Wealthsimple Cash has great domestic fees and great security, though it’s a product that’s still very much in development. As such, Wealthsimple rolls out new features regularly, making the experience ever-changing for Wealthsimple Cash users.
Wealthsimple Cash has a referral program for new users: you will receive a $25 sign-up bonus and your referral link by using my referral link. The bonus will be credited to your Cash account within 24 hours, and you can share your referral link to earn an additional $25 for each friend who signs up.
Alternatively, if you’re looking for the best way to invest in crypto in Canada, I recommend Kraken, my #1-ranked cryptocurrency exchange. Kraken has over 10 million satisfied users, offers the lowest trading fees in Canada by a mile, and is offering a $10 signup bonus (no referral code required) from now until July 3, 2025.
What Is Wealthsimple Cash?
Wealthsimple Cash is a mobile banking app launched by Wealthsimple, a Canadian financial technology company and one of the most popular robo advisors in the country. It is a cash management platform that allows users to deposit and hold money in their accounts, pay bills, and send money to other users using a peer-to-peer money transfer platform for free.
Wealthsimple Cash is not a trading or investment platform like Capital or Robinhood. Therefore, you can’t use this platform to trade stocks, options, mutual funds, or invest in real estate or other assets using any trading strategy.
With Wealthsimple Cash, users can receive their paycheques, set up direct deposit, and pay bills using their account balance. Users can also access their account through the Wealthsimple mobile app, which is available on both iOS and Android platforms.
One of the main advantages of Wealthsimple Cash is that it offers a high-interest savings account, which allows users to earn interest on the money they hold in their account. In addition, there are no fees for opening or maintaining an account, and users can withdraw money from any ATM that accepts Interac.
Overall, Wealthsimple Cash is a simple and user-friendly way to manage your money and earn interest on your savings and it offers a decent referral program.
Related: apart from Wealthsimple Cash, Wealthsimple also offers referral programs for Wealthsimple Trade, Crypto and Invest.
How To Use Your Wealthsimple Cash Referral Code
Wealthsimple Cash has a referral program for new users. When you sign up using our referral link, you will receive a $25 bonus when you open your account deposited immediately to your Wealthsimple Cash account. You will also receive your referral link, which you can use to refer friends and earn an additional $25.
If one of your friends signed up for Wealthsimple Cash already but forgot to use your referral link, they have up to 30 days after creating their account to add your link manually.
To use the promo code:
- From your phone, visit Wealthsimple Cash’s website and download the app from either the App Store or the Play Store.
- Fill in some of your basic information.
- Fund your account.
Wealthsimple Cash Features
Some of the best Wealthsimple Cash banking features are:
- No monthly fees.
- No inactivity fees.
- This online bank also benefits from not charging for ATM withdrawals nor the delivery or replacement of its card, which are nice features to have.
- The online bank also supports free Interac e-Transfers whenever receiving or sending money.
- Instant spending notifications.
- The app is compatible with Apple Pay and Google Pay.
Wealthsimple Cash Fees
Wealthsimple Cash doesn’t charge any monthly fees or inactivity fees for use, and sending money is free, too.
How To Sign Up With Wealthsimple Cash
#1 Visit Wealthsimple Cash‘s website and download the app from either the App Store or the Play Store.
#2 Fill in your basic information: name, email, phone number, and address.
#3 Confirm your citizenship. Keep in mind that Wealthsimple is only available for Canadian citizens living in Canada.
#4 Fund your account to start sending and receiving payments.
Wealthsimple Cash’s Referral Program
After creating your Wealthsimple Cash account, you will receive your referral code. You can find it by clicking the gift box icon at the top. Whenever one of your referrals signs up, you will both receive a $25 bonus deposited directly to your Cash accounts.
- You can share your code via text, email, or your social media audience.
- There’s no limit to how many people you can invite.
- If your referee forgot to use your referral code, they have up to 30 days after they create their account to enter your referral link manually and still receive the bonus.
Is Wealthsimple Cash Safe & Legit?
All funds held in any Wealthsimple Cash account are regulated, protected and insured for up to $100,000 by the CDIC.
Wealthsimple cash also lets users configure its sign-in process with biometric login authentication, which is nice to have, too.
In Summary
Wealthsimple Cash has great domestic fees and great security, though it’s a product that’s still very much in development. As such, Wealthsimple rolls out new features regularly, making the experience ever-changing for Wealthsimple Cash users.
Wealthsimple Cash has a referral program for new users: you will receive a $25 sign-up bonus and your referral link by using my referral link. The bonus will be credited to your Cash account within 24 hours, and you can share your referral link to earn an additional $25 for each friend who signs up.
