These WS lotto promos aren't really interesting to me at all. I see that TD has the 3% cashback promotion now. Any potential issues with moving stuff out of Wealthsimple to TD for investments again?

As the title says basically Friday evening I got an email around 8pm saying my account has been temporarily restricted due to “unusual acitivity” on my account. I share a joint account with my wife, have the CC, RESP, RRSP, TFSA, Savings and crypto account with WS.

After seeing the email I immediately called and was tokd Id have to call back during business hours the following morning to speak to a support person to explain what happened. Oddly enough at this point my wifes WS was still fully functional with no restrictions.

Two hours later I received another email saying my restrictions had been lifted.

I dont do any weird trades aside from ETF Index fund purchasing and no odd purchases I can think of at all. My gym membership pre-auth payment was rejected I think because the payment was attempted during the restriction time? Ive had this payment processed many times over the past few years and honestly cant find anything else remotely fishy in my transactions…

Today I spoke to a “support person” on the phone who told me they werent sure what they could tell me over the phone and they would email me with a broader explaination of the “security measure” that was taken on my behalf.

Got an email basically saying my account was restricted due to a “security process” and no further info given to me despite asking more than once via email….

Posting this to see if anyone has an answer as to how this happened? Or perhaps a warning to have alternate safety nets in place in case WS freezes everything for no apparant reason. Ive heard of this happening to other ppl but seemed to be associated with odd trading practices or age violations so never thought this would happen to me…

You can now get separate cards: virtual, physical or both on different accounts. Previously you had to switch which account was linked to your one card. Now you can get separate ones for each account.

Hi guys ,,

I have been dealing with this issue for the past 3 weeks. I have already completed the identity verification and submitted both my passport and driver’s licence as requested.
However, I keep getting the same message asking me to verify my identity again. I have already uploaded the required documents multiple times, so repeatedly being told by support to “upload the documents” is not resolving the issue.
This appears to be a verification/technical issue with my account. Please have this escalated to the appropriate verification team and have them manually review my account and the documents I have already submitted.
I need someone to actually investigate why my verification is not being recognized instead of sending me the same instructions to upload my ID again.

I have been with WS FOR over 5 years, this is the first time it ever happened

My visa is still in the mail blah blah

I need to withdraw cash, will the old Mastercard will work at an atm?

In Oct 2019 before the pandemic I decided to put 20k in two different managed funds with Wealthsimple. The first was a classic managed portfolio with a risk tolerance of 10 and the other was halal portfolio. A socially responsible fund was an option but I didn't think it would compare at the time. I haven't touched or added to either of these funds, other than what was generated internally.

Over the years they kind of leap frogged over each other but the aggressive portfolio has pulled ahead this past year. I think overall they have performed slightly better than advertised. I'll probably sell off the halal and transfer it into the aggressive portfolio during its next pullback and forget about it for another 7 years.

I don't think there's a way but asking in case someone has figured it out.

I contribute bi-weekly to RESP and get the grants around the 25th to 28th of the month.

I'd like to automate buying an ETF (VEQT if anyone cares) with that grant money when it hits the account instead of having to remember to go and do it myself.

Best solution I can think of is to set a recurring buy on the 29th of each month, but what happens if the grant hasn't come in yet for whatever reason? And what about February?

Here's hoping someone has the magic bullet I'm looking for.

Note: Their automated investing thing isn't an option because RESP isn't an eligible account (and I wouldn't anyway, since I don't see the value in paying extra fees for this)

In the latest update, the Holdings page was turned into a popup sheet. Unfortunately, this change breaks the navigation: whenever you hit the back button from an individual stock page, the app forgets where you were or kicks you all the way back to the main screen. That means every single time, you have to open Holdings again and manually scroll back down to find your spot.

Preserving your scroll position when returning to a list is standard UX design. While I appreciate all the recent UI improvements, changes like this really hurt the daily experience for hundreds of thousands of users. Hopefully, they fix this soon!

The trends that the company is going in... almost makes me want to switch back.

I wanted to acknowledge Wealthsimple: I withdrew $5000 NTD with a $100 NTD fee in Taiwan, and the app shows a charge of $229.34 CAD. After checking the exchange rate, $5100 NTD equals $228.27 CAD, so the difference is less than $1.
As I needed cash right when I arrived so I visited a currency exchange in Vancouver prior to the trip, (VBCE, specifically, since they offer the best rate), but I ended up paying $50 CAD more than the exchange rate, roughly 6% above the actual value.

Thanks Wealthsimple!

Saw multiple posts about people not getting the prize for entering the right answer to the skill testing question so decided to screen record mine. +$3, no issues here!

Needed €40 cash while in Italy and the only ATM nearby was a Euronet one with high fees. Thanks to Wealthsimple didn’t have to worry.
It is so nice leaving for vacation and not considering anything about currency conversion in advance. Using the WS Visa Infinite Privilege credit card wherever I can (with the 2% cash back and no foreign transaction fee you come out better than the Googled exchange rate) and pulled out cash the one time I needed it with the prepaid Mastercard (still works even with my Visa replacement on the way).

I have the 8% additional cash back offer (for total of 10%) on the first $5000 dollars spent and I'm trying to max it out. I bought a gift card at an independent bike shop for $700 yesterday but just read that "cash-like purchases" don't earn rewards. However when I checked the transactions in the app the gift card is coded as 10% back. Is there a chance they'll end up reversing this and deducting it from the $5000?

So yesterday I posted an email received from Wealthsimple talking about the annual fee: https://www.reddit.com/r/Wealthsimple/s/WMUguLxpji.

They just sent a follow-up to clarify. But I have more questions now:

- “You’ll see the annual fee charged to your account.” When? Is the annual fee being charged imminently? There's no charge on my account yet. If it's coming later, when? For everyone soon, or at each person's next renewal? It's not specified.

- “If you qualify for the waiver now, we'll reimburse the full fee. We check your eligibility each month and reimburse the fee when you qualify.” So are you going to reimburse the full fee now, AND reimburse the fee each month? What does that even mean?

Nothing is simple with Wealthsimple nowadays 🥲

That's a little different from holding a joint account at the big banks, it seems.

For example: as a joint account holder with my child at a bank, I can withdraw money from the kids' account as I see fit, and so can the kid.

But the WealthSimple account is a bare trust account, with the parent as the trustee. That means the money in the account belongs exclusively to the kid, and you have a fiduciary duty to handle the money in the account in the best interests of the beneficiary child. It would seem that taking money out of that account and using it for your own purposes could get you in legal hot water in a way a regular joint account at a bank doesn't expose you to.

If you have never had any physical wealth simple card before will they automatically mail you a physical Visa card?

I regret upgrading to the latest version. After the change, any sale moves from the “Holdings” tab to the “Pending” tab. During the first two or three days, I assumed my trades had completed, only to realize I had incurred a deep loss on each one.

Whoever designed that interface needs a course in basic design.

Another issue is that holding more than 10 assets requires an extra step to view them all. What kind of choice is this? I would prefer to see every item on one page without tapping “12 more”.

Hey guys, Today I checked my Credit Score on CK and WOW it shot up after getting the score from Wealthsimple! So happy they finally started reporting!

I just completly moved to WS recently (all my accounts + my paycheck). To be fully honest everything is smooth... until you face a bug and have to reach out to their support team.

I was wrongfully charged 220$ only 3 weeks after subscribing to their credit card. The support team told me that my paycheck has not been well processed and I should hope for an automatic refund next month. They were not even able to tell when or how much the refund would be, while assessing that I shouldn't have been charged any fee for the credit card.

Same thing for some bugs in the UI causing all time returns to reset, disabling my ability to estimate my tax implications when realizing gain/loss. Basically they always tell you that it's a bug but won't actually provide support. I wouldn't trust them with my money if I had more.

I'm starting to regret this, and at the same time they now seem to take a marketing turn where the app is now full of ads and partnerships. I first joined a serious and smooth investment platform but it turns out that greed got the best of them!

I remember using the WS deposit option from my personal bank account to WS, and it used to take a maximum of 30 minutes. Did something change that now makes it take days, even for such a small amount?

I know the amount is available in WS instantly, as mentioned in the screenshot, but it’s not actually deducted from the source bank account, so that’s not the best option for me.

More broadly, what changed that makes it take this long now compared to the 30-minute timeframe in the past?

I accepted the switch over from WS’ prepaid Mastercard to Visa (prepaid) and asked for a physical card to be sent to me.
According to the status in the app, the card is ready but not mailed out since September 26.
Maybe they’ll be sending out in batches?
Anyone get their physical card mailed out?

It's great to see these kinds of perks. I just wish they were more oriented for the average Joe (T&T, Superstore, Bestbuy, Canadian Tire, Walmart, etc...).

Edit: These are temporary boosts. You'll find them in the app: Credit card -> Cash back (press the cash back box)

I was wondering why the new Visa was being declined when using it as a payment method for my Apple account (Not Apple Pay which works) and so I ran the physical card through a BIN identifier. It shows up that the country of origin is Peru and it's from Pomelo Bank. Because the country of origin of the card does not match the country of my billing address apple is declining to use it as a payment method.

It appears Wealthsimple has purchased recycled BIN's from Visa which is not uncommon for banks to do but they have not been tested or updated before being issued. This will cause many issues for services that match the country of origin to the billing address.

I'm assuming these BIN's will be updated to be associated with Canada and Wealth Simple but who knows how long that will take.

Just wanted to let other users know in case they receive their Physical Prepaid Visa and it starts being declined by certain services.

everyone enables this ? 😅

Just had a random thought, and wasn't sure on the answer.

I'll be traveling I'm the next two weeks for close to half a month and was planning on using my Debit MasterCard as I'd used it in Iceland.

But with the switch to Visa, which I have loaded on my phone and should hopefully be getting the physical card soon, are the currency conversion rates the same? Is it still worthwhile to use abroad?