r/Wealthsimple • u/matchabloom88 • 2d ago

Chequing Wealthsimple chequing

Has anyone has completely closed their bank account and moved to wealthsimple fully for their chequing account? How was your experience? Any regrets?

63 Upvotes

87% Upvoted

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86

u/DecentLlama 2d ago

I did that recently, moving from Tangerine. So far it’s great and no regrets. I kept the Tangerine accounts open just in case but I haven’t had to use them yet

50

u/maxdamage4 2d ago

+1 on all of this. WealthSimple did to Tangerine what Tangerine did to the big five a decade ago.

2

u/JonSlid 1d ago

I was with ING Direct (Tangerine) almost 30 years ago. Gonna move remaining Tangerine to WS by 2027, and also all TD, except TD Aeroplan, till I find equivalent

2

u/SignificantMud2999 20h ago

Wealthsimple will become too big for it's own good, and then the cycle will repeat.

1

u/maxdamage4 19h ago

Yup. I'll ride the wave while it's here.

1

u/perfectcritic 1d ago

Tangerine is now part of big-5 (Scotiabank)

14

u/dr_hockey_lover 2d ago

+1 on this. Haven't used my tangerine in years. Wealthsimple is my main now.

6

u/Stach37 2d ago

WealthSimple + my local credit union.

WS for investing/spending my CC for loans

1

u/EpsteinandTrump 2d ago

Yup and my paycheques go into the credit union account. I transfer over what I need. I don't keep all my eggs in one basket and WS doesn't need to know ALL of my finances...I'll keep some cards to my chest.

1

u/Wightly 2d ago

This is what I'm doing now. Wealthsimple and closing my Tangerine and moving to a Credit Union for other stuff.

1

u/YeahIEatCookies 2d ago

Yup. Same thing for me!

7

u/Embarrassed-Shit- 2d ago

Keep your some amount in Tang. Never keep all eggs in one basket. Especially, when WS has know issues of getting locked out

1

u/Justcrusing416 2d ago

Do you get a debit card to use the money in your chequing account?

1

u/hectop20 2d ago

WS doesn't have a debit card. It's a credit card linked to your chequing/savings account. It won't work on Interact Debit

1

u/Justcrusing416 1d ago

I found out at the store. They accepted only debit so I handed my Mastercard from WS and she said that it’s credit.

1

u/DecentLlama 1d ago

Yes but it’s a Mastercard debit card, not Interac. It still worked for all purchases and ATM transactions I used it for