEALTHSIMPLE PROGRAMS OR YOUR USE OF THE WEALTHSIMPLE APP. You agree that you will not make or advance any such claim against us, and that your sole claims, if any, shall be against Wealthsimple, and subject to the terms of any agreements you may have with Wealthsimple. For information about Wealthsimple programs you must contact Wealthsimple directly or visit the Wealthsimple website at ws.cash.
Using Your Wealthsimple Cash Card as a Method of Payment
Point of Sale or online purchases: Subject to the terms of this Agreement, you may access the Balance to purchase goods and services wherever Visa is accepted, including mail order, online and POS retail merchants. The Card includes a PIN that can be used to withdraw up to the amount of the Balance, or, if lower, the maximum amount permitted under this Agreement, in cash at ATMs displaying the Visa or Plus* acceptance marks. When you use the Card, the amount of the purchase or withdrawal, plus any applicable fees and taxes, will be deducted from the available Balance. You agree that we are not required to verify the signature on any sales draft prepared in connection with a transaction on your Card. You do not have the right to stop the payment of any transaction you conduct with the Card. We are not liable to you for declining authorization for any particular transaction, regardless of our reason. We may, in our sole discretion, cancel or suspend any features or services of the Card at any time, with or without cause, as permitted by Applicable Law. When required, we will send you notice before doing so. If you use your Card for card-not-present transactions (such as online, mail or telephone purchases), the legal effect is the same as if you used the physical Card.
Pre-authorized transactions: Some merchants (including, but not limited to, fuel stations, restaurants, hotels, cruise lines or car rental companies) may pre-authorize the transaction amount for the purchase amount plus up to 20% (or more) above the purchase amount to ensure there is a sufficient Balance available in your Cash Account to cover any tips or incidental expenses. In such cases, your transaction will be declined if your Balance will not cover the transaction amount plus the additional amount. A pre-authorization places a ‘hold’ on an amount of your available Balance until the merchant sends us the final payment amount of your purchase. Once the final payment amount is received, the pre-authorization amount on hold in excess of that final payment amount will be released. The time it takes for a pre-authorization hold to be removed may vary depending on the type of merchant. The hold is typically removed within fifteen (15) days for most standard merchants, including hotels, cruise lines and car rental agencies. During the hold period, you will not have access to the pre-authorized amount.
Pre-authorized Debit: You may also use your Card to pay some of your bills, or manage and move your funds, by Pre-authorized Debit, where the Pre-authorized Debit Payee accepts payment in this way. To make a payment by PAD you must first obtain the Direct Transfer and Payment Details for your Card. These payment details are different from your Card number. You may use the Direct Transfer and Payment Details to provide payment instructions in a pre-authorized debit agreement you enter into with a Pre-authorized Debit Payee. If you do not obtain and provide accurate Direct Transfer and Payment Details to the Pre-authorized Debit Payee, the request for payment will not be received or processed. You are also responsible for ensuring that you have adequate funds in your Cash Account to make all Pre-authorized Debit payments that you authorize before the payment request(s) are received. At the time we process the Pre-authorized Debit, People Trust Company will reject the Pre-authorized Debit if funds are not available in your Cash Account, or a Pre-authorized Debit transaction is deemed suspicious pursuant to Wealthsimple’s risk management and financial crime policies. Peoples Trust Company will not be liable for any costs incurred by you as a result of such rejected Pre-authorized Debit.
Pre-authorized Debits will be processed as they are received and deducted from your available Balance, which may change as you use your Card. We may reject a Pre-authorized Debit if the Pre-authorized Debit Payee is considered by Wealthsimple or its service providers to be high risk. We will not be liable for any costs incurred by you as a result of the rejected Pre-authorized Debit.
YOU UNDERSTAND THAT YOUR DIRECT TRANSFER AND PAYMENT DETAILS ARE SENSITIVE INFORMATION AND MAY BE USED TO ACCESS FUNDS TRANSFERRED TO YOUR CASH ACCOUNT. YOU AGREE THAT ALL OBLIGATIONS THAT YOU HAVE UNDER THIS AGREEMENT TO PROTECT AND DISCLOSE ANY COMPROMISE TO YOUR PIN APPLY WITH EQUAL FORCE TO YOUR PRE-AUTHORIZED DEBIT PAYMENT DETAILS, EXCEPT THAT THEY MAY BE USED AND DISCLOSED BY YOU TO A PRE-AUTHORIZED DEBIT PAYEE WITH WHOM YOU ENTER INTO A PRE-AUTHORIZED DEBIT ARRANGEMENT OR TO PERMIT A DIRECT TRANSFER.
