Wealthsimple announcements: Penny, Pro and a business card

Wealthsimple says its Pay transfers, commission-free Canadian stock options, and direct indexing in existing accounts are available now.
Wealthsimple Pro is expected in late 2026. Support for the CADD stablecoin remains subject to regulatory approval.
Penny and the Wealthsimple Business Credit Card are expected in early 2027. Penny will require confirmation before carrying out transactions.

The Wealthsimple announcements on November 5, 2026 cover payments, credit cards and investing. Wealthsimple introduced Penny, its AI financial assistant, the Wealthsimple Pro trading platform and an upcoming business credit card offering 1% cash back.

Some services are available now, including commission-free Canadian stock options and transfers between Wealthsimple clients. Others are scheduled for late 2026 or early 2027. Here is what changes for customers, the conditions to watch and the announced launch schedule.

Which Wealthsimple launches are already available?

Wealthsimple’s November 5 news release and official event page set out the dates below. These are the company’s announced timelines, which may change before products launch. All dollar amounts in this article are Canadian dollars unless specified otherwise.

Wealthsimple’s announced launch schedule as of November 5, 2026
Availability	Products and features	What to check
Available now	Canadian stock options, shorter mobile order entry, direct indexing in existing accounts and Wealthsimple Pay	Pay’s $100,000 limit applies to transfers between Wealthsimple clients.
Available by invitation	Portfolio line of credit interest rebate	90-day rebate on interest on the first $3,000 borrowed. Eligibility and deadlines apply.
Late November 2026	Perpetual futures	These derivatives can magnify losses as well as gains.
Late 2026	Wealthsimple Pro, CADD and temporary virtual cards	CADD support remains subject to regulatory approval.
Early 2027	Penny, Claude and ChatGPT connections, redesigned app, business credit card and 24/7 U.S. stock trading	The business card and Penny have waitlists.

What will Penny do, and when will it launch?

Penny is expected in early 2027. The assistant will be able to prepare bill payments, money transfers and investment transactions. Wealthsimple also describes spending and portfolio analysis, including the ability to flag duplicate credit card charges.

For an RRSP contribution goal, Penny could review the available information and suggest recurring contributions. You would still need to check your contribution room, including transactions made at other institutions.

The assistant’s product page says it will require confirmation before sending money, paying a bill or placing an order. It will show details such as the amount, account and recipient first. If it misunderstands a request, you can reject the proposed action and correct it.

Separately, connections to Claude and ChatGPT are scheduled for early 2027. Clients will choose the permissions granted when connecting their accounts. Wealthsimple says sensitive actions will require additional verification. These connections and Penny are separate services.

Pro and Canadian stock options

Wealthsimple Pro arrives in late 2026

Wealthsimple Pro is aimed at active traders. It will bring positions, watchlists and Level 2 market data into one trading workspace. Level 2 data shows pending buy and sell orders at different prices.

The presentation also shows adjustable screen layouts and tools for options strategies. Wealthsimple advertises execution in milliseconds. That describes the company’s technology claim; it does not guarantee execution at a particular price. A beta is expected later in November, with availability planned for late 2026.

Canadian-dollar options are available now

Commission-free options on Canadian stocks are available now, according to Wealthsimple. Clients can buy calls and puts on TSX-listed stocks and sell covered options, subject to account eligibility. Premiums are paid and received in Canadian dollars.

Zero commission does not remove investment risk. Purchased options can expire worthless, while the obligations from selling options depend on the strategy. Investors need to understand those obligations before placing a trade.

Wealthsimple also says mobile order entry has fallen from eight steps to two, taking four seconds instead of 21 in its example. Those figures describe its order-entry process. Actual market execution also depends on the order and trading conditions.

You can explore Wealthsimple’s investing services to review the products currently offered.

Perpetual futures, CADD and direct indexing

Perpetual futures are coming in November

Perpetual futures are scheduled for late November 2026. The news release lists cryptocurrencies, metals and indices. These derivatives let traders take a position on an asset’s price without owning the underlying asset, and they have no expiry date.

They can use leverage, which magnifies losses as well as gains. Their role in an active trading strategy should be assessed separately from everyday savings needs.

CADD carries a 3.25% rewards announcement

Wealthsimple expects to support CADD in late 2026, subject to regulatory approval. The stablecoin is designed to track the Canadian dollar and be redeemable at a one-to-one rate.

The company announced 3.25% annual rewards on CADD holdings at Wealthsimple. The rewards announced on November 5 are separate from the token’s mechanism for maintaining its Canadian-dollar value.

