Wealthsimple account types in 2026 cover nearly every account a Canadian saver or investor needs: registered plans, taxable investing, cash accounts, joint accounts and business accounts. This guide lists all of them in one table, then walks through each type, including the LIRA and RESP, which an earlier version of this guide wrongly said Wealthsimple didn’t have, and the household vs joint account choice that couples run into. By the end you’ll know what to open, what to transfer in and what to keep at another institution. YieldMaple checked Wealthsimple’s accounts, Households, LIRA and business chequing pages on September 24, 2026; every figure below comes from a sourced rate or a calculation you can check.
Wealthsimple account types at a glance
| Feature | What it's for | Ways to invest or earn | Joint version? |
|---|---|---|---|
| TFSA | Tax-free growth and withdrawals | Self-directed or managed | No |
| RRSP and spousal RRSP | Tax-deferred retirement saving | Self-directed or managed | No (spousal RRSP instead) |
| FHSA | A first-home down payment | Self-directed or managed | No |
| RESP | A child's education, plus federal grants | Self-directed or managed | Family or individual plan; joint subscribers not stated |
| LIRA (and LIF transfers) | Pension money from a former employer | Self-directed or managed | No |
| RRIF | Retirement income from an RRSP | Self-directed or managed | No (spousal RRIF transfers accepted) |
| Non-registered | Taxable investing with no limits | Self-directed (cash or margin) or managed | Yes (better on this row) |
| Chequing | Spending and everyday saving | 1.25% interest on Core | Yes (better on this row) |
| Savings | Money set aside from everyday spending | Interest: 2.5% (available to every client, no tiers) | Not stated on Wealthsimple's Savings page |
| Corporate (business) | An incorporated company's cash and investments | Business chequing; self-directed or managed investing | Several authorized people per corporation |
| RDSP | Disability savings | Not offered | Not offered |
Sources: wealthsimple.com/en-ca/accounts and its account pages, Wealthsimple's account-agreements page, Savings page, business pages and help-centre transfer table. Checked September 24, 2026.
What accounts does Wealthsimple offer?
Wealthsimple offers the TFSA, RRSP, spousal RRSP, FHSA, RESP, LIRA, RRIF, non-registered, margin, chequing, savings and corporate accounts, but not the RDSP.
Wealthsimple lists its self-directed account types as TFSA, RRSP, FHSA, RESP, LIRA, RRIF, non-registered (cash and margin), and corporate accounts, and opening any of them costs $0. Self-directed trading, which many people still call Wealthsimple Trade, charges $0 in commission on Canadian and US stocks and ETFs in every one of those accounts. Wealthsimple’s transfer table goes further and accepts non-registered (individual and joint), TFSA, RRSP, spousal RRSP, FHSA, RRIF, spousal RRIF, LIRA, LIF, pension, RESP, business, and margin accounts, so an account you hold elsewhere can usually move over as the same type.
Almost every investment account can also be managed: Wealthsimple builds and rebalances a portfolio for 0.50% a year on Core. Whether that fee is worth paying over buying an all-in-one ETF yourself is covered in Wealthsimple managed investing vs buying XEQT yourself. Investment accounts carry CIPF protection, with securities eligible for CIPF coverage up to $1M per defined account.
The sections below go through the account types in four groups: registered plans (TFSA, RRSP, FHSA, RESP, RRIF and LIRA), non-registered and margin accounts, joint accounts and households, and cash and business accounts. The one account type missing from the whole list is the RDSP.
Which registered accounts does Wealthsimple offer?
Wealthsimple offers the TFSA, RRSP, spousal RRSP, FHSA, RESP, LIRA and RRIF, each self-directed or managed, and accepts spousal RRIF and LIF transfers from other institutions.
TFSA
Growth and withdrawals are tax-free, and the 2026 dollar limit is $7,000. Wealthsimple’s TFSA page is explicit that you are the sole owner: there are no joint or spousal TFSAs. See the Wealthsimple TFSA guide for room, transfers and withdrawals.
RRSP and spousal RRSP
Contributions reduce your taxable income, up to 18% of last year’s earned income to a 2026 maximum of $33,810, minus any pension adjustment. A spousal RRSP lets the higher-earning partner contribute to an account owned by the other, which helps when incomes differ. The Wealthsimple RRSP guide covers the details.
FHSA
First-time buyers can put in $8,000 a year, up to $40,000 over their lifetime, with a deduction on the way in and tax-free qualifying withdrawals. The Wealthsimple FHSA guide explains transfers from an RRSP.
