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Email this5:50 am
April 27, 2017
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WS has a new “AirPods” promo for transfers or contributions over $25K.
You need to register before June 15th and then you have a month to contribute.
Not a good offer if you are planning to transfer a few mil in investments. Recent broker bribes went up to 2% so this is nothing.
Great offer if you are regularly contributing funds to WS anyway. Then you get a boost for clicking on “register”. If you are a Generation client then you normally get 2.75% on WS HISA. If you add 25K while registered for the promo, then your effective rate on the added amount is over 3.3%.
You do have to keep most of funds with them for a year if you get the promo but you can still withdraw 5%.
1:14 pm
April 27, 2017
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WS are giving a 1% “bribe” for transferring assets to their brokerage or hybrid chequing/saving accounts.
I was in the process of transferring assets from TDDI under WS “Spring offer” which was supposed to be 0.75%. Yesterday WS upped their “Spring offer” to 1% and contacted me to tell that my already initiated and partially completed transfer will be subject to it. Thats nice of them.
TDDI sent me a personal email offering 1% to transfer to them but I wasn’t planning to take them up on it.
4:07 am
December 20, 2019
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Just set up my wealth simple account, got the Air Pod PROS for depositing 50k
I only did it because my kid wanted them because the 1.75% base interest is less than the 2.8% base at SAVEN.
They will increase the rate to 2.75% when you hit 500k so that is why I did it and then the
BIG BIG BIG reason!!!!!!!!!!!!!!!!!!!!!
1 Million Dollar Deposit insurance so you can keep a million stored there safely
4:21 am
December 20, 2019
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So far 65k has cleared and I have been offered the air pod pros or $200 cash and current interest is 2.25% which increases to 2.75% when 500k is reached and then you get the PREFERRED client status with a metal card.
If you don't cash in the promo it stays cumulative until July 24th and if you keep adding funds (up to 200k) by July 24th you can claim the $900 cash which is my intention.
Then stay wise and hold off until they add more promos, remember you have a million deposit insurance here but make them work for the money by taking advantage of upcoming promotions after July 24th.
4:52 am
March 30, 2017
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I would love to be offered the 2% which TDDI did last year. However that was targetted and was only to existing customers if i am not mistaken.
All other dealers seem to be 1% at best, and the req holding period are now making it longer and longer. Was 1year across the board, now they are more creative to keep it for longer.
4:57 am
April 27, 2017
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KamWest said
So far 65k has cleared and I have been offered the air pod pros or $200 cash and current interest is 2.25% which increases to 2.75% when 500k is reached and then you get the PREFERRED client status with a metal card.If you don't cash in the promo it stays cumulative until July 24th and if you keep adding funds (up to 200k) by July 24th you can claim the $900 cash which is my intention.
Then stay wise and hold off until they add more promos, remember you have a million deposit insurance here but make them work for the money by taking advantage of upcoming promotions after July 24th.
They have a current “Spring Offer” promo which gives you a 1% bribe. You need to request it and to be authorized before transferring the money. Limit $10M.
Note that unlike competitors, WS gives you goodies for having money with them even if you don't keep moving funds around. It's little things, like lounges, free G&M, Strava, Uber, etc.
6:26 pm
April 20, 2019
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Hi Mordko,
Who do you contact for the 1% WS bribe? I took the $25k deposit for airpods as I was not aware of any other options and wanted to move funds to a trading account now. The cash in option for that was $150 which is less than 1%.
Do you also have a business savings account at WS?? I cold called a random CSR and they told me no. I thought they exist. I am also a Generation client.
8:35 pm
April 27, 2017
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suburbs4life said
Hi Mordko,Who do you contact for the 1% WS bribe? I took the $25k deposit for airpods as I was not aware of any other options and wanted to move funds to a trading account now. The cash in option for that was $150 which is less than 1%.
Do you also have a business savings account at WS?? I cold called a random CSR and they told me no. I thought they exist. I am also a Generation client.
Yes, I have corp accounts: savings and investment. They officially advertise corp accounts, so you got the wrong person.
Their corp accounts dont work for usd yet but I don’t use USD assets in the corp account.
You need to connect with your relationship manager. Not sure if they have a formal title but I have one person who quickly responds to my emails, etc. As a generation client you can set up a call with “financial advisor”. I did that, she built a retirement projection for us. That “advisor” effectively became my relationship manager.
Get RM to set up accounts and arrange your “private spring offer”. Details:
https://www.wealthsimple.com/en-ca/accounts/corporate-accounts
8:52 pm
April 27, 2017
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savemoresaveoften said
I would love to be offered the 2% which TDDI did last year. However that was targetted and was only to existing customers if i am not mistaken..
It wasn’t exclusive to existing customers. I got it and I had never had an account with TD up until then.
I’ve seen 2% offers from WS and Questrade this past winter- for certain categories of accounts. But honestly… 1% is really nice too if you like the service. I think TDDI would have to pay 5% for me to be tempted again.
3:36 am
December 20, 2019
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KamWest said
So far 65k has cleared and I have been offered the air pod pros or $200 cash and current interest is 2.25% which increases to 2.75% when 500k is reached
Looks like you get the 2.75% at 150k not 500k as I stated above.
4:35 am
April 27, 2017
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Not unless you also have direct deposits.
4:39 am
December 20, 2019
