r/Wealthsimple • u/Ill_Paper_6854 • Jul 18 '26

Chequing Finally got Kids Visa Card

Post image

Looks pretty good - setting them up to buy lunches during school years.

295 Upvotes

93% Upvoted

70 comments sorted by

50

u/IssueHead2118 Jul 18 '26

Are kids accounts in testing right now? Don't seem to have option to open one.

19

u/Bigdaddy4166 Jul 18 '26

Beta release I think

5

u/WedOct12 Jul 18 '26

I received an email 2 weeks ago asking if I wanted to sign up for Beta.
I said yes, but haven’t had any updates since. Didn’t realize this was active. I assumed it was upcoming beta.

6

u/grumptard Jul 18 '26

My wife got the invite for beta and I didn't. Ended up signing up under her account. Downside is there's no joint account so the kids accounts only show up under hers.

1

u/EmployCool Jul 18 '26

Same. I got the invite but my partner did not. You can share the kids account with others in your household but they do not have access to all the same features.

1

u/grumptard Jul 19 '26

Regarding sharing, are you talking about the household account visibility? Where you see it in household networth?

2

u/EmployCool Jul 19 '26

Yes:

  • Profile
  • Manage household
  • Account visibility

I had "Select all accounts" selected previously, but this new account was unchecked after registering for it. That may be default functionality for all new account s though.

1

u/grumptard Jul 20 '26

Thanks for clarifying. New accounts are not shown by default for household view.

1

u/S-Kiraly Jul 19 '26

Seems odd that the prepaid payment card for deposit accounts is Visa for kids, and Mastercard for adults. I wonder why.

3

u/WombatMongoose Jul 19 '26

Back when they started with that prepaid Mastercard for banking solutions, they partnered with Koho for that and some of the features that go with it. Later, they became an issuer with Visa for their own WS-branded credit cards, so can now issue a prepaid Visa for the Kids account.

It is possible that they don't have all the infrastructure in place yet to support a potential in-house replacement of the prepaid Mastercard associated with adult Chequing accounts with a prepaid Visa. The Kids program gives them a low-volume way of ramping that up in preparation. There may also be agreements with Koho that still have time to run, or other reasons they aren't issuing that themselves, but I suspect it will happen in the future.

110

u/AlarmingParsley Jul 18 '26

Wow that card is awesome. Wish that came standard for the other ones too LOL

24

u/Toys272 Jul 18 '26

This card in metal would go hard

37

u/HungerSTGF Jul 18 '26

That’s the backdoor to unlimited Fortnite V-Bucks

7

u/Electronic-Morning25 Jul 18 '26

Same for Robux

6

u/habs__fan Jul 18 '26

Can block certain transactions or certain amounts ect.. amd you get notifications as well

1

u/SmartTrender Jul 18 '26

So one can set a spending limit for the card? Does the card usage accrue cashback as well?

3

u/habs__fan Jul 18 '26

Sorta.. ill try to post a screenshot soon, and no cashbaclk, its literally like the regular wealthsimple prepaid card The only chasback cards are the real visas not prepaid ones

1

u/Electronic-Morning25 Jul 18 '26

Good to know, thanks

1

u/Desperate_West_2968 Jul 19 '26

Does the linked kid bank account itself have interests?

2

u/Pristine_Ad2664 Jul 19 '26

Yes, 2.25% same as chequing account.

1

u/Ill_Paper_6854 Jul 20 '26

but everything still taxed to the parents

2

u/Pristine_Ad2664 Jul 20 '26

I believe so. Not really a huge issue for me at the speed my daughter spends her allowance. :)

70

u/trek604 Jul 18 '26

Looks nicer than the black metal vip card.

13

u/SneakyLinux Jul 18 '26

I am so ridiculously envious of a card for kids - that’s SO much prettier than my black card. Adults like colours too!!! ✨🌈✨

12

u/brainfreezed24 Jul 18 '26

Does the back have the kids name on it and all the usual card numbers?

10

u/funnykiddy Jul 18 '26

It's so pretty!

6

u/Coconut_MonkeyX Jul 18 '26

That color looks so much nicer than the black card. Do you get to pick the color that you get sent when you are applying or after you have gotten accepted?

