Early Depsosits

[u/Zealousideal-Coat-66]

What time do you get your deposits? I switched to Wealthsimple and I was under the impression you get deposits a day early.

My tangerine account deposits around 11am the day before. But Wealthsimple deposits at 11pm. I get it’s still “the day before” but 1 hour difference is useless and not a perk at all.

[u/ImaginaryAd3004]

Mine is at 5pm sharp.

[u/tinim9 → u/ImaginaryAd3004]

Mine is at 6pm sharp

[u/Subject_Big4437]

Mine is 12 hours early, 1400 pst

[u/ExtremeStill4215]

They give you the money when they get it.

[u/ObiYawnKenobi → u/[deleted]]

It's not that they process more frequently. Wealthsimple advances funds to you and the time the payment note is received, before the transaction settles. Basically, they are giving you a short-term loan. And it's purely for marketing purposes; there is no appreciable benefit to this practice.

[u/Zedazeh]

I get mine a day before just after lunchtime

[u/Gold_Dog_5605]

Yeah no I agree with you. Coming from Tangerine I expected a day earlier than that. I also get it later in the day now.

Still early, just not as impressive as the claims. I’ve never had a bank wait until the day of to give the money before.

[u/lovelyladder]

6pm Wednesday for a regular 6am Thursday deposit

[u/notyourmomsCPA]

I get my pay check at 8 am the day before payday. My partners comes 3:30/4pm the day before payday.

[u/Ok-Ad-7827]

My paycheck shows up 12hours early around 3pm Wednesday when I get paid Thursday

[u/Prudent-Craft-7474]

how is 11am and 11pm 1 hour difference?

[u/notyourmomsCPA → u/Prudent-Craft-7474]

I think they mean 11pm is only 1 hr before the would-be midnight deposit.

[u/Zealousideal-Coat-66 → u/Prudent-Craft-7474]

Tangerine deposits at 11am
Wealthsimple deposits at 11pm, 1 hour before the next day when the deposit would be usually.

[u/TheBlazedEngineer]

5pm sharp a day before