Wealthsimple offers a variety of ways for you to pay your bills, specifically through the following methods:
- Adding a payee and paying your bills through Bill pay
- Pre-authorized debit (PAD)
- Your Wealthsimple Cash card
- Interac e-transfer (most commonly for rent)
Adding a payee and paying your bills through Bill pay
You can add a payee and pay bills directly from your Cash account. This means that you don't have to move funds out of your Wealthsimple account to pay bills such as credit card bills, phone and utility bills, or student loans.
Learn more about adding a payee and paying your bills through Bill pay
Pre-authorized debit (PAD)
A pre-authorized debit allows billers (like hydro, cell phone companies, and internet providers) to automatically withdraw an authorized amount of money from your bank account when a payment is due. This means that you don’t need to remember to pay your bills on your own as it is automatically done for you.
Learn more about pre-authorized debits with Wealthsimple
Your Wealthsimple Cash card
Your Wealthsimple Cash card is recognized online just like a standard VISA or Mastercard debit card. This means you can use it to pay bills like subscriptions like Spotify, Netflix, Crave, mobile, and internet.
Provide your Wealthsimple Cash card details to the biller, and they will automatically charge your card for your bill each month. This means that you don’t need to remember to pay your bills on your own as it is automatically done for you.
Learn more about using your Wealthsimple Cash card
Some billers, most commonly landlords, allow you to pay via e-transfer.
Learn more about sending an e-transfer with Wealthsimple
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