When you use your Wealthsimple Cash card, you will automatically receive 1% cash back on all eligible purchases.
You can also choose to earn stock or crypto back instead. With crypto back, you can opt to have cash back rewards auto-invested in the cryptocurrency of your choice.
If you choose to auto-invest your rewards, you are instructing Wealthsimple Digital Assets Inc. (“WDA”) to automatically treat each earned reward as an order to buy the selected cryptocurrency at the market price, including Wealthsimple Crypto’s 1.5-2% fee, in the amount of the cash reward proceeds.
Earn stock or crypto back
Instead of earning cash back to your Cash account, you can choose one of the following options:
- Add the rewards to the cash balance of your stock trading account
- Add the rewards to the cash balance of your crypto trading account
- Add the rewards to the cash balance of your managed account
- Auto-purchase the cryptocurrency of your choice in your crypto trading account
Choose your reward destination
To make your rewards go to your managed or stock trading account, follow these steps:
- Sign in to the Wealthsimple app on your mobile device
- Tap the Card icon at the bottom of the screen
- Select Spend rewards underneath the image of the Wealthsimple Cash card
- Tap Manage rewards
- Choose the account you wish your rewards to go to (if applicable)
- Your cashback will now be added to your account
Some things to keep in mind
Cash back rewards can take up to 7 business days to settle in a crypto trading account, however they will normally appear after 1 business day.
During this time, you’ll see the status as Pending within your transaction details. Once the funds have settled, the crypto order will begin to process. At this point, the status will show Settled. Once your rewards have settled, it will normally take 2 business days for your order to complete.
Your app will send a push notification once the buy has occurred, and the status of the transaction will update to say Complete.
Learn more about the Wealthsimple Cash card here.
View your earned cash back
You can view your earned cash back directly from your mobile app.
- Log in to your Wealthsimple mobile app
- Tap the Card icon at the bottom of the screen
- Scroll down to view your spending activity and rewards
- Under a transaction that earned cash back, you will see the note Cash back earned
- Tap on the transaction and you will see its details, including the amount you received in cash back
Terms and conditions
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 after the Qualified Spend transaction.
You can also choose to earn stock and Crypto rewards back.
Wealthsimple Crypto clients may be eligible to select auto-buy to manage their rewards. With auto-buy You are instructing Wealthsimple Digital Assets Inc. (“WDA”) to automatically treat each earned reward as an order to buy the selected cryptocurrency at the market price, including Wealthsimple Crypto’s 1.5% fee, in the amount of the cash reward proceeds.
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.
The Wealthsimple Mastercard Prepaid Card (Cash card) is issued by People's Trust Company pursuant to license by Mastercard Int. 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 Peoples Trust Company. All trademarks belong to their respective owners and do not necessarily denote a direct relationship or endorsement of this Offer or Wealthsimple.
Our Cash product is offered by Wealthsimple Payments Inc., a FINTRAC registered money services business. The funds you add to the Cash Account Funds are held securely in our omnibus custodial account with Canadian Western Trust Company, a federal trust company regulated by the Office of the Superintendent of Financial Institutions under the Trust and Loan Companies Act. All cash balances from your Wealthsimple Cash account are held in trust at a Canada Deposit Insurance Corporation (CDIC) (https://www.cdic.ca/about-us/) member institution. CDIC insures eligible cash balances payable in Canada up to $100,000 per client per member institution within each insured category. Protection eligibility is free and automatic with your Wealthsimple Cash account. Learn more (https://www.cdic.ca/your-coverage/how-deposit-insurance-works/deposits-held-in-trust/) about how CDIC protection works.
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