Alex K.Toronto, ON · Mar 2026
★★★★★
Cash back as VOO (S&P 500) every month. Auto-builds wealth from spending. Combined with 0% FX for travel, this is the most innovative Canadian card.
Overview
The Wealthsimple Cash Card is the prepaid Mastercard built on top of Wealthsimple Cash banking. Unlike traditional cash-back cards, your 1% rewards convert to fractional shares of any stock you choose (or Bitcoin, or another asset) via the Wealthsimple Invest platform.
You earn 1% cash back on all purchases (as fractional stock), 0% FX markup on international transactions, and your unspent balance earns 3.75% standing interest in your linked Wealthsimple Cash account. The Wealthsimple app is widely regarded as the best mobile banking experience in Canada.
The "cash back as stocks" mechanism is genuinely innovative: spending $1,000/month earns $10 in fractional stock contributions automatically — effectively automating tiny stock investments via everyday purchases. Over years, this compounds meaningfully.
Welcome bonus
★ NEW CARDHOLDER OFFER
Variable promotional offers
Wealthsimple runs occasional sign-up bonuses. Check current offers at wealthsimple.com.
Variable
Varies
≈ $50-100
Rewards & earn rates
Here's exactly what you earn per dollar across every category — and where this card pulls ahead of the field.
1%x
Cash back as fractional stocksAuto-deposited to Wealthsimple Invest as your chosen stock
3.75%x
Standing rate on Cash balanceUnspent balance earns interest in linked account
0%x
FX markupNo foreign currency conversion fee
Benefits & perks
Beyond the rewards, here are the perks worth knowing about.
📈1% cash back as stocks
Innovative — your rewards become fractional shares of your favorite stock automatically.
💱0% FX markup
No foreign currency conversion fee on international purchases.
💰Linked to 3.75% savings
Wealthsimple Cash account pays 3.75% standing interest on unspent funds.
🎨Best fintech mobile app
Wealthsimple app is widely considered Canada's best banking experience.
Fees & rates
The numbers that show up on your statement.
ANNUAL FEE$0Truly no-fee
CARD TYPEPrepaid MastercardNot credit · load from Cash account
FX MARKUP0%Industry-leading
MIN INCOMENo requirementOpen to all Wealthsimple users
Pros and cons
✓ PROS
- Innovative cash back as fractional stocks is unique in Canada
- 0% FX markup matches premium cards
- 3.75% standing rate on linked Cash balance
- Best fintech mobile app in Canada
- $0 annual fee
- CDIC backing via Wealthsimple's partner bank
✗ CONS
- Prepaid — no credit building
- EQ Bank Card has higher interest rate (2.5% on card balance) and slightly different model
- Cash back delivery as stocks means market exposure
- Newer ecosystem than EQ Bank
Who it's for
★ APPLY IF
- Wealthsimple Invest existing users
- International travelers wanting 0% FX without fee
- Fintech-loving Canadians wanting modern UX
- Long-term investors who appreciate auto fractional stock contributions
✗ SKIP IF
- Credit-building seekers (use KOHO Credit Building)
- Conservative savers wanting cash back not stocks
- Anyone who doesn't want stock market exposure on rewards
How it compares
We pitted this card against its closest rivals.
How to apply
The eligibility checklist before you hit the application button.
MIN CREDIT SCORENot required (prepaid)
MIN INCOMENo requirement
OTHER ELIGIBILITYWealthsimple Cash account holder
DECISION TIME3-5 business days
Editor's verdict
8.5/10
★★★★★
FINAL VERDICT
Best fintech card for Wealthsimple ecosystem users.
The Wealthsimple Cash Card delivers 0% FX + 1% cash back as fractional stocks + best mobile app at $0/year. The "cash back as stocks" mechanism is genuinely innovative for long-term investors. EQ Bank Card has 2.5% interest on card balance which Wealthsimple lacks — but Wealthsimple wins on mobile UX. Most fintech-savvy Canadians should hold both.
Apply for Wealthsimple Cash Card ↗User reviews
What current and former cardholders are saying. Aggregated from Trustpilot, Reddit (/r/PersonalFinanceCanada), and our own community comments.
4.7 / 5 ★
2,876 reviews
Priya M.Vancouver, BC · Feb 2026
★★★★★
Best mobile app of any Canadian bank/card. Customer service via chat actually responsive. Use as primary spending + EQ Bank for savings.
Mark D.Calgary, AB · Jan 2026
★★★★★
Innovative. Wish 1% baseline was higher. Otherwise great fintech card.