The Wealthsimple Cash Card is a prepaid Visa card that allows you to spend funds directly from your Wealthsimple Cash account. The Cash Card uses the Visa payments system, so you can use your card anywhere that accepts Visa.
Note: When you insert your card at a terminal, you need to select 'credit'.
Fees for using the Cash Card
There are no foreign exchange transaction fees or declined transaction fees. The only fee you’ll see is a standard ATM withdrawal fee (usually about $3.00) when you make a withdrawal at an ATM.
You can review your cardholder agreements on the Wealthsimple Cash app, by tapping onto the Profile icon at the top-left corner, then Settings, and press on Agreements.
In order to use your Cash Card, you must first fund your account. You will then have a spending balance that will be visible to you at the top centre of your Cash app home page screen.
Below, you can see the different limits associated with your Cash Card —
|Per Transaction||Per day|
|Maximum Spending Limit||$10,000 CAD||$10,000 CAD|
|ATM Withdrawals||$500 CAD||$1,000 CAD|
Frequently asked questions
Why is my virtual card number different from my physical card number?
This is completely normal. Your virtual card number and physical card number are meant to be different.
Will the Wealthsimple Cash Card affect my credit score?
No, Wealthsimple Cash cards are prepaid Visa cards so it will not impact your credit score.
Can I have more than one card for my account?
No, Cash Cards are limited to one per person.