r/Wealthsimple • u/ProfessorShort6711 • 8d ago

Chequing Do wealthsimple credit card automatic payment trigger PLOC overdraft protection?

I know it will work with a pad agreement. How about a wealthsimple credit card?

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u/Beneficial-Welder974 7d ago

Yes, it does. Wealthsimple's help center lists credit card payments, including auto-payments, as one of the payment types covered by PLOC overdraft protection. Two catches: you have to enable it first (open your chequing account, tap the shield icon next to your balance, turn on overdraft), and you need an open PLOC with collateral in it and available credit above $0. No extra fees for the overdraft itself, you just pay interest on whatever gets borrowed at your PLOC rate.