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Old 01-23-2020, 02:38 PM   #21
Envitro
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Is this kind of like what Manulife One was supposed to be?
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Old 01-23-2020, 03:14 PM   #22
TorqueDog
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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.

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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.
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Old 01-23-2020, 04:04 PM   #23
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Quote:
Originally Posted by Torture View Post
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
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Old 01-23-2020, 04:39 PM   #24
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EQ Bank just increased their rate to 2.45% in response to Wealth Simple's offering. Sounds good to me!
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Old 01-23-2020, 05:05 PM   #25
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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
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Old 01-23-2020, 06:56 PM   #26
bizaro86
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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.
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Old 02-21-2020, 11:12 AM   #27
topfiverecords
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Anyone have a referral code for the investment side?
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Old 02-21-2020, 11:18 AM   #28
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Anyone have a referral code for the investment side?
PM sent
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Old 02-21-2020, 01:23 PM   #29
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Motive (formerly Canadian Western Direct) has been doing this for years. Get 2.8% on my savings.
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