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1 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. Wealthsimple does not charge ATM fees, however, withdrawals may be subject to a fee charged by ATM providers.
2 Data collected as of June 5, 2025. As compared with average of all posted-rates of chequing accounts from Canadian financial institutions as listed under Schedule I under the Bank Act. Excludes limited-time and promotional offers and products that do not offer cheques. Wealthsimple chequing’s 1.75% interest rate is available to Wealthsimple Core clients; 2.25% interest rate is available to Wealthsimple Premium clients; and 2.75% 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
3 Until August 31, 2025, new and existing Wealthsimple clients who send an outgoing wire or bank draft orders from eligible accounts will have their wire and bank draft order fees waived. Must be residents of Canada and age of majority. Full details here.
4 Individual's actual e-transfer limit will depend on various factors including, but not limited to, total assets with Wealthsimple, direct deposit amount, and previous transfer amounts. For more information, contact our Client Success team. Interac e-Transfer® is a registered trade-mark of Interac Corp. Used under license.
5 Wealthsimple $100k Cash Giveaway: No purchase required. Contest begins on June 11, 2025 at 12:01am Eastern Time (ET) and ends on July 10, 2025 at 11:59pm ET. Ten (10) prizes available to be won in Canada, each consisting of CAD$10,000. Four methods to enter: during the contest period, entrants can either: (a) open and fund at least CAD$1 into their Wealthsimple chequing account or have a funded chequing account (1 entry), (b) set up or have an existing recurring direct deposit(s) of at least CAD$2,000 every 30-day period to their chequing account (5 entries), or (c) make a bill payment using the chequing account (1 entry.), or (d) enter via the essay method (1 entry per essay, up to 5 entries). Limit of one (1) entry per entry method (a) and (c), and limit five (5) entries per entry method (b) during the Contest Period. Odds of winning depend on the total number of eligible entries received during the Contest Period. Skill-testing question required. Open only to new or existing Wealthsimple chequing clients, who are legal residents of Canada and are the age of majority in the province or territory of residence at the time of entry. Full rules, essay method, and entry details available here.
Our chequing product is offered by Wealthsimple Investments Inc. (“WSII”), a member of the Canadian Investment Regulatory Organization (“CIRO”), and Wealthsimple Payments Inc., a FINTRAC registered money services business. The funds added to chequing account(s) (the “Funds”) are ultimately held securely in trust in the name of the primary account holder with a single or multiple members of the Canada Deposit Insurance Corporation (“CDIC”). CDIC protects eligible deposits held at CDIC member institutions in case of a member institution’s failure. Wealthsimple Payments Inc. and WSII are not CDIC member institutions. Under the trust framework, CDIC insures eligible cash balances up to $100,000 per beneficiary, per member institution, provided certain disclosure rules are met. Coverage is free and automatic. Learn more about how CDIC protection works. Funds must be spread across at least 10 CDIC member institutions in order for up to $1,000,000 in deposits to benefit from applicable CDIC coverage. The advertised interest rate for the chequing acccount is derived from interest earned by Wealthsimple on the funds. The rates are annualized rates, calculated daily, and paid monthly. Subject to change. For more information see here. The Funds are settled with any CDIC member(s) one business day following the date that Funds are reflected in the Account.
1% back excludes cash-like transactions and any refunds and adjustments. See Terms and conditions for details.
Interac e-Transfer® is a registered trade-mark of Interac Corp. Used under license.
The Wealthsimple Mastercard® Prepaid card is issued by KOHO Financial Inc. pursuant to license by Mastercard International Incorporated. All terms applicable to the prepaid Mastercard and all applicable fees and transaction limits with respect to the prepaid Mastercard and the services may be found in the Wealthsimple Cardholder Agreement between you and KOHO Financial Inc. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.
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