If you request and use Pre-authorized Debit you understand that you do so at your own risk. However, if a Pre-authorized Debit is wrongly processed to your Cash Account you may be able to make a reimbursement claim. To make a reimbursement claim you must contact Wealthsimple to obtain the appropriate forms and documents and submit a reimbursement claim in writing in a timely manner. You acknowledge and agree that our only obligation in seeking reimbursement for a Pre-authorized Debit made to your Cash Account is to submit your claim, when provided to us by Wealthsimple or by you, in accordance with the payments rules which regulate Pre-authorized Debit arrangements. Reimbursement claims may be possible for up to ninety (90) days for consumer transactions or up to ten (10) days for business transactions.
Access to Your Wealthsimple Cash Card Balance: You may obtain information about the remaining Balance by accessing your Cash Account via the Wealthsimple Cash App or by calling customer service’s toll-free number at 1-855-255-9038. Transaction history information is available in the Wealthsimple Cash App. Every month, Wealthsimple will prepare an electronic statement of your Card (and other Wealthsimple Cash) transactions within the Wealthsimple App. It is your responsibility to obtain such a record and ensure that it is accurate.
Insufficient or Negative Balance, Inactivity, and Excess Credit: In the event that, due to a systems malfunction or for any reason whatsoever, you receive cash or credit in excess of what has been paid by you, we may correct such error when discovered and adjust the Balance available in your Cash Account. You agree to reimburse us for any excess cash or credit received, upon demand. You are not allowed to exceed the Balance available in your Cash Account for any transaction or cash withdrawal. It is your responsibility to ensure that there is a sufficient Balance in your Cash Account to cover transactions. Your Balance will reflect all transactions that have been posted to our system. If you attempt to use the Card when there is insufficient Balance available to cover the full transaction amount, the transaction in most instances will be declined.
In the event that there is not a sufficient Balance in your Cash Account to pay fees, we or Wealthsimple may deactivate the Card without notice. If your Cash Account has a negative Balance and three (3) consecutive transactions are conducted while the Cash Account has a negative Balance, we or Wealthsimple will disable the Card to prevent any further transactions until the Balance in your Cash Account is brought back to a positive Balance. You must not attempt to cause your Cash Account to have a negative Balance. If a negative Balance is created in your Cash Account following any transaction initiated or authorized by you, then you agree to repay the amount of the negative Balance to your Cash Account within ten (10) days of such transaction.
Transactions Made in Foreign Currencies: We convert any transactions made in a foreign currency to Canadian dollars using the Visa Conversion Rate in effect on the day the transaction is posted to your Cash Account. The currency conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or the posting date. The Visa Conversion Rate may not be the same as the rate that existed on the date the transaction was made. For Wealthsimple Cash, we do not add any additional foreign exchange transaction fee on top of what Visa uses for currency conversion.
Card “Good Thru” Date: The Card will be valid and usable until the “good thru” date. Contact customer service to receive a replacement Card with a new, expiry date provided that your
Card is in good standing. You are still entitled to the Balance in your Cash Account after the Card itself expires.
Protection Against Loss, Theft, or Unauthorized Use: If your Card is lost or stolen, you will be asked to provide us with the name on the Card and the Card number, and to answer an identifying question drawn from your personal information. If you lose the Card, someone might be able to access and use the Balance in your Cash Account. It can be used without a PIN to make purchases.You may lock your Card within the Wealthsimple Cash App or call 1-855-255-9038 seven (7) days a week, twenty-four (24) hours a day for the immediate cancellation of the Card upon your request. A replacement Card will be issued within seven to ten (7-10) business days after you report the Card lost or stolen to customer service, consent to a Card re-issue. You can use the replacement Card to access the Balance in your Cash Account. The remaining balance will be available in the Wealthsimple Cash app and you can withdraw those funds into your bank account at any point in time.
