Data in this chart was last updated September 15, 2026. The chart is for illustration purposes only and is intended to provide a general overview comparing Wealthsimple's Kids and Teens account against those of similar youth accounts offered by the five biggest Canadian financial institutions as listed under Schedule I under the Bank Act. Actual fees, rate and features from individual financial institutions may vary. Subject to change.

Wealthsimple Kids and Teens Chequing Accounts are offered by Wealthsimple Investments Inc. (“WSII”), a member of the Canadian Investment Regulatory Organization, and Wealthsimple Payments Inc. (“WSP”), a Financial Transactions and Reports Analysis Centre of Canada (“FINTRAC”) registered money services business. WSP is a payment service provider registered with the Bank of Canada under the Retail Payments Activities Act. Registration with the Bank of Canada does not imply endorsement of WSP by the Bank of Canada. WSP has appointed WSII as its agent to perform certain payment activities offered through the Kids and Teens chequing account(s). The funds you add to a Kids and Teens chequing account (the “Funds”) are ultimately held securely in trust. The advertised interest rate for the chequing account is derived from interest earned by Wealthsimple on the funds.

The Wealthsimple Visa* Kids and Teens Prepaid card (the “Card”) is issued under license by Wealthsimple Payments Inc.

1.25% interest rate is available to Wealthsimple Core clients; 1.75% interest rate is available to Wealthsimple Premium clients; and 2.25% interest rate is available to Wealthsimple Generation clients. Annualized rate, calculated daily, paid monthly. Subject to change. For more information see https://wsim.co/rates

While Wealthsimple does not charge additional ATM fees, withdrawals may be subject to a fee charged by ATM providers. Wealthsimple will reimburse chequing clients an unlimited number of ATM fee reimbursements. Reimbursements will be made to the account linked to the Visa Platinum Prepaid Card within 4 business days after the ATM transaction settles. Click here for details. 

Foreign transaction (FX) fee is a surcharge typically charged on foreign currency transactions. Wealthsimple does not charge FX fees, but transactions are still subject to currency conversion from credit card issuers, or fees from retailers or financial institutions involved in the transaction.

*Trademark of Visa Int., used under license.