Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Wealthsimple | Press Release | Jan 21, 2020
TORONTO, Jan. 21, 2020 /CNW/ - Wealthsimple has launched its first hybrid saving and spending product: Wealthsimple Cash. The new account offers users the ability to save and spend with one of Canada's highest non-promotional interest rates of 2.4% - in addition to a host of features that help people earn more on every dollar in their Cash account.
Wealthsimple Cash combines a saving and spending account to give Canadians the power to have both an account that allows for everyday purchases while also providing a safe place to grow their money. Cash clients will benefit from no monthly account fees, no low balance fees, no foreign transaction fees worldwide, and ATM fee reimbursements - all through a sleek, metal card designed to make spending responsibly easy.
"Canadians are used to the status quo when it comes to everyday banking - multiple accounts, high fees and low interest," said Michael Katchen, CEO and co-founder, Wealthsimple. "With Wealthsimple Cash, users can enjoy the power of a high interest savings account for all of their day-to-day spending needs. And they can do so while enjoying the full benefits of a Wealthsimple account: simple, affordable and transparent."
Today, one million Canadians use Wealthsimple products for investing, saving, trading, tax filing, and now spending. The launch of Wealthsimple Cash brings the company one step closer to being its clients' primary financial relationship through a more holistic, end to end financial experience.
Wealthsimple Cash will have the following features:
Canadians can open a Wealthsimple Cash account today to start saving and be first to access spending features as they are rolled out over the coming months, including the Wealthsimple Cash card.
View original release: here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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