This is good news for savers!

canadian.100 said

I think the FOOL here is the Crown Corporation (CDIC). No real risk to WealthOne (supposedly being monitored by OSFI) nor any risk to the depositor (up to $100K).  

And therein lies ⬆️ part of the Problem.

These days for many of us, $100K in CDIC coverage is just too limiting.
With the way inflation has been going over the years, it's now approaching 'Chicken Feed' status.

Dean

It is not SMS problem, logging to my Wealth One account at their web site triggers SMS, too, and that one always arrive to my phone.

Tested Flinks again today, it completes process now. SMS is sent, and external link is created.
I linked my Wealth One account as external account at my two other FIs.

This is just FYI in case someone tried linking Wealth One account and linking failed. It should work now.

Dean said
.
It's Not a Given . . .

The CIDC can provide coverage ... and it can also take it away❗

Using CIDC coverage to justify investing in an FI that Always operates
in 'The Red' ... is A FOOL'S Game.
Dean  

I think the FOOL here is the Crown Corporation (CDIC). No real risk to WealthOne (supposedly being monitored by OSFI) nor any risk to the depositor (up to $100K).

The CIDC can provide coverage ... and it can also take it away❗

Using CIDC coverage to justify investing in an FI that Always operates
in 'The Red' ... is A FOOL'S Game.

Dean

Nehpets said

Which is why CDIC was created!  

Actually, I do not believe that CDIC was created for an institution like WealthOne.

But we are All aware of the CDIC coverage.

Dean

Dean said
.
Great Rates ⬆️ ... coupled with continued Lousy/Unprofitable performance.

All while the impending Implosion gets Closer❗

Dean  

Which is why CDIC was created!

All while the impending Implosion gets Closer❗

Dean

Alexandre said

Deposits in Wealth One Bank of Canada are CDIC insured, so I am not sure why would it matter for an account holder if that bank is profitable or not.  

But that CDIC Insurance maxes out at at measly $100K (almost Chicken Feed these days).

And why wouldn't someone be Extremely Wary when considering dealing with an FI that after 10 Years, it 'Still' can't make a profit ... or even break even ⁉️

Too many people are being blinded by W1BoC's high rates. I'd give it another 2-3 years, and then it's all going to Implode❗

Dean

Lamaison said
I got the same email this morning. 3.00% on HISA regardless of the balance.  

The email refers to TFSA at 3.0% but if scroll down says on HISA also. However on website need $25000 plus for 3.0% on HISA