Wealthsimple Cash

[Envitro]

Is this kind of like what Manulife One was supposed to be?

[TorqueDog]

Manulife One is a mortgage, HELOC, and spending account in one. So basically it's a fancy-pants way of saying "secured line of credit". You pay interest on it plus there's a monthly cost IIRC.

Originally Posted by Torture

You know what they say about assumptions, right?
https://www.wealthsimple.com/en-ca/magazine/news-cash

They couldn't just put that in the goddamn FAQ, could they.

[Hemi-Cuda]

Originally Posted by Torture

You know what they say about assumptions, right?


https://www.wealthsimple.com/en-ca/magazine/news-cash

If I didn't already have a Visa through Scotiabank that ties in nicely with my regular accounts, I'd switch right away. If Weathsimple ends up offering comparable credit cards as well then I'll probably make the full time switch

[PumpedTires]

EQ Bank just increased their rate to 2.45% in response to Wealth Simple's offering. Sounds good to me!

[Flames0910]

Hmm, no Forex Fees (coming soon).

Could be interesting as a secondary account / travel card if someone wanted to drip a toe in the water

[bizaro86]

Seems to me you would be losing out on cash back/credit card points. I guess if you can make bill payments from this it would make sense - then you could still use your regular credit card and make payments on that.

Or just use it as a high interest savings account.

[topfiverecords]

Anyone have a referral code for the investment side?

[Flames0910]

Originally Posted by topfiverecords

Anyone have a referral code for the investment side?

PM sent

[Julio]

Motive (formerly Canadian Western Direct) has been doing this for years. Get 2.8% on my savings.