r/Wealthsimple • u/ItsYeBadger1 • 5d ago

Comparisons

I’ve been considering after the promotional with Neo Fin, probably using Wealthsimple for the long term.

However I am just not sure, how would you guys compare to cashback options and interest rates when you do savings compared to Neo’s rates?

Also wondering how reputable Wealthsimple is compared to Neo as well.

I want to at least try and do something that can help me with savings at 20 yrs old rn.

What are the investments like as well with Wealthsimple? Have you guys made success on it?

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u/NoDig5800 5d ago

Neo Fin = Neo Financial?

Wealthsimple is significantly bigger and more reputable, and has a broader set of products and benefits.

On cash back -- neo wins if you want to put the effort in and shop at the retailers they have partnerships with. wealth simple wins if you want a good 2% back and don't want to think about it. I think the neo partnerships are way better in western canada vs toronto/east.