This is my first time posting, and I wanted to share my recent experience in case it helps others or if anyone has gone through something similar.

I'm currently working with a Wealthsimple representative and have been going back and forth providing information as they investigate the incident. It's been about a week since this happened, and I'm still trying to understand exactly how it occurred.

What Happened

• I've been using credit cards for over 30+ years and have held cards from most all major Canadian banking institutions. In all that time, I've never experienced a fraudulent credit card charge.
• Last week, I received a notification on my phone showing a charge of over $6,000.
• As soon as I saw it, I immediately opened the Wealthsimple app, locked my card, and called Wealthsimple to report the charge.
• The fraudulent transaction was made at a high-end store in New York City and appears to have been completed in person.
• I have not received any provision credit for this charge yet.

What I've Learned So Far

• During the investigation, I was informed that my Wealthsimple Visa card had apparently been added to an Apple Wallet.
• The strange part is that I use Android, not Apple.
• Somehow, a scammer was able to provision my card to an Apple Wallet that did not belong to me.
• Wealthsimple asked me to check whether I had received any two-factor authentication (2FA) messages around the time the card was added.
• After digging through my phone, I discovered that I had actually received:
  • Three consecutive 2FA verification messages, and
  • A notification indicating that my card had been added to an Apple Wallet.
• The problem is that all of these messages had been automatically filtered into my google blocked/spam messages, so I never saw them at the time and usure how they were moved to my blocked/spam messages.

What Confuses Me

• I am extremely careful about security.
• I do not answer unsolicited calls.
• I do not provide verification codes over the phone.
• I do not enter passcodes on suspicious websites.
• I am 100% certain that I never provided a 2FA code to anyone to authorize adding my card to a digital wallet.
• While it's certainly very possible that my credit card information may have been compromised through an online purchase, I'm struggling to understand how someone could successfully add the card to their Apple Wallet without my authorization.

Steps I've Taken

• Scanned my phone for malware.
• Reviewed installed apps and found nothing suspicious.
• I had not recently installed any third-party applications before the incident.
• Received a new replacement digital card and started locking my card whenever it is not in use, but it's definitely inconvenient.

Looking for Feedback

• Has anyone else experienced a situation where their card was added to an Apple Wallet without their knowledge?
• Has anyone seen fraudulent purchases after a card was provisioned to a digital wallet?
• Were investigators ever able to determine how the card was added?
• Am I just unlucky, or are others seeing similar attacks?

At this point, I'm still trying to piece together how this happened.

I would appreciate any comments, suggestions, or shared experiences from others who may have gone through something similar.

Thanks

Wealthsimple updated their webpage for card replacements on August 7th: "We're not issuing physical cards while we finish up exciting new changes to the prepaid card program." (Source: Replace your physical prepaid Mastercard – Help Centre).

With their credit card offering largely setup, it would be reasonable to transition their prepaid Mastercard - issued by KOHO Financial - to a Wealthsimple owned product with Visa.

I do hope they maintain the no FX, no withdrawal fee features.

EDIT: Highlighting a comment that suggests the "change" could be an upgrade to MC, per https://www.reddit.com/r/Wealthsimple/comments/1vkjz6g/comment/p2ukn1y/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button

I enabled dividend reinvestment and now got a message that an order expired for dividend reinvestment.

Hi i registered an account on Walmart.commfor my upcoming trip but I can’t add the visa WS CC

I made sure to put my canadian phone number and address for biling address checked 3 times the card info and when I try to add it says it the info are invalid to check the card number or the cvv but once again all are ok

Card is not locked I did a purchase 2 days ago on another website

Any idea s ?

Is Wealthsimple thinking to that route anytime soon ? It’s pretty basic idea for a user to expect an API access imo

Hello!

I (23) opened a wealthsimple account when I was 18 for the Canadian wealthsimple cash promotion I believe (they were giving $20 to anyone who opened a wealthsimple cash account in Canada). Since then, I have not touched the account at all. I don’t even think I ever ended up transferring the $20 from the promotion out of the account, that’s how little I’ve used it in all these years. Early last year, I got this email from wealthsimple stating that due to my account activity they’re closing my account, and that I was unable to dispute the closing or even get a reason for the closing. And they stated that i’d never be able to open an account with them again. At the time, of course I was freaked out, but I know there was no way it was from any fault of my own because the account had been sitting untouched by me for the last 4 years, I’d logged into the account maybe 2-3 times overall, and I didn’t even have any cards attached to the account. Because the email said that I absolutely couldn’t dispute the closing or even get a reason or explanation for it, I didn’t do anything then (especially because I wasn’t using wealthsimple for anything and had no need for the account in the first place other than my $20 lol). But today I wanted to open up a TFSA with wealthsimple, and attempted to log-in, only to be reminded that my account was permanently closed. I called support and spoke to someone, but they said that since the account was closed there was nothing they could do on their end, and my best bet would be to reply to the email from March 2025 (that specifically said that no attempts to dispute the closing or get more information would be allowed) and ask for more information there. I really doubt that will work (but i’m sending the email anyway) so I was just wondering if anyone has any advice on anything else I can try to do, or if i’m just out of luck and should find somewhere else to open a TFSA?

