Overview

When you use your Wealthsimple Cash card, you will automatically receive 1% cash back on all eligible purchases. Cash back is paid out to you within 1 business day after each eligible purchase. 

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 have multiple Cash accounts

You can only earn rewards in the individual Cash account linked with your Wealthsimple Cash card. This account has a card icon in the top right corner of the account screen in the mobile app (or Card details on the web).

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: 

1. Sign in to the Wealthsimple app on your mobile device
2. Tap the Home tab at the bottom of your screen
3. Select the first Cash account in your account list
4. Select Spend rewards underneath your account balance
5. Tap Manage rewards
6. Choose the type of reward you'd like to earn
7. Choose the account you wish your rewards to go to (if applicable)
8. Your cash back is now earned in your 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 and rewards
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

Auto-invest rewards with crypto

If you choose to auto-invest your rewards, you are instructing Wealthsimple Investments Inc. ("WSII") to automatically treat each earned reward as an order to buy the selected cryptocurrency at the market price, including Wealthsimple Crypto’s fee, in the amount of the cash reward proceeds. 

Cash back settlement period in crypto accounts

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.

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 Investments Inc. ("WSII") 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 Prepaid Mastercard is issued by KOHO Financial Inc. pursuant to license by Mastercard International. 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 Prepaid Mastercard® Cardholder Agreement between you and KOHO Financial Inc.

Our Cash product is offered by Wealthsimple Investments Inc. (“WSII”), a member of the Canadian Investment Regulatory Organization, and Wealthsimple Payments Inc., a FINTRAC registered money services business. The funds you add to a Cash account (the “Funds”) are ultimately held securely in trust 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 may be spread across multiple different CDIC members in order to extend the CDIC coverage to up to $500,000 in eligible deposits. The advertised interest rate for the Cash Account is derived from interest earned by Wealthsimple on the funds. The Funds are settled with any CDIC member(s) one business day following the date that Funds are reflected in the Account.