Wealthsimple Chequing Account: A free alternative to traditional chequing accounts (+ $25 cash back with this offer)

Q: Is the Wealthsimple Chequing account safe?

Yes, data security is a priority for Wealthsimple . Your personal and financial information is encrypted and protected according to the same security standards as all Canadian banks.

Wealthsimple

Published January 15, 2026Updated October 8, 20268 min readEditorial integrity

Wealthsimple is an investment management company founded in 2014 in Canada. It offers five different financial services: Wealthsimple managed investing, Wealthsimple Chequing, Wealthsimple Trade (formerly self-directed investing), Wealthsimple Crypto and Wealthsimple Tax.

Wealthsimple has since launched Wealthsimple Family to manage household finances.

Their recently enhanced Wealthsimple Chequing product offers a hybrid between a chequing account, a savings account and a prepaid Mastercard with rewards. Let’s explore its features in detail.

Wealthsimple Chequing Account: A free alternative to traditional chequing accounts (+ $25 cash back with this offer) - ws auto invest

What is a Wealthsimple Chequing account?

The Wealthsimple chequing account is much more than just a bank account. It’s a comprehensive financial platform designed to simplify and optimize your money management. Whether you are managing your daily expenses, saving for short-term goals, or planning your long-term financial future, the Wealthsimple chequing account has everything you need.

For travellers, this account and its associated prepaid Mastercard represent an excellent option to avoid conversion fees on foreign currency expenses and to withdraw money from international ATMs at a lower cost.

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Wealthsimple Prepaid Visa Platinum* Card

WealthsimpleCash Back

Annual fee: $0
Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$25Total$25Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.: $25
Welcome offer: $25 cash back

With the Wealthsimple Prepaid Visa Platinum* Card, you can access your available funds in your Wealthsimple chequing account.

With this welcome offer, you can get $25 cash back as a new Wealthsimple client. To do this, you simply need to open an account and then deposit at least $1 within 30 days.

You can invest your money in an investment account or a cryptocurrency of your choice. Also, you earn interest on your Wealthsimple chequing account balance! Clients who have at least $500,000 in assets with Wealthsimple can earn an interest rate of up to 2.25%.

In addition, there are no foreign transaction fees for any purchase made in a currency other than the Canadian dollar and no annual fees.

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* Trademark of Visa Int., used under license. Terms and conditions apply. For the most up-to-date product details, please visit Wealthsimple.com.

Annual fee

Primary card$0

Value

1st Year Value$295

Benefits of the Wealthsimple Chequing account

Traditional Chequing Account Features

With a Wealthsimple Chequing account, you can:

Shop wherever Mastercard is accepted
Receive direct deposits like your payroll
Send and receive INTERAC e-transfers
Pay your bills
Pre-authorized debits (cell phone bills, for example)
Automatically invest your paycheck

Plus, there’s no limit to the number of transactions you can make in a month. Deposits are insured by the Canada Deposit Insurance Corporation (CDIC) up to $1,000,000.

A High-Interest Savings Account

In addition to all the functions of a traditional chequing account, the Wealthsimple chequing account is also a high-interest savings account.

The interest rate offered in the Wealthsimple checking account varies between 1.25% and 2.25% annually. All clients receive a minimum of 1.25% interest, then may qualify for higher rates based on their assets under management across all their combined Wealthsimple accounts.

Here are the eligibility requirements for each Wealthsimple tier:

Wealthsimple Level	Assets with Wealthsimple	Interest rate
Essential	Less than $100,000	1,25 %
Benefit	Between $100,000 and $499,999	1,75 %
Generation	More than $500,000	2,25 %

These current rates are not promotional. They will remain as such until Wealthsimple decides to change them, in accordance with the recommendations and policy interest rate of the Bank of Canada.

Interest is calculated daily and deposited monthly (on the first day of the month) into your Wealthsimple Chequing account.

A Bonus for Direct Deposits

Since 2023, the interest rate is increased by 0.5% (up to a total rate of 2.25%) if you choose the Wealthsimple chequing account as the account for your direct deposits.

Direct deposits can take many forms, such as a paycheck, pension, government income or others;
To be eligible for the bonus, you must receive direct deposits totalling $2,000 over a 30-day period;
The minimum amount can be reached in a single deposit or in several;
This is not a limited-time promotion. The premium rate will remain in effect until Wealthsimple decides to withdraw it.

The offer is also valid for clients who already use the Wealthsimple chequing account to receive their direct deposits. Upon the next deposit, Wealthsimple will check if you have received more than $2,000 in the last 30 days and will automatically adjust the interest rate.

Wealthsimple Chequing Account: A free alternative to traditional chequing accounts (+ $25 cash back with this offer) - wealthsimple cheque

Wealthsimple Chequing Account for Travellers

When travelling outside Canada, the prepaid Mastercard offers valuable benefits.

Wealthsimple Prepaid Mastercard

With the Prepaid Mastercard from Wealthsimple, you can access the money available in your chequing account with Wealthsimple.

With this welcome offer, you can get $25 cash back as a new client of Wealthsimple. All you have to do is open an account and deposit at least $1 within 30 days.

You can invest your money in an investment account or the cryptocurrency of your choice. You also earn interest on the balance of your Wealthsimple chequing account! Wealthsimple Generation clients can get an interest rate of up to 2.25%.

Plus, there are no foreign transaction fees on any purchase made in a currency other than the Canadian dollar, and no annual fee.

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Wealthsimple Prepaid Visa Platinum* Card

WealthsimpleCash Back

Annual fee: $0
Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$25Total$25Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.: $25
Welcome offer: $25 cash back

With the Wealthsimple Prepaid Visa Platinum* Card, you can access your available funds in your Wealthsimple chequing account.

With this welcome offer, you can get $25 cash back as a new Wealthsimple client. To do this, you simply need to open an account and then deposit at least $1 within 30 days.

In addition, there are no foreign transaction fees for any purchase made in a currency other than the Canadian dollar and no annual fees.

Legal

* Trademark of Visa Int., used under license. Terms and conditions apply. For the most up-to-date product details, please visit Wealthsimple.com.

Annual fee

Primary card$0

Value

1st Year Value$295

Free ATM Withdrawals

The Wealthsimple Prepaid Mastercard does not charge any fees for ATM withdrawals worldwide. Fees will be charged by the ATM provider (usually around $3 CAD), but Wealthsimple automatically reimburses them, with no maximum amount and no limit on the number of reimbursements, for clients who have a chequing account.

Unlike the Visa Wise prepaid card, there is no monthly limit on free withdrawals. ATM withdrawal limits are set at the equivalent of CAD $3,000 per day and CAD $10,000 per week.

The prepaid Mastercard is accepted worldwide, anywhere Mastercard is accepted. However, restrictions apply in certain countries. You will not be able to use the card in these destinations for either withdrawals or transactions. The full list of excluded countries can be found here.

For these locations, the Wise card is a good alternative for ATM withdrawals. Since both Wise and the Wealthsimple Chequing account are free cards, I signed up for both. In addition, I carry both cards in my travel wallet (in addition to my Scotiabank Passport Visa Infinite + Card) in case I lose one or one of my accounts is blocked. The perfect trio for travel!

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Scotiabank Passport^® Visa Infinite +* Card

Scotiabank Scene+

Annual fee: $150
Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$350Total$350Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.: $350
Welcome offerAfter $2,000 in 3 months: Up to 35,000 points; Ends Nov 1, 2026

With this welcome offer for the Scotiabank Passport^® Visa Infinite^+* Card, you’ll earn 25,000 welcome bonus Scene+ points after charging $2,000 in purchases to your account within the first three months.

Plus, every year, earn an annual bonus of at least 10,000 Scene+ points when you charge at least $40,000 in purchases to your account. In total, the offer represents up to 35,000 Scene+ points and a value of up to $1,250 in the first year, including rewards, savings on foreign transaction fees and airport lounge access.

With the Scotiabank Passport Visa Infinite +* Card, you earn 3 points per $1 spent at Sobeys, IGA, Safeway, Foodland and participating Co-ops, and 2 points per $1 spent at other grocery stores, restaurants, eligible entertainment and eligible daily transit. You earn 1 point per $1 on all your other everyday purchases.

