Your business account now comes with a card that pays you back

Wealthsimple business chequing now comes with the prepaid business Visa — a card that earns 1% cashback on every business purchase, paid back into your business account, with no application, no annual fee, and no FX upcharge abroad.¹ ² If you have an opened business chequing account, your card is ready to ship. If you don't, you can open one from home in about 20 minutes.

If you run your own business, you already know the quiet math of it all. Every bill, every software subscription, every supply run — your business is paying for it. And if you’re currently swiping a personal card and reimbursing yourself later, you're doing extra accounting work and potentially leaving rewards on the table.

Until now, Wealthsimple business chequing could do almost everything except one thing: spend. You could send, receive, and move money, but there was no card to actually pay for things. The prepaid business Visa fills that gap — and it does it in a way most business cards don't.

What is the prepaid business Visa?

The prepaid business Visa is a card built into Wealthsimple business chequing that lets you spend directly from your business account and earn 1% cashback on every business purchase, paid back into that account.¹ It runs on the Visa network, activates instantly with no application or credit check, and carries no annual fee. Because it draws on your existing balance, eligibility doesn't depend on your income or how long you've been incorporated. With this card you get:

Why we built it

Business owners have basically had three ways to pay for things, and each comes with a catch.

A business credit card can earn points, but it can carry an annual fee, and getting approved means an application which typically comes with income minimums, branch visits, and time spent on hold. If you've recently incorporated, you might get denied, or approved for a limit so small it's barely worth it.

A business debit card skips the application but tends to come with no rewards and per-transaction charges. Some big banks include a handful of transactions a month, then bill you for each one after that — on top of a monthly account fee.

A personal credit card earns your own rewards, but now you're mixing business and personal spending, reimbursing yourself, and untangling it all at tax time (and hoping you sorted it correctly).

The prepaid business Visa is our answer to all three: it rewards you like a good business card, activates instantly like a debit card, and keeps business spending cleanly separate from your personal life — without the application, annual fee, or accounting headache.

How does the prepaid business Visa compare to a debit or credit card?

Here's how the three options stack up side by side:

In short: the prepaid business Visa is the only one of the three that pays you back and requires no application.

Who is the prepaid business Visa for?

It's built for any incorporated or self-employed business owner who spends on their business — but two groups feel the difference most.

If you're self-employed — a consultant, creative, or contractor — this is the card that finally separates your business spending from your personal life without adding a single step. You've probably been floating business expenses on a personal card because a "real" business card felt like more hassle than it was worth. This is the perk you've been waiting for, and it's already sitting inside your account.

If you run an incorporated practice — say you're a physician or specialist buying medical supplies, software, and professional dues — the prepaid business Visa is a clean, low-admin way to keep corporate spending corporate. It may not replace every feature of a premium corporate card, but for everyday business purchases that should just be simple, it works, right where the rest of your money already lives.

Either way, the appeal is the same: your business spending, rewarded and organized, with nothing extra to manage.

Does it make tax time easier?

Yes, if you’ve been putting business expenses on your personal card. When your business spending is on a dedicated business card, your expenses are way cleaner to track and account for. No more combing through a personal statement trying to remember which dinner was a client and which was your own. Everything business lives in one place, which means less manual work for you (or your accountant) and a cleaner trail when it counts.

It's the same idea behind everything we build: you can have everything in one place, but each account and card serves a distinct purpose.

How do you get the prepaid business Visa?

If you already have a Wealthsimple business chequing account, your card is ready in just a few simple steps outlined here.

Don't have a business account yet? You can open Wealthsimple business chequing from home in as little as 20 minutes⁵ — no monthly fees, no minimums, and up to 2.25% interest on your balance⁴ — then grab your card the moment you're set up.

Your business spending has been working for everyone but you. Time to change that.

Disclaimers

Data collected as of June 26, 2026. As compared to the posted FX conversion fees charged to clients on basic Business Chequing accounts from the five Biggest Banks in Canada. ​

The Wealthsimple Business Visa* Prepaid card is issued under license by WSP.

*Trademark of Visa Int., used under license.