MBNA will only provide a one time transfer to Alaska Airlines for past Alaska cardholders + MORE Jul 30th

Here’s our next update to the American Express Cobalt Card Confirmed Multiplier Locations with 49 new locations being added today from Canada, the U.S. and U.K. Thanks to the RWRDS Canada community for providing details on thousands of locations around the world where you can use the American Express Cobalt Card to earn up to […]
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Some unfortunate news out of MBNA today as letters are arriving for MBNA Rewards Mastercard holders who had previously held the MBNA Alaska Airlines cards. As posted to the Churning Canada Subreddit by Black_XStar,  the transfer option from MBNA to Alaska that has been discussed for over a year will be limited to a one […]
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CIBC Aventura switching to Expedia as their travel provider, Rexall Be Well Redemption event and an Amex Offer for Burberry. Check out today’s points & miles updates here:
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Wealthsimple Cash is a high-interest chequing/savings account that offers one of the highest interest rates in Canada. It has appealing yields and includes a prepaid Mastercard with no foreign exchange fee, so many consumers are naturally attracted to the account. Is it any good? The short answer is yes, but there are a few quirks to be aware of.

What is Wealthsimple Cash?

Wealthsimple started as a robo-advisor offering low-cost portfolio management, but it has since expanded to provide more products and services, such as self-directed investing (under Wealthsimple Trade), tax returns, mortgages and savings accounts. 

Wealthsimple describes the Cash account as a high-interest chequing account. That label is important: it’s what allows Wealthsimple to claim it offers the highest interest rate in Canada. (A few high-interest savings accounts, or HISAs, offer similar interest rates.) 

Wealthsimple also incentivizes customers to spend the money in their account by offering rewards on purchases, which is likely another reason it’s referred to as a chequing account instead of a savings account…