A digital asset carries risks even when it targets a stable value. Review the issuer, redemption arrangements and product terms before comparing it with a bank account. Wealthsimple also discloses minority ownership interests in CADD’s issuer and administrator.

Direct indexing in existing accounts

Direct indexing is now available in existing accounts, with four indices offered. Instead of holding units of a single ETF, investors hold the securities making up an index.

In a non-registered account, selling securities at a loss may help offset capital gains, subject to tax rules. Wealthsimple estimates an increase of up to 0.5% a year in after-tax returns. Its presentation identifies that estimate as a hypothetical projection. Actual results depend on the portfolio and the investor’s tax circumstances.

The company also lists around-the-clock U.S. stock trading for early 2027. Its presentation discusses tiered margin borrowing rates, index options and extended options trading hours. Each service’s terms will need to be reviewed when it becomes available.

How do Wealthsimple Pay and temporary virtual cards work?

Wealthsimple Pay now supports instant transfers of up to $100,000 to another Wealthsimple client. This is a limit for transfers within its service. It is not a new general Interac e-Transfer limit for payments to any Canadian bank.

The news release says an unauthorized-transaction reimbursement guarantee is linked to using a passkey. Customers should check the protection’s conditions before relying on it.

The Wealthsimple Chequing Account provides the everyday banking account. You can view the chequing account offer.

Temporary virtual cards are scheduled for late 2026. Holders of a Wealthsimple Prepaid Visa Platinum* Card or a Wealthsimple credit card will be able to have up to five at a time. Each will have its own card number, expiry date and spending limit. They can be used for online purchases, including payments prepared by an AI agent.

When will the Wealthsimple Business Credit Card launch?

The Wealthsimple Business Credit Card is planned for early 2027. Wealthsimple announced 1% cash back on purchases and no foreign exchange fees. Employee cards and virtual cards with spending controls are also planned.

The eligibility page says it is intended for Canadian business owners with a Wealthsimple business chequing account. Approval is based on the owner’s personal profile. The announced thresholds are:

annual personal income of at least $60,000;
or annual business revenue of at least $500,000.

Pre-approval uses a soft credit check. Completing an application may involve a hard credit check, with the applicant’s consent. Full eligibility details will be provided when the card becomes generally available.

The Wealthsimple Business Chequing Account and the upcoming credit card are separate products. Annual fees, insurance and other card terms need to be confirmed before comparing the new card with existing options.

Milesopedia covers the foreign transaction fees, announced eligibility, and cards available today. Read more about the Wealthsimple Business Credit Card.

Businesses looking for a card today can consider the Scotiabank Passport Visa Infinite Business Card, which earns Scene+ points and has no foreign transaction fees on purchases.

Compare

Scotiabank Passport^® Visa Infinite Business* Card

Business Scotiabank Scene+

Annual fee: $199
Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$400Total$400Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.: $400
Welcome offerAfter $60,000 in 12 months: Up to 40,000 points; Ends Feb 28, 2027

With the Scotiabank Passport^MD Visa Infinite Business* Card, you can get up to 40,000 Scene+ points as a welcome bonus ($199 annual fee, waived in the first year for eligible professionals and clients only):

30,000 points after $5,000 in purchases during the first 3 months
10,000 points after $60,000 in purchases during the first 12 months

With the Scotiabank Passport^MD Visa Infinite Business* Card, you pay no foreign transaction fees.

Additionally, you receive six complimentary annual airport lounge accesses worldwide.

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*Conditions apply. Rates, fees, and other information are effective as of February 2, 2026. Subject to change.

Annual fee

Primary card$199

Additional card$0

Annual income required

Individual$60,000

Household$100,000

Conversion fees

Earning rate

1.5xAll spending

Value

1st Year Value$551

2nd Year Value$401

Card benefits

Airport lounge access$240

Travel insurance

Travel medical (under 55)Included

Travel medical (55-64)Included

Travel medical (65+)Included

Trip CancellationUp to $2,500

Trip InterruptionUp to $2,500

Delayed BaggageUp to $1,000

Lost BaggageUp to $1,000

Flight DelayUp to $500

Hotel BurglaryUp to $1,000

Travel AccidentUp to $500,000

Purchase protection

Purchase ProtectionIncluded

Extended Warranty+1 years

Auto Rental CollisionUp to $65,000 / 48 days

Visa Infinite+ and Infinite Privilege

For personal spending, Wealthsimple already offers the Wealthsimple Visa Infinite+* Card and Wealthsimple Visa Infinite Privilege* Card. These are separate from the business card announced at the event.

Their current terms, reviewed on November 5, provide 2% cash back on eligible purchases and no foreign transaction fees on purchases. The standard $240 annual fee can be waived under qualifying conditions, including client status or eligible direct deposits. Income requirements and benefits differ between the two versions.

Compare the fee after any waiver, your eligibility and the insurance that actually applies in your province. The product pages explain those differences.

ExclusiveCompare

Wealthsimple Visa Infinite+* Card

WealthsimpleCash Back

Annual fee: $240
Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$500Total$500Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.: $500
Welcome offerInvitation-only offer (new Wealthsimple clients): extra 3% cash back (5% total) on the first $10,000 in net purchases during the 35 days after approval. The card must stay open for 180 days after the boosted period.: Up to $500 cash back

Invitation-only welcome offer: earn up to $500 cash back on your first $10,000 in purchases during the 35 days after approval, for 5% cash back (2% base + 3% boost).

Purchases in the first 35 days	Base cash back (2%)	Boost (3%)	Total cash back (5%)
$2,500	$50	$75	$125
$5,000	$100	$150	$250
$10,000	$200	$300	$500

The 3% boost only applies to the first $10,000 in net purchases during the 35 days after approval; beyond that, purchases earn the standard 2%. The card must stay open for 180 days after the boosted period.

With the Wealthsimple Visa Infinite+* Card, earn 2% cash back on all your purchases, with no categories to track and no cap.

In addition, there are no foreign exchange fees on any purchase made in a currency other than the Canadian dollar, and no annual fee if you hold more than $100,000 in assets with Wealthsimple, or if you transfer the direct deposit of an eligible payroll to Wealthsimple.

To be eligible for this card, you must have a personal income of at least $80,000 or a household income of at least $150,000.

Some travel insurance is not currently offered to Quebec residents.

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Annual Fee Waiver

The Annual Fee (“Fee”) for the Wealthsimple Visa Infinite* or Wealthsimple Visa Infinite Privilege* credit card (“Card”) is $240 and is charged monthly at $20. The monthly fee is charged when the Card is issued (regardless of activation) and is billed to the first statement and once a month thereafter, unless this Fee is waived. Waiving the Fee is a promotional offer (“Fee Waiver Offer”) and requires clients to meet specific criteria to qualify and continue having the Fee waived. The Card Fee is automatically waived for any client with a Premium or Generation status, and the Fee will continue to be waived so long as that status is maintained. The Fee Waiver Offer is also available to Core clients who direct deposit at least $4,000 per month into their Wealthsimple Chequing Account (“Chequing Account”) within the preceding 30-days. Only direct deposits classified by Payments Canada as pre-authorized transactions with transaction codes ranging from 200 to 207, 310, 311, and 318 would be considered eligible. (“Qualifying Deposit”). If a Core client doesn’t make a Qualifying Deposit, or if a Premium or Generation client cannot maintain their status and becomes a Core client without a Qualifying Deposit, the monthly fee of $20 will be added to their next statement and continue to be charged until a Qualifying Deposit is confirmed.

For residents of Quebec: The Quebec Annual Fee (“Annual Fee”) for the Wealthsimple Visa Infinite* or Wealthsimple Visa Infinite Privilege* credit card is $240 and is charged when the Card is issued (regardless of activation) and is billed to the first statement and once a year thereafter. Waiving the Fee is a promotional offer (“Quebec Fee Waiver Offer”) and requires clients to meet specific criteria to qualify. The Annual Fee is automatically waived for any client with Premium or Generation status at the time the Card is issued. If a Core client obtains Premium or Generation status after the Annual Fee has been applied, a prorated refund will be issued for the number of months remaining in the current twelve (12) month period, which starts on the anniversary of the Card issuance date (“Card Year”) from the month eligibility is obtained ($20 per month). The Quebec Fee Waiver Offer is also available to Core clients who direct deposit at least $4,000 per month into their Chequing Account within the 30-days preceding the time the Card is issued. Only direct deposits classified by Payments Canada as pre-authorized transactions with transaction codes ranging from 200 to 207, 310, 311, and 318 would be considered eligible. (“Qualifying Deposit”). If a Core client starts making Qualifying Deposits after the Annual Fee has been applied, a prorated refund will be issued for the number of months remaining in the current Card Year from the month eligibility is obtained ($20 per month).

