New Benefits for Wealthsimple Premium and Generation Accounts
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For several years now, Wealthsimple has been competing with major Canadian financial institutions with a diverse range of low-cost financial products and services. With more than 3.6 million clients and $155.6 billion in assets under administration (Q2 2026), Wealthsimple is constantly innovating: it offers joint and multiple accounts, and protects deposits in its Chequing accounts up to a maximum of $1 million.
Wealthsimple offers Wealthsimple Milestone Rewards, a rewards program that unlocks benefits for Premium and Generation accounts. In this article, we explore these lifestyle benefits, including travel, wellness, and culture.
Plans for Wealthsimple Customers
Here are the requirements of Wealthsimple’s three different levels: Core, Premium, and Generation.
To move up to a higher level, you must meet the minimum threshold for net deposits or total assets across all your Wealthsimple accounts. This includes managed investment accounts, Wealthsimple Trade accounts (formerly self-directed investments), cryptocurrencies, and spending accounts.
Here are the eligibility requirements for each Wealthsimple tier:
| Wealthsimple Tier | Assets with Wealthsimple | Interest Rate |
|---|---|---|
| Core | Less than $100,000 | 1.25% |
| Premium | Between $100,000 and $499,999 | 1.75% |
| Generation | More than $500,000 | 2.25% |
Each Wealthsimple account level has its own advantages, for example:
- Wealthsimple Trade: US dollar accounts are included for Premium and Generation clients, but are fee-based for Core clients ($10/month).
- Managed Investments: The 0.5% management fees are reduced to 0.4% for Premium clients and are 0.2% to 0.4% for Generation clients.
- Spending and Savings: The interest rates for chequing accounts are 0.5% (Core), 1.75% (Premium), or 2.25% (Generation).
To find out more about the benefits of each product and level, consult this guide:
New Benefits for Premium and Generation Accounts
For several years now, Wealthsimple customers with assets of $100,000 or more have had access to Premium services. These include reduced management fees, higher interest rates, financial planning services and more.
That being said, Wealthsimple is constantly innovating. It offers joint accounts and multiple accounts, and protects deposits in its chequing accounts up to one million dollars — 10 times the CDIC coverage. That's no small feat!
Wealthsimple continues its momentum with a Milestone Rewards program that unlocks benefits for Premium and Generation accounts that reach $200,000 or more in assets. Each year, Premium and Generation clients can choose from a range of exclusive lifestyle rewards, including travel, wellness, and culture.
Here is the list of new benefits for Wealthsimple Premium and Generation accounts.
Travel Rewards
- DragonPass: 4 airport lounge passes (up to 10 visits for Generation customers)
- Uber One: free one-year subscription to Uber One (Uber and Uber Eats)
- Gigs: travel eSIM coverage with 10 GB of international data
Wellness Rewards
- Strava: free one-year subscription to Strava Premium
- Headspace: free one-year subscription
- Maple: a free virtual visit and exclusive prices from specialists with Maple (virtual care platform)
- Willful: online wills with free modifications for life
Cultural Rewards
- The Globe and Mail: one-year unlimited digital subscription
- DINR: priority reservations and exclusive gastronomic experiences with a one-year subscription to DINR Premium
The more assets you have, the more rewards you earn.
Conclusion
In summary, Wealthsimple has been competing with major Canadian financial institutions for several years now. It continues to innovate, with chequing accounts protected up to one million dollars — representing 10 times the CDIC coverage — and a lifestyle rewards program that unlocks benefits for Premium and Generation accounts.
Curious whether Wealthsimple is the right platform for your investments? Our complete guide covers its security and fees: Is Wealthsimple Safe? And if you’re still deciding between brokers, see how it stacks up in our Questrade vs Wealthsimple comparison.
Frequently Asked Questions
What are Wealthsimple’s client levels?
Wealthsimple offers three account tiers for its clients: Core, Premium (minimum of $100,000), and Generation (minimum of $500,000). Each Wealthsimple account level comes with its own perks, such as lower management fees and higher interest rates on savings.
What are the new benefits for Premium and Generation accounts?
Wealthsimple Milestone Rewards offer new benefits for Premium and Generation accounts. These exclusive rewards are lifestyle-focused, including travel (DragonPass, Uber One, and Gigs), wellness (Strava Premium, Headspace, Maple, and Willful), and culture (The Globe and Mail and DINR). The more assets you have, the more rewards you earn.
How do you get rewards and benefits for Premium and Generation accounts?
Once you reach $200,000 in assets, you can claim your reward directly in the Wealthsimple app. Then, you get another reward for every additional $100,000 in assets (up to $400,000). These rewards are in addition to the existing Premium and Generation privileges.
Can you lose your Wealthsimple Premium status?
If you withdraw money from your account and the balance of all your Wealthsimple accounts falls below $100,000, you lose your Premium status and the associated benefits.
Terms and conditions apply. For the most up-to-date product details, please visit Wealthsimple.com.