These points can be redeemed against any travel purchase at a rate of 1,000 points = $10 (flights, hotels, all-inclusives and even Airbnb), or as cash back with Scene+ at the same rate.

The Scotiabank Passport Visa Infinite +* Card also offers:

No fees for foreign currency transactions
6 complimentary airport VIP lounge passes
Excellent insurance for your travels and purchases
Visa Infinite* Concierge Services

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* The potential value of savings and rewards during the first 12 months includes the value of the welcome offer, the potential value of points earned in the first year, the value of savings on foreign currency transaction fees and the cost of airport lounge access as of May 22, 2026:

$250 in travel rewards (25,000 bonus Scene+ points) for new Scotiabank Passport^® Visa Infinite +* Cardholders who charge $2,000 in purchases to their account within the first three (3) months;

$100 in travel rewards (10,000 bonus Scene+ points) for cardholders who charge $40,000 in purchases to their account;

$50 in savings from the annual fee waiver on the first additional card for new Scotiabank Passport Visa Infinite +* Card credit card account holders;

$132 in savings on foreign currency transaction fees based on the average amount of foreign currency purchases made per active account over the past 24 months (by saving on the 2.5% foreign currency transaction fees typically charged by other credit card issuers);

$364 representing the potential value of points earned in the first year (36,400 Scene+ points) based on the average amount of purchases made per active account over the past 24 months, assuming an average spend of 21% of purchases in categories eligible for accelerated earn rates of 2X and 3X points;

$358 representing the value of complimentary membership in the Visa Airport Companion program which includes 6 airport lounge passes (based on « Preferred » membership valued at approximately $357 CAD/$259 USD). Based on the exchange rate in effect on May 22, 2026.

Maximum potential value after the first year = $1,254 (rounded to $1,250)

The actual value of offers, savings realized and points earned will vary depending on card usage and eligibility for applicable offers. Conditions apply.

1 Offer description and conditions: The 25,000 Scene+ points offer (the « offer ») applies only to new Scotiabank Passport Visa Infinite +* Card credit card accounts (the « accounts ») opened between August 4, 2026 and November 1, 2026 (regardless of the date you apply for the account) subject to the conditions below. The offer may be modified, cancelled or extended at any time without notice, and it cannot be combined with any other offer.

In addition, as a Scotiabank Passport Visa Infinite +* Cardholder, you are eligible for an annual bonus of 10,000 Scene+ points if you charge at least $40,000 in eligible everyday purchases to your Scotiabank Passport Visa Infinite +* Card account over the course of one year. Conditions apply; see below for more details.

Description and conditions of the 25,000 bonus Scene+ points offer: To be eligible for the 25,000 bonus Scene+ points offer (« 25,000 bonus points »), you must charge at least $2,000 in total eligible purchases to your account within the first three months following the account opening date.

Conditions for the annual 10,000 Scene+ points bonus:
As a Scotiabank Passport Visa Infinite +* Card credit cardholder, you can earn an annual bonus of at least 10,000 Scene+ points (the « annual points bonus ») if you charge at least $40,000 in eligible purchases to your account over the course of one year (12-month period). The annual period begins on the account opening date; a new period starts again every twelve months thereafter. If you replace another Scene+-eligible credit card with the Scotiabank Passport Visa Infinite +* Card (i.e., it is not a new card or an additional card), the opening date of your original account will be carried over to your new Scotiabank Passport Visa Infinite +* Card account and your annual period under this offer will begin on the next anniversary date of your original account opening. For example, if you originally opened a Scotiabank Gold American Express^® Card account on January 15, 2022 and you switch to the Scotiabank Passport Visa Infinite +* Card on July 15, 2025, your annual period under the 10,000 Scene+ points annual bonus offer will begin on January 15, 2026 (your next anniversary date) and a new period will start again on January 15 each year thereafter. You will earn 2,000 bonus Scene+ points for each additional $10,000 in purchases made during the same year once you have reached the $40,000 annual purchase threshold.

Eligible purchases means purchases, less refunds, returns and any other similar credits, and excludes payments, cash advances (including balance transfers and quasi-cash transactions), interest charges, as well as card fees and other fees.

Fulfillment of the annual points bonus: Bonus points will be credited within approximately eight weeks after you become eligible for a bonus, provided the account is open and in good standing. In the case of a joint account with a primary borrower and a co-borrower, bonus points will be credited as follows: (i) the 25,000 bonus points and the annual points bonus will be credited to the Scene+ account linked to the account of the borrower who made the transaction that reached the eligible purchase threshold ($2,000, or $40,000) within the appropriate timeframe (the first three months, or the first 12 months). If an additional cardholder makes the transaction that reaches the eligible purchase threshold for the 25,000 bonus points, or the annual points bonus, the bonus points will be credited to the Scene+ account linked to the primary borrower’s account. It is possible to transfer points between the Scene+ accounts of a primary borrower, a co-borrower or an additional cardholder by contacting Scene+. An account is in good standing if it is not past due, there is no over-limit, and the cardholder(s) have complied with the terms of the Revolving Credit Agreement that applies to the account. All other program conditions continue to apply during the offer period.

Offer eligibility and exclusions: You cannot take advantage of the offer if you are currently a primary or secondary cardholder of a Scotiabank personal credit card or have been one in the past two years, including if you transfer your balance from an existing Scotiabank personal credit card account, and if you are a Scotiabank employee. Subject to the exclusions mentioned above, small business credit cardholders are eligible for this offer.

Rates and fees: The annual fees are $150 for the primary card, $0 for the first additional card and $50 for each additional card thereafter (including those issued to joint account holders and additional cardholders). The preferred annual interest rates applicable to the account are as follows: 20.99% on purchases and 22.99% on cash advances (including balance transfers and quasi-cash transactions). The rates, fees, and features and benefits, which are described in the disclosure statement accompanying the application, may be changed.

Savings at Shell

Get up to 7 cents per litre in instant fuel discounts for a limited time and earn up to 3 cents per litre in Scene+ points value with an eligible Scotiabank Passport Visa Infinite + card linked to a Shell Go+ Account:

Instant 3 cents per Litre Discount on Fuel Purchases (All Grades): Receive an instant 3 cents per litre discount on purchases of fuel (all grades) (“Fuel Purchases (All Grades)”) at participating Shell locations in Canada when you use any eligible Scotiabank debit card or credit card linked to a Shell Go+ Account, up to a maximum of 1,000 litres per month per Scotiabank debit card and per Scotiabank credit card account. This total limit resets at the start of each new month per payment card account. This discount is subject to the Scotiabank Fuel Benefit Terms and Conditions.
Instant 4 cents per Litre Discount on Premium Fuel: Between May 26, 2026 and June 1, 2027 (“Promotional Period”), receive an instant 4 cents per litre discount on purchases of V-Power^® gasoline, or V-Power^® diesel (“Premium Fuel Purchases”) at participating Shell locations in Canada when you use any eligible Scotiabank credit card that earns Scene+ points linked to a Shell Go+ Account, up to a maximum of 1,000 litres per month per credit card account. This total limit resets at the start of each new month per credit card account. This promotional offer, including the Promotional Period, may be changed, extended, or withdrawn at any time without notice. These promotional offer terms are in addition to the Scotiabank Fuel Benefit Terms and Conditions.
Earn up to 3 cents per Litre in Scene+ points Value (Equivalent) on Fuel Purchases: Each time you use your linked Scotiabank credit card that earns Scene+ points on Fuel Purchases (All Grades) at participating Shell locations in Canada, you will earn at least 1 Scene+ point per $1 spent. Plus, as a Scene+ Member you will also automatically earn 1 Scene+ point for each litre in Fuel Purchases (All Grades), and as a Shell Go+ member, automatically earn 1 additional Scene+ point for each litre in Premium Fuel Purchases, made with your linked Scotiabank credit card. This means that for every litre in fuel purchased with your linked credit card, you can earn the equivalent of up to 3 cents of redeemable Scene+ points value based on a redemption value of $10 for every 1,000 Scene+ points redeemed for fuel purchases at participating Shell locations. Actual value may be lower depending on how you choose to redeem your Scene+ points. Earn and redemption limits may apply. See the Scene+ Program Terms and Conditions available at sceneplus.ca/terms-and-conditions for full details including redemption options and additional terms.

