Tangerine is a digital bank that offers online banking services with no fees and high-interest savings accounts.
Best Wealthsimple Cash Alternatives ranked by AI · updated May 2025
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Wealthsimple Cash is a hybrid savings and spending account offering high-interest rates and no account fees.
Price: Free
Top 4 Wealthsimple Cash alternatives
KOHO is a Canadian financial app with a prepaid Mastercard, spending account, savings tools, cashback, and optional credit-building features. It is designed...
Pros
- Combines spending, savings, cashback, and credit-building tools in one app
- Usually easier to access than a traditional unsecured credit card
- Provides budgeting and automated savings features suited to everyday spending
Cons
- Paid plans can reduce the value of rewards for light users
- Not a full-service bank with branches, mortgages, or a broad lending lineup
- Cashback and account benefits vary by plan and eligible purchase
Freemium, paid plans from $9/mo
3
EQ Bank is an online bank that offers high-interest savings accounts and competitive rates on GICs.
Pros
- High-interest savings accounts
- Competitive GIC rates
Cons
- Limited physical branches
- No credit cards
Simplii Financial is an online bank that offers no-fee daily banking and high-interest savings accounts.
Pros
- No-fee daily banking
- High-interest savings accounts
Cons
- Limited physical branches
- Limited product offerings
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