Overview

You automatically receive a 1% cash back reward on all eligible purchases with your Wealthsimple Cash card. You can choose to receive cash back in one of the following account types:

• Cash
• Self-directed investing
• Managed investing
• Crypto

Until you change which account receives cash back payouts, you'll receive them in your spendable Cash account.

Cash back payout schedule

You'll receive your payout within 7 business days of the 1st of the following month. Keep in mind that you'll only receive cash back for settled transactions.

Change which account receives cash back payouts

Follow these steps to change which account receives cash back payouts:

1. Sign in to the Wealthsimple app on your mobile device
2. Tap your spendable Cash account
3. Tap Spend rewards underneath your account balance
4. Tap Manage rewards
5. Choose the destination account for your cash back reward
6. Tap Next
7. You'll receive cash back in the chosen account

View your earned cash back

You can view your earned cash back directly from your mobile app.

1. Log in to your Wealthsimple mobile app
2. Tap the Activity tab at the bottom of the screen
3. Scroll down to view your spending activity
4. Tap on a purchase to see its details
5. At the bottom of the transaction, you'll see the note Spend reward with the amount of cash back earned from the purchase

Frequently asked questions

Terms and conditions

1% cash back

The Wealthsimple Cash 1% cash back promotional offer (the "Offer") is valid for new and existing users of the Wealthsimple Cash Mastercard Prepaid Card (Cash card) ("Cash card"). The 1% earn rate, which may be subject to change, applies to all transactions, less refunds and excluding cash-like transactions, any applicable fees and adjustments ("Qualified Spend").

Cash back credits are earned on net purchases only and pay out will occur within 7 business days of the 1st of the following month after the Qualified Spend transaction.

You can also choose to earn stock and Crypto rewards back.

Wealthsimple Payments Inc. ("Wealthsimple") reserves the right to amend, withdraw or restrict the Offer at any time without notice. Wealthsimple is the sole arbiter of these rules, the calculation of Qualifying Spend, and any other issue arising in connection with the Offer. If Wealthsimple suspects fraudulent or abusive behaviour, gaming of the system or a violation of these terms, Wealthsimple reserves the right to remove all promotions from the applicable Wealthsimple Cash account and take any other action it deems appropriate including, but not limited to, closing the applicable Wealthsimple Cash account. An invitation to participate in this Offer does not provide assurance that the referred customer will be accepted as a customer of Wealthsimple. This offer is only valid for individuals in Canada that otherwise meet Wealthsimple's eligibility requirements. Wealthsimple's standard terms (https://www.wealthsimple.com/en-ca/legal/terms) relating to your use of Wealthsimple and any agreements that apply to the Wealthsimple Cash account each apply and are not affected in any way by this Offer.

Wealthsimple Cash

Our Cash product is offered by Wealthsimple Investments Inc. ("WSII"), a member of the the Canadian Investment Regulatory Organization ("CIRO"), and Wealthsimple Payments Inc., a FINTRAC registered money services business. The funds added to Cash account(s) (the "Funds") are ultimately held securely in trust in the name of the primary account holder with a single or multiple members of the Canada Deposit Insurance Corporation ("CDIC"). CDIC protects eligible deposits held at CDIC member institutions in case of a member institution's failure. Wealthsimple Payments Inc. and WSII are not CDIC member institutions. Under the trust framework, CDIC insures eligible cash balances up to $100,000 per beneficiary, per member institution, provided certain disclosure rules are met. Coverage is free and automatic. Learn more about how CDIC protection works. Funds must be spread across at least 10 CDIC member institutions in order for up to $1,000,000 in deposits to benefit from applicable CDIC coverage. The advertised interest rate for the Cash Account is derived from interest earned by Wealthsimple on the funds. The rates are annualized rates, calculated daily, and paid monthly. Subject to change. For more information see here. The Funds are settled with any CDIC member(s) one business day following the date that Funds are reflected in the Account.

The Wealthsimple Mastercard® Prepaid card is issued by KOHO Financial Inc. pursuant to license by Mastercard International Incorporated. All terms applicable to the Cash Card and all applicable fees and transaction limits with respect to the Cash Card and the services may be found in the Wealthsimple Cash Mastercard® Prepaid Card Cardholder Agreement between you and KOHO Financial Inc. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.