Note: Highest value of 10 cents per litre assumes a Premium Fuel Purchase made with a Scotiabank Passport Visa Infinite + Card linked to a Shell Go+ Account. Actual value will vary depending on payment card used and whether or not the card is linked, fuel grade purchased, and how you choose to redeem your Scene+ points.

Additional 3¢/L at Shell (limited time)

Additional 3¢/L Fuel Discount Offer: Offer valid from October 5, 2026 to December 31, 2026 (“Promotional Period”), eligible Scotiabank credit and debit cardholders enrolled in the Shell Fuel Benefits Program who have linked an eligible Scotiabank payment card (an “Eligible Card”) to their Shell Go+ account will receive an additional instant fuel discount of 3 cents per litre on eligible fuel purchases at participating Shell-branded retail locations in Ontario, British Columbia, Alberta, Saskatchewan, Manitoba, and the Northwest Territories (the “Eligible Provinces”) excluding Shell Flying J locations. Fuel purchases made outside the Eligible Provinces are not eligible for this offer.

To receive the additional fuel discount, customers must pay with their linked Eligible Card at the time of purchase.

The additional fuel discount is in addition to the fuel savings available through the Shell Fuel Benefits Program and may be combined with other eligible fuel discounts, rewards programs, and promotional fuel offers unless otherwise stated in the applicable offer terms and conditions.

The additional fuel discount is available on up to 1,000 litres of eligible fuel purchases per calendar month for each Eligible Card. The 1,000-litre limit resets at the beginning of each calendar month.

The additional fuel discount is non-transferable, is not redeemable for cash, and cannot be substituted or exchanged.

Participation in the Shell Fuel Benefits Program is subject to the applicable program terms and conditions available at Scotiabank Fuel Benefit Terms and Conditions.

Shell Canada reserves the right to make changes to this offer and to terminate the offer at any time, for any reason and without notice.

All other applicable terms and conditions of the Shell Fuel Benefits Program, Shell Go+ and Scotiabank continue to apply.

Annual fee

Primary card$150

Additional card$0

Annual income required

Individual$60,000

Household$100,000

Conversion fees

Earning rate

3xWith the partner brand
2xGroceries
2xRestaurants
2xTransit
2xEntertainment
1xAll spending

Value

1st Year Value$604

2nd Year Value$397

Card benefits

Concierge service24/7

Airport lounge access$240

Travel insurance

Travel medical (under 55)Up to $2,000,000 / 25 days

Travel medical (55-64)Up to $2,000,000 / 25 days

Travel medical (65+)Up to $2,000,000 / 3 days

Trip CancellationUp to $1,500

Trip InterruptionUp to $2,500

Delayed BaggageUp to $1,000

Lost BaggageUp to $1,000

Flight DelayUp to $500

Hotel BurglaryUp to $1,000

Travel AccidentUp to $500,000

Purchase protection

Purchase ProtectionIncluded

Extended Warranty+1 years

Auto Rental CollisionUp to $65,000 / 48 days

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Scotiabank Gold American Express^® Card

Scotiabank Scene+

Annual fee: $120
Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$500Total$500Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.: $500
Welcome offerAfter $7,500 in 12 months: Up to 50,000 points; Ends Nov 1, 2026

The Scotiabank Gold American Express Card offers an excellent welcome bonus.

Until November 1, 2026, you can earn up to 50,000 bonus Scene+ points, broken down as follows:

30,000 Scene+ points by charging $2,000 in purchases to the card within the first 3 months
20,000 Scene+ points by making $7,500 in purchases on the card in the first year

This represents a value of up to $500 for travel (including Airbnb).

With the Scotiabank Gold American Express Card, you earn 6 points per dollar spent at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà par IGA, Voilà by Safeway, Chalo! grocery stores. FreshCo, Thrifty Foods, IGA West, Les Marchés Tradition, Rachelle Béry and Co-Op.

Also, you earn 5 points per dollar for:

Grocery stores
Restaurants
Entertainment centers

And 3 points per dollar on gas, transit and streaming services purchases.

You can redeem your points on travel purchases (flights, hotels, all-inclusive and even Airbnb). You can also use your points as cash back rewards with Scene+.

The Scotiabank Gold American Express Card also offers no foreign transaction fees, excellent insurance for your travel or purchases, concierge service, exclusive American Express benefits like the Front of the Line program.

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* The potential value of savings and rewards during the first 12 months includes the value of the welcome offer, the potential value of points earned in the first year and the value of foreign transaction fee savings as of May 22, 2026:

$300 in travel rewards (30,000 bonus Scene+ points) for new Scotiabank Gold American Express Cardholders who make purchases totaling $2,000 in the first 3 months

$200 in travel rewards (20,000 bonus Scene+ points) for making purchases totaling $7,500 in the first 12 months

$59 in foreign transaction fee savings based on the average annual amount of foreign currency purchases made per account over the last 24 months (saving on the 2.5% foreign transaction fee typically charged by other credit card issuers);

$398 corresponding to the potential value of points earned in the first year (38,500 Scene+ points) based on the average amount of purchases made, per account, over the last 24 months, assuming an average spend of 28% of purchases in categories eligible for accelerated earn rates of 6X, 5X and 3X points.

Maximum potential value after the first year = $957 (rounded to $950)

The actual value of offers, savings realized and rewards earned will vary depending on card usage and eligibility for offers. Conditions apply.

1 Offer Description and Conditions: The 50,000 Scene+ points offer (the « Offer ») applies only to new Scotiabank Gold American Express credit card accounts (the « Accounts ») opened between July 2, 2026, and November 1, 2026 (regardless of the date you apply for the account), subject to the conditions below. All other program terms and conditions continue to apply during the Offer period. The Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offer.

To qualify for the 30,000 bonus Scene+ points (the « 30,000 Bonus Points Offer »), you must make eligible purchases totaling at least $2,000 within three months of the account opening date. To qualify for the 20,000 additional bonus Scene+ points (the « 20,000 Additional Bonus Points Offer »), you must make $7,500 in eligible purchases on your new account during the first year (twelve months). Eligible purchases mean purchases, less refunds, returns and any other similar credits, and exclude payments, cash advances (including balance transfers and quasi-cash transactions), interest charges, card fees and other fees.

Fulfillment of the Annual Bonus: Bonus points will be credited to the Scene+ account within approximately eight weeks after you qualify for a bonus, provided the account is open and in good standing. In the case of a joint account with a primary borrower and a co-borrower, bonus points will be credited as follows: (i) the 30,000 bonus points and the 20,000 additional bonus points will be credited to the Scene+ account linked to the account of the borrower who made the transaction that reached the eligible purchase threshold ($2,000 or $7,500) within the appropriate timeframe (the first three months or the first 12 months). If a supplementary cardholder makes the transaction that reaches the eligible purchase threshold for the 30,000 bonus points or the 20,000 additional bonus points, the bonus points will be credited to the Scene+ account linked to the primary borrower’s account. Points can be transferred between the Scene+ accounts of a primary borrower, co-borrower or supplementary cardholder by contacting Scene+. An account is in good standing if it is not delinquent, the credit limit is not exceeded, and the holder(s) have complied with the terms of the Revolving Credit Agreement applicable to the account. All other program terms and conditions continue to apply during the Offer period. The Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offer.

Eligibility and exclusions: You are not eligible for the Offer if you are currently a primary or secondary cardholder of a Scotiabank personal credit card or if you have been within the past two years, including if you transfer your balance from an existing Scotiabank personal credit card account, and if you are a Scotiabank employee. Subject to the exclusions mentioned above, Scotiabank small business credit cardholders are eligible for this Offer.