RESP
A Wealthsimple RESP is available as a self-directed or managed RESP, and Wealthsimple publishes plan terms for both family and individual RESPs. The federal grant adds 20% of contributions, up to $500 a year and $7,200 per child. One transfer quirk: individual RESPs transfer into a managed Wealthsimple RESP, and RESP transfers average 6–8 weeks. The full breakdown is in the Wealthsimple RESP guide.
RRIF
A RRIF turns RRSP savings into income. Per Wealthsimple’s RRIF page, you must convert an RRSP into a RRIF (or an annuity, or cash it out) by December 31 of the year you turn 71, and take a minimum withdrawal every year after that. Wealthsimple’s RRIF page notes you can base the minimum on a younger spouse’s age, and that RRIF withdrawals from age 65 count as eligible pension income for income splitting. Spousal RRIFs can be transferred in.
Does Wealthsimple have LIRA accounts?
Yes: Wealthsimple offers a LIRA, self-directed or managed, and accepts LIRA, LIF and pension-plan transfers from other institutions.
That makes the old claim that Wealthsimple doesn’t support locked-in accounts, which an earlier version of this guide repeated, out of date.
A LIRA holds pension money after you leave an employer. You can’t add new contributions, but the money keeps growing tax-sheltered until retirement. At Wealthsimple a LIRA is available (self-directed and managed), which answers the “Wealthsimple LIRA self-directed” question: you can buy individual stocks and ETFs for $0 commission, or use Automated Investing for 0.25%, capped at $250 per account per year.
Wealthsimple LIRA transfer
You start the transfer inside Wealthsimple, not at your current institution: in the app, choose Move an account to Wealthsimple and follow the prompts. Wealthsimple’s LIRA page says the transfer needs no paperwork or bank visit. Its transfer timelines show LIRA and LIF transfers averaging 2–4 weeks, and transfers straight from an employer pension plan 2–6 weeks. When the transfer is large enough, the old institution’s exit fee is covered: reimbursed on transfers of $25,000 or more, up to $150 per account. The steps are in how a transfer to Wealthsimple works.
LIRA withdrawal and unlocking
Wealthsimple’s LIRA page says you can access the money once you retire, which can be as early as 55. You must convert the LIRA to a life income fund (LIF) by December 31 of the year you turn 71. Early withdrawals are rare and tied to situations such as shortened life expectancy, loss of income or becoming a non-resident. The unlocking rules, including how much you can take and when, come from the pension law that governs your plan, whether federal or provincial, not from Wealthsimple. Check them before you count on unlocking any of it.
One limitation: a LIRA can’t back Wealthsimple’s portfolio line of credit. By comparison, Interactive Brokers Canada offers no locked-in plans (such as a LIRA) and no annuities, so not every low-cost broker can hold one; at Wealthsimple a LIRA sits in the same app as your TFSA and RRSP.
What is a Wealthsimple non-registered account?
A Wealthsimple non-registered account is a taxable investing account with no contribution limit, available individually or jointly, and self-directed or managed.
It’s the overflow account once your registered room is full. Wealthsimple’s non-registered page says there’s no cap on how much you save and no contribution limits or carry-over rules, but realized gains and income are taxed every year, unlike in a TFSA. Self-directed trades cost $0 in commission on Canadian and US stocks and ETFs, and Automated Investing, which Wealthsimple builds for self-directed investors who know what they want to own, works on non-registered accounts for 0.25%, capped at $250 per account per year. A joint version is available to a spouse or common-law partner, covered in the joint accounts section below.
Margin account
A margin account is a non-registered account that lets you borrow against your investments. Margin is available by application; as of Sept 18, 2026 prime is 4.45% (CAD) — Core pays prime + 0.5%, Premium prime + 0%, Generation prime − 0.5%, which works out to 4.95% on CAD borrowing for Core clients. Details are in the Wealthsimple margin account guide.
Borrowing against a non-registered account
Wealthsimple’s portfolio line of credit is a separate way to borrow, and it accepts up to 5 non-registered accounts or TFSAs (not margin accounts, FHSAs, RRSPs, RESPs, LIRAs or joint accounts). An individual cash account can back it, while a joint account or a margin account can’t.
USD in a non-registered account
If you buy US stocks often, a USD account costs $10 a month for Core clients; free for Premium and Generation. The Wealthsimple USD account guide explains what it costs and when it pays off.
Does Wealthsimple have joint accounts?
