Wealthsimple Save

2% high interest savings

A smarter way to save

Our savings account continually optimizes for the best rate, so you're always getting the highest interest available.

Earn 2% interest

A smarter savings account with higher interest than the big banks. No introductory rates, limited-time offers, or expiries. The rate is the rate, period.

Reach your next milestone

Wealthsimple Save is a perfect place to keep money for emergency expenses, a down payment, or your next vacation. And it integrates seamlessly with your other Wealthsimple accounts on our website and mobile app.

No extra fees or penalties, ever

  • Unlimited free transactions: Never pay fees for transfers or withdrawals

  • No account minimum: Start with as little as $1

  • No low balance fees: No penalties ever

  • Over $5B and counting - More than 175,000 people trust over $5 billion with Wealthsimple companies

  • Everything is encrypted - We use state-of-the-art data encryption when handling your financial information and two-factor authentication (2FA) protection

  • CIPF protected - Our brokerage is a member of the Canadian Investor Protection Fund, which covers accounts up to $1M against bankruptcy.

  • Powerful backing - Wealthsimple is backed by $265M in investment from some of the world's largest financial institutions

We keep your money safe

Your security and trust are important to us. We're committed to protecting your account with the highest standards of security available.

Benefits and pricing

A smarter savings account with higher interest than the big banks.

Save

Earn higher interest

Everything you need to make your cash work smarter


Learn more
  • Earn 2% interest

  • Unlimited free transactions

  • No account minimums

  • No balance fees

  • No promotional rates

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Start saving in 5 minutes

  • Set up your account
  • Make a deposit
  • Earn higher interest

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FAQs

There is no account limit for a Wealthsimple Save account.

Yes, and we won't charge you for any withdrawals. It takes 1 business days to withdraw your Wealthsimple Save contributions.

There is a 5 day settlement period on deposits, If you withdraw your money before that period is over, your withdrawal can take longer. We're constantly working on improving the speed of withdraws so you can have access to your money faster.

Interest is paid on the 5th of every month, or the next business day.

Yes, your Wealthsimple Save account is protected by the Canadian Investor Protection Fund (CIPF).

Here’s how it works: the cash in your Wealthsimple Save account is actually recorded in an account with our custodial broker, ShareOwner. ShareOwner deposits that cash for you in a trust account with one or more Canadian banks (e.g. Scotiabank, National Bank).

With CIPF, your money is protected within specific limits if ShareOwner is unable to return your cash to you. You can find more information about CIPF and the nature and limits of coverage at www.cipf.ca.