Credit Card Rewards (Cashback Offer)

The cash back promotional offer (“Cashback Offer”) is valid for new and existing users of the Card. The 2% earn rate, which may be subject to change, applies to purchases, excluding cash-like transactions, refunds, any applicable fees and adjustments (“Qualified Spend”). Cash back credits are earned on Qualified Spend only. You may redeem your cash back as soon as the Qualified Spend transaction is settled or up to 10 years after the Qualified Spend transaction is settled. Cash back can be redeemed directly in the app. Cash back can only be deposited into your Wealthsimple chequing, TFSA, RRSP, or non-registered accounts. There is no minimum amount needed to redeem. If a refund is processed after the Cash back credit is redeemed, the amount will be deducted from your rewards balance.

General Terms and Conditions

Wealthsimple Payments Inc. (“Wealthsimple”) reserves the right to amend, withdraw or restrict the Fee Waiver Offer or the Cashback Offer at any time without notice. Wealthsimple is the sole arbiter of these rules, the eligibility criteria, and any other issue arising in connection with the Fee Waiver Offer or the Cashback Offer. If Wealthsimple suspects fraud or abuse, system manipulation, or a violation of these terms, Wealthsimple reserves the right to remove all promotions from the Wealthsimple account in question and take any other action it deems appropriate, including the termination of the card in question. An invitation to participate in the Fee Waiver Offer or the Cashback Offer does not constitute a guarantee that the recommended person will be accepted as a Wealthsimple client. The Fee Waiver Offer and the Cashback Offer are only available to individuals residing in Canada who meet Wealthsimple’s eligibility criteria. The Wealthsimple Visa Infinite +* Credit Card is issued under license by Wealthsimple Payments Inc. * Trademark of Visa Int., used under license.

Wealthsimple is not responsible for maintaining the accuracy of information on this website. Refer to Wealthsimple’s page for more details.

Terms and conditions apply. For the latest product details, please visit Wealthsimple.com.

Annual fee

Primary card$240

Additional card$0

Annual income required

Individual$80,000

Household$150,000

Conversion fees

Earning rate

2xAll spending

Value

1st Year Value$360

2nd Year Value$240

Travel insurance

Travel medical (under 55)Up to $1,000,000 / 14 days

Travel medical (55-64)Up to $1,000,000 / 14 days

Trip CancellationUp to $1,000

Trip InterruptionUp to $1,000

Delayed BaggageUp to $500

Lost BaggageUp to $750

Flight DelayUp to $1,000

Purchase protection

Purchase ProtectionUp to $1,000 / 90 days

Extended Warranty+1 years

Mobile DeviceUp to $1,000

ExclusiveCompare

Wealthsimple Visa Infinite Privilege* Card

WealthsimpleCash Back

Annual fee: $240
Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$500Total$500Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.: $500
Welcome offerExclusive offer: extra 3% cash back (5% total) on the first $10,000 in net purchases during the 35 days after approval. The card must stay open for 180 days after the boosted period.: Up to $500 cash back

Exclusive welcome offer: earn up to $500 cash back on your first $10,000 in purchases during the 35 days after approval, for 5% cash back (2% base + 3% boost).

Purchases in the first 35 days	Base cash back (2%)	Boost (3%)	Total cash back (5%)
$2,500	$50	$75	$125
$5,000	$100	$150	$250
$10,000	$200	$300	$500

With the Wealthsimple Visa Infinite Privilege* Card, get 2% cash back on all your purchases, with no annual limit.

In addition, there are no foreign exchange fees for any purchase made in a currency other than the Canadian dollar and no annual fees if you hold more than $100,000 in assets with Wealthsimple, or if you transfer direct deposit of an eligible payroll to Wealthsimple.

Some travel insurance is not currently offered to Quebec residents.

Legal

Annual Fee Waiver

Credit Card Rewards (Cashback Offer)

General Terms and Conditions

Wealthsimple Payments Inc. (“Wealthsimple”) reserves the right to amend, withdraw or restrict the Fee Waiver Offer or the Cashback Offer at any time without notice. Wealthsimple is the sole arbiter of these rules, the eligibility criteria, and any other issue arising in connection with the Fee Waiver Offer or the Cashback Offer. If Wealthsimple suspects fraudulent or abusive behaviour, gaming of the system or a violation of these terms, Wealthsimple reserves the right to remove all promotions from the applicable Wealthsimple account and take any other action it deems appropriate including, but not limited to, canceling the applicable Card. An invitation to participate in the Fee Waiver Offer or the Cashback Offer does not provide assurance that the referred customer will be accepted as a customer of Wealthsimple. Both the Fee Waiver Offer and the Cashback Offer are only valid for individuals in Canada that otherwise meet Wealthsimple’s eligibility requirements. The Wealthsimple Visa Infinite Privilege* Credit Card is issued under license by Wealthsimple Payments Inc. * Trademark of Visa Int., used under license.

