Wealthsimple Cash Card Review

The Wealthsimple Cash Card is a game-changer for anyone looking to manage their finances on the go. It's a fee-free, no-fee credit card that earns you 1% cash back on all purchases.

With the Wealthsimple Cash Card, you can earn cash back on purchases without incurring any interest charges. This means you can enjoy the benefits of a cash back credit card without the risk of racking up debt.

The card is also linked to your Wealthsimple Cash account, making it easy to transfer your cash back rewards into your account.

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The Wealthsimple Cash Card is a great option for those looking for a no-fee, prepaid card with some nice benefits. Most prepaid credit cards don't offer any benefits, but this card does.

One of the main perks of this card is that it doesn't charge Foreign Transaction Fees on purchases made in currencies outside of Canadian dollars. This is a big bonus, especially for those who travel or shop online.

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You'll also save money on ATM fees, as Wealthsimple doesn't charge any fees on their side. However, you may still be charged fees by the bank or operator of the ATM.

The card also comes with a high interest rate on the amount of money you have in your free Wealthsimple savings account, which is used to fund your card. The interest rate is currently set at 4% (as of May 5, 24).

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The Wealthsimple Cash Card is a great way to earn rewards on your everyday purchases. You'll get 1% cash back on all eligible purchases made with the card.

This cash back reward is automatically deposited into your account within 7-9 days of making a purchase. No need to do anything extra, it's a seamless process.

There are some limitations to note, however - cash-like transactions such as refunds, bill payments, or adjustments are not eligible for cash back rewards. Make sure to keep that in mind when using your card.

You can also earn rewards on funds deposited to your card, with a 4% interest rate. This is a great way to grow your money over time.

Here's a quick rundown of the earning rates:

To get started, simply use your card for everyday purchases and let the rewards roll in.

To get a Wealthsimple Cash Card, you need to meet the eligibility requirements of a Wealthsimple account.

You must reside in Canada to be eligible for the card.

You'll also need to be a Canadian citizen or have a Canadian Visa.

The age of majority in your province or territory is the minimum age you need to be to apply.

You'll need a Social Insurance Number (SIN) to apply for the card.

Since the Wealthsimple Cash Card is a prepaid card, there's no credit score or income requirement to be approved.

For more insights, see: How to Apply for Cash Card

The Wealthsimple Cash Card is a solid option for everyday spending, but how does it compare to other cashless cards on the market? It offers 1% cashback on all purchases, which is a decent rate compared to some other cards.

The card's mobile app is user-friendly and allows for easy tracking of spending and rewards. You can even set budgeting reminders to stay on top of your finances.

One notable difference is that the Wealthsimple Cash Card doesn't charge foreign transaction fees, making it a great choice for international travel. This can save you up to 2.5% on transactions abroad.

The Wealthsimple Cash Card is a solid option for certain situations. It's ideal for people who want to avoid foreign transaction fees on purchases or ATM withdrawals.

You can also use it as a prepaid card to manage your expenses. This card is one of the best prepaid credit cards in Canada, making it a great choice for those who prefer to load funds onto a card.

If you already use Wealthsimple for investing, you can simply move some funds over to your cash account to start using this card. It's a convenient option for existing users.

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However, unless you only want to use prepaid cards, you're unlikely to use this card for day-to-day purchases. But using it strictly as a travel card can make a lot of sense, as it'll help you save money on foreign transaction fees.

To give you an incentive, using referral code 9LIWIW can get you up to $3,000 when you sign up.

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The Wealthsimple Cash Card is a free Prepaid Visa that rewards you with 1% cash back on all your purchases.

It's a prepaid card, which means you're using your own money, so it won't affect your credit score.

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One of the standout features of this rewards card is that you can choose your rewards in the form of crypto, stocks, or cash. This gives you flexibility and control over how you want to earn rewards.

With no annual fees and no foreign transaction fees, you can use this card without worrying about extra costs. Plus, you can make free ATM withdrawals, which is a big plus for travelers.

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Cash balances are protected up to $100,000, thanks to CDIC insurance. This gives you peace of mind and protection for your money.

The rewards card also gives you access to the full Wealthsimple ecosystem, which includes crypto, stocks, robo-advisors, P2P payments, and more. This means you can manage all your finances in one place.

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The Wealthsimple Card is a prepaid Visa card that offers 1% cash back on all purchases. This means you'll earn rewards on every transaction, whether it's a daily coffee or a big purchase.

You won't need to worry about affecting your credit score because the card is prepaid and you're using your own money. This makes it a great option for people who want to earn rewards without the risk of damaging their credit.

There are no credit checks or minimum income requirements to apply, making it accessible to a wide range of people. This is a big plus for those who might not qualify for traditional credit cards.

The Wealthsimple Cash Card is a great option for those looking for a hassle-free spending experience. You can earn 1% back in stocks or crypto, which is a nice bonus.

One of the best things about this card is that it has no annual fees or foreign transaction fees, making it a great choice for travel or online shopping. No foreign transaction fees means you won't get hit with extra charges when you make purchases abroad.

The Wealthsimple Cash Card is also a safe and reliable choice, backed by a company with a strong track record. Founded in 2014 and CDIC insured, you can trust that your money is in good hands.

Here are some key benefits of the Wealthsimple Cash Card at a glance: