Wealthsimple has unveiled a suite of new financial products, including its first credit card, an instant line of credit, and expanded chequing account features, reinforcing its ambition to become Canada’s full-service digital banking alternative.
CEO Michael Katchen emphasized a shift away from traditional banking, citing client frustration with hidden fees and outdated experiences. The new card offers 2% cash back and no FX fees, while the line of credit—launching later this year—will offer low, asset-backed rates. Enhanced chequing features include 2.75% interest, 1% cash back, and fraud protection. Wealthsimple continues to build toward a future without bank branches.
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