Wise has introduced an Interest feature in Canada, enabling users to earn returns on balances denominated in CAD, USD, EUR, and GBP within a single account.

This service permits participants to continue sending, spending, and converting funds internationally without any minimum balance requirements or lock-up periods. The current interest rates are 2.22% for CAD, 3.14% for USD, 0.8% for EUR, and 2.21% for GBP.

Addressing the need for efficient cross-border money management

Canada experiences substantial volumes of international payment activities annually. According to Payments Canada data, outbound remittances and cross-border commercial transactions have been increasing steadily. However, customers aiming to hold and grow their assets across multiple currencies often had to use separate accounts with different providers, each imposing minimum balance conditions that could change over time.

Wise’s Interest feature addresses this by consolidating these functions into one account, eliminating the need for managing multiple relationships or restricting access to funds. Activation of the feature can be done through the Wise app via a simple opt-in process with no penalties for withdrawing funds.

Investment and growth in the Canadian market

In its 2025 financial year, Wise reported a more than 30% increase in active customers in Canada. This period also saw Wise joining Payments Canada as a member, allowing it to apply for direct participation in Canada’s national payment systems such as ACSS, Lynx, and the upcoming Real-Time Rail.

This infrastructure access is expected to enhance processing speed and lower costs for both Canadian users and those transacting with or from Canada. Vinay Nilakantan, Wise’s Head of Product for North America, stated that this feature provides a more flexible way for customers to manage multi-currency funds while ensuring they can utilize their funds freely.

The Interest feature is currently accessible to eligible Wise personal and business customers in Canada.