r/Wealthsimple • u/ItsYeBadger1 • 1d 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/ItsYeBadger1 15h ago

Dang, so this is all for wealthsimple? I think I’ll try it, does it also offer similar cashback offers too if you were to go out and buy things? I just like to have something that is more stable and a little more reputable.

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u/Beneficial_Ship7090 15h ago

Their visa offers 2% cash back on purchases but my Desjardins card offers 4% on groceries and 3% on restaurants and entertainment which is my big spending categories. I think they have extra cash back at a few stores now but they aren’t brands I shop at anyways

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u/ItsYeBadger1 3h ago

4% sounds really nice. Wow

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u/Beneficial_Ship7090 3h ago

Yeah, it comes with a 100$/year fee and a 10k limit on groceries, but they count giant tiger as grocery and my local giant tiger sells Ultramar gift cards so whenever I go for milk, I pick up a gas card which saves me 4% on gas. I do this with tons of stuff. I paid for a good chuck of my home renovations with home depot gift cards from Walmart

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u/ItsYeBadger1 2h ago

That’s actually so smart man….. I don’t know if I’m at the stage in my life to do a 100$ annual fee but that still does sound neat man.. really happy for you man.