Wealthsimple Cash Review

Wealthsimple Cash provides Canadians with high-interest savings accounts as well as a free peer-to-peer payment platform that makes sending money to friends and family more convenient than ever before.

Wealthsimple Cash will be even more adaptable in the future, with features like free bill payments, Apple/Google Pay, no FX fees on foreign transactions, and a tungsten metal card, in addition to its present capabilities.

What is Wealthsimple Cash?

Wealthsimple Cash is a peer-to-peer payment network that allows you to send money in seconds to anyone on your contact list. All you have to do using the app is connect your contacts and send money to them instantaneously. Money can also be sent to you by your contacts.

Benefits of Wealthsimple Cash

The benefits of the account currently include:

1. High-interest rate: At 0.50 percent (non-promotional), it offers one of the finest savings rates in Canada, beating many of the top rates offered by the big banks.
2. There are no monthly fees for your account: When compared to a comparable chequing account with a typical bank, account maintenance costs can add up to a couple of hundred dollars per year. There is no minimum deposit amount with Wealthsimple Cash.