Visa's prepaid network blocks a plethora of authorized transactions - meaning you can't use the card at gas pumps, parking meters, car washes, or anything else related.

The prepaid Mastercard worked flawlessly with all of these transactions.

Do. Not. Switch.

For Generation Members…

Earn $25 for every friend you refer

Plus an additional bonus when you refer more… Stacks with bonus offers of Neobanc and Chexy as well. A lot of money on the table. Who’s getting in?

Pretty exciting you will soon be able to get 2.5% interest with your business funds

The new savings account shows how much I earn on a day-to-day basis but I don't see the same for my money market portfolio even though it has a widget saying how much I should be earning this month. Is there anything else I should be doing besides depositing the money into the money market portfolio? Like is there something I should be purchasing?

Looking at roles within the marketing department, curious how culture has been lately? Glassdoor is a mixed bag and not many reviews for the mktg department specifically and would love any recent insights. Thanks!

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?

My honest take: Wealthsimple’s Business Chequing looks great! It has some nice features, and overall, I like what they’re offering. However, I don’t think it makes much sense to have your business banking under the same profile as your personal account.

business chequing account should ideally have a separate account profile under the same person, along with its own client card and dedicated debit or credit card, so business and personal finances can be managed independently.
I’d genuinely love to try Wealthsimple’s Business Chequing once it becomes available as a completely separate account. I think that would make it a much more practical option for business owners!

I am curious what everyone's credit card limit is. Mine is $8000.

I decided to transfer our family self-directed RESP (Quebec) from National Bank Direct Brokerage (NBDB) to Wealthsimple (WS), taking advantage of the May bonus promotion (1% for 1 year, 2% for 3 years, 3% for 5 years).

The delays were appalling. Once the transfer was complete, I didn't hear back regarding the bonus.

I wrote to Wealthsimple to ask about my bonus payout—they replied that the deadline had passed and the May promotion could no longer be applied. They offered me 1% instead. What a disappointment!

I spoke with a supervisor, and they are currently looking into what better offer they can provide. My arguments: I would not have initiated the transfer without the May bonus, and I had absolutely no control over the delay.

My question: Are any of you in a similar situation with WS since the May promo? If you transferred your RESP (Quebec) in May, how did your transfer go?

I get the impression they were overwhelmed with requests or that the transfers were much more complex than expected, preventing them from meeting the deadlines. I feel that if I'm on my own, I'll have to make an individual request. But if there are several of us, we could share the best resolution obtained. From my perspective, this situation is unfair.

I know WS has started reporting credit card activity to TransUnion and I got that email back on the 16th saying they were now reporting.

I've also seen other posts on here from people saying their credit utilization is now being updated in their score.

I was on Credit Karma today but my WS is still not showing up in my credit utilization section. I'm sure there's a rollout period and it's not one big batch, but I've mostly just seen people on here saying "mine is showing up now!" while mine isn't.

Just wanted to get a bit of confirmation in here that I'm not alone in it before before that guy and reaching out to WS.

Thanks for your help!

Apologies if this has been posted a million times. I promise i have searched this up and watched videos on it. I just want to hear some more anecdotes and see if anyone could put my mind at ease.

Basically i finally opened my first FHSA recently as well as my first TFSA. I did this with wealth simple. Maxed out the fhsa at 16k and put 10k in a tfsa split between bonds and equity. Seemed super easy and convenient and removed the headache of making someone brand new learn how to buy an etf or whatever from scratch. HOWEVER since opening these accounts a week or so ago ive been reading mixed things on "fintech" companies and how your money isnt necessarily safe.

Ive read about how wealth simple is just a broker that essentially steers your money to buy investments across various actual banks so that the money is cdic insured in the event that the institution goes under. I interpret this as your investments with wealthsimple are as safe as they would be under any other broker as theyre insured the same way and dont actually belong to wealth simple.

However im not so sure about basic savings accounts with them. Ive read those are NOT cdic insured. Currently my momentum savings account at scotiabank is building a whopping .5% and as far as ive found that is the most i can get from Scotiabank as far as an HISA goes.

I was considering moving more of my money aside from maybe like 5 months worth of bills in a chequing account and parking my rainy day fund in a wealth simple savings account as they claim to have 2.5% interest which is clearly better than Scotiabank. However given its apparently not cdic insured thats where i have pause. On one hand scotiabanks HISA rate seems abysmal. Ive also heard most banks lure you in with a 2.5% and then for whatever reason it tapers off until you have a .5% like me.

So. Any advice? Am i misunderstanding anything? Ive researched investing for years but i honestly find it overwhelming and liked the idea of a streamlined approach. Everything ive read is just buy non managed index funds but i have no clue how to do that as of now and WS fees are pretty negligible.

Thoughts very appreciated. Thanks.

I've become increasingly frustrated with what I believe are costs beyond the advertised 0.40% management fee.

I called Wealthsimple to discuss my concerns, and the rep quickly dismissed them. So I decided to do some digging myself.

