Wealthsimple Chequing Card review: fees, cashback and limits

Name: Wealthsimple Chequing Card
Brand: Wealthsimple

A Canadian chequing account with a prepaid Visa that pays 1% back, including in crypto.

By Taimoor, founder and editor Last checked 17 October 2026 3 sources

5.9out of 10

Quick answer

Wealthsimple's Chequing account (formerly Wealthsimple Cash) comes with a prepaid Visa Platinum card that pays 1% cashback, which you can have invested automatically in crypto or stocks. There's no monthly fee, no foreign transaction fee and no ATM fee, and Wealthsimple reimburses up to $5 per ATM withdrawal in Canada. The balance earns interest. The card spends Canadian dollars, so you sell crypto in the app first, which includes a spread.

Wealthsimple at a glance

Best for	Canadians who want a free everyday card with no FX fees and crypto rewards.
Skip it if	You want to spend crypto directly without selling it first.
Network	Visa (Platinum, prepaid)
Card issuer	Wealthsimple's card partner (prepaid program)
Custody	Custodial. CAD in a chequing account; crypto held by Wealthsimple.
Card type	Prepaid
Virtual or physical	Virtual and physical
Cashback	1% back, in cash, crypto or stocks
Annual fee	None. No monthly fee.
Apple Pay / Google Pay	Yes / Yes
Identity check (KYC)	Required
Where it works	Canadian residents.

Wealthsimple fees

Card cost	Free
Annual or membership fee	None. No monthly fee.
FX and cross-border	No foreign transaction fee
Crypto conversion	The card spends CAD. Selling crypto in the app includes Wealthsimple's spread.
ATM withdrawals	No Wealthsimple fee. ATM fees in Canada reimbursed up to $5 each.
Other fees	Free Interac e-Transfers

Visa applies its own exchange rate on top of any card markup. Check the fee page in the Wealthsimple app for your country before you load money. To see what Wealthsimple would cost you in a year compared with every other card, try the cost calculator.

What a $100 purchase costs with Wealthsimple

Not publishedPaid from stablecoins in the card's own currency

Not publishedPaid from stablecoins in a foreign currency

$1.50Paid from other crypto, like BTC or ETH

$1.00Cashback on $100, Core tier

These are Wealthsimple's own fees on the Core tier, before the card network's exchange rate and any ATM or top-up costs. Its FX markup of 0% is lower than the median of 1% across the 60 cards we track with a published FX fee, and cheaper than 37 of them. For a full year based on your own spending, use the cost calculator.

Where it ranks by our score: #4 of 7 in Canada

Cashback and rewards

1% cashback on card spending
You can have cashback auto-invested in the crypto or stock of your choice

Deposits and withdrawals

How to top up

Direct deposit, Interac e-Transfer and bank transfers
Sell crypto or investments in the app to CAD

Fees: Free deposits. Crypto sales include a spread.

How to withdraw

Interac e-Transfer and bank transfers
ATM cash

Fees: Free, with ATM fees reimbursed up to $5 in Canada.

Supported assets: CAD, plus crypto and stocks in your Wealthsimple accounts.

Where Wealthsimple works

Canadian residents.

Outside Canada.

Canada

Limits and perks

Limits

Shown in the app

Perks

Interest on your balance, from about 1.25% to 2.25% depending on your Wealthsimple assets
Extra 0.5% interest with $2,000 a month of direct deposit (Core and Premium)

Pros and cons

What's good

No FX fee and no ATM fee
1% cashback you can invest in crypto
Interest on the balance

What's not

Canada only
Can't spend crypto directly
Crypto trades include a spread

Our take on Wealthsimple

Wealthsimple is Canada's big app for investing and crypto, and its Chequing account is a free everyday account with a prepaid Visa. The card pays 1% back on spending, and you can set that cashback to be invested automatically in the crypto or stock you choose, which makes it an easy way to build a crypto position from groceries.

It's also a strong travel card for Canadians: no foreign transaction fee and no ATM fee, with fees reimbursed up to $5 per withdrawal in Canada. The limitation is that it spends Canadian dollars, so crypto has to be sold in the app first, and Wealthsimple's crypto prices include a spread.

One of the best free everyday cards in Canada, with crypto as a bonus rather than the funding source.

How we scored Wealthsimple: 5.9/10

Methodology

Fees 30%

9 No monthly, FX or ATM fees.

Rewards 20%

5 1% back, investable in crypto.

Control 20%

4 Custodial.

Reach 15%

2 Canada only.

Flexibility 15%

7 Chequing, investing and crypto in one app.

Wealthsimple FAQ

Does the Wealthsimple card pay crypto cashback?

It pays 1% cashback, and you can choose to have it invested automatically in crypto or stocks.

Does the Wealthsimple card charge foreign transaction fees?

No. There's no foreign transaction fee and no ATM fee.

Sources

Finder Canada: Wealthsimple Chequing review1% cashback, no FX or ATM fees, interest tiers, 2026
cryptonoshi: Wealthsimple CardCard listing
WealthsimpleOfficial site

We checked these sources on 17 October 2026. Fees and rewards change often. Spotted something out of date? Report a correction and we'll check it within two working days.