Rates and Fees: The current annual fee is $120 for the primary card and $29 for each additional card (including those issued to joint account holders and additional cardholders). The preferred annual interest rates currently applicable to the account are: 21.99% on purchases and 22.99% on cash advances (including balance transfers and quasi-cash transactions).
Rates, fees, features and benefits, which are described in the application statement, are subject to change.

Savings at Shell

Get up to 7 cents per litre in instant fuel discounts for a limited time and earn up to 5 cents per litre in Scene+ points value with a Scotiabank Gold American Express Card linked to a Shell Go+ Account:

Instant 3 cents per Litre Discount on Fuel Purchases (All Grades): Receive an instant 3 cents per litre discount on purchases of fuel (all grades) (“Fuel Purchases (All Grades)”) at participating Shell locations in Canada when you use any eligible Scotiabank debit card or credit card linked to a Shell Go+ Account, up to a maximum of 1,000 litres per month per Scotiabank debit card and per Scotiabank credit card account. This total limit resets at the start of each new month per payment card account. This discount is subject to the Scotiabank Fuel Benefit Terms and Conditions.
Instant 4 cents per Litre Discount on Premium Fuel: Between May 26, 2026 and June 1, 2027 (“Promotional Period”), receive an instant 4 cents per litre discount on purchases of V-Power^® gasoline, or V-Power^® diesel (“Premium Fuel Purchases”) at participating Shell locations in Canada when you use any eligible Scotiabank credit card that earns Scene+ points linked to a Shell Go+ Account, up to a maximum of 1,000 litres per month per credit card account. This total limit resets at the start of each new month per credit card account. This promotional offer, including the Promotional Period, may be changed, extended, or withdrawn at any time without notice. These promotional offer terms are in addition to the Scotiabank Fuel Benefit Terms and Conditions.
Earn up to 5 cents per Litre in Scene+ points Value (Equivalent) on Fuel Purchases: Each time you use your linked Scotiabank credit card that earns Scene+ points on Fuel Purchases (All Grades) at participating Shell locations in Canada, you will earn at least 3 Scene+ points per $1 spent. Plus, as a Scene+ Member you will also automatically earn 1 Scene+ point for each litre in Fuel Purchases (All Grades), and as a Shell Go+ member, automatically earn 1 additional Scene+ point for each litre in Premium Fuel Purchases, made with your linked Scotiabank credit card. This means that for every litre in fuel purchased with your linked credit card, you can earn the equivalent of up to 5 cents of redeemable Scene+ points value based on a redemption value of $10 for every 1,000 Scene+ points redeemed for fuel purchases at participating Shell locations. Actual value may be lower depending on how you choose to redeem your Scene+ points. Earn and redemption limits may apply. See the Scene+ Program Terms and Conditions available at sceneplus.ca/terms-and-conditions for full details including redemption options and additional terms.

Note: Highest value of 12 cents per litre assumes a Premium Fuel Purchase made with a Scotiabank Gold American Express Card linked to a Shell Go+ Account. Actual value will vary depending on payment card used and whether or not the card is linked, fuel grade purchased, and how you choose to redeem your Scene+ points.

Additional 3¢/L at Shell (limited time)

To receive the additional fuel discount, customers must pay with their linked Eligible Card at the time of purchase.

The additional fuel discount is non-transferable, is not redeemable for cash, and cannot be substituted or exchanged.

Participation in the Shell Fuel Benefits Program is subject to the applicable program terms and conditions available at Scotiabank Fuel Benefit Terms and Conditions.

Shell Canada reserves the right to make changes to this offer and to terminate the offer at any time, for any reason and without notice.

All other applicable terms and conditions of the Shell Fuel Benefits Program, Shell Go+ and Scotiabank continue to apply.

Annual fee

Primary card$120

Additional card$29

Annual income required

Individual$12,000

Household$12,000

Conversion fees

Earning rate

6xWith the partner brand
5xGroceries
5xEntertainment
5xRestaurants
3xGas
3xStreaming
3xTransit
1xAll spending

Value

1st Year Value$1,460

2nd Year Value$461

Card benefits

Concierge service24/7

Travel insurance

Travel medical (under 55)Up to $1,000,000 / 25 days

Travel medical (55-64)Up to $1,000,000 / 25 days

Travel medical (65+)Up to $1,000,000 / 3 days

Trip CancellationUp to $1,500

Trip InterruptionUp to $1,500

Delayed BaggageUp to $1,000

Lost BaggageUp to $1,000

Flight DelayUp to $500

Hotel BurglaryUp to $1,000

Travel AccidentUp to $500,000

Purchase protection

Purchase ProtectionIncluded

Extended Warranty+1 years

Mobile DeviceUp to $1,000 / 1 years

Auto Rental Collision (primary)Up to $65,000 / 48 days

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Wise Visa Card

Wise

Annual fee: $0
Welcome offer: No current welcome offer

With the Wise Card, a no-annual-fee card, you can hold and exchange over 40 currencies directly in your Wise account.

With the Wise Card, you can spend freely in over 150 countries and withdraw cash from 2.3 million ATMs. Your ATM withdrawals are free up to CAD 100 per calendar month.

You can also take advantage of currency conversions at market exchange rates, with transparent, low fees. These fees will be much lower than those your credit card charges (generally 2.5% of the transaction).

You can manage your account easily with the Wise application. Moreover, you can manage your card with complete peace of mind by freezing and thawing it instantly. The automatic currency conversion feature ensures that you always pay the lowest possible fees when using currencies not held on your account.

Keep an eye on your currency balances within the app and receive instant notifications for added security. As a debit card, the Wise Card helps you manage your budget without accumulating debt or incurring credit charges. Opt for the Wise Card and optimize your finances on a daily basis or when you travel abroad!

Annual fee

Primary card$0

Conversion fees

How to Open a Wealthsimple Chequing Account

The features of the Wealthsimple chequing account are available in the mobile app and on the Wealthsimple website.

All account types with Wealthsimple are now unified in the same application with a single username and password. To open an account, you must be a Canadian resident, have reached the age of majority in your province and have a valid Canadian telephone number.

Do you have children who are minors? Once your chequing account is open, you can open a kids and teens account for them, with its own prepaid Visa card and parental controls. See our article on the Wealthsimple kids and teens account for the conditions and limits. It is not available in Quebec yet.

The process is fairly straightforward, and once you’ve created your Wealthsimple login and verified your e-mail address, you can open your first account. Verification of your phone number will also be required.

Wealthsimple Chequing Account: A free alternative to traditional chequing accounts (+ $25 cash back with this offer) - ouvrir comptes cheque 3 FR

Wealthsimple Chequing Account: A free alternative to traditional chequing accounts (+ $25 cash back with this offer) - ouvrir compte cheque 2 FR

Once your chequing account is open, you will have access to a virtual card to use with a virtual wallet (Apple Pay, Google Pay, Samsung Pay) and for online purchases.
To receive a physical card, you must request one from the app or website. You will receive it by mail within 10 to 14 business days.

Wealthsimple Chequing Account: A free alternative to traditional chequing accounts (+ $25 cash back with this offer) - carte prepayee mastercard FR

Conclusion

In summary, the Wealthsimple chequing account offers a complete and convenient financial solution, with a chequing account, a high-interest savings account, and a prepaid Mastercard.

It is a modern and fee-free option, ideal for all-in-one financial management, whether you travel or are looking to simplify your finances!

Compare

Wealthsimple Prepaid Visa Platinum* Card

WealthsimpleCash Back

Annual fee: $0
Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$25Total$25Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.: $25
Welcome offer: $25 cash back

With the Wealthsimple Prepaid Visa Platinum* Card, you can access your available funds in your Wealthsimple chequing account.

With this welcome offer, you can get $25 cash back as a new Wealthsimple client. To do this, you simply need to open an account and then deposit at least $1 within 30 days.

In addition, there are no foreign transaction fees for any purchase made in a currency other than the Canadian dollar and no annual fees.

Legal

* Trademark of Visa Int., used under license. Terms and conditions apply. For the most up-to-date product details, please visit Wealthsimple.com.