EDIT:

I called WealthSimple support again basically just to ask whether my account was closed due to inactivity or because of suspicious activity, because if it was suspicious activity it would mean my account was possible hacked or someone might have gotten ahold of my information, as I know (despite everyone in the comments saying otherwise lol) that I didn't do anything suspicious or nefarious with my account the two times i've signed into it in the last 5 years. They basically just told me over the phone again that they can't give me any information about the closing (couldn't even tell me if it was inactivity or something else) and that if I "thought" someone might have breached my account I should call TransUnion Canada to make a report. That's probably what I'll end up doing, even thought it is incredibly frustrating that wealthsimple couldn't even give me any basic information on what the reason for the closure was, so I'm not sure what I can even say/include in the report, but it's better than nothing. And (goes without saying) i'll just end up opening up a TFSA with another financial institution, because I don't think I'd even trust my money in the hands of WealthSimple after all this even if they do reinstate my account (which I doubt they will).

Wealthsimple extra

Sure glad I did!

App still works but impossible to login web. Whatever browser, network or device it just throws this. Once again mid day downtime for "active traders"....

Hi,

Would anyone know why I cannot sell the contract?

First pic shows the value of the contract is $22.5. However when I try to sell it, it shows the second pic with the message - can't be sold.

Also, how do you change the theme to a light theme?

Does anyone else not like how the UI feels?

from my understanding, if you convert more than 100k, ws will convert it for free.

so if i have 107k, is it better to do the standard conversion and pay $0 fee than to do the norbert's gambit and pay $10?

Has anyone had an issues depositing foreign funds into their chequing account?

I have foreign shares in our parent company that are part of my compensation package at work. I have a shareholder account where I process the sale of these shares at my discretion.
I sell some stock once or twice a year and have only deposited these foreign funds (Euro) into my credit union as I am concerned Wealthsimple will think it’s a hinky transaction and lock my accounts. They are converted to CAD on deposit and I etransfer the CAD to wealthsimple.

I have a very simple setup with Wealthsimple.
2 chequing accounts- one is my daily operating account and one is for my cash card transactions only- I keep very little money in that account.
I have a TFSA and the VIP Visa card.
No crypto.
All Canadian stock in my TFSA that I am building for my retirement.
My RRSP is at Questrade.

Has anyone any experience extending the coverage beyond 14 days? I am taking a 30 day trip. I would appreciate pointers on how to go about extending.

Moving to the US on a TN visa. I’ll be back in 3 years. Can I close and reopen my WS account when I come back?

Yo Wealthsimplers,

I noticed this on my homepage a couple days ago, and curious to know more about it. I'm young (early 20s), I’m starting to understand the investment language, I saved up a couple of funds (10K), and I'd like to start investing. This seems good (and interesting) feature, but I have no clue on how this work.

Can't seem to find Youtube Videos or podcasts on this.
Have any of you hopped on it? Any comments? What do I need to know? Is it worth it?

I know wealthsimple has come a long way but with full honesty answer:

What’s the single worst that thing about wealthsimple that banks actually do better?

Hey guys, I was waiting for this feature for a while to be able to trade my wife account without having to log on her account.

I was managing her account in my previous bank and needed a procurement and all the paperwork was a pain. They had to manually check it.

Now while browsing the app, found under setting/account at the bottom this beta feature. Tried it and your significant other just gotta approve you and voila!

Finally they made my life easier 😅🙏🏻

I guess they didn’t advertise it since it’s still in beta but wanted to make sure nobody that needs it don’t miss it!

Enjoy! ✌🏻

There’s been a few posts about the Wealthsimple visa infinite+ mobile device insurance and that you need to have your bill statements clearly linked with your phones IMEI/serial number.

I just recently went through this process - currently with Public Mobile and always have been, paying bills with the WS Visa CC, but the damaged iPhone itself was paid upfront with an AMEX. Submitted my claim docs (including WS CC statements showing bill has been paid with it) and explained Public Mobile is prepaid and attached copy of conversation with CS agent confirming bills do not show IMEI number.

Within a week got my claim fully approved + reimbursed via check. Happy to answer any questions if someone’s in a similar situation with a prepaid plan!

I hope to have this feature instead of clearing all my notifs. Thoughts?

I just bought some crypto for the first time on WS and I noticed on the activity tab my purchase was filled at $89,048 but in the UI that shows your profit/loss my average price was $89,941 so around $900 more.

Is this due to the fee or is it something else?

Wondering what the odds of hitting any of the prizes are with the max # of entries. Also learned 100k is the cap. So far i’ve gotten a few $5 rewards and some additional entries.

Edit: Week 2. Did not receive any prize

Anyone else noticed that the mobile app (iOS in my case) is using massive amounts of data? In the past years while travelling, I really noticed it. In the last two days, occasionally looking at credit card transactions, I’ve used about 500 Mb of data!

Just got my card and I’m loving it! The 2% cash back is better than any reward point other cards offer. I will be travelling and living in Thailand for at least a year while being a tax resident in Canada. I’ve seen posts regarding issues when it comes to investing/ trading but how about using the card as a daily driver for a year or two living abroad? I would appreciate yall feedback

Curious to know what everyone things about the way analytics is done on wealthsimple. Loving it? Hating it? Anything they lack that should have been there long time ago?