With the Visa Zero Liability Policy, you will not be liable for any unauthorized use of the Card on any transactions processed by Visa. The Visa Zero Liability Policy will not generally apply to commercial cards or transactions or to transactions, such as Pre-authorized Debit, which are not processed by Visa. In any case, you must notify us (at 1-855-255-9038) immediately of any unauthorized use. You must establish to our satisfaction that you are not responsible for the disputed transaction. Verification of a Zero Liability claim can take up to one hundred and twenty (120) days once all the paperwork has been received and confirmed by us, and may require a police investigation.
COLLECTING AND USING YOUR PERSONAL INFORMATION
Personal Information Consent: By applying for a Card, you consent to the collection, use, disclosure and retention of your personal information by us and our service providers for purposes relating to your application for a Card and your use of a Card (if issued to you) and as otherwise described below. If you do not consent to the collection, use, disclosure and retention of your personal information, you may not apply for or use a Card. As explained below, you may withdraw your consent at any time by cancelling your Card and all related services from us by contacting customer service at 1-855-255-9038.
What We Collect: We and Wealthsimple, acting as our service provider, will collect information about you (e.g. your name, address, telephone number, date of birth, and social insurance number) when you apply for a Card and, if a Card is issued to you, we, Wealthsimple and Wealthsimple’s providers of services related to your card, including Wealthsimple’s processor will collect information about you and your use of the Card and related services, including information about your Card transactions (e.g. the date, amount and place of each transaction) (all collectively “Cardholder Information”). We and Wealthsimple will collect your Cardholder Information directly from you and from other sources, including third party providers of identity verification, demographic and fraud prevention services, publicly available sources, such as internet sites, government agencies, and registries.
How we Use, Retain and Disclose Your Personal Information: We will disclose your Cardholder Information to our providers of services related to your Card, including Wealthsimple’s processor, to assist us to provide services to you and to provide related services to us. We and our providers of services related to your Card, including Wealthsimple’s processor, will use, disclose and retain your Cardholder Information to process your application for a Card (including to verify your identity) and, if a Card is issued to you, to provide you with services relating to your Card (including to administer your Card and to process your Card transactions), to protect our systems and services from fraud and for legal compliance purposes, to perform and enforce this Agreement, to protect and enforce our legal rights and for other purposes required or permitted by Applicable Law. We and our providers of services related to your Card, including Wealthsimple’s processor, may use and store your Cardholder Information at facilities in various countries (including Canada and the United States of America). As such, your Cardholder Information may be subject to foreign laws (which might be different from the laws of the jurisdiction in which you are located) and may be accessible to foreign courts, governments, law enforcement and regulatory agencies and security authorities without notice. We will use and rely on your Cardholder Information to issue and administer your Card and provide related services. We and our providers of services related to your Card, including Wealthsimple’s processor, will rely on you to ensure that your Cardholder Information is accurate, complete and up to date. You will promptly inform customer service at 1-855-255-9038 of any changes to your Cardholder Information or if you discover any errors in your Cardholder Information.
Safeguarding Your Personal Information: We protect personal information in our possession or control from loss, theft, alteration and misuse. The safeguards employed by us to protect your personal information depend on the sensitivity, amount, distribution, format and storage of the personal information. Although technologies can make it easier for fraud to occur, we employ around the clock monitoring systems and controls to detect and prevent fraudulent activity. We also build fraud prevention measures into our due diligence processes and regularly update our fraud detection/prevention methods. While we take precautions to protect your personal information from loss, theft, alteration, or misuse, no system or security measure is completely secure. Any transmission of your personal data is at your own risk and we expect that you will use appropriate measures to protect your personal information as well.
Contacting You: We and our providers of services related to your Card, including Wealthsimple’s processor, may use your Cardholder Information (including your phone number and your email address) to contact you, including by regular and electronic mail, telephone call (including by pre-recorded or artificial voice messages and automatic telephone dialing systems) and instant messaging, regarding your Card and related matters, regardless of whether you incur any long distance or usage charges as a result. We and our providers of services related to your Card, including Wealthsimple’s processor, may monitor and record our communications and correspondence with you (including emails, online chats and telephone calls) for quality assurance, staff training and legal compliance purposes.