Yes: Wealthsimple offers joint chequing and joint non-registered investing accounts, but no joint TFSA, RRSP, FHSA or LIRA, because those registered accounts always have a single holder.
Wealthsimple’s Households page also groups the RRSP, RESP and RRIF with its joint accounts. Tax rules don’t allow a jointly owned RRSP or RRIF, so the couple versions of those accounts are the spousal RRSP and spousal RRIF, while CRA rules let spouses or common-law partners be joint original subscribers on an RESP. Wealthsimple’s public RESP page doesn’t say whether it accepts two subscribers on one plan, so confirm in the app if you want both parents named on it.
Joint chequing (the “Wealthsimple Cash joint account”)
Many people still search for a Wealthsimple Cash joint account; the product is now the joint chequing account. You open it from the app by choosing to open chequing for “You and someone else”, and the other person accepts an email invitation. Per Wealthsimple’s help centre, both holders have the same permissions: each can see transactions, deposit and withdraw. The card rules: one card per individual chequing account; on a joint account each holder gets their own card, with an optional physical version.
Joint chequing earns the same interest as an individual account, 1.25% on Core, and all deposits into it count toward the net-deposit requirements for Premium and Generation. Wealthsimple’s chequing page says the CDIC arrangement applies to personal individual and joint chequing accounts: up to $1 million, because funds are spread across up to 10 CDIC member institutions (Wealthsimple itself is not a CDIC member). On ownership, Wealthsimple’s help centre says joint chequing accounts are held with right of survivorship in every province except Quebec, where they are held as tenants in common.
Joint trading account
A joint non-registered account can be self-directed through Wealthsimple Trade or managed. Wealthsimple’s non-registered page offers it to a spouse or common-law partner, its transfer table accepts joint non-registered accounts from other brokers into either type, and its Automated Investing feature works on joint non-registered accounts too. Trades cost $0 in commission on Canadian and US stocks and ETFs.
Two limits apply. Joint accounts can’t back Wealthsimple’s portfolio line of credit, as the collateral list above shows. And gains in a joint account are taxable, so the usual reason to use one is shared money that has outgrown both partners’ TFSA and RRSP room.
Joint savings account
Wealthsimple’s Savings account pays 2.5% (available to every client, no tiers), but its public page doesn’t mention a joint version, so confirm in the app before planning around one. For a shared emergency fund, joint chequing is the account Wealthsimple documents for two owners.
Wealthsimple household vs joint account: what’s the difference?
A joint account is one account that two people own and both control; a household is a shared dashboard that leaves ownership alone but pools assets toward Wealthsimple’s client tiers.
| Feature | Joint account | Household |
|---|---|---|
| What it is | One account owned by two people | A shared view of each member's own and joint accounts |
| Who can move the money | Both holders can deposit, withdraw and see transactions | Only each account's owner; others see balances you choose to share |
| Which accounts | Chequing and non-registered investing | Any Wealthsimple account you share, plus outside accounts, property and debts you add |
| Who can join | You and someone else, chosen when you open it | Wealthsimple clients who share a residential address |
| Effect on Premium and Generation | Deposits into joint chequing count toward Premium and Generation | Combined assets count toward Premium ($100,000) and Generation ($500,000) (better on this row) |
| Cards | Each holder gets their own card on joint chequing | No card: it's a view, not an account |
| Ownership | Joint chequing passes to the survivor outside Quebec; tenants in common in Quebec | Doesn't change who owns any account |
Sources: wealthsimple.com/en-ca/households; Wealthsimple help centre article on opening a chequing account; wealthsimple.com/en-ca/pricing. Checked September 24, 2026.
Wealthsimple’s own Households FAQ draws the same line. A joint account is owned by multiple people, and both can make transactions in it, which suits shared spending or a shared savings goal. A household puts your individual and joint accounts side by side so you can see the whole picture. Anyone can start one with another Wealthsimple client who shares their residential address, whether that’s a partner or a roommate.
In a household, each person decides which accounts to share and can unshare them at any time. The other member sees balances on shared accounts, but can’t move your money or view your transaction history. You can also add accounts from other banks, a home or car, and debts like a mortgage, so the household shows a net worth rather than just what sits at Wealthsimple. Spending from chequing and credit card accounts is pulled into one view as well.
The part that affects your wallet: Wealthsimple says that when you join a household, your combined assets count toward a client plan. Premium starts at $100,000 and Generation at $500,000, so two people who each fall short can qualify together.
