Wealthsimple Cash is a peer-to-peer payment platform that makes it easy to send and receive money from friends and family.
Think of it as Canada’s alternative to Venmo and Cash App in the U.S.
When you sign up for Wealthsimple Cash using our referral link, you get up to a $25 cash bonus.
Note that Wealthsimple recently stopped its Cash App bonus. You can still get a $25 bonus when you sign up for a Trade or Invest account (more info below).
Wealthsimple Cash Referral Bonus
New users of Wealthsimple Cash get a referral bonus when they join using a valid referral link or code. To take advantage of this offer, sign up here (includes up to a $25 bonus with promo code WCEYAP).
The cash bonus is applied to your account within 24 hours to 14 days of opening it.
As a Wealthsimple Cash user, you can also earn unlimited referral bonuses. Simply click on the gift button in the top-right corner of the app and share your custom referral link to friends on social media, by text, or email.
When they sign up through your referral link, you both receive $25.
Note that the $50 Wealthsimple Cash bonus is no longer available.
What is Wealthsimple Cash?
Wealthsimple Cash is offered by Wealthsimple Payments Inc., a subsidiary of Wealthsimple. It is similar to Venmo and the Cash App by Square in the U.S.
The platform is free to use and has no monthly account fees.
Here’s how it works:
- Visit the Wealthsimple Cash website to sign up.
- Copy the code WCEYAP and use it to get your sign-up bonus.
- After signing up, you get a unique Dollar $ign that’s your username.
- Find your recipient from your contacts list. If they are not yet on Wealthsimple Cash, you can easily invite them.
- Send cash within seconds.
The Wealthsimple Cash Card is currently in beta. You can use it to pay bills online and in-store, earn cash back, and waive foreign currency transaction fees.
Other features of Wealthsimple Cash that are not yet available include ATM withdrawals, direct deposits, and pre-authorized debits.
Related: Best Prepaid Cards in Canada.
Is Wealthsimple Cash Safe?
Deposits in your Wealthsimple Cash and Wealthsimple Save accounts are kept at a Canada Deposit Insurance Corporation member institution.
If the bank becomes insolvent, you are protected for up to $100,000.
Wealthsimple Promotions and Promo Codes
In addition to the $25 bonus offer to new Wealthsimple Cash customers, you can also take advantage of the following Wealthsimple promotions:
Wealthsimple Invest: Enjoy automatic investing, portfolio rebalancing, and professional advice when investing in Canada’s largest robo-advisor. New clients who use our exclusive link get a $25 cash bonus. Learn more about the platform.
Wealthsimple Trade: This platform offers no-commission stock and ETF trading. If you prefer to pick your own stocks, Wealthsimple Trade is an excellent choice. Get a $25 cash bonus when you sign up here.
Wealthsimple Crypto: You can now buy 50+ coins on Wealthsimple Crypto, including Bitcoin, Ethereum, Litecoin, and Dogecoin. New users get a $25 cash bonus via this exclusive offer.
Wealthsimple Cash Alternatives
KOHO Easy Prepaid Mastercard
$20 sign up bonus after first purchase (use CASHBACK promo code during sign-up)
Earn up to 5% unlimited cash back
3.00% savings interest on your entire balance
Free budgeting app
$0 monthly fee
Neo Money Account
Unlimited 5% average cash back
No monthly fees + $20 bonus
2.25% non-promo interest rate paid on balance
Unlimited free transactions
Get a Mastercard for payments online and ATMs
Access to a no-annual-fee credit card
Wealthsimple Cash FAQs
Yes, Wealthsimple Cash makes it easy to split bills with friends, and there is no fee to send or receive money.
You can also get $25 when you open a Wealthsimple Invest or Trade account. When you sign up for Wealthsimple Cash using the promo code WCEYAP, there’s no longer a $1-$25 bonus.
Yes, Wealthsimple Cash is legit. Its parent company, Wealthsimple, has more than $15 billion in assets under management, and it is backed by some of the largest financial institutions in the world.
A regular Wealthsimple Cash promo code for getting a bonus when you sign up is WCEYAP. That said, the bonus offer is no longer available.
Simply click on the link above to set up your Wealthsimple Cash account, create your profile, fund your Cash account, and you can start sending money or paying for purchases.
Related:
Wealthsimple Cash $25 Sign-up Bonus
Overall
Summary
Use our Wealthsimple Cash referral promo code WCEYAP to get a $25 cash bonus when you sign up. You can also share your referral code or link with friends to earn.