Withdrawing Your Consent: You may withdraw your consent to the collection, use and disclosure of your Cardholder Information at any time by contacting customer service (at 1-855-255-9038) and cancelling your Card and all related services from us. If you withdraw your consent, we will continue to collect, use, disclose and retain your Cardholder Information for as long as may be reasonably required to perform services relating to the cancellation of your Card, to protect our systems and services from fraud and for legal compliance purposes, to perform and enforce this Agreement, to protect and enforce our legal rights and for other purposes required or permitted by Applicable Law.
Use by Wealthsimple or Other Parties: In addition to the foregoing, if you consent to Wealthsimple or other third party collecting and using your personal information (including Cardholder Information) for their own purposes (not as our service provider), including to send marketing and promotional messages to you, then we will not have any control over, and will not be responsible or liable for, the collection, use, disclosure and retention of your personal information by Wealthsimple or third party, the marketing or promotional messages that they send to you, or any other wrongful act or omission by Wealthsimple or third party.
The restrictions and requirements described above do not apply to Cardholder Information that is aggregated or otherwise de-personalized and does not identify you. In order to obtain information on Wealthsimple’s privacy policies and practices as well as those of our domestic and foreign service providers, and/or in order to request access to, or rectification of, your Cardholder Information, you may contact Wealthsimple by mail at 860 Richmond Street West, 3rd Floor, Toronto, ON M6J 1C9. Peoples Trust’s general personal information practices are described in our Privacy Policy, as amended from time to time, available online at www.peoplestrust.com/en/legal/privacy-security/privacy/peoples-trust-privacy-policy/.
Arbitration: (not applicable to residents of Québec): TO THE EXTENT PERMITTED BY APPLICABLE LAW, subject to all other terms of this Agreement, you agree that any claim of any kind arising from or related to this Agreement or the use of the Card (i) shall be resolved by final and binding arbitration before a single arbitrator and (ii) shall not be brought through class or individual litigation proceedings. To the extent not prohibited by Applicable Law, if such a claim is advanced by class proceeding by any other person on your behalf, you will opt out of, or not opt into, such proceedings as circumstances dictate.
DISPUTES AND COMPLAINTS
Disputes: If you believe a transaction on your Card is incorrect, you must notify us of your dispute within sixty (60) days of the transaction date. Following your notification, you will need to complete and email a dispute form to the customer service team within ninety (90) days of the transaction date. You can obtain a dispute form by calling customer service at 1-855-255-9038 or by emailing support@wealthsimple.com. Please note that this form must be received within ninety (90) days of the date of the disputed transaction or you will have been deemed to have accepted such transaction.
If you identify an error in any transaction record, you must address such error with the applicable merchant or ATM operator. If there is any dispute in regard to purchases you make using the Card, you agree to settle such disputes with the merchant from whom the purchase was made. Please ask the merchant for any return policy that may apply to purchases made with the Card. We are not responsible for any problems you may have with any goods or services that you purchase with your Card, whether with regard to quality, safety, legality, or any other aspect of your purchase. If you are entitled to a refund for any reason for goods or services obtained with the Card, you agree to accept credits to the Balance in your Cash Account in place of cash.
Complaints: If you have a complaint or inquiry about any aspect of your Card, first attempt to resolve the complaint or inquiry by calling the toll-free customer service number at 1-855-255-9038. If customer service is unable to resolve the complaint or inquiry to your satisfaction, please call us at 1-855-694-6214 or submit your complaint or inquiry through the form found on our website: http://www.peoplestrust.com/en/about-us/contact/. We will do our best to resolve your complaint or inquiry. If we are unable to resolve the issue to your satisfaction, you may refer your inquiry or concern to the Ombudsman for Banking Services and Investments at 1-888-451-4519 for resolution. If you have a concern regarding a potential violation of a consumer protection law, a public commitment, or an industry code of conduct, the concern may be communicated at any time to the Financial Consumer Agency of Canada, either in person, by letter, by telephone, or through its website at:
Financial Consumer Agency of Canada
427 Laurier Avenue West,
6th Floor Ottawa, ON, K1R 1B9
Telephone: 1-866-461-3222
www.fcac-acfc.gc.ca
Our complaints policy can be found online at: http://www.peoplestrust.com/en/about-us/ resolving-your-concerns/
The following legal terms and conditions also form part of your Agreement with us.
