Earn up to 4% interest on your U.S. dollars
The account that lets you grow USD with no monthly fees or minimums — just high interest and easy access to your cash.
Interest that builds with your balance
Our high rates get even higher the more wealth you grow with us.
Account benefits that really add up
Earn market-leading interest
Most big banks offer 1% (or less) interest on USD. Not only are our rates higher, they're also not limited-time offers, or promotional rates.
Save on fees
With no monthly fees, transfer fees, balance requirements, or hidden catches, you can save all your USD, not just what’s left after the bank’s cut.
Easily convert your cash
Easily convert your CAD to USD at our competitive exchange rates, then instantly access it anytime from our app or on desktop.
The simple way to grow your USD
Access all your wealth in one place
Manage your USD alongside your investments, savings, and more — with smooth transfers from external USD accounts and your other Wealthsimple accounts.
Keep U.S. dollars on hand to invest
Move funds instantly to your USD trading account when you’re ready to enter the market, or earn high interest on it while you wait.
Make organizing your savings simple
Easily open up to eight USD savings accounts to save towards different goals — no long bank lines, no paperwork, and no cheesy hold music.
Switch your pay. Earn more interest.
As a Core or Premium client, set up a direct deposit of $2,000+ CAD and unlock an extra 0.5% interest on all your chequing and savings accounts, including your USD savings accounts.
Get even more when you consolidate your assets
Unlock access to benefits and rewards from one of our trusted partners, like Uber, Strava, Headspace, and more, when you have $200,000+ with us.
Earn more on your USD
Open an account in minutes and start earning interest right away.
FAQs
Our interest rates have no set end date or limited promotional periods, but there’s always a chance the Federal Reserve might change its rates. If they do, we’ll follow suit and let you know when we do.
Your interest is an annualized rate, calculated daily, paid out monthly, and subject to change.
No — we don’t require any minimum account balances and don’t charge any monthly fees.
Right now, you can open up to 8 USD savings accounts where you’ll earn high interest that’s paid out monthly. Plus, you can easily transfer funds between your existing Wealthsimple accounts (like your USD self-directed investing account), and you can convert your CAD to USD in the app, too. You can find out more about the conversion fees here.
We are working on enabling more payment and transaction methods for USD savings accounts, so stay tuned for more on that.
You can fund your USD savings account by transferring USD funds from another Canadian financial institution, through a USD wire transfer, by linking a USD bank account, or from another Wealthsimple account. You can find out more about funding your account here.
You can deposit and withdraw funds from a linked USD bank account, by wire transfer from a CAD financial institution, or from another Wealthsimple account. Right now, you can’t deposit or withdraw physical cash, spend your USD from the virtual or physical prepaid Mastercard card, or send and request e-transfers from the USD savings account.
Not yet, but you can still get the 0.5% interest boost on your USD when you direct deposit your paycheque of $2,000 CAD or more per month into your chequing account if you are a Core or Premium client. You can find out more about the interest boost here.