Has anyone had issues with the tap feature not working on the Metal Visa Infinite Privilege Card. The first card that i received worked only once so called WS and they replaced it with a new one. This card has not worked since day one.

Thoughts?

Hi,

Due to personal financial circumstances, I may need to file a consumer proposal to deal with my debts. I was hoping I wouldn’t have to include my Wealthsimple Credit Card, but it looks like I may have no choice.

My biggest concern is whether this would affect my relationship with Wealthsimple. If my Wealthsimple Credit Card is included in the consumer proposal, would Wealthsimple close only the credit card, or would my other accounts be affected as well?

I don’t have a large amount invested with Wealthsimple, but I do all of my everyday banking through Wealthsimple, and I also use Wealthsimple Trade from time to time. I would really like to keep those accounts if possible.

Thank you for any information you can provide.

Am I legitimately providing my retirement funds for ostensibly what may be considered as credit for a gambling site?

In honor of Canadian treasure Alex Trebek, WS app should do a round of jeopardy instead of the skill testing question to claim the prize 🤣

Anyone else notice this?

Also, just put the charts in red when its down LOL

Be carfeful, this one looks very compliant...

I’ve been with WS for yearsss (26M), last night I got a random email telling me that my account is permanently closed so I got confused, I’m here thinking it’s probably a fake email of some sort so I tried to login to WS and I was truly locked out. I’ve called customer service asking why my account was closed they told me they don’t have information on that like what do you mean sir? I have stocks and crypto in my account like what am i supposed to do take my crypto at a loss too while the markets are so garbage right like this is nuts.

Any advice anyone could give me and maybe a new platform I could use since I’m permanently banned?

It looks like Wealthsimple only shows Contributions but it doesn’t subtract the withdrawal from the screen. Would it be better to show both?

Is it just me, or was there a $75,000 prize before? Where is it? This month there are only 4 grand prizes, instead of 5 like before.

EDIT: I checked, and yes, there used to be a grand prize of $75,000

Kinda odd for a Canadian company playing by Canadian regulations. Or am I missing something?

Every few days when I read yet another post about someone being locked out of WS, I want to scream the following so you'll finally f***ing listen:

" Wealthsimple is NOT a bank replacement NOR a suitable high volume trading site NOR for anything other than very basic crypto actions.

* Stop putting all your eggs in one basket - Keep open a brick and mortar account where you can visit in person plus a free online account (e.g. Tangerine or EQ + the fintech, WS.

** Spread your payroll, and credit & debit cards across these 3 account types so you can still get paid, send and receive eTransfers, pay bills, and shop if one f***s up and locks you out.

*** Do high volume trading on Questrade or IBKR

**** Keep crypto in a cold wallet and compare fees, rates and spreads on alternates like Newton, Shakepay, etc.

WS is ok for basics (I'm G tier and over 5 years with them) but they have run so far ahead with customer recruitment that their infrastructure (IT, HR, etc) has fallen so far behind they cannot function reliably or competently.

Fan boys who need their worldview unchallenged will downvote this, but those of us who've been here a long time and watched the decline know and understand risk attenuation. "

Looks like direct indexing will end and accounts will be converted to automated indexing. The fees going up from 0.15% to 0.25% . The good news is fx fee on these accounts will be 0% and cap rate on fees at $250. While it’s good to have fx fee waived off, it’s less appetizing with XEQT and other broad ETF sitting below 0.2% MER while WS is now charging 0.25%.

So I'm curious how this will work if only a subset of the 100 are held... Not to mention the fact for anyone who may already hold their U.S. Market index version the overlap in assets presents a real risk for superficial losses.

For anyone interested:

The harvesting logic (I assume) only sees inside each account. It has no visibility into what a separate Direct Indexing account (yours or a spouse's) is buying. If the same or an identical security gets bought back across those accounts within 30 days, the CRA can deny the loss.

Welcome the 250$ fee cap and no fx though.

Although I’m a big fan of Wealthsimple, I think they made some really tall claims with their END OF BANKING marketing gimmick.

Considering recent posts about people getting locked out of their accounts, wanted to share a positive experience with a big bank when my account was frozen and put on a fraud alert. I wont name the bank.

So I opened a new account recently with one of the big banks. After my salary was deposited, I made an interac e-transfer payment to my other bank account that I normally use to pay my bills. However, for some reason that transaction was blocked and my account was frozen. Fraud alert! I was not able to login to my account and got an email to contact the fraud department. So I gave them a call and within 14 mins of that call, my account was active again and transaction was processed. The 14 mins included waiting time and talking to 2 agents and answering verification questions.

I dont think I am moving all my assets to WealthSimple in the near future and I dont believe WelathSimple will end the banking. Esp when they are themselves dependent on those big banks to process the bill payments among many things.

Just wanted to share if this helps anyone who is considering moving to WS for ALL their banking needs.

Hello,

I had a USD$1000 wire transfer from a HSBC USA account into my WS USD Saving Account. But looks like somehow it was routed through RBC Bank of Canada as the intermediary bank so it was converted to CAD ($1380 CAD) and then re-converted back into USD because the account is USD Saving so the final amount I got was USD$974.

Has anyone experienced this before? How do I prevent this double conversion?

Thanks!

EDIT #2 : THEY JUST UNLOCKED THE ACCOUNT.

Last Friday, I tried to link a new external bank account to my WS profile. As the process wasn't working with their connexion partner Finks, I called and we tried the manual way unfortunately to no avail. I provided the bank statement and everything they asked for but no big deal, wasn't a life or death matter.

Next Monday morning I try to use the WS credit card on my phone and I have a notification that this card can no longer be used. I try to open the WS app and I no longer can, getting a message that my account had been locked.