Annual fee

Primary card$0

Value

1st Year Value$295

Wealthsimple Chequing Account Frequently Asked Questions

What is the Wealthsimple Chequing account?

The Wealthsimple Chequing account is an all-in-one financial platform that combines the features of a chequing account, a prepaid Mastercard, a high-interest savings account, and an investment solution. The mobile app aims to simplify everyday money management.

What fees are associated with the Wealthsimple Chequing account?

The Wealthsimple Chequing account does not charge monthly account fees, annual fees for the prepaid Mastercard, or fees for ATM withdrawals. However, potential charges apply for additional services such as instant transfers to external accounts.

Will the prepaid Mastercard affect my credit score?

No, prepaid Mastercard cards are Mastercard Debit cards. Card membership won’t “hit” your credit report, and spending won’t be reported to the credit bureaus either.

Does the Wealthsimple Chequing account charge conversion fees for foreign currency transactions?

No, the Wealthsimple Chequing account does not charge the usual 2.5% fee for foreign currency transactions. The amount will be converted into Canadian dollars at the Mastercard rate of the day.

Can I withdraw cash with my prepaid Mastercard?

Yes, you can use your prepaid Mastercard to withdraw cash at ATMs anywhere Mastercard is accepted. These transactions are free of charge on the Wealthsimple side, but the ATMs charge their own fees.

Can I make Interac transfers to other people?

Yes, the Wealthsimple Chequing account offers Interac e-Transfers and instant transfers to other Wealthsimple Chequing accounts. Registration is required.

Can I open a joint account?

Clients can open joint chequing accounts through the Wealthsimple mobile app, with a limit of up to 8 joint accounts per person.

How does the automatic savings option work?

The Roundup feature was discontinued as of April 11, 2025

Is the Wealthsimple Chequing account safe?

Yes, data security is a priority for Wealthsimple. Your personal and financial information is encrypted and protected according to the same security standards as all Canadian banks.

Is the Wealthsimple Chequing account available in all countries?

To open a Wealthsimple Chequing account, you must be a resident of Canada. You can use the Mastercard in most countries, except for the exceptions listed here.

Can the Wealthsimple Chequing account replace a traditional bank?

For most everyday banking, yes. As of October 2026, the account receives payroll direct deposits, sends Interac e-Transfers, pays bills and handles pre-authorized debits. You can also deposit a Canadian cheque by photographing it in the app (amounts above your instant deposit limit become available after 3 to 8 business days), deposit cash for free at more than 5,300 Canada Post locations, and order a bank draft. However, Wealthsimple is not a bank and has no branches: your balance is held in trust with CDIC member institutions, which extends protection up to $1,000,000. USD cheques are not accepted. Keeping a no-fee account at a traditional bank remains a good backup.

Terms and conditions apply. For the most up-to-date product details, please visit Wealthsimple.com.

Our featured card

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Scotia Momentum^® Visa Infinite +* Card

Scotiabank Cash BackFirst-Year Annual Fee Rebate

Annual feeNo annual fee the first year: $0 $120
Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$300Annual fee rebated$120Total$420Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.: $420
Welcome offerAfter $2,000 in 3 months: Up to $300 Cash Back; Ends Nov 1, 2026

The Scotia Momentum^® VISA Infinite*+ card is recognized, year after year, as one of the best cash back credit cards in Canada. Milesopedia has even named it best cash back credit card in 2026.

Currently, thanks to this promotional offer, the Scotia Momentum Visa Infinite+ Card has no annual fee for the first year, including on additional cards. And you can get 15% cash back on all your purchases for the first three months (up to $2,000 in total purchases).

It also includes a new convenient benefit for travellers: enjoy 10 GB of free GigSky global mobile data for 15 days, as well as access to Travel Essentials to use essential apps like messaging, maps, and email while on the go. Cardholders also continue to receive 1 GB of free GigSky mobile data per year, plus a 20% discount on future GigSky purchases.

With the Scotia Momentum^® VISA Infinite+ card, you get:

4% cash back on grocery purchases and recurring payments
2% cash back on gas purchases, public transit, carpooling, and food delivery
1% cash back on all other purchases

For example, if you spend $1,000 per month on grocery purchases and/or recurring payments, you will get $40 cash back per month, or $480 per year, with this card, for this purchase category. And that’s not counting the other purchases you make with this card and the benefits it offers (including its excellent insurance coverage).

Also note that you can use your cash back at any time (the cash back balance must be at least $25).

Legal

1 Offer Terms and Description: The 15% cash back, 0% introductory balance transfer rate, and first-year annual fee waiver offer (the “Offer”) applies only to new Scotia Momentum Visa Infinite+ credit card accounts (the “Accounts”) opened, and any additional cards issued, between July 2, 2026, and November 1, 2026 (regardless of the date you apply for the Account), subject to the terms and conditions set out below. We will waive the initial annual fees, for the first year only, for the primary card and for each additional card. The Offer may be changed, cancelled, or extended at any time, without notice, and cannot be combined with any other offer.

Description and Terms of the 15% Cash Back Offer: You will receive 15% cash back on the first $2,000 in eligible purchases charged to your new Account during the three months following its opening date (the “Promotional Period”). Eligible purchases mean purchases, minus refunds, returns, and any similar credits, and exclude payments, cash advances (including balance transfers and quasi-cash transactions), interest charges, and card and other fees. After the Promotional Period, you will earn the usual cash back on your purchases, at the regular rate (the “Program Cash Back Rate”) described in the Scotia Momentum Visa Infinite+ cash back program terms (the “Program Terms”). The 15% cash back rate for each category is the sum of the regular cash back rate (which varies by category) and the bonus cash back rate that varies during the Program Cash Back Rate (the “cash back rate”).

The cash back earned under this offer will be credited to your Account, provided it is open and in good standing on the cash back payment date.
1. Bonus Cash Back Rate: Cash back earned at the Bonus Cash Back Rate may be credited to your Account approximately 5 months following its opening date, or otherwise, in accordance with the Program Terms.
2. Regular Cash Back Rate: Cash back earned at the Program Regular Cash Back Rate may be used as described in the Program cash back.

EXAMPLE: If the Program Regular Cash Back Rate for grocery purchases and recurring payments is 4%, the Bonus Cash Back Rate will then be 11% for that purchase category, so that all eligible everyday purchases in this category will qualify for a total cash back of 15% during the Promotional Period, on the first $2,000 in purchases. If you make eligible everyday purchases at grocery stores and recurring payments totalling $2,000, the cash back credited to your Account for this category will be calculated as follows:
(1) a Bonus Cash Back of $220 (11% x $2,000), credited as an adjustment on your statement, and (2) the Regular Cash Back of $80 (4% x $2,000), which will appear on your monthly statements as it is earned.

All other program terms continue to apply during the Offer period.

Description and Terms of the 0% Introductory Balance Transfer Offer: The 0% introductory interest rate offer on balance transfers (the “Rate Offer”) applies only to eligible cash advances (including balance transfers and quasi-cash transactions, collectively referred to as “cash advances”), subject to the conditions below. This introductory rate applies for 12 months from this date (the “Promotional Period”). After the Promotional Period, the interest rate on cash advances covered by the 0% promotional rate (including any outstanding balance of such cash advances at the end of the Promotional Period) will revert to the preferred interest rate applicable to cash advances (currently 22.99%). A fee corresponding to 2% of the amount of any cash advance made during the Promotional Period applies (minimum fee of $5.00).

The Offer is subject to any cash advance limit on your Account. This Offer is also based on your approved credit limit on the date of this Offer. This means that if the sum of transferred balances exceeds the approved credit limit, balance transfers may not be processed. This Offer cannot be used to transfer a balance from another Scotiabank account, nor to make a payment or deposit to another Scotiabank account.

Cancellation of the promotional rate: If we do not receive your minimum payment by its due date shown on your statement twice in a row, you will lose the benefits of this special rate offer and your interest rates will revert to the annual rates normally applicable to your Account (currently 25.99% for purchases and 27.99% for cash advances).

