Wise launches no-fee Chequing Account in Canada for easier cross-border banking

To mark the launch of the Chequing Account, Wise opened its first-ever Canadian pop-up branch on September 14 at Toronto's Eaton Centre, running until October 11. (Credit: Wise)

Wise has launched a new Chequing Account in Canada tailored for residents and businesses managing multi-currency financial lives. Featuring no monthly fees, the new offering provides free domestic Interac e-Transfer options, coverage eligibility under Canada Deposit Insurance Corporation protection up to $100,000 across all held currencies, and a Group Spend feature that lets family and friends pool funds.

To mark the launch, Wise is introducing activity-based bonuses and a Double Payday promotion, which will randomly select five customers monthly over the next year to double their direct-deposited paycheque up to $5,000.

Designed to eliminate the need for separate domestic and international accounts, the consolidated offering builds on Wise's recently introduced multi-currency yield features. Customers retain access to local account details across more than 20 currencies, set up pre-authorized debits, and access mid-market exchange rates when transferring money to over 70 countries.

SOURCE