AMENDMENTS AND OTHER LEGAL REQUIREMENTS
Notification and Change of Terms: Subject to the limitations of Applicable Law, we may from time to time amend any term or condition of this Agreement or add a new term or condition, including increasing or adding new fees. As required by Applicable Law, notice of any Amendments will be sent to you at the most recent mailing or email address that we have on record for you. We must, at least thirty (30) days before the Amendment comes into force, send you a written notice drawn up clearly and legibly, setting out the new clause(s) only, or the amended clause(s) and the clause(s) as it (they) read formerly, the date of the coming into force of the Amendment and your rights set forth below.
You may refuse the Amendment and rescind this Agreement without cost, penalty or cancellation indemnity by sending us a notice to that effect no later than thirty (30) days after the Amendment comes into force, if the Amendment entails an increase in your obligations or a reduction in our obligations. If you choose to rescind this Agreement, the Cancellation section of this Agreement will apply. Notification of any Amendment will also be posted on the Website and App at least sixty (60) days in advance of the effective date of the Amendment, unless otherwise required by Applicable Law. The change will take effect on the date indicated in the notice. You are responsible for informing us of any change in your mailing or email address, by contacting customer service at 1-855-255-9038, and for checking the Website for such notifications. Notice will be deemed to be received by you five (5) days after mailing, or the next business day after electronic mail.
You may notify us by delivering notice to Wealthsimple or sending notice to us at the Website (other than notification of a lost or stolen Card, which may only be done by telephone as set out above). Notice will be deemed to be received on the date of delivery of notice to us or Wealthsimple, as applicable, and the next business day after electronic mail.
Cancellation: You may at any time terminate this Agreement by calling 1-855-255-9038. We may terminate this Agreement at any time, with or without cause. Upon Agreement cancellation, your Card will also be cancelled, and you should destroy it immediately. Once the Card is cancelled, you will not be able to access your Balance with the Card, and may only access your Balance through your Cash Account. Despite any termination of this Agreement, you must fulfil your obligations under this Agreement.
No Warranty of Availability or Uninterrupted Use:From time to time Card services may be inoperative, and when this happens, you may be unable to use your Card or obtain information about the Balance on your Card. Please notify us if you have any problems using your Card. You agree that we are not responsible for any interruption of service.
Although considerable effort is made to ensure the Website and other operational and communications channels are available around the clock, we do not warrant these channels to be available and error free at all times. You agree that we will not be responsible for temporary interruptions in service due to maintenance or Website changes or failures, nor will we be liable for extended interruptions due to failures beyond our control, including but not limited to the failure of interconnecting and operating systems, computer viruses, forces of nature, labour disputes or armed conflicts. We will not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses that may affect your computer or other equipment.
You agree to act responsibly with regard to the Website and its use. You will not violate any laws, interfere or disrupt computer networks, impersonate another person or entity, violate the rights of any third party, stalk, threaten or harass anyone, gain any unauthorized entry, or interfere with the Website’s systems and integrity.
Third Party Claims: In the event we reimburse you for a refund claim you have made, or if we otherwise provide you with a credit or payment with respect to any problem arising out of any transaction made with your Card, you are automatically deemed to assign and transfer to us any rights and claims (excluding tort claims) that you have, had or may have against any third party for an amount equal to the amount we have paid to you or credited to your Cash Account. You agree that you will not pursue any claim against or reimbursement from such third party for the amount that we paid or credited to your Cash Account, and that you will cooperate with us if we decide to pursue the third party for the amount paid or credited to you. If we do not exercise our rights under this section, we do not give up our rights to exercise them in the future.