Wealthsimple is not responsible for maintaining the accuracy of information on this website. Refer to Wealthsimple’s page for more details.

Terms and conditions apply. For the latest product details, please visit Wealthsimple.com.

Annual fee

Primary card$240

Additional card$0

Annual income required

Individual$150,000

Household$200,000

Conversion fees

Earning rate

2xAll spending

Value

1st Year Value$360

2nd Year Value$480

Card benefits

Airport lounge access$240

Travel insurance

Travel medical (under 55)Up to $2,000,000 / 14 days

Travel medical (55-64)Up to $2,000,000 / 14 days

Trip CancellationUp to $1,500

Trip InterruptionUp to $1,500

Delayed BaggageUp to $1,000

Lost BaggageUp to $1,000

Purchase protection

Purchase ProtectionIncluded

Extended Warranty+1 years

Mobile DeviceUp to $1,000

Auto Rental Collision (primary)Included

Compare the cards available today in our rankings of the best credit cards with no foreign transaction fees and the best business credit cards.

A 90-day interest rebate

Wealthsimple is also promoting its portfolio line of credit. Invited, eligible clients can receive an interest rebate on the first $3,000 borrowed for 90 days.

The official promotion terms restrict the offer to clients who have never withdrawn from their portfolio line of credit. Eligible new accounts have 90 days after opening to make the required withdrawal. For an eligible existing line, the deadline is January 18, 2027.

This is a separately credited rebate: interest is charged normally first. Borrowers remain responsible for repaying principal and any interest the rebate does not cover. The promotion began on October 21, so it is not a new loan product launched at the event.

The credit line is secured by investments. A decline in their value can trigger a repayment demand or sale of securities, as explained in the portfolio line of credit terms.

A rebuilt app in early 2027

Wealthsimple is preparing separate native apps for iOS and Android. Clients will be able to rearrange the home screen around spending, household net worth or investments. A trading mode will put positions and pending orders closer at hand.

The company says the app will open five times faster. That is a claim from its presentation, rather than an independent measurement. The complete redesign is expected in early 2027, although some order-entry improvements are already described as available.

What changes for you?

The immediately usable changes primarily concern Canadian stock options, Wealthsimple Pay and direct indexing in existing accounts. For Penny, Pro, CADD and the business card, launch dates and final product terms remain central to any decision.

For existing savings products, see the Wealthsimple Save product page and account-opening offer. A savings account, securities portfolio and stablecoin serve different purposes and carry different protections.

Follow future announcements through the Ratesopedia newsletter.

Frequently asked questions about Wealthsimple

When will Penny be available?

Wealthsimple expects to introduce Penny in early 2027 and has opened a waitlist. The assistant will prepare banking and investment actions, with confirmation required before execution.

Is Wealthsimple Pro available to everyone?

Wealthsimple Pro is scheduled for late 2026, with a beta announced for later in November. The announcement should not be read as immediate general availability.

Does CADD guarantee a 3.25% return?

Wealthsimple announced 3.25% annual rewards on CADD holdings. That does not guarantee a total return or protect principal. Support for the token remains subject to regulatory approval.

Can Pay send $100,000 to any bank?

The announced $100,000 limit applies to Wealthsimple Pay transfers between Wealthsimple clients. Transfers to other financial institutions use their own payment methods and limits.

Does the business card replace personal cards?

Wealthsimple is introducing a separate business card, planned for early 2027. Its personal Visa Infinite+ and Infinite Privilege cards retain their own eligibility requirements, fees and benefits.

Which Wealthsimple launches are already available?

Wealthsimple’s announced launch schedule as of November 5, 2026
Availability	Products and features	What to check
Available now	Canadian stock options, shorter mobile order entry, direct indexing in existing accounts and Wealthsimple Pay	Pay’s $100,000 limit applies to transfers between Wealthsimple clients.
Available by invitation	Portfolio line of credit interest rebate	90-day rebate on interest on the first $3,000 borrowed. Eligibility and deadlines apply.
Late November 2026	Perpetual futures	These derivatives can magnify losses as well as gains.
Late 2026	Wealthsimple Pro, CADD and temporary virtual cards	CADD support remains subject to regulatory approval.
Early 2027	Penny, Claude and ChatGPT connections, redesigned app, business credit card and 24/7 U.S. stock trading	The business card and Penny have waitlists.

What will Penny do, and when will it launch?