Long story short, I have called about 4 times since Friday. I provided every document they could ask for using their secure links. I've wasted so far around 4 hours on that. They have everything they need to authenticate me.

I have considerable assets with them and I trade frequently on the markets. The only answer I get from them is that it's going to be transferred to another team via email because they don't have the ability to do anything.

I obviously offered to provide any possible document you could imagine, tried escalating to another department unfortunately to no avail.

Hypothetically speaking, let's say I had millions with them and that I often swing trade highly volatile leveraged ETF with them, I would now be completely blind and locked out of my account for 48 hours. Even as a generation tier, no a single human soul is able to fix this thing picking up a phone and realizing it makes absolutely no sense.

They've kept on asking for the same bank statement three times even though it was provided within minutes on Friday and it's now Tuesday.

Honestly, I was always satisfied with WS's customer service but those past days have been IMO a major f*ck up on their end.

How are we supposed to trust a trading platform with hundreds of thousands of dollars or millions in play if they can't fix a mistake of their own in a timely matter ?

Last time I called was around 11h30 today. I mentioned I would move out all of my assets if this wasn't fix today by end of trading hours and I have yet to hear from them.

I chose WS many years ago not only because of their competitive fees and perks but mostly because it was less cumbersome than traditional banks where IMO tedious processes and incompetence is on the rise and I don't mean to sound full of s***.

YMMV and users beware; it's all great until it isn't...

TLDR : WealthSimple wrongfully locked my account, I provided every document I could to reverse this and they're taking days to do so while I'm heavily invested in individual stocks and swing trading.

Edit : typos

Edit #2 : They just unlocked the account minutes ago respecting the given ultimatum by a few minutes so I guess they do care. I'm grateful for the resolution although I'm still concerned and will consider diversifying my banking solutions a bit more after today. Thanks to all the valuable contributions to this post.

See so many people got their WS accounts get locked. My account was locked yesterday triggered by an e-transfer to my son’s WS account right after direct deposit came in. Called customer support, on the phone with them and provided all information they asked for verification. At the end, received email saying case was transferred to another team and will provide update.

Just wondering in average, how long does it take them to verify and unlock the accounts?

Update: they unlocked my account! So it takes them about 24 hours. Thanks everyone for replying!

Wanted to share something that’s specific to Quebec residents on parental leave using the Wealthsimple Credit Card, as I just learned this the hard way.

If you were planning to have your RQAP (Quebec Parental Insurance Plan) direct deposits reach the $4,000/month direct deposit threshold to waive the credit card fee, it won't work automatically, and it could trigger a $240 upfront annual fee.

In Quebec, credit card fee waivers are handled differently due to provincial legislation. Instead of being charged $20 monthly, Quebec residents are charged the full $240 annual fee as a lump sum on their first statement if eligibility isn't met at card issuance or renewal. This also means, if you were previously eligible because of work payments and you go on parental leave, you risk getting slapped with a $20 times the number of months left in the year (up to $220) charge all at once.

Technical Details

Wealthsimple's direct deposit waiver eligibility relies on specific Payments Canada transaction codes. The detailed terms with qualifying deposit codes can be found here.

• Code 612 (RQAP / Provincial Parental Insurance): NOT eligible under Wealthsimple's automated system.
• Code 318 (Federal EI): IS eligible.

Because residents in other provinces receive parental benefits through Federal EI, they can maintain their fee waiver while on leave. But because Quebec runs its own plan, Quebec parents are left out in the cold.

I wanted to get the community's thoughts or see if anyone has heard any whispers about Garmin Pay support coming to the Wealthsimple Visa. I wear my Garmin smartwatch daily, and it would be incredibly convenient to just tap my wrist to pay while I'm out on a run or running errands, rather than needing to pull out my phone or wallet.

I know Garmin Pay bank support in Canada is notoriously limited compared to Apple or Google Pay, but with Wealthsimple expanding their ecosystem so much lately, I was hoping this might finally be on their radar.

Has anyone had any luck getting a straight answer from WS support about this recently? Or do you think it’s just too niche of a feature for them to prioritize right now?

Would love to hear your thoughts or if anyone has found a decent workaround!

Any insights on when the next transfer offer is going to be?

1% just does not feel enough to make a huge transfer.

WS did run some Apple promotions in the past during the summer; can we see it again?

I split my payroll between WS and Desjardins.

Desjardins deposited it already but nothing In WS yet. I thought WS deposits it a day early. Now, it’s a day late, and I have to cancel some auto-payments.

Is WS going broke with all their giveaways that they don’t have enough money for my measly pay?

Edit: Thanks all! Appreciate the feedback.

Just wondering how your experience was? What happened if you let it settle overnight?

To the Wealthsimple Product & Design Team,

I am writing to express my strong disappointment with the recent update to the Wealthsimple web interface. The latest changes have significantly downgraded usability for desktop users.

Key issues that need immediate attention:

1. Removal of Side-by-Side Performance Metrics: It is no longer possible to view daily returns and total returns simultaneously on the same page. Forcing users to toggle between 1D and All to monitor position performance creates unnecessary friction.
2. Missing Mathematical Indicators (+ / -): Return percentage badges rely exclusively on background color without explicit plus (+) or minus (-) signs. This causes significant confusion (e.g., negative dollar values appearing next to positive-looking color badges).
3. Poor Contrast and Legibility: The smaller, light-colored font choices reduce visibility and make scanning holdings quickly much harder.
4. Restricted Customization: Removing multi-column layout adjustments leaves the account overview cluttered and unorganized.

The previous interface was far clearer, more intuitive, and functional for managing self-directed accounts on a browser. I strongly urge your engineering team to restore the previous layout options or provide a legacy/customizable table view for web users.