{"id":44376,"date":"2026-04-07T07:37:00","date_gmt":"2026-04-07T11:37:00","guid":{"rendered":"https:\/\/hardbacon.ca\/non-classifiee\/wealthsimple-cash-review-2021-go-or-no-go\/"},"modified":"2026-04-07T23:10:48","modified_gmt":"2026-04-08T03:10:48","slug":"wealthsimple-cash-review-2021-go-or-no-go","status":"publish","type":"post","link":"https:\/\/hardbacon.ca\/en\/credit-cards\/wealthsimple-cash-review-2021-go-or-no-go\/","title":{"rendered":"Wealthsimple Prepaid Mastercard: My Experience with Wealthsimple Chequing account"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Wealthsimple is a Canadian fintech known for its investment app. Today, it offers many other products. I&#8217;ve had a Wealthsimple account for several years and applied for the Wealthsimple prepaid Mastercard in August 2025. How does it compare with the <a href=\"https:\/\/hardbacon.ca\/en\/credit-cards\/the-10-best-prepaid-credit-cards-in-canada\/\">best prepaid cards<\/a> in Canada? Pretty well, I&#8217;d say. I&#8217;ve been holding funds in this account for several months and I&#8217;m satisfied with my experience. Let me tell you why.<\/p>\n\n\n    <div class=\"review-block\">\r\n                    <div class=\"review-block__left\">\r\n                <div class=\"review-block__head\">\r\n                    <div class=\"review-block__head-total\">4.5<\/div>\r\n                    <div class=\"review-block__head-rating\">\r\n                        <div class=\"review-block__head-stars\">\r\n                            <div class=\"review__stars-empty\">\r\n                                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"25\" height=\"25\" viewBox=\"0 0 25 25\" fill=\"none\">\r\n                                    <path d=\"M12.1623 1.95823C12.3294 1.44029 13.0622 1.44029 13.2292 1.95823L15.2942 8.36132C15.369 8.59328 15.5852 8.75031 15.8289 8.74977L22.5567 8.73507C23.1009 8.73388 23.3274 9.4308 22.8864 9.74972L17.4348 13.6923C17.2373 13.8352 17.1548 14.0892 17.2306 14.3209L19.3236 20.7149C19.4929 21.2321 18.9001 21.6628 18.4605 21.342L13.0262 17.3755C12.8293 17.2319 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        <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"25\" height=\"25\" viewBox=\"0 0 25 25\" fill=\"none\">\r\n                                    <path d=\"M12.1623 1.95823C12.3294 1.44029 13.0622 1.44029 13.2292 1.95823L15.2942 8.36132C15.369 8.59328 15.5852 8.75031 15.8289 8.74977L22.5567 8.73507C23.1009 8.73388 23.3274 9.4308 22.8864 9.74972L17.4348 13.6923C17.2373 13.8352 17.1548 14.0892 17.2306 14.3209L19.3236 20.7149C19.4929 21.2321 18.9001 21.6628 18.4605 21.342L13.0262 17.3755C12.8293 17.2319 12.5622 17.2319 12.3653 17.3755L6.93105 21.342C6.49147 21.6628 5.89863 21.2321 6.06793 20.7149L8.16093 14.3209C8.23675 14.0892 8.1542 13.8352 7.95671 13.6923L2.50514 9.74972C2.06417 9.4308 2.29061 8.73388 2.83482 8.73507L9.56265 8.74977C9.80637 8.75031 10.0225 8.59328 10.0973 8.36132L12.1623 1.95823Z\" fill=\"#FDCC0D\"\/>\r\n                                <\/svg>\r\n                                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"25\" height=\"25\" viewBox=\"0 0 25 25\" fill=\"none\">\r\n                                    <path d=\"M12.1623 1.95823C12.3294 1.44029 13.0622 1.44029 13.2292 1.95823L15.2942 8.36132C15.369 8.59328 15.5852 8.75031 15.8289 8.74977L22.5567 8.73507C23.1009 8.73388 23.3274 9.4308 22.8864 9.74972L17.4348 13.6923C17.2373 13.8352 17.1548 14.0892 17.2306 14.3209L19.3236 20.7149C19.4929 21.2321 18.9001 21.6628 18.4605 21.342L13.0262 17.3755C12.8293 17.2319 12.5622 17.2319 12.3653 17.3755L6.93105 21.342C6.49147 21.6628 5.89863 21.2321 6.06793 20.7149L8.16093 14.3209C8.23675 14.0892 8.1542 13.8352 7.95671 13.6923L2.50514 9.74972C2.06417 9.4308 2.29061 8.73388 2.83482 8.73507L9.56265 8.74977C9.80637 8.75031 10.0225 8.59328 10.0973 8.36132L12.1623 1.95823Z\" fill=\"#FDCC0D\"\/>\r\n                                <\/svg>\r\n                                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"25\" height=\"25\" viewBox=\"0 0 25 25\" fill=\"none\">\r\n                                    <path d=\"M12.1623 1.95823C12.3294 1.44029 13.0622 1.44029 13.2292 1.95823L15.2942 8.36132C15.369 8.59328 15.5852 8.75031 15.8289 8.74977L22.5567 8.73507C23.1009 8.73388 23.3274 9.4308 22.8864 9.74972L17.4348 13.6923C17.2373 13.8352 17.1548 14.0892 17.2306 14.3209L19.3236 20.7149C19.4929 21.2321 18.9001 21.6628 18.4605 21.342L13.0262 17.3755C12.8293 17.2319 12.5622 17.2319 12.3653 17.3755L6.93105 21.342C6.49147 21.6628 5.89863 21.2321 6.06793 20.7149L8.16093 14.3209C8.23675 14.0892 8.1542 13.8352 7.95671 13.6923L2.50514 9.74972C2.06417 9.4308 2.29061 8.73388 2.83482 8.73507L9.56265 8.74977C9.80637 8.75031 10.0225 8.59328 10.0973 8.36132L12.1623 1.95823Z\" fill=\"#FDCC0D\"\/>\r\n                                <\/svg>\r\n                            <\/div>\r\n                        <\/div>\r\n                        <span class=\"review-block__head-score\">Hardbacon Score<\/span>\r\n                    <\/div>\r\n                <\/div>\r\n                <ul 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9.20396 13.3506L4.95413 16.4525C4.61037 16.7034 4.14675 16.3665 4.27915 15.9621L5.91596 10.9617C5.97525 10.7806 5.91069 10.5819 5.75625 10.4702L1.4929 7.38689C1.14804 7.13749 1.32513 6.59246 1.75072 6.59339L7.01216 6.60489C7.20275 6.60531 7.37178 6.48251 7.43028 6.30111L9.04521 1.29364Z\" fill=\"#CACACA\"\/>\r\n                                        <\/g>\r\n                                        <defs>\r\n                                            <clipPath id=\"clip0_1101_81\">\r\n                                                <rect width=\"18.975\" height=\"18.975\" fill=\"white\" transform=\"translate(0.0249023 0.31366)\"\/>\r\n                                            <\/clipPath>\r\n                                        <\/defs>\r\n                                    <\/svg>\r\n                                    <svg width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\r\n                                        <g 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xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\r\n                                        <path d=\"M9.81401 1.29351C9.94464 0.888467 10.5177 0.888467 10.6483 1.29351L12.2633 6.30099C12.3218 6.48239 12.4908 6.60519 12.6814 6.60477L17.9428 6.59327C18.3684 6.59234 18.5455 7.13736 18.2007 7.38677L13.9373 10.4701C13.7829 10.5817 13.7183 10.7804 13.7776 10.9616L15.4144 15.962C15.5468 16.3664 15.0832 16.7033 14.7394 16.4524L10.4896 13.3505C10.3356 13.2381 10.1267 13.2381 9.97276 13.3505L5.72293 16.4524C5.37917 16.7033 4.91555 16.3664 5.04795 15.962L6.68476 10.9616C6.74405 10.7804 6.67949 10.5817 6.52505 10.4701L2.2617 7.38677C1.91684 7.13736 2.09393 6.59234 2.51952 6.59327L7.78095 6.60477C7.97155 6.60519 8.14057 6.48239 8.19908 6.30099L9.81401 1.29351Z\" fill=\"#FDCC0D\"\/>\r\n                                    <\/svg>\r\n                                    <svg width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\r\n                            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7.38677L13.9373 10.4701C13.7829 10.5817 13.7183 10.7804 13.7776 10.9616L15.4144 15.962C15.5468 16.3664 15.0832 16.7033 14.7394 16.4524L10.4896 13.3505C10.3356 13.2381 10.1267 13.2381 9.97276 13.3505L5.72293 16.4524C5.37917 16.7033 4.91555 16.3664 5.04795 15.962L6.68476 10.9616C6.74405 10.7804 6.67949 10.5817 6.52505 10.4701L2.2617 7.38677C1.91684 7.13736 2.09393 6.59234 2.51952 6.59327L7.78095 6.60477C7.97155 6.60519 8.14057 6.48239 8.19908 6.30099L9.81401 1.29351Z\" fill=\"#FDCC0D\"\/>\r\n                                    <\/svg>\r\n                                <\/div>\r\n                            <\/div>\r\n                        <\/li>\r\n                                    <\/ul>\r\n            <\/div>\r\n                            <div class=\"review-block__right\">\r\n                                    <h2 class=\"review-block__title\">At a glance<\/h2>\r\n                                                    <div class=\"review-block__content\"><p>Wealthsimple Chequing account is like a checking account, a savings account and a debit and credit card all in one. Features are numerous, the app is user-friendly and it offers an interesting balance between features and interests on savings.