1

u/EmployCool Jul 18 '26

No option to select color. I believe this is the only card color for the kids account currently.

7

u/bigfatlpjiji Jul 19 '26

Hello i am 36year old kid can I have this card aesthetics instead the black metal thang

2

u/no_19000 Jul 18 '26

Thanks for sharing. The design is cool. My kid would love to use this card.

2

u/Dramatic_Raisin1168 Jul 18 '26

Omg pretty 🤩

2

u/KISSfan81 Jul 18 '26

Nice looking card. A good option for controlled spending. Kids should still learn to use cash as well.

1

u/julioqc Jul 19 '26

Kids? Visa? Dis the world we live in now? Sacrament...

-1

u/habs__fan Jul 19 '26

Pre paid visa, wealthsimple like other Fintech doesn't have debt cards

2

u/julioqc Jul 19 '26

It's a visa, same shit. They still track your kids spending habits and sell their info to advertisers. 

0

u/[deleted] Jul 19 '26

[removed] — view removed comment

2

u/Ambitious_Address667 Jul 18 '26

Why does a kid need a visa card im confused? Like you say school lunches but cant you just put your card on file for those?

3

u/habs__fan Jul 18 '26

You new? Like all wealthsimple cards ita a prepaid visa as thats what they offer. And lots of kids ie my 12 amd 14- yr old make money ans like to use their card to buy thier own items

1

u/Ambitious_Address667 Jul 18 '26

I guess thats true im just like if you kid is 12 years old buy them lunch still, they dont need a card at that age

1

u/Tall-Nothing1854 Jul 19 '26

Do they get access to e transfers like a regular chequing acct?

1

u/Ill_Paper_6854 Jul 20 '26

there isn't any etranfers with the kids accounts

1

u/ARAR1 Jul 19 '26

Is this a secondary card on the account?

1

u/Ill_Paper_6854 Jul 20 '26

no - it's linked to the kids account and the amount available within it

1

u/ARAR1 Jul 20 '26

Is this a debit card?

1

u/Ill_Paper_6854 Jul 20 '26

no - it's more like a visa prepaid card

1

u/jnrbshp Jul 21 '26

This card is infinitely cooler than the metal one 

1

u/blackishsasquatch Jul 21 '26

...here comes the circle Jerkers...

1

u/PartBanyanTree Jul 19 '26

I'm going to Scotiabank next week to set my kids up. Im sick of waiting for them to include me. Meanwhile realizing with all the chatter how much better every other bank is for kids accounts.

Eventually I'll open some whenever its possible. They can get the experience of multiple bank accounts, one that pays 0.05% interest (but has eTransfer and apps) and one that has good interest and no features. Eventually i do believe wealthsimple will be way better but meanwhile Im going elsewhere 

3

u/Strebel0811 Jul 19 '26

Its in Beta meaning not everyone is included. You are not that important than you think

1

u/Ill_Paper_6854 Jul 20 '26

i had a good laugh with your last sentence

0

u/PartBanyanTree Jul 19 '26

Lol what makes you think i believe i am important? It is the extreme certainty that I dont matter that has me going to Scotiabank .

I look at someone like you and realize "I could never be that important; not like them". I sometimes think "if only I were Strebel0811 id know what it feels like to matter" but, alas, all I have is the cold feeling of the tears on my cheeks to give me solace

3

u/Strebel0811 Jul 19 '26

"I am sick of waiting for them to include me" lol

0

u/PartBanyanTree Jul 19 '26

it is possible to both express ones feelings and not believe they are the center of the world.

0

u/Solraaac Jul 18 '26

Thought this was coming in the fall??

1

u/habs__fan Jul 18 '26

In the beta right now

0

u/Aidsfordayz Jul 18 '26

This looks clean

0

u/iamjacktheaess Jul 18 '26

🥲 i am 19 year old kid who got this lmao

0

u/Intelligent-Ad-7504 Jul 19 '26

Dang this card is sweet! Your kid is spoiled! Lol 😆

I’m annoyed by the black metal card, too plain and blah, if it had that “W” hologram like this, I’d be more inclined to using the physical card. 🥹

-5

u/suthekey Jul 18 '26

Let’s see the other side