Bank accounts in CanadaWEWealthsimple Chequing
Best for: earning interest on everyday money with no account fees
- Monthly fee
- $0
- Fees
- No monthly account fees and no minimum balance fees. Wealthsimple charges no Interac e-Transfer, ATM or foreign transaction fees.
- Currency
- CAD
Pros
- No monthly account fees and no minimum balance
- Pays interest from 1.25% to 2.25% a year, depending on how much you hold with Wealthsimple
- No Interac e-Transfer, ATM or foreign transaction fees from Wealthsimple
- Your money is placed with CDIC member institutions, covered up to $1 million in total
Cons
- Wealthsimple is not a bank and is not a CDIC member itself
- The company that runs an ATM may charge its own fee
- The card network's own exchange rate still applies abroad
How to apply
Open the account from Wealthsimple's website or app.
Verified 13 Oct 2026 · source
We compare. You decide.