<\/p>\n<\/div>\r\n                                                    <a class=\"review-block__link\" href=\"https:\/\/api.fintelconnect.com\/t\/l\/693067ea0d8f55150504b158\" rel=\"nofollow noopener\" target=\"_blank\">Open an account<\/a>\r\n                            <\/div>\r\n            <\/div>\r\n    <script type=\"application\/ld+json\">\r\n        {\r\n            \"@context\": \"http:\/\/schema.org\",\r\n            \"@type\": \"Review\",\r\n            \"itemReviewed\": {\r\n            \"@type\": \"SoftwareApplication\",\r\n            \"name\": \"Wealthsimple Prepaid Mastercard: My Experience with Wealthsimple Chequing account\",\r\n            \"description\": \"Wealthsimple is a Canadian fintech known for its investment app. Today, it offers many other products. I&#8217;ve had a Wealthsimple account for several years and applied for the Wealthsimple prepaid Mastercard in August 2025. How does it compare with the best prepaid cards in Canada? Pretty well, I&#8217;d say. I&#8217;ve been holding funds in this [&hellip;]\",\r\n            \"image\": \"https:\/\/hardbacon.ca\/wp-content\/uploads\/2023\/10\/Wealthsimple-Prepaid-Card.jpg\",\r\n            \"author\": \"David Szemerda\"\r\n            },\r\n            \"reviewRating\": {\r\n            \"@type\": \"Rating\",\r\n            \"ratingValue\": 4.5,\r\n            \"bestRating\": 5,\r\n            \"worstRating\": 0\r\n            },\r\n            \"author\": {\r\n            \"@type\": \"Person\",\r\n            \"name\": \"David Szemerda\"\r\n            },\r\n            \"reviewBody\": \"Wealthsimple is a Canadian fintech known for its investment app. Today, it offers many other products. I&#8217;ve had a Wealthsimple account for several years and applied for the Wealthsimple prepaid Mastercard in August 2025. How does it compare with the best prepaid cards in Canada? Pretty well, I&#8217;d say. I&#8217;ve been holding funds in this [&hellip;]\"\r\n        }\r\n    <\/script>\r\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-benefits-of-the-wealthsimple-prepaid-mastercard\">Benefits of the Wealthsimple prepaid Mastercard<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">I can use my Wealthsimple Mastercard, which works like a prepaid card, for online and in-store purchases. I&#8217;ve added it to Apple Wallet so I can use it everywhere. It&#8217;s free and there&#8217;s no minimum balance. It&#8217;s also possible to order a physical card, if that&#8217;s what you prefer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Most of the time, I lock my card. It&#8217;s very simple: I click on the card-shaped icon in the app (at the top right corner) and access my card&#8217;s functionalities. Once locked, there&#8217;s no danger of theft, even with Apple Wallet and on websites where I&#8217;ve registered my card. For example, I added this card to my Amazon profile to make purchases more quickly. It automatically registered as a debit card, which means it takes money from my linked account.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"298\" src=\"https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-amazon-1-1024x298.png\" alt=\"List of programmed credit cards on Amazon including Wealthsimple prepaid card\" class=\"wp-image-69773\" srcset=\"https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-amazon-1-1024x298.png 1024w, https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-amazon-1-300x87.png 300w, https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-amazon-1-768x223.png 768w, https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-amazon-1-1536x447.png 1536w, https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-amazon-1-2048x595.png 2048w, https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-amazon-1-1200x349.