Bank Without Fees.
Earn Like a Pro.
Get global ATM fee refunds, deposit cash instantly at Canada Post, and start earning interest on every dollar from day one.
Claim Your $25 BonusATM Fees Refunded
Withdraw cash anywhere standard third-party ATM fees are charged and get them reimbursed automatically back into your account.
Canada Post Cash Deposits
Need to deposit cash? Generate an in-app barcode, head to any Canada Post location, and deposit physical cash instantly.
High-Yield Interest
No extra steps needed. Earn high interest directly on your balance without lockups or hidden account maintenance fees.
How to Get Started
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Sign Up via Invite Link Click the button to register your new account and qualify for the $25 welcome reward.
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Set Up e-Transfer Link your email or mobile phone number to enable fee-free instant e-Transfers.
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Fund & Start Earning Transfer your first $100 to activate your balance and start earning interest automatically.
Canada's Top No-Fee Banking Alternative:
Wealthsimple Chequing
Ditch monthly banking fees. Get automatic ATM fee reimbursements globally, instant cash deposits through Canada Post, and earn up to 2.25%+ on every dollar.
Claim Your $25 Signup Bonus🏧 Free Global ATM Access
Withdraw cash anywhere standard third-party ATM fees apply. Wealthsimple reimburses standard withdrawal fees directly back into your account balance.
📮 In-Person Cash Deposits
Deposit physical banknotes easily. Present your in-app barcode at any Canada Post clerk counter to add physical cash into your account instantly.
💳 1% Unlimited Cash Back
Earn 1% cash back, stock credit, or crypto back on every purchase made using your Wealthsimple Mastercard/Visa debit card with $0 account fees.
Comprehensive Guide to Wealthsimple Canada Services (2026)
Wealthsimple is Canada's largest financial technology platform, managing over $150 Billion in Assets Under Administration (AUA). Majority-owned by Power Corporation of Canada, Wealthsimple serves millions of Canadians through an integrated digital ecosystem combining everyday banking, self-directed stock trading, automated robo-advising, tax filing software, and cryptocurrency trading.
1. Everyday Banking: Wealthsimple Chequing Account
The Wealthsimple Chequing account operates as a high-interest hybrid spending and savings vehicle designed to replace traditional Big Six Canadian bank accounts charging monthly fees.
- No Monthly Account Fees: $0 monthly maintenance fee, no minimum account balance requirements, and zero account inactivity penalties.
- ATM Fee Reimbursements: Standard third-party ATM charges incurred anywhere in Canada or internationally are automatically reimbursed back to the client's account.
- Canada Post Physical Cash Deposits: In partnership with Canada Post, clients can deposit physical banknotes by generating a unique QR code inside the Wealthsimple app, which is scanned at any postal counter alongside photo verification.
- Interest Yield Structure: Accounts earn interest paid out monthly based on total account assets and payroll direct deposits:
- Core Clients ($0–$99.9k assets): 1.25% base interest rate.
- Premium Clients ($100k–$499.9k assets): 1.75% interest rate.
- Generation Clients ($500k+ assets): 2.25% interest rate.
- Interac e-Transfers: Unlimited free e-Transfers with custom auto-fill address capabilities.
2. Wealthsimple Tier Structure Comparison
| Feature / Tier | Core ($0 - $99K) | Premium ($100K - $499K) | Generation ($500K+) |
|---|---|---|---|
| Chequing Interest Rate | 1.25% APY | 1.75% APY | 2.25% APY |
| Managed Investing Fee | 0.50% | 0.40% | 0.20% - 0.40% |
| USD Account Fee | $10 / month | Included Free | Included Free |
| Dedicated Financial Advisor | No | Priority Team | Dedicated Human Advisor |
3. Self-Directed Trading & Managed Investing
Wealthsimple Trade: Canada's first zero-commission stock and ETF trading platform. Supports TFSA, RRSP, FHSA (First Home Savings Account), RESP, LIRA, and non-registered personal or joint accounts. Supports fractional share purchases starting at $1 CAD and automatic dividend reinvestment programs (DRIP).
Wealthsimple Invest: Hands-off robo-advisory portfolios using low-fee exchange-traded funds (ETFs) tailored to specific risk tolerances, alongside Socially Responsible Investing (SRI) and Halal compliant options.
4. Security, Regulation & Deposit Protection
- CIPF Protection: Securities held within Wealthsimple Investments Inc. are governed by the Canadian Investment Regulatory Organization (CIRO) and covered by the Canadian Investor Protection Fund (CIPF) up to $1,000,000 CAD per account category.
- CDIC Insurance Eligibility: Cash deposits held in Wealthsimple Chequing are held in trust across partnering Canadian Schedule I banks, offering up to $500,000 CAD in pooled CDIC coverage.
5. How the $25 Referral Program Works
New Canadian clients who register an account using invitation link wealthsimple.com/invite/XUTCEW and initiate a qualifying deposit of at least $100 within 30 days qualify for a $25 cash bonus deposited directly into their Wealthsimple account within 24 hours of funding completion.