Fintech Wealthsimple is offering a whole new suite of rewards to compete with the major banks. If you’ve got $200,000 or more in assets with Wealthsimple, you can now choose from some exciting perks, like a free Strava Premium membership, airport lounge access, and a 20% discount for specialists on Maple. You’ll get to pick a new reward for every $100,000 you have, up to three rewards total when you hit $400,000. In the past, rewards felt like an exclusive club, accessible only through shiny, hard-to-get credit cards from big banks. Now, alternative banks with easier entry points are democratizing that experience by offering their own programs. For example, Simplii Financial credit cards provide a $250 transit voucher, while the Tangerine World Mastercard also includes airport lounge access. Although big banks still hold a strong position, they might start feeling the heat. Smaller banks are making customers happier by offering similar products with lower fees, and now they are catching up with rewards that people actually want.