Here is the detail that matters most for couples. TFSAs, RRSPs, FHSAs and LIRAs are always in one person’s name, so none of them can be a joint account. A household is therefore the only way to count both partners’ TFSAs, RRSPs, FHSAs and LIRAs toward the same tier. You don’t have to choose: Wealthsimple itself says most households will want both.
Two household features are still on the way. The Households page lists authorized trading, investing on behalf of a loved one, as coming soon, and a separate page says kids and teens accounts, with a card of their own, arrive in fall 2026.
How much can a household save by reaching Premium?
In the example below, two partners who pass the Premium threshold together save a few hundred dollars a year in interest and fees, depending on how they use Wealthsimple.
Take a couple with $60,000 and $45,000 at Wealthsimple. Each is on Core alone, since Core starts at $1 in assets. Together they hold $105,000, which is over the $100,000 Premium line once they join a household. Assume they keep $15,000 in joint chequing, have $50,000 in managed portfolios and each hold a USD account.
| Feature | Separate (Core) | Household (Premium) |
|---|---|---|
| Chequing interest rate | 1.25% | 1.75% (better on this row) |
| Managed investing fee | 0.50% a year | 0.40% a year (better on this row) |
| USD account | $10 a month | Free (better on this row) |
Rates from wealthsimple.com/en-ca/pricing and Wealthsimple's crypto and Households pages, checked September 24, 2026. Dollar results in the text below are calculated, not quoted, and ignore the direct-deposit interest boost.
- Chequing interest: at 1.25% the chequing balance earns $187.50 a year; at 1.75% it earns $262.50, or $75 more.
- Managed fee: 0.50% a year on the managed money costs $250 a year; 0.40% a year costs $200, saving $50.
- USD accounts: A USD account costs $10 a month for Core clients; free for Premium and Generation, so two Core USD accounts cost $240 a year, and nothing on Premium.
Total: about $365 a year in this example, just from joining a household in the app. Your number depends on how much you keep in chequing, how much is managed and whether you use USD accounts at all.
One exception: the Wealthsimple Visa Infinite+ fee is $240 a year ($20/month), waived with $100,000+ in individual assets or $4,000+/month direct deposit. That waiver is written in terms of individual assets, so don’t count on a household to remove the card fee. The trade-offs of the higher tiers are covered in Wealthsimple Premium vs Generation: is upgrading worth it?.
Which cash accounts does Wealthsimple offer?
Wealthsimple offers a chequing account, a Savings account and USD savings, and chequing is the only one of the three with a documented joint version.
- Chequing: interest of 1.25% on Core, 1.75% on Premium and 2.25% on Generation, with CDIC eligibility up to $1 million, because funds are spread across up to 10 CDIC member institutions (Wealthsimple itself is not a CDIC member). The card is a Visa Platinum Prepaid card (digital and physical), linked to your Wealthsimple Chequing account; fees and limits are in the Wealthsimple Cash Card review.
- Savings and USD savings: the Savings account pays 2.5% (available to every client, no tiers); USD savings pays 2.5% Core, 3% Premium, 3.5% Generation by plan. The Wealthsimple Savings account guide compares them with chequing.
Does Wealthsimple offer business accounts?
Yes, for incorporated businesses: Wealthsimple Business offers business chequing, business investing and group savings plans, but it doesn’t open accounts for sole proprietorships or other non-incorporated businesses.
Who can open a Wealthsimple business account
Wealthsimple’s business chequing page lists the conditions. The business must be registered in Canada and be a Canadian-controlled private corporation or a charity or association registered with the CRA. It also needs a single layer of ownership, a nine-digit federal business number, and it can’t be a financial institution or a condo corporation. People you authorize during setup get full access to the business accounts, and one login covers both your business and personal accounts.
Wealthsimple business chequing account
Business chequing has no monthly account fee and no minimum balance. Its interest is tied to your combined personal and business assets, from 1.25% under the Premium threshold to 2.25% at Generation. You can pay corporate income tax, GST/HST and payroll remittances to the CRA from the account at no charge, and connect QuickBooks or Wave. Deposit protection works differently from personal chequing: personal accounts get up to $1 million, because funds are spread across up to 10 CDIC member institutions (Wealthsimple itself is not a CDIC member), while Wealthsimple’s business page describes CDIC coverage per business entity, shared across savings and chequing. Check that limit before parking large corporate cash balances.
Wealthsimple business trading account
Business investing offers self-directed trading at $0 commission on stocks and ETFs, with margin and options you can enable for the corporation. The managed Classic portfolios charge 0.50% a year, dropping to 0.40% a year at $100,000. Business account transfers from another broker average 2–4 weeks.