Application of Payments: For residents of Quebec: In general, if one or more interest rates apply to your Account, we apply payments according to the interest rate(s) applicable to the transactions posted to your Account (from highest to lowest rate). For residents outside Quebec: In general, if you make a payment greater than the minimum amount shown on your statement, the difference is applied proportionally to the different groups of charges billed to your Account. Charges are grouped based on the interest rate applicable to them. Your payment cannot be applied to the balance of your choice. Consult your credit card agreement for more information on how payments are applied to your Account.

Description and Terms of the Annual Fee Waiver Offer: We will waive the annual fees, for the first year only, for the primary card and for each additional card issued between July 2, 2026, and November 1, 2026.

Eligibility and Exclusions: You are not eligible for this Offer if you are currently a primary or secondary holder of a Scotiabank personal credit card or have been within the last two years, including if you transfer your balance from a Scotiabank personal credit card account and if you are a Scotiabank employee. Subject to the exclusions mentioned above, holders of a Scotiabank small business credit card are eligible for this Offer. By accepting this Offer, you confirm that you meet all eligibility requirements. We reserve the right to revoke this Offer at any time if we determine that you do not meet the eligibility requirements, including after its acceptance or the opening of the Account.

Rates and Fees: The current annual fees are $120 for the primary card and $50 for each additional card (including those issued for co-account holders and additional cardholders). The current preferred annual interest rates applicable to the Account are: 20.99% on purchases and 22.99% on cash advances. Rates, fees, features, and benefits, which are described in the application disclosure, may be changed.

Savings at Shell

Cardholders with a Scene+ membership who link their Scotia Momentum^® Visa Infinite +* Card and their Scene+ account to a Shell Go+ Account can get up to 7 cents per litre in instant fuel discounts, cash back, and Scene+ points value when they purchase eligible fuel with their linked credit card:

Instant 3 cents per Litre Discount on Fuel Purchases (All Grades): Receive an instant 3 cents per litre discount on purchases of fuel (all grades) (“Fuel Purchases (All Grades)”) at participating Shell locations in Canada when you use any eligible Scotiabank debit card or credit card linked to a Shell Go+ Account, up to a maximum of 1,000 litres per month per Scotiabank debit card and per Scotiabank credit card account. This total limit resets at the start of each new month per payment card account. This discount is subject to the Scotiabank Fuel Benefit Terms and Conditions.
Earn 2 cents per Litre in cash back: When you use your Scotia Momentum^® Visa Infinite +* Card on Fuel Purchases (All Grades) you will earn 2% cash back on eligible Net Purchases (up to an annual spend limit of $25,000) at Gas Stations (Merchant Category Codes (“MCC”): 5541, 5542). Assumes an average fuel price of at least $1.00/L. “Net Purchases” means eligible new purchases charged and posted on the Account during a statement period less, returns (including credit vouchers), refunds or other credits. Balance Transfers, Cash Advances, Cash-Like Transactions, interest charges, fees, and insurance premiums posted to your Credit Card Account are not eligible to earn cash back. This benefit is subject to the Scotia Momentum^® Visa Infinite +* Card cash back Program Terms and Conditions.
Scene+ Members earn up to 2 cents per Litre in Scene+ points Value: Scene+ Members earn 1 Scene+ point for each litre in Fuel Purchases (All Grades) when they present or make available their Scene+ account number or Scene+ membership card at the time of purchase. Plus, Scene+ Members who link their Scene+ account to the Shell Go+ app will automatically earn 1 Scene+ point for each litre of V-Power^® gasoline or V-Power^® diesel purchased (“Premium Fuel Purchases”). Scene+ points value is based on an average redemption value of $10 for every 1000 Scene+ points redeemed on fuel purchases. Actual value may be lower depending on how you choose to redeem your Scene+ points. Earn and redemption limits may apply. See the Scene+ Program Terms and Conditions available at sceneplus.ca/terms-and-conditions for full details including redemption options and additional terms.

Note: Highest value of 7 cents per litre assumes a Premium Fuel Purchase (minimum price of $1.00 per litre) made with your Scotia Momentum^® Visa Infinite +* Card linked to a Shell Go+ Account and with your Scene+ account also linked to the Shell Go+ account. Actual value will vary depending on whether or not the credit card is linked, fuel grade purchased, cost of fuel at time of purchase, whether or not you are a Scene+ member, and how you choose to redeem your Scene+ points.

Additional 3¢/L at Shell (limited time)

To receive the additional fuel discount, customers must pay with their linked Eligible Card at the time of purchase.

The additional fuel discount is non-transferable, is not redeemable for cash, and cannot be substituted or exchanged.

Participation in the Shell Fuel Benefits Program is subject to the applicable program terms and conditions available at Scotiabank Fuel Benefit Terms and Conditions.

Shell Canada reserves the right to make changes to this offer and to terminate the offer at any time, for any reason and without notice.

All other applicable terms and conditions of the Shell Fuel Benefits Program, Shell Go+ and Scotiabank continue to apply.

Annual fee

Primary card$120

Additional card$50

Annual income required

Individual$60,000

Household$100,000

Conversion fees

2.5%

Earning rate

4xGroceries
4xBills & recurring payments
4xTelecom
2xGas
2xTransit
2xStreaming
1xAll spending

Value

1st Year Value$1,212

2nd Year Value$408

Card benefits

Concierge service24/7

Travel insurance

Travel medical (under 55)Up to $1,000,000 / 15 days

Travel medical (55-64)Up to $1,000,000 / 15 days

Trip CancellationUp to $1,500

Trip InterruptionUp to $2,000

Delayed BaggageUp to $500

Lost BaggageUp to $500

Flight DelayUp to $500

Travel AccidentUp to $500,000

Purchase protection

Purchase ProtectionIncluded

Extended Warranty+1 years

Mobile DeviceUp to $1,000 / 1 years

Auto Rental CollisionUp to $65,000 / 48 days

Our editorial integrity

Our reviews and rankings are based on an objective assessment. Advertisers do not influence our content. We may receive compensation through some links; our analysis and opinions remain independent.

Comments from our members

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Wealthsimple has since launched Wealthsimple Family to manage household finances.

Their recently enhanced Wealthsimple Chequing product offers a hybrid between a chequing account, a savings account and a prepaid Mastercard with rewards. Let’s explore its features in detail.

What is a Wealthsimple Chequing account?

Compare

Wealthsimple Prepaid Visa Platinum* Card

WealthsimpleCash Back

Annual fee: $0
Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$25Total$25Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.: $25
Welcome offer: $25 cash back

With the Wealthsimple Prepaid Visa Platinum* Card, you can access your available funds in your Wealthsimple chequing account.

With this welcome offer, you can get $25 cash back as a new Wealthsimple client. To do this, you simply need to open an account and then deposit at least $1 within 30 days.

In addition, there are no foreign transaction fees for any purchase made in a currency other than the Canadian dollar and no annual fees.

Legal

* Trademark of Visa Int., used under license. Terms and conditions apply. For the most up-to-date product details, please visit Wealthsimple.com.

Annual fee

Primary card$0

Value

1st Year Value$295

Benefits of the Wealthsimple Chequing account

Traditional Chequing Account Features

With a Wealthsimple Chequing account, you can:

Shop wherever Mastercard is accepted
Receive direct deposits like your payroll
Send and receive INTERAC e-transfers
Pay your bills
Pre-authorized debits (cell phone bills, for example)
Automatically invest your paycheck

Plus, there’s no limit to the number of transactions you can make in a month. Deposits are insured by the Canada Deposit Insurance Corporation (CDIC) up to $1,000,000.

A High-Interest Savings Account

In addition to all the functions of a traditional chequing account, the Wealthsimple chequing account is also a high-interest savings account.

Here are the eligibility requirements for each Wealthsimple tier:

Wealthsimple Level	Assets with Wealthsimple	Interest rate
Essential	Less than $100,000	1,25 %
Benefit	Between $100,000 and $499,999	1,75 %
Generation	More than $500,000	2,25 %

These current rates are not promotional. They will remain as such until Wealthsimple decides to change them, in accordance with the recommendations and policy interest rate of the Bank of Canada.

