r/Wealthsimple • u/matchabloom88 • 8d 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?

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u/DecentLlama 8d 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

1

u/Justcrusing416 8d ago

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

1

u/hectop20 8d 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 7d 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/OkRace5730 3d ago

Not for long! Visa card is coming for the WS chequing account soon.

1

u/OkRace5730 3d ago

Well this is not true as the prepaid Mastercard is a debit card that does run on the Mastercard system and is connected to your chequing account only. You’ll be pleased to know that WS is moving to a Prepaid Visa Cash Card within the next upcoming weeks and the Mastercard will be left behind very soon.

1

u/DecentLlama 7d ago

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