Trusted by 3.6 million Canadians, with over $155 billion in assets under administration.
What you need to know about this card
- Fees: $0 monthly, $0 annual, $0 card fee and $0 foreign transaction fees.
- Eligibility: No application, no credit check and no minimum income. You only need a Wealthsimple Chequing account.
- Spending limits: Up to $25,000 per transaction and $30,000 per day.
- ATM withdrawals: Up to $3,010 per day and $10,020 per week, with operator fees reimbursed.
Pros
- Truly fee-free: The card has no monthly, annual or card fee.
- Unlimited ATM refunds: Wealthsimple reimburses ATM operator fees worldwide, with no cap on how many or how much.
- No FX markup: Shopping in USD, euros or any other currency costs you nothing extra from Wealthsimple.
- Instant virtual card: You can start tapping with Apple Pay or Google Wallet the moment your Chequing account opens.
- Your money keeps growing: The linked Wealthsimple Chequing account earns up to 2.25% interest.
Cons
- No cash back: The 1% cash back from the old prepaid Mastercard ended in 2025.
- Doesn’t build credit: It’s a prepaid card, so your activity isn’t reported to credit bureaus.
Why choose Wealthsimple for your card?
The EQ Bank Card reimburses Canadian ATM fees only up to $5, five times a month. The Wealthsimple Visa Platinum Prepaid refunds ATM fees worldwide, with no cap.
KOHO charges a 1.5% FX fee on its free Essential plan, and removing it costs up to $22 a month. Wealthsimple gives you zero FX markup without any monthly fee.
The Neo Money Card adds a 2.5% FX fee unless you pay for a Grow membership. The Wealthsimple Visa Platinum Prepaid keeps purchases abroad fee-free for everyone.
The PC Money Account rewards grocery runs with PC Optimum points. For travellers, though, Wealthsimple wins with unlimited worldwide ATM refunds.
Debit cards from banks like TD or RBC often carry monthly account fees and a 2.5% FX markup. Wealthsimple’s card has $0 monthly fees and no FX markup.
How to Apply for Your Wealthsimple Visa Platinum Prepaid
Stop paying to spend your own money. With no credit check, no monthly fee and free ATM withdrawals worldwide, the Wealthsimple Visa Platinum Prepaid is ready the minute you open your account. Click below and get started today!