About Wealthsimple Cash / Save
Wealthsimple is a Toronto-based fintech founded in 2014, majority-owned by Power Corporation of Canada, offering investing, trading, crypto, tax filing and chequing/cash accounts. It is not itself a bank or CDIC member: client cash in Wealthsimple chequing/cash accounts is held in trust by Wealthsimple Investments Inc. across multiple undisclosed Schedule I CDIC-member banks, extending CDIC coverage up to $1,000,000. In 2022 it became Canada's first non-bank, non-credit-union approved for a Bank of Canada direct settlement account.
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Access: Open to all Canadians
Eligible provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland & Labrador, Nova Scotia, Northwest Territories, Nunavut, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon
How to join: Sign up online or in the app with a SIN and Canadian residency.
Notes: Tier-based (Core/Premium/Generation); via partner banks
Deposit protection: Canada Deposit Insurance Corporation
$100,000 per insured category per member institution
Current top rates
rates confirmed as of 2026-10-14Rate history builds here as we track this institution's rates over time.
Savings & chequing rates
rates confirmed as of 2026-10-14Filter rates
| Type | Product | Calculated | Paid | Min. balance | Rate |
|---|---|---|---|---|---|
| Savings | |||||
| Savings | Savings | Daily | Monthly | $0 | 2.50% |
| USD | USD SavingsUS$ | Daily | Monthly | $0 | 2.50% |
| USD | USD SavingsUS$ | Daily | Monthly | $100,001 | 3.00% |
| USD | USD SavingsUS$ | Daily | Monthly | $500,000 | 3.50% |
| Chequing | |||||
| Chequing | Chequing | Daily | Monthly | $0 | 1.75% |
| Chequing | Chequing | Daily | Monthly | $100,001 | 2.25% |
| Chequing | Chequing | Daily | Monthly | $500,000 | 2.25% |
No rates match these filters.
Mortgage rates
rates confirmed as of 2026-10-14Filter rates
| Term | Type | Open / closed | Insured | Posted rate |
|---|---|---|---|---|
| 5-year | Fixed | Closed | No | 4.49% |
| 5-year | Variable | Closed | No | 4.49% |
No mortgage rates match these filters.
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