Where is my money being held?
As a user of the 1.2% earn interest feature, we’ll open an account for you with Wealthsimple Investments Inc. Wealthsimple Investments Inc. is a member of the Investment Industry Regulatory Organization of Canada (IIROC).
Is my money protected?
All cash balances from your 1.2% interest account are held in trust at a Canada Deposit Insurance Corporation (CDIC) (https://www.cdic.ca/about-us/) member institution. Coverage is available for eligible deposits.
How do you make money on this product?
We earn a small referral fee for making a referral to our service provider, Wealthsimple Investments Inc. This fee does not come out of the interest* that you earn on your balance.
*Interest rates are per year, calculated daily, paid monthly, and can change at any time without notice.