Fees and interest
| Annual fee | $0 |
|---|---|
| Additional card | Not offered |
| Purchases | Not applicable (prepaid) |
| Cash advances | Not applicable (prepaid) |
| Balance transfers | Not applicable (prepaid) |
| Foreign transactions | 0% |
Who can apply
| Income | None stated |
|---|---|
| Quebec | Not stated |
| Card type | Personal, Visa |
Perks and coverage
- ATM fee reimbursement
- Card balance interest
Coverage has conditions and limits. Read Wealthsimple's certificate of insurance or benefit terms before relying on it.
Good to know
A prepaid card
The Visa Platinum Prepaid card is a prepaid card: you fund your account before making purchases, and the card spends from your personal Wealthsimple chequing account. It needs no credit check, and Wealthsimple says it won’t affect your credit score. An individual account has one card. The virtual card is issued right away, and a physical card arrives by mail within 20 business days. Taps with the physical card are limited to $250 a purchase, while virtual tap purchases have no limit.
The Mastercard it replaced
Wealthsimple is moving all its prepaid Mastercards to the Visa Platinum Prepaid card in phases. Each holder has 60 days from the invite to switch, and from November 8, 2026, Wealthsimple deactivates any prepaid Mastercard not switched in that time. The prepaid Mastercard became a 0% cash back card on October 1, 2025.
Questions
Does the Wealthsimple Visa Platinum Prepaid Card earn cash back?
Does the Wealthsimple Visa Platinum Prepaid Card have a fee?
Does the Wealthsimple Visa Platinum Prepaid Card charge a foreign transaction fee?
Sources
The figures and rules on this page come from these sources, last checked against them on November 12, 2026. About CardNorth.
- wealthsimple.com: Chequing