Chequing account · Wealthsimple
Wealthsimple Chequing: fees and true cost
Wealthsimple’s Wealthsimple Chequing charges no monthly fee, with unlimited transactions. For our “Everyday” example that comes to $0 a year, #1 of 33 chequing accounts offered nationwide.
Partner-heldOffered in all ten provinces
Fees retrieved November 1, 2026
What it would cost you in a year
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $0 | No monthly fee | 2 of 33 |
| Everyday Household account, a few e-Transfers | $0 | No monthly fee | 1 of 33 |
| Heavy Lots of card, bill and e-Transfer payments | $0 | No monthly fee | 1 of 33 |
| Branch and cheques Teller visits, cheques, paper statement | n/a | Can’t do: branch transactions, paper statements | — |
Try your own numbers in the true-cost finder.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | No monthly fee |
| Included transactions | Unlimited |
| Debit purchase in Canada (beyond included) | No extra fee |
| Online or mobile bill payment | No extra fee |
| Interac e-Transfer | No extra fee |
| Online transfer between your accounts | No extra fee |
| Own-bank ATM withdrawal | No extra fee |
| Withdrawal at another institution’s ATM | No extra fee |
| ATM withdrawal in the United States | No extra fee |
| ATM withdrawal in other countries | No extra fee |
| Debit purchase in the United States | No extra fee |
| In-branch withdrawal | No extra fee |
| Bill payment in branch | Not available |
| Cheque (as a payment) | No extra fee |
| Mailed monthly statement | Not available |
| Non-sufficient funds (NSF) | No extra fee |
| Overdraft protection, monthly | No extra fee |
| Overdraft protection, per use | No extra fee |
| Overdraft interest | 4.95% a year |
Interest
| Balance | Rate (annual) |
|---|---|
| $0 and up | 1.25% |
Notes from the institution
FCAC lists this account once per Wealthsimple client tier with identical fees; only the interest rate differs (Core 1.25%, Premium 1.75%, Generation 2.25%). Tiers depend on the assets you hold with Wealthsimple. We show the Core rate. FCAC retrieved information for this account from publicly available information on the financial institution's website. Product features, fees, rates and eligibility requirements may change. Please verify current account details directly with the financial institution.
Is the money protected?
Not a bank: held at partner institutions. This company isn’t a bank; read which institutions hold your money in the deposit safety tool.
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · Wealthsimple’s product page
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