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">In addition, there are no foreign transaction fees when using the Wealthsimple card to buy something in a currency other than Canadian dollars, which is very convenient. I haven&#8217;t tried it yet, but I&#8217;m going on vacation in a few weeks, so I&#8217;ll be testing this feature soon. Wealthsimple charges US transaction fees when I buy US stocks, for instance, so it&#8217;s refreshing to see the improvement here!<\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"460\" height=\"1024\" src=\"https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-account-460x1024.png\" alt=\"Wealthsimple app showing my interest rate, cash back rate and additional features\" class=\"wp-image-69757\" srcset=\"https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-account-460x1024.png 460w, https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-account-135x300.png 135w, https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-account.png 476w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\" \/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"326\" height=\"710\" src=\"https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-set-rewrads.png\" alt=\"List of options for depositing cashback with Wealthsimple prepaid card\" class=\"wp-image-69759\" srcset=\"https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-set-rewrads.png 326w, https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-set-rewrads-138x300.png 138w\" sizes=\"auto, (max-width: 326px) 100vw, 326px\" \/><\/figure>\n<\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-card-features-and-how-it-works\">Card Features and How It Works<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Wealthsimple\u2019s prepaid Mastercard no longer offers a standard cash-back rate. Instead, the card is linked to the Wealthsimple Cash Account (chequing account), which earns interest and integrates directly with the rest of the Wealthsimple ecosystem (investing, crypto, managed portfolios).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can still move money instantly between your Chequing account and your investing or crypto accounts, including fractional shares, which makes it easy to grow your balance even without a cashback program.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-wealthsimple-cash-account-chequing\">The Wealthsimple Cash Account (Chequing)<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">I use the <a href=\"https:\/\/api.fintelconnect.com\/t\/l\/693067ea0d8f55150504b158\" target=\"_blank\" rel=\"noreferrer noopener sponsored nofollow\">Wealthsimple Cash Account<\/a> to manage my emergency fund and set aside money for taxes. The account currently offers a yield of 1.25% for Core clients, 1.75% for Premium clients, and 2.25% for Generation clients.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/help.wealthsimple.com\/hc\/en-ca\/articles\/9730610402075-Learn-about-the-Wealthsimple-chequing-account-interest-rate\" rel=\"nofollow noopener\" target=\"_blank\">Legal disclaimer<\/a><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"324\" height=\"424\" src=\"https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-pay-bill.png\" alt=\"Wealthsimple prepaid card account showing search tool for payees\" class=\"wp-image-69755\" srcset=\"https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-pay-bill.png 324w, https:\/\/hardbacon.ca\/wp-content\/uploads\/2024\/02\/wealthsimple-prepaid-card-pay-bill-229x300.png 229w\" sizes=\"auto, (max-width: 324px) 100vw, 324px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">Recently, I&#8217;ve been able to pay bills directly from my Wealthsimple Chequing account. I&#8217;ve started adding suppliers, such as Hydro-Quebec for my electricity bills. I plan to use this account more often.