Disclaimer of Warranties: EXCEPT AS EXPRESSLY OTHERWISE PROVIDED IN THIS AGREEMENT AND EXCEPT FOR ANY APPLICABLE WARRANTIES AVAILABLE UNDER APPLICABLE LAW (INCLUDING THE CONSUMER PROTECTION ACT (QUÉBEC), WE MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND TO YOU, WHETHER EXPRESS OR IMPLIED, REGARDING ANY SUBJECT MATTER OF THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR THOSE ARISING BY STATUTE OR OTHERWISE IN LAW OR FROM A COURSE OF DEALING OR USAGE OF TRADE.
EXCEPT IN QUÉBEC, OR AS EXPRESSLY REQUIRED BY THIS AGREEMENT OR APPLICABLE LAW, WE WILL NOT BE LIABLE TO YOU FOR PERFORMING OR FAILING TO PERFORM ANY OBLIGATION UNDER THIS AGREEMENT UNLESS WE HAVE ACTED IN BAD FAITH. WITHOUT LIMITING THE FOREGOING, WE WILL NOT BE LIABLE TO YOU FOR DELAYS OR MISTAKES RESULTING FROM ANY CIRCUMSTANCES BEYOND OUR CONTROL, INCLUDING, WITHOUT LIMITATION, ACTS OF GOVERNMENTAL AUTHORITIES, NATIONAL EMERGENCIES, INSURRECTION, WAR, RIOTS, FAILURE OF MERCHANTS TO PERFORM OR PROVIDE SERVICES, FAILURE OF COMMUNICATION SYSTEMS, OR FAILURES OF OR DIFFICULTIES WITH OUR EQUIPMENT OR SYSTEMS. ALSO WITHOUT LIMITING THE FOREGOING, WE WILL NOT BE LIABLE TO YOU FOR ANY DELAY, FAILURE OR MALFUNCTION ATTRIBUTABLE TO YOUR EQUIPMENT, ANY INTERNET SERVICE, ANY PAYMENT SYSTEM OR ANY CUSTOMER SERVICE FUNCTION. IN THE EVENT THAT WE ARE HELD LIABLE TO YOU, YOU WILL ONLY BE ENTITLED TO RECOVER YOUR ACTUAL AND DIRECT DAMAGES. IN NO EVENT WILL YOU BE ENTITLED TO RECOVER ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY OR SPECIAL DAMAGES (WHETHER IN CONTRACT, TORT, OR OTHERWISE), EVEN IF YOU HAVE ADVISED US OF THE POSSIBILITY OF SUCH DAMAGES.
Assignment: At our sole discretion, we may assign (legally transfer) to another person or company our rights and responsibilities under this Agreement at any time and without notice to you. If we do make such an assignment, then this Agreement will remain binding on you and your respective executors, administrators, successors, representatives and permitted assigns.
Entire Agreement: This Agreement sets out the entire agreement between the parties with respect to the use of your Card. This Agreement replaces all prior agreements and understandings between the parties with respect to your Card.
Governing Law; Submission to Jurisdiction: The parties agree that any claim or action brought pursuant to this Agreement will be brought in the exclusive jurisdiction of the courts of British Columbia and this Agreement will be construed in accordance with and governed by the laws of the Province of British Columbia and the laws of Canada applicable herein. FOR RESIDENTS OF QUÉBEC ONLY: The parties attorn to the jurisdiction of Québec and this Agreement will be construed in accordance with and governed by the laws of the province of Québec and the laws of Canada applicable therein.
Section Headings: Section headings in this Agreement are for convenience of reference only, and will not govern the interpretation of any provision of this Agreement.
Severability: If any part of this Agreement is found to be invalid or unenforceable by any court or government agency of competent jurisdiction, that invalidity or unenforceability will not affect the remainder of this Agreement, which will survive and be construed as if such invalid or unenforceable part had not been contained herein.
TALK TO US
If you have questions regarding your Card or this Agreement, or if you have a complaint, you can visit the Website, or call customer service at 1-855-255-9038, or write to Wealthsimple at 241 Spadina, 3rd Floor, Toronto, ON M5T 2E2.
*Visa Int./Peoples Trust Company, Licensed User
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Updated: 05/05/2021
[1] More information about this fee is included in the Transaction Made in Foreign Currencies section of this Agreement.
[2] Additional fees for ATM withdrawals may be charged by the ATM operator, over which we have no control.