Wealthsimple business card
The card is a prepaid business Visa tied to the business chequing account. Wealthsimple says it pays cash back and charges no FX fees, with no application or wait. There’s no business credit card on the business pages YieldMaple checked; Wealthsimple’s credit card, a Visa Infinite+ or Visa Infinite Privilege that pays 2% on every purchase, is a personal card. Details are in the Wealthsimple credit card review.
Note one protection gap: Wealthsimple’s Account Guarantee, which reimburses losses from unauthorized transactions if you use passkeys and meet its security terms, covers personal individual and joint accounts but excludes corporate accounts.
Can you name a beneficiary on a Wealthsimple account?
For registered accounts, generally yes where your province allows it, but Wealthsimple’s public product pages don’t explain how to record a beneficiary or successor holder.
The rules come from tax and provincial law. The CRA’s TFSA guide describes a successor holder: a spouse or common-law partner named on the TFSA who takes over the account, and the right is effective only where provincial or territorial law recognizes it. Other people, such as children or a former spouse, can be named as designated beneficiaries and receive the account’s value. For joint chequing, survivorship follows the ownership rules in the joint section above. Check the beneficiary settings for each account in the Wealthsimple app, or ask Wealthsimple directly, rather than assuming a designation is in place.
Does Wealthsimple offer an RDSP?
No: the RDSP isn’t on Wealthsimple’s accounts page or among its published registered-plan documents as of September 24, 2026, so it has to be held elsewhere.
Families who need a Registered Disability Savings Plan have options at other institutions. TD Direct Investing’s account types are TFSA, FHSA, RRSP, cash, margin, RESP, LIRA, RIF, LIF and RDSP, in individual, joint or corporate ownership, and Justwealth, a robo-advisor, offers managed RDSPs; its minimum account size is $5,000 (no minimum for RESPs, FHSAs and RDSPs). Keeping the RDSP at one of them doesn’t stop you from running your TFSA, RESP or chequing at Wealthsimple; the Wealthsimple vs TD comparison covers the self-directed trade-offs.
Which Wealthsimple account types fit you?
Match each account type to a job: registered accounts for tax room, non-registered for overflow, joint accounts for money you share, and a household for tier perks.
Open registered accounts if:
- You have unused TFSA, RRSP or FHSA room; each partner opens their own, since none of them can be joint
- You have a child’s education to fund (RESP) or pension money from a former employer (LIRA)
Open a non-registered account if:
- Your registered room is full and you still have money to invest
- You want to borrow against your holdings (margin)
Set up a household if:
- Your combined assets pass $100,000 but neither of you does alone
- You want one view of both partners’ accounts without handing over control
Open a joint account if:
- You pay rent, bills or groceries from a shared pot (joint chequing)
- You invest taxable money together after filling your TFSAs and RRSPs (joint non-registered)
Open business accounts if you run an incorporated company and want corporate cash to earn interest and be invested, under the same login as your personal accounts.
Look elsewhere if you need an RDSP, or your business is a sole proprietorship or partnership.
This is general education, not financial advice. The right mix depends on your income, your province and how you and your partner handle money.
Who should look beyond Wealthsimple
Wealthsimple covers the accounts most households need, but a few situations point to another institution:
- You need an RDSP. Wealthsimple has none; TD Direct Investing and Justwealth offer one.
- Your business isn’t incorporated, or you need a trust or estate account. Wealthsimple Business needs a Canadian-controlled private corporation or a CRA-registered charity or association. Trust and estate accounts aren’t on Wealthsimple’s account lists either. Questrade’s account types are TFSA, RRSP, spousal RRSP, FHSA, RESP (individual and family), LIRA, locked-in RRSP, LIF, RRIF, cash and margin (individual and joint), corporate, trust, estate, partnership, sole proprietorship, and Forex & CFD accounts.
- You want to transfer an individual RESP and keep it self-directed. Wealthsimple moves transferred individual RESPs into a managed RESP.
- You want to borrow against a joint account or a LIRA. Neither can back Wealthsimple’s portfolio line of credit.
For everyone else, the practical setup is simple: each partner keeps their own TFSA, RRSP and FHSA, shared spending runs through joint chequing, and a household ties it together toward Premium. If you’re weighing Questrade for the trust, estate or sole-proprietorship accounts it offers, the side-by-side is in Wealthsimple vs Questrade, and every product is reviewed in our complete Wealthsimple guide.