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It&#8217;s very easy to add money to my account. I usually use the &#8220;+&#8221; sign to add funds from my chequing account at another institution. I can also ask someone to send me money by Interac eTransfer or directly from their Wealthsimple account, if they have one. If I want to send money, it&#8217;s just as easy. It&#8217;s almost instantaneous. So the timescales are reasonable, but depositing from another institution&#8217;s account is a little slow, even if they&#8217;re still within industry standards. The first $1,000 is available right away, but any amount above that will take 5 working days to arrive.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Wealthsimple now offers chequebooks! You can get one for free if you have a Wealthsimple chequing account with direct deposit set up and have received at least one direct deposit. Otherwise, you can purchase a chequebook for $50 plus tax.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-alternatives-to-wealthsimple-chequing-account\">Alternatives to Wealthsimple Chequing account<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Wealthsimple isn&#8217;t the only interesting company offering innovative products in Canada. <a data-lasso-id=\"7452\" data-lasso-name=\"Compare Canadian Credit Cards\" href=\"https:\/\/hardbacon.ca\/en\/compare\/credit-cards\/\" target=\"_self\" rel=\"noopener\"><span style=\"font-weight: 400\">Compare the different prepaid credit cards<\/span><\/a><span style=\"font-weight: 400\"> and choose the one that suits your needs<\/span>. In my opinion, EQ Bank, Neo Financial and KOHO all offer good alternatives that might suit you.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-neo-money-card\">Neo Money Card<\/h3>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">The <a href=\"https:\/\/api.fintelconnect.com\/t\/l\/61859672d3d212001de1dfd0\" rel=\"sponsored nofollow noopener\" target=\"_blank\">Neo Money Card<\/a> comes with your Neo Money Account to give you quick access to your funds. With the card, you can earn an average of 5% cash back when you shop from over 10,000 Neo partner merchants. And every first-time purchase you make with a partner can give you up to 15% cash back or more. From the app, you can find tons of cash back opportunities near you so you never miss out. Plus, your account balance earns 1% interest until the moment you spend it. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-eq-bank-card\">EQ Bank Card<\/h3>\n\n\n\n\t\t<div class=\"relative p-10 rounded-sm shadow-(--shadow) !my-20  md:max-w-[900px] md:mx-auto\">\n\t\t\t\t\t\t\t\t\t<div class=\"md:flex gap-20 items-center\">\n\t\t\t\t<div class=\"shrink-0 md:w-1\/3 flex flex-col items-center justify-center\">\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/hardbacon-prod.s3.us-east-1.amazonaws.com\/comparators\/63d2cb6a18196b6d2e1928c2_offer_credit_card\" alt=\"Offer Image\" class=\"!my-0 mx-auto\">\n\t\t\t\t\t<a href=\"https:\/\/click.linksynergy.com\/fs-bin\/click?id=rrfvo1Wz0rU&#038;offerid=1115263.14&#038;type=3&#038;subid=0\" class=\"whitespace-nowrap button-link-sm-base button-link-filled text-white no-underline hidden md:block mt-5\" target=\"_blank\" rel=\"noopener noreferrer\">Get it now<\/a>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"text-center md:text-left\">\n\t\t\t\t\t<span class=\"font-medium text-xl md:text-2xl block mb-10\">EQ Bank Card<\/span>\n\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"font-regular divide-y divide-primary-dark\/10\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"flex justify-between py-2\">\n\t\t\t\t\t\t\t\t\t<span class=\"shrink-0 block