What is the boosted 4% spend reward promotion?
The boosted 4% spend rewards is a promotion for Cash clients who tap their virtual or physical Cash card at PRESTO contactless machines to pay for a single trip adult fare. Clients who make an eligible transaction will earn 4% back on their fare payment, instead of the base 1% back offered on other everyday purchases.
Any payments made on the Cash card for other PRESTO transactions such as PRESTO card reloads, purchasing a PRESTO card, or purchasing a PRESTO e-Ticket are not eligible for the boosted 4% spend reward promotion, but may continue to be eligible for 1% back.
The boosted 4% spend reward promotion for eligible PRESTO transactions begins at 12:01am ET on September 6, 2023 and will run until 11:59pm ET on December 31, 2023.
Who is eligible for this promotion?
To qualify for boosted 4% spending rewards, you must be:
- A new or existing Wealthsimple Cash client with all Wealthsimple accounts in good standing at the time of participating in this promotion
- A legal resident of Canada
- The age of majority, or older, in their province/territory of residence at the time of participation
- Meet the requirements set out below
What transactions are eligible for the promotion?
- Successful adult fare payment at a PRESTO contactless machine that was paid by tapping your virtual or physical Cash card during the promotion period, and
- The PRESTO contactless fare payment is made at a participating municipal transit system (GO Transit, UP Express, Toronto Transit, Brampton Transit, Burlington Transit, Durham Region Transit, Hamilton Street Railway, MiWay in Mississauga, Oakville Transit, York Region Transit, and Para Transpo in Ottawa)
Is there a limit on the amount of qualifying 4% back transactions?
No, there’s no limit on how many times you can tap and earn 4% during the promotion period. However, we may suspend or deactivate your Card and/or decline a transaction at any time if we suspect illegal activity or fraud (such as sharing a single Cash card with multiple people).
Why do I see a different amount charged after tapping instead of the fare amount?
This is a temporary pre-authorization charge from PRESTO that occurs as soon as your card is tapped and will settle to the full fare amount within a few business days. For more details, visit the PRESTO website here.
How do I open up a Cash account?
- Make sure you're on the latest version of the app
- Tap Cash tab (Card icon) at the bottom of your screen
- Follow the prompts to open your Cash account
- Start sending and spending funds from your Cash account
Terms & Conditions
Transit Boosted Spend Rewards Promotion (the “Promotion”)
Promotion Period. From September 06, 2023 at 12:01AM ET to December 31, 2023 at 11:59PM ET (the “Promotion Period”).
Eligibility. To be eligible for the Promotion, the person must:
- be a new or existing Wealthsimple Cash account user, with all Wealthsimple accounts in good standing at the time of participation;
- be a legal resident of Canada;
- be the age of majority, or older, in their province/territory of residence at the time of participation; and
- meet the requirements set out below. (the “Client”)
Qualifying Transaction. To participate in the Promotion, eligible Clients must pay for their adult transportation fare by tapping their virtual or physical Wealthsimple Cash card on a participating contactless PRESTO fare payment machine during the Promotion Period (a “Qualifying Transaction”). Exclude all other PRESTO transactions types and other non-fare payments, including but not limited to purchase of monthly passes, PRESTO card, and reload card balance.
There are no fees associated with the creation of a Wealthsimple Cash account. Clients may open a Wealthsimple Cash account by visiting https://www.wealthsimple.com/en-ca and following the instructions on how to create an account.
Participating Transit System. The following is a list of participating municipal transit systems:
- GO Transit;
- UP Express;
- Toronto Transit;
- Brampton Transit;
- Burlington Transit;
- Durham Region Transit;
- Hamilton Street Railway;
- MiWay in Mississauga;
- Oakville Transit;
- York Region Transit; and
- Para Transpo.
Bonus Multiplier. The 4% back amount (the “Bonus Multiplier”) is applied based on the net fare in a Qualifying Transaction (less cancellations or refunds) during the Promotion Period and payout will occur within 7 business days after the Qualifying Transaction. The 4% back earn rate may be subject to change at Wealthsimple’s sole discretion.
Application of Bonus. All Wealthsimple account(s) must be in good standing at the time the Bonus cashback is applied. This Bonus Multiplier is non-transferrable and cannot be applied retroactively. The Bonus remains subject to change, at our sole discretion. All Wealthsimple account(s) must be in good standing at the time the Bonus is applied.
Release. By participating in the promotion, Client assumes all risk of injury, illness, disease, death, or any other damage which may arise in connection with their participation in the Promotion. Without limiting the foregoing, client hereby: (a) forever releases and discharges Wealthsimple and its parent companies, subsidiaries, affiliates, related and associated entities and employees, directors, officers, suppliers, agents, sponsors and administrators of each (collectively, the “Releasees”), from and against any and all claims, actions, costs, liabilities, judgments, damages, obligations, losses, penalties, and expenses of any kind or nature whatsoever (including legal fees) (collectively, the “Claims”) in any way arising directly or indirectly out of any injury, loss, or damage that Client may suffer as a result of, or in connection with the participation in the Promotion or any promotion-related activity, including the posting of the Bonus in their Wealthsimple Account and subsequent use of the Bonus; and (b) indemnifies, defends and holds harmless the Releasees from and against any and all damages, loss and expenses, including legal fees, which may be suffered directly or indirectly by reason of the Client’s own negligence or willful misconduct during or in connection with the participation in the Promotion.
This promotion is sponsored by Wealthsimple Technologies Inc. (“Wealthsimple”). Wealthsimple reserves the right to amend, withdraw or restrict the promotion at any time without notice. Wealthsimple is the sole arbiter of these rules and any other issue arising under the promotion. If Wealthsimple suspects fraudulent or abusive behaviour, gaming of the system, inappropriate, offensive or derogatory language or information or a violation of these terms, Wealthsimple reserves the right to remove all promotions from the Wealthsimple account(s) and take any other action it deems appropriate including, but not limited to, removing the rewards earned during this Promotion or closing the Wealthsimple account(s). This Promotion cannot be used in conjunction with any other promotional offer, unless specified herein. An invitation to participate in this promotion does not provide assurance that you will be accepted as a customer of Wealthsimple. This offer is only valid for individuals in the location cited above that otherwise meet our eligibility requirements. Our standard terms (https://www.wealthsimple.com/en-ca/legal/terms) relating to your use of Wealthsimple and any agreements that apply to your Wealthsimple account(s) each apply and are not affected in any way by this offer.