Interest is calculated daily and deposited monthly (on the first day of the month) into your Wealthsimple Chequing account.

A Bonus for Direct Deposits

Since 2023, the interest rate is increased by 0.5% (up to a total rate of 2.25%) if you choose the Wealthsimple chequing account as the account for your direct deposits.

Direct deposits can take many forms, such as a paycheck, pension, government income or others;
To be eligible for the bonus, you must receive direct deposits totalling $2,000 over a 30-day period;
The minimum amount can be reached in a single deposit or in several;
This is not a limited-time promotion. The premium rate will remain in effect until Wealthsimple decides to withdraw it.

Wealthsimple Chequing Account for Travellers

When travelling outside Canada, the prepaid Mastercard offers valuable benefits.

Wealthsimple Prepaid Mastercard

With the Prepaid Mastercard from Wealthsimple, you can access the money available in your chequing account with Wealthsimple.

With this welcome offer, you can get $25 cash back as a new client of Wealthsimple. All you have to do is open an account and deposit at least $1 within 30 days.

Plus, there are no foreign transaction fees on any purchase made in a currency other than the Canadian dollar, and no annual fee.

Compare

Wealthsimple Prepaid Visa Platinum* Card

WealthsimpleCash Back

Annual fee: $0
Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$25Total$25Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.: $25
Welcome offer: $25 cash back

With the Wealthsimple Prepaid Visa Platinum* Card, you can access your available funds in your Wealthsimple chequing account.

With this welcome offer, you can get $25 cash back as a new Wealthsimple client. To do this, you simply need to open an account and then deposit at least $1 within 30 days.

In addition, there are no foreign transaction fees for any purchase made in a currency other than the Canadian dollar and no annual fees.

Legal

* Trademark of Visa Int., used under license. Terms and conditions apply. For the most up-to-date product details, please visit Wealthsimple.com.

Annual fee

Primary card$0

Value

1st Year Value$295

Free ATM Withdrawals

Unlike the Visa Wise prepaid card, there is no monthly limit on free withdrawals. ATM withdrawal limits are set at the equivalent of CAD $3,000 per day and CAD $10,000 per week.

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Scotiabank Passport^® Visa Infinite +* Card

Scotiabank Scene+

Annual fee: $150
Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$350Total$350Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.: $350
Welcome offerAfter $2,000 in 3 months: Up to 35,000 points; Ends Nov 1, 2026

These points can be redeemed against any travel purchase at a rate of 1,000 points = $10 (flights, hotels, all-inclusives and even Airbnb), or as cash back with Scene+ at the same rate.

The Scotiabank Passport Visa Infinite +* Card also offers:

No fees for foreign currency transactions
6 complimentary airport VIP lounge passes
Excellent insurance for your travels and purchases
Visa Infinite* Concierge Services

Legal

$250 in travel rewards (25,000 bonus Scene+ points) for new Scotiabank Passport^® Visa Infinite +* Cardholders who charge $2,000 in purchases to their account within the first three (3) months;

$100 in travel rewards (10,000 bonus Scene+ points) for cardholders who charge $40,000 in purchases to their account;

$50 in savings from the annual fee waiver on the first additional card for new Scotiabank Passport Visa Infinite +* Card credit card account holders;

Maximum potential value after the first year = $1,254 (rounded to $1,250)

The actual value of offers, savings realized and points earned will vary depending on card usage and eligibility for applicable offers. Conditions apply.

Savings at Shell

Instant 3 cents per Litre Discount on Fuel Purchases (All Grades): Receive an instant 3 cents per litre discount on purchases of fuel (all grades) (“Fuel Purchases (All Grades)”) at participating Shell locations in Canada when you use any eligible Scotiabank debit card or credit card linked to a Shell Go+ Account, up to a maximum of 1,000 litres per month per Scotiabank debit card and per Scotiabank credit card account. This total limit resets at the start of each new month per payment card account. This discount is subject to the Scotiabank Fuel Benefit Terms and Conditions.
Instant 4 cents per Litre Discount on Premium Fuel: Between May 26, 2026 and June 1, 2027 (“Promotional Period”), receive an instant 4 cents per litre discount on purchases of V-Power^® gasoline, or V-Power^® diesel (“Premium Fuel Purchases”) at participating Shell locations in Canada when you use any eligible Scotiabank credit card that earns Scene+ points linked to a Shell Go+ Account, up to a maximum of 1,000 litres per month per credit card account. This total limit resets at the start of each new month per credit card account. This promotional offer, including the Promotional Period, may be changed, extended, or withdrawn at any time without notice. These promotional offer terms are in addition to the Scotiabank Fuel Benefit Terms and Conditions.
Earn up to 3 cents per Litre in Scene+ points Value (Equivalent) on Fuel Purchases: Each time you use your linked Scotiabank credit card that earns Scene+ points on Fuel Purchases (All Grades) at participating Shell locations in Canada, you will earn at least 1 Scene+ point per $1 spent. Plus, as a Scene+ Member you will also automatically earn 1 Scene+ point for each litre in Fuel Purchases (All Grades), and as a Shell Go+ member, automatically earn 1 additional Scene+ point for each litre in Premium Fuel Purchases, made with your linked Scotiabank credit card. This means that for every litre in fuel purchased with your linked credit card, you can earn the equivalent of up to 3 cents of redeemable Scene+ points value based on a redemption value of $10 for every 1,000 Scene+ points redeemed for fuel purchases at participating Shell locations. Actual value may be lower depending on how you choose to redeem your Scene+ points. Earn and redemption limits may apply. See the Scene+ Program Terms and Conditions available at sceneplus.ca/terms-and-conditions for full details including redemption options and additional terms.

Additional 3¢/L at Shell (limited time)

To receive the additional fuel discount, customers must pay with their linked Eligible Card at the time of purchase.

The additional fuel discount is non-transferable, is not redeemable for cash, and cannot be substituted or exchanged.

Participation in the Shell Fuel Benefits Program is subject to the applicable program terms and conditions available at Scotiabank Fuel Benefit Terms and Conditions.

Shell Canada reserves the right to make changes to this offer and to terminate the offer at any time, for any reason and without notice.

All other applicable terms and conditions of the Shell Fuel Benefits Program, Shell Go+ and Scotiabank continue to apply.

Annual fee

Primary card$150

Additional card$0

Annual income required

Individual$60,000

Household$100,000

Conversion fees

Earning rate

3xWith the partner brand
2xGroceries
2xRestaurants
2xTransit
2xEntertainment
1xAll spending

Value

1st Year Value$604

2nd Year Value$397

Card benefits

Concierge service24/7

Airport lounge access$240

Travel insurance

Travel medical (under 55)Up to $2,000,000 / 25 days

Travel medical (55-64)Up to $2,000,000 / 25 days

Travel medical (65+)Up to $2,000,000 / 3 days

Trip CancellationUp to $1,500

Trip InterruptionUp to $2,500

Delayed BaggageUp to $1,000

Lost BaggageUp to $1,000

Flight DelayUp to $500

Hotel BurglaryUp to $1,000

Travel AccidentUp to $500,000

Purchase protection

Purchase ProtectionIncluded

Extended Warranty+1 years

Auto Rental CollisionUp to $65,000 / 48 days

Compare

Scotiabank Gold American Express^® Card

Scotiabank Scene+

Annual fee: $120
Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$500Total$500Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.: $500
Welcome offerAfter $7,500 in 12 months: Up to 50,000 points; Ends Nov 1, 2026

The Scotiabank Gold American Express Card offers an excellent welcome bonus.

Until November 1, 2026, you can earn up to 50,000 bonus Scene+ points, broken down as follows:

30,000 Scene+ points by charging $2,000 in purchases to the card within the first 3 months
20,000 Scene+ points by making $7,500 in purchases on the card in the first year

This represents a value of up to $500 for travel (including Airbnb).

Also, you earn 5 points per dollar for:

Grocery stores
Restaurants
Entertainment centers

And 3 points per dollar on gas, transit and streaming services purchases.