font-medium w-[180px]\">offerTitle:<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"text-right\">Earn 0.5% cash back on all purchases with the EQ Bank Card <\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"flex justify-between py-2\">\n\t\t\t\t\t\t\t\t\t<span class=\"shrink-0 block font-medium w-[180px]\">Offer:<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"text-right\">This no-fee prepaid Mastercard has no foreign transaction fees. EQ Bank charges no fees for Canadian ATM withdrawals and reimburses ATM operator fees up to $5 per withdrawal, up to five times per month.<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"text-center md:hidden mt-8\">\n\t\t\t\t<a href=\"https:\/\/click.linksynergy.com\/fs-bin\/click?id=rrfvo1Wz0rU&#038;offerid=1115263.14&#038;type=3&#038;subid=0\" class=\"whitespace-nowrap button-link-sm-base button-link-filled text-white no-underline\" target=\"_blank\" rel=\"noopener noreferrer\">Get it now<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\n\n\n\n<p class=\"wp-block-paragraph\">The <a href=\"https:\/\/click.linksynergy.com\/fs-bin\/click?id=rrfvo1Wz0rU&amp;offerid=1115263.14&amp;type=3&amp;subid=0\" rel=\"sponsored nofollow noopener\" target=\"_blank\">EQ card<\/a> is provided when you open a Personal account with EQ Bank, a fully-fledged bank. The money in your account earns between 2.5% and 4% interest, while your spending earns 0.5% cash back. It&#8217;s less than Wealthsimple, but still an interesting alternative. EQ lets you withdraw money from any ATM in Canada (they refund fees, if there are any, unlike Wealthsimple) and allows foreign currency transactions without fees.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-koho-prepaid-mastercard\">KOHO Prepaid Mastercard<\/h3>\n\n\n\n\t\t<div class=\"relative p-10 rounded-sm shadow-(--shadow) !my-20 sm:w-[calc(100%-60px)] md:max-w-[900px] md:mx-auto\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/hardbacon.ca\/en\/credit-cards\/best-credit-cards-canada\/#h-11-koho-prepaid-mastercard-best-card-to-build-credit\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"absolute top-full left-1\/2 transform -translate-y-2\/5 -translate-x-1\/2 sm:-top-22 sm:-right-10 sm:-right-15 sm:left-auto sm:translate-x-0 sm:translate-y-0\">\n\t\t\t\t\t<img decoding=\"async\" class=\"max-w-30 max-h-30 w-auto h-auto\" src=\"https:\/\/hardbacon-prod.s3.us-east-1.amazonaws.com\/comparators\/637cf8206bbb7962c19ae225_offer_cc_badge\" alt=\"Offer Badge\">\n\t\t\t\t<\/a>\n\t\t\t\t\t\t<div class=\"md:flex gap-20 items-center\">\n\t\t\t\t<div class=\"shrink-0 md:w-1\/3 flex flex-col items-center justify-center\">\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/hardbacon-prod.s3.us-east-1.amazonaws.com\/comparators\/637cf8206bbb7962c19ae225_offer_credit_card\" alt=\"Offer Image\" class=\"!my-0 mx-auto\">\n\t\t\t\t\t<a href=\"https:\/\/kohofinancial.pxf.io\/c\/445127\/1277606\/15676?adtype=textlink&#038;adnetwork=Impact\" class=\"whitespace-nowrap button-link-sm-base button-link-filled text-white no-underline hidden md:block mt-5\" target=\"_blank\" rel=\"noopener noreferrer\">Get it now<\/a>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"text-center md:text-left\">\n\t\t\t\t\t<span class=\"font-medium text-xl md:text-2xl block mb-10\">KOHO Prepaid Mastercard Essential<\/span>\n\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"font-regular divide-y divide-primary-dark\/10\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"flex justify-between py-2\">\n\t\t\t\t\t\t\t\t\t<span class=\"shrink-0 block font-medium w-[180px]\">Annual Fee:<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"text-right\">$48 (with an initial 30-day free trial, then $4\/month or $48\/year).<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"flex justify-between py-2\">\n\t\t\t\t\t\t\t\t\t<span class=\"shrink-0 block font-medium w-[180px]\">Annual Fee Promotion:<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"text-right\">$0 if you deposit $1,000 per month to your KOHO Essential account OR set up a Recurring Direct Deposit.