Wealthsimple Just Got Better: Earn Interest on Your Cash (Finally!)
If you’ve ever looked at your bank balance and thought, “Why is my money just sitting there doing nothing?” — you’re not alone.
For years, traditional banks in Canada have quietly paid close to 0% interest on checking accounts, while using your money to generate profits behind the scenes.
But now, things are changing, and Wealthsimple is leading that change again.
Already known for making investing ridiculously simple, Wealthsimple has taken a big step forward by introducing a checking-style account that actually pays you interest.
Let’s break down why this matters—and whether you should care.
Why Wealthsimple Was Already Popular
Before this new feature, Wealthsimple had already built a strong reputation in Canada for one simple reason:
👉 It makes investing easy.
No complicated dashboards.
No intimidating jargon.
No need to be a finance expert.
Whether you’re buying stocks, ETFs, or just starting with small amounts, Wealthsimple removes the friction that stops most people from investing.
Compared to traditional brokerages, it feels more like using a modern app than dealing with a financial institution. And now—they’ve gone one step further.
The Big Upgrade: A Checking Account That Pays You
Here’s the problem with most bank accounts:
- You park your money there
- It earns almost nothing
- Inflation slowly eats away its value
Wealthsimple is changing that.
With its new cash account (functioning similar to a checking account), you can now earn interest on the money you’re not investing.
Here’s what you get:
- Regular accounts: ~1.5% annual interest
- Premium accounts: ~1.75% annual interest
Now, you might think:
“That doesn’t sound huge.”
But compare it to traditional checking accounts in Canada, which often pay 0%.
Suddenly, this becomes a no-brainer.
Simple Example
Let’s say you keep $10,000 in your account.
- Traditional bank: ~$0 interest
- Wealthsimple (1.5%): ~$150 per year
That’s money you would’ve otherwise left on the table.
No extra effort. No risk. Just smarter placement.
Opening an Account Is Surprisingly Easy
One thing Wealthsimple gets right—again—is simplicity.
Opening an account takes just a few minutes, and everything is guided within the app.
The process looks like this:
- Download the app
- Sign up and verify your identity
- Choose your account type
- Transfer funds
That’s it.
No paperwork. No branch visits. No confusion.
How It Fits Into a Smarter Money Strategy
Here’s how you can actually use this:
- Emergency fund → Keep it here
- Short-term savings → Park it here
- Idle investment cash → Don’t leave it in a bank
Then, when you’re ready:
- Move money into ETFs or stocks inside Wealthsimple
This creates a seamless flow:
Earn → Hold → Invest → Grow
Ready to Try It?
If you’re curious to explore it yourself, you can get started here:
It takes just a few minutes—and it might be one of the easiest financial upgrades you make this year.
CuriousClan