Wise (lon:wise) launched a new Interest feature for its customers in Canada; This marks the first time a provider in the country has allowed users to earn competitive returns on balances held in multiple currencies; all in a single, unified multi-currency account. Cross-border payments fintech company known for facilitating global payments money transfers and management recently made the announcement.
Canadian persons and businesses You can now enable the option to earn returns on assets denominated in Canadian dollars, US dollars, euros and British pounds.
Once enabled, account holders have full flexibility to send payments, spend money, or exchange international currency without any restrictions, penalties, or obligation to maintain a minimum balance.
This innovation addresses long-standing frustrations for millions of Canadians who regularly deal with cross-border payments.
According to incoming data Payments CanadaThere was an increase in both personal remittances and business-related international transactions.
Traditionally, earning interest on foreign currency balances meant opening separate accounts for each currency with different banks or providers.
These setups often imposed strict minimum deposit rules, offered temporary promotional rates that expired quickly, or restricted access to funds during the earning period.
Wise’s approach completely eliminates these barriers, providing a seamless experience from one convenient platform. Eligible users can enable the Interest feature with just a few taps. Wise APPLICATION.
Once activated, they start earning market-leading rates: 2.22 percent on CAD balances, 3.14 percent on USD, 0.8 percent on EUR and 2.21 percent on GBP.
These refunds are direct funds It is currently held in a multi-currency account and customers always have full control over their money; No locking periods or withdrawal limitations apply.
Vinay LakantanProduct Manager North America Wise also emphasized the importance of the launch.
“Profiting from funds held in different currencies should not force people to juggle multiple accounts or forgo immediate access to their funds,” he explained.
“But that’s exactly what many Canadians have had to deal with. Our interest feature offers a smarter, more flexible solution, allowing customers to maximize the potential of their money while still being able to freely use it for their daily needs – all from one simple account.”
The rollout reflects WiseExpanding presence in Canada, where its active customer base grew by more than 30 percent in the fiscal year ending 2025. The company is actively strengthening its local operations to support this growth.
Earlier this year, Wise joined Payments CanadaThe Automated Clearing Payment System (ACSS) positions it to provide direct integration into the country’s core payment networks, including Lynx and the upcoming Real Time Rail system. These connections are expected to speed up transfers and further reduce costs for users sending and receiving money. Canada.
