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Email this2:51 pm
April 27, 2017
Online
Tested it today; works very well.
Set everything up Monday evening, using the “Express” option. Took about 1 min in the app.
It was free (contrary to what WS itself claims here: https://help.wealthsimple.com/.....ng-account)
WS provided updates as the package went via various shipping phases.
Got it delivered today via FedEx. We are off the beaten track and Monday was a bank holiday; otherwise they deliver next day.
3:34 pm
March 17, 2018
Offline
That's great ! I have an account with WS and really value it.
But WS shouldn't be your only bank for various reasons including:
1) can receive wired money, but not as reliably as a bank because of convoluted routing
2) sometimes you need a money order/bank draft as a deposit for use of a condo elevator, and then when you haven't damaged the building you get the bank draft back and need to return it to your bank account
3) no gic, preferred shares, mutual funds, bonds
4) no free US accounts unless you have over 100K in deposits
5) not allowed to have it while living outside Canada as a non Canadian tax resident
6) wouldn't be the best FI to have an estate account with
7) Everyone should always deal with more than one bank in case their accounts get hacked or frozen at one of the banks