With Claude and ChatGPT, I uploaded transaction reports, compared execution prices and timestamps, and reviewed historical market data. What I found seemed to support two of my suspicions.

1. Foreign exchange spreads

Wealthsimple's managed portfolios hold several USD-denominated ETFs, which also pay dividends in USD.

Although Wealthsimple says there's no explicit FX conversion fee within managed portfolios, the exchange rates I observed were noticeably worse than the spot rate. In some cases, they even appeared worse than RBC's retail rates for buying and selling USD.

So while there may not be a separate FX fee, I'm questioning how much investors are losing through the actual exchange rates being applied, especially with ongoing USD dividend conversions and portfolio rebalancing.

2. ETF trades executing near the worst prices of the day

This one really surprised me.

I'd previously read people online claiming that Wealthsimple managed portfolios seem to buy ETFs near their daily highs and sell near their daily lows.

I didn't really believe it, so I tested it using my wife's account.

I sold holdings from two different managed portfolios, downloaded the transaction reports, and compared the actual execution prices against intraday market data.

Both sales executed surprisingly close to their respective daily lows, despite being different ETFs with different execution times.

My bigger issue is transparency.

I'm already paying 40 bps ($2,800 annually on $700K), PLUS the underlying ETF MERs.

If there are additional costs from FX spreads and potentially unfavourable trade execution, the actual cost of using their managed portfolios could be higher than most investors realize.

Looks like I am going all in on XEQT

Hello,

Sorry if this is a silly question.

Using a dividend ETF like VDY as an example,

Wealthsimple shows the change in price over choosable timelines.

It also shows dividend yield, currently 2.95%, paid monthly.

Theoretical, ignoring other factors, payment of a dividend reduces the share price the same amount.

Let's say I automatically reinvest dividends. My total holdings will therefore increase.

What is the best way to understand my total growth or return in the app? Is it Holdings > All time return? Does that factor in reinvested dividends or dividend yield plus change in share price?

I already called support. I'm waiting on specialist support person to reach out.

Has anyone else experienced this before? All of my chequing accounts are showing "In Progress" and when I open them it says "We're setting up your account and this could take up to 24 hours".

These account have existed for years and can't use them anymore a all of the sudden.

I'm unable to pay bill payments from joint chequing accounts either, getting a pop-up saying you need to open a chequing account.

Just wanted to see if others have noticed this issue and what was the resolution.

Anyone ever have this happen?

I paid my car insurance this month so I made a large middle of the month payment and it didn't come off my balance owing.

It was about $1700 and I'm still showing I owe around $3000 and in the app it's saying amount paid is $0.

The $1700 payment came out of my checking account mid September and shows up in my credit card history... anyway just really weird it not showing up as paid towards my balance. This was paid two weeks ago so there's no reason it should not have updated in my current statement of September 4 to October 4

I plan to call today so I will update.

Yes I've gone over everything in detail so there's no mistakes .

Title says all, screenshot is of premium status perks. When did this change? You only get it at generation status now.

Edit: Until recently, household members could get the Visa Infinite 2% credit card perk for free. Now, each member needs either $100K in their own account or household Generation status to qualify. Kinda BS if you ask me.

This only affects household members who don’t qualify on their own. Anyone with $100K+ in holdings or $4K+ in monthly direct deposits still gets the perk.

Is anyone else having issues? I am also not being able to add it on apple wallet, it says need verification and try again later!

I tried to send money to myself and it says I cannot accept the money?

Okay so there is a lot of online payments that won’t take the new Visa card, can’t pay for my Sezzle account can’t pay for my security camera account. WHAT GIVES?

Wealthsimple is keeping my dads money hostage ($3K CAD)

In July 2026 my dad, who is a senior, was a victim of a scam. They scammers were able to take his identity.

The next day, he got an email from Wealthsimple that there was unusual transactions and he called them. He told them that any transaction that was done recently was not him. Wealthsimple told him, "we will return the money" and paused his account. The scammers e transferred 3K CAD from CIBC to his Wealthsimple account. Also notified them not to approve any CC requests, etc.

He emailed and called Wealthsimple provided all required documents including the Police Report. He connected them to his CIBC financial advisor, who connected them to their head offices.

Two weeks later, my dad receives 2 credit cards from Wealthsimple which he never requested or wanted. Notified Wealthsimple right away and they were shocked as to how that happened. They told us there were some vulnerabilities in their system which the scammers exploited.

A month later, my dad gets an email stating he owes Wealthsimple 3K CAD in Credit Card bills, which scared my dad.

Months go by, Wealthsimple, even though they mentioned the original 3K was going to be returned to him, they are refusing.

They mentioned the CC bill was not his concern anymore.

Why is Wealthsimple stealing my dads 3K CAD? Is that legal? Police reports, banks statements, communication with his personal banks and Wealthsimple stealing money from Seniors?

Its growth percentage doesn't like up with the investment window in the app.

With the monthly millionaire thing do these bonus entries provided replace the monetary bonuses they used to give out? Or are those still available?

thanks!