You can redeem your points on travel purchases (flights, hotels, all-inclusive and even Airbnb). You can also use your points as cash back rewards with Scene+.

Legal

$300 in travel rewards (30,000 bonus Scene+ points) for new Scotiabank Gold American Express Cardholders who make purchases totaling $2,000 in the first 3 months

$200 in travel rewards (20,000 bonus Scene+ points) for making purchases totaling $7,500 in the first 12 months

Maximum potential value after the first year = $957 (rounded to $950)

The actual value of offers, savings realized and rewards earned will vary depending on card usage and eligibility for offers. Conditions apply.

Savings at Shell

Instant 3 cents per Litre Discount on Fuel Purchases (All Grades): Receive an instant 3 cents per litre discount on purchases of fuel (all grades) (“Fuel Purchases (All Grades)”) at participating Shell locations in Canada when you use any eligible Scotiabank debit card or credit card linked to a Shell Go+ Account, up to a maximum of 1,000 litres per month per Scotiabank debit card and per Scotiabank credit card account. This total limit resets at the start of each new month per payment card account. This discount is subject to the Scotiabank Fuel Benefit Terms and Conditions.
Instant 4 cents per Litre Discount on Premium Fuel: Between May 26, 2026 and June 1, 2027 (“Promotional Period”), receive an instant 4 cents per litre discount on purchases of V-Power^® gasoline, or V-Power^® diesel (“Premium Fuel Purchases”) at participating Shell locations in Canada when you use any eligible Scotiabank credit card that earns Scene+ points linked to a Shell Go+ Account, up to a maximum of 1,000 litres per month per credit card account. This total limit resets at the start of each new month per credit card account. This promotional offer, including the Promotional Period, may be changed, extended, or withdrawn at any time without notice. These promotional offer terms are in addition to the Scotiabank Fuel Benefit Terms and Conditions.
Earn up to 5 cents per Litre in Scene+ points Value (Equivalent) on Fuel Purchases: Each time you use your linked Scotiabank credit card that earns Scene+ points on Fuel Purchases (All Grades) at participating Shell locations in Canada, you will earn at least 3 Scene+ points per $1 spent. Plus, as a Scene+ Member you will also automatically earn 1 Scene+ point for each litre in Fuel Purchases (All Grades), and as a Shell Go+ member, automatically earn 1 additional Scene+ point for each litre in Premium Fuel Purchases, made with your linked Scotiabank credit card. This means that for every litre in fuel purchased with your linked credit card, you can earn the equivalent of up to 5 cents of redeemable Scene+ points value based on a redemption value of $10 for every 1,000 Scene+ points redeemed for fuel purchases at participating Shell locations. Actual value may be lower depending on how you choose to redeem your Scene+ points. Earn and redemption limits may apply. See the Scene+ Program Terms and Conditions available at sceneplus.ca/terms-and-conditions for full details including redemption options and additional terms.

Additional 3¢/L at Shell (limited time)

To receive the additional fuel discount, customers must pay with their linked Eligible Card at the time of purchase.

The additional fuel discount is non-transferable, is not redeemable for cash, and cannot be substituted or exchanged.

Participation in the Shell Fuel Benefits Program is subject to the applicable program terms and conditions available at Scotiabank Fuel Benefit Terms and Conditions.

Shell Canada reserves the right to make changes to this offer and to terminate the offer at any time, for any reason and without notice.

All other applicable terms and conditions of the Shell Fuel Benefits Program, Shell Go+ and Scotiabank continue to apply.

Annual fee

Primary card$120

Additional card$29

Annual income required

Individual$12,000

Household$12,000

Conversion fees

Earning rate

6xWith the partner brand
5xGroceries
5xEntertainment
5xRestaurants
3xGas
3xStreaming
3xTransit
1xAll spending

Value

1st Year Value$1,460

2nd Year Value$461

Card benefits

Concierge service24/7

Travel insurance

Travel medical (under 55)Up to $1,000,000 / 25 days

Travel medical (55-64)Up to $1,000,000 / 25 days

Travel medical (65+)Up to $1,000,000 / 3 days

Trip CancellationUp to $1,500

Trip InterruptionUp to $1,500

Delayed BaggageUp to $1,000

Lost BaggageUp to $1,000

Flight DelayUp to $500

Hotel BurglaryUp to $1,000

Travel AccidentUp to $500,000

Purchase protection

Purchase ProtectionIncluded

Extended Warranty+1 years

Mobile DeviceUp to $1,000 / 1 years

Auto Rental Collision (primary)Up to $65,000 / 48 days

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Wise Visa Card

Wise

Annual fee: $0
Welcome offer: No current welcome offer

With the Wise Card, a no-annual-fee card, you can hold and exchange over 40 currencies directly in your Wise account.

With the Wise Card, you can spend freely in over 150 countries and withdraw cash from 2.3 million ATMs. Your ATM withdrawals are free up to CAD 100 per calendar month.

Annual fee

Primary card$0

Conversion fees

How to Open a Wealthsimple Chequing Account

The features of the Wealthsimple chequing account are available in the mobile app and on the Wealthsimple website.

Once your chequing account is open, you will have access to a virtual card to use with a virtual wallet (Apple Pay, Google Pay, Samsung Pay) and for online purchases.
To receive a physical card, you must request one from the app or website. You will receive it by mail within 10 to 14 business days.

Conclusion

In summary, the Wealthsimple chequing account offers a complete and convenient financial solution, with a chequing account, a high-interest savings account, and a prepaid Mastercard.

It is a modern and fee-free option, ideal for all-in-one financial management, whether you travel or are looking to simplify your finances!

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Wealthsimple Prepaid Visa Platinum* Card

WealthsimpleCash Back

Annual fee: $0
Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$25Total$25Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.: $25
Welcome offer: $25 cash back

With the Wealthsimple Prepaid Visa Platinum* Card, you can access your available funds in your Wealthsimple chequing account.

With this welcome offer, you can get $25 cash back as a new Wealthsimple client. To do this, you simply need to open an account and then deposit at least $1 within 30 days.

In addition, there are no foreign transaction fees for any purchase made in a currency other than the Canadian dollar and no annual fees.

Legal

* Trademark of Visa Int., used under license. Terms and conditions apply. For the most up-to-date product details, please visit Wealthsimple.com.

Annual fee

Primary card$0

Value

1st Year Value$295

Wealthsimple Chequing Account Frequently Asked Questions

What is the Wealthsimple Chequing account?

What fees are associated with the Wealthsimple Chequing account?

Will the prepaid Mastercard affect my credit score?

No, prepaid Mastercard cards are Mastercard Debit cards. Card membership won’t “hit” your credit report, and spending won’t be reported to the credit bureaus either.

Does the Wealthsimple Chequing account charge conversion fees for foreign currency transactions?

No, the Wealthsimple Chequing account does not charge the usual 2.5% fee for foreign currency transactions. The amount will be converted into Canadian dollars at the Mastercard rate of the day.

Can I withdraw cash with my prepaid Mastercard?

Yes, you can use your prepaid Mastercard to withdraw cash at ATMs anywhere Mastercard is accepted. These transactions are free of charge on the Wealthsimple side, but the ATMs charge their own fees.

Can I make Interac transfers to other people?

Yes, the Wealthsimple Chequing account offers Interac e-Transfers and instant transfers to other Wealthsimple Chequing accounts. Registration is required.

Can I open a joint account?

Clients can open joint chequing accounts through the Wealthsimple mobile app, with a limit of up to 8 joint accounts per person.

How does the automatic savings option work?

The Roundup feature was discontinued as of April 11, 2025

Is the Wealthsimple Chequing account safe?

Yes, data security is a priority for Wealthsimple. Your personal and financial information is encrypted and protected according to the same security standards as all Canadian banks.

Is the Wealthsimple Chequing account available in all countries?

To open a Wealthsimple Chequing account, you must be a resident of Canada. You can use the Mastercard in most countries, except for the exceptions listed here.

Can the Wealthsimple Chequing account replace a traditional bank?

Terms and conditions apply. For the most up-to-date product details, please visit Wealthsimple.com.