Overview

You'll reach Premium status if you have at least $100,000 in net deposits or assets, whichever is higher. To maintain premium status, you must have $100,000 in net deposits or assets at all times.

If your net deposits and total assets with Wealthsimple fall and stay below the $100,000 threshold, your status may change. Before we downgrade your status, we'll give you a grace period so you can top up your account and continue to take advantage of your existing Premium status benefits.

We'll notify you by email and push notification when you enter the grace period. If you can't maintain your Premium status within the grace period, we'll downgrade you to Core status.

Entering the top-up grace period

If you fall below the $100,000 threshold and want to maintain your Premium status, you must top up your account before your grace period ends.

To view the date that you must top up your account by:

If you're downgraded to the Core status

If you don't top up your account to the $100,000 threshold for the Premium status by the end of your grace period, we'll downgrade you to Core status. As a result, you'll lose access to the Premium status benefits and savings.

Complimentary USD accounts

To continue using your USD accounts, you need to subscribe to our USD subscription plan for $10 CAD per month. We'll prompt you to update your USD accounts payment method or ensure there are enough funds in your "available to trade" balance to cover the payment.

If you prefer not to proceed with USD accounts, you can cancel the subscription.

Private Credit and Private Equity accounts

We won’t make any immediate changes to your holdings across your Private Credit and Private Equity accounts. Provided your financial circumstances haven't changed, you'll be able to maintain your holdings in Wealthsimple's alternative investment funds.

Other fee savings and benefits

Compare all perks and fee savings for the Premium and Core statuses.   

How to regain Premium status

You'll reach the Premium status again when your net deposits or your assets meet the $100,000 threshold, whichever is higher.

Track your progress to reach Premium status

You can view your progress bar by following these steps:

1. Log in to your Wealthsimple mobile app
2. Tap the Profile icon at the top-right of the screen
3. At the top of your profile, tap the progress bar
4. Here, you will see how close you are to reaching Premium status