Wealthsimple has launched a new $100 cash bonus to promote Canada’s highest interest chequing account, that’s free.
The Toronto-based company’s Cash accounts offer starting interest at 3.5% for Core clients, 4% for Premium and 4.5% for Generation clients. You get both a digital and physical debit MasterCard to use, which nets you 1% back every time you make a purchase with your card (supports Apple Pay, etc).
Starting Today, July 29, 2024, eligible Wealthsimple Cash clients can earn a $100 cash bonus by direct depositing $2,000 or more into a Cash account within a 30-day period for 3 consecutive months.
The first qualifying direct deposit must be settled by October 1, 2024, to qualify.
Also, the Wealthsimple Cash card has perks such as no additional foreign transaction or ATM fees when travelling.
Existing Cash clients with previous direct deposits are not eligible. However, Core and Premium clients may receive a 0.5% interest rate boost.
To qualify for the $100 bonus:
No registration is needed. The $100 bonus will be paid within 10 business days after the promotion ends into the primary individual Cash account.
Direct deposits into joint accounts are eligible but will count towards the original account opener’s eligibility. Qualifying deposits can include paycheques, pensions, insurance reimbursements, or government benefits.
Click here to sign up for Wealthsimple Cash and get a $25 free bonus on top.
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I was with Wealthsimple because their Mastercard Debit seemed great for travel – you saved your money, got paid interest, got 1% back, and no FX fees. But my card was compromised on what was Friday night in Canada. Security at Wealthsimple is closed on weekends. It's not charges but your money that is gone. And no way to report it for more than two days. I did recover everything – but weeks later. Not much good for my trip.
You can setup 2 factor authentication with a mobile app which is the most secure option they have and lock your card and only unlock it when you want to use it. Not their fault if you can’t take security precautions, you probably unknowingly and unwittingly gave your details in a phishing scam.
You can setup 2 factor authentication with a mobile app which is the most secure option they have and lock your card and only unlock it when you want to use it. Not their fault if you can’t take security precautions, you probably unknowingly and unwittingly gave your details in a phishing scam.