<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"flex justify-between py-2\">\n\t\t\t\t\t\t\t\t\t<span class=\"shrink-0 block font-medium w-[180px]\">Offer:<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"text-right\">Earn 1% cash back on transportation, groceries, and restaurants. Plus, start 30 day free trial.<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"flex justify-between py-2\">\n\t\t\t\t\t\t\t\t\t<span class=\"shrink-0 block font-medium w-[180px]\">Special Offer:<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"text-right\">Get $20 when you sign up for a KOHO account with code HARDBACON and unlock 5% savings interest!* Conditions apply.<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"text-center md:hidden mt-8\">\n\t\t\t\t<a href=\"https:\/\/kohofinancial.pxf.io\/c\/445127\/1277606\/15676?adtype=textlink&#038;adnetwork=Impact\" class=\"whitespace-nowrap button-link-sm-base button-link-filled text-white no-underline\" target=\"_blank\" rel=\"noopener noreferrer\">Get it now<\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/kohofinancial.pxf.io\/c\/445127\/1277606\/15676?adtype=textlink&amp;adnetwork=Impact\" rel=\"sponsored nofollow noopener\" target=\"_blank\">KOHO offers a free prepaid card<\/a>, as well as free and paid plans. With the free plan, you get 1% cash back on groceries and transportation, and 3% interest on your balance. With EQ, you need to schedule direct deposits or recurring bill payments to earn more than 2.5%, but with KOHO, it&#8217;s 3% with no strings attached. It&#8217;s possible to get a 2% cash back and 5% interest rate, but you have to pay a subscription fee, so do your calculations to make sure you get your money&#8217;s worth.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\" id=\"h-benefits-of-the-wealthsimple-cash-card\">For my part, I&#8217;ve used these products and find that they each have their strengths. KOHO offers a lot of financial education and help with budgeting, for example, whereas Wealthsimple does not. On the other hand, with Wealthsimple, I can invest and transfer money quickly between my accounts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wealthsimple is a Canadian fintech known for its investment app. Today, it offers many other products. I&#8217;ve had a Wealthsimple account for several years and applied for the Wealthsimple prepaid Mastercard in August 2025. How does it compare with the best prepaid cards in Canada? Pretty well, I&#8217;d say. I&#8217;ve been holding funds in this [&hellip;]<\/p>\n","protected":false},"author":163,"featured_media":69763,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[192,233],"tags":[],"class_list":["post-44376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-credit-cards","category-prepaid-credit-card"],"acf":{"has_no_offer_box":"1"},"_links":{"self":[{"href":"https:\/\/hardbacon.ca\/en\/wp-json\/wp\/v2\/posts\/44376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hardbacon.ca\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hardbacon.ca\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hardbacon.ca\/en\/wp-json\/wp\/v2\/users\/163"}],"replies":[{"embeddable":true,"href":"https:\/\/hardbacon.ca\/en\/wp-json\/wp\/v2\/comments?post=44376"}],"version-history":[{"count":0,"href":"https:\/\/hardbacon.ca\/en\/wp-json\/wp\/v2\/posts\/44376\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hardbacon.ca\/en\/wp-json\/wp\/v2\/media\/69763"}],"wp:attachment":[{"href":"https:\/\/hardbacon.ca\/en\/wp-json\/wp\/v2\/media?parent=44376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hardbacon.ca\/en\/wp-json\/wp\/v2\/categories?post=44376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hardbacon.ca\/en\/wp-json\/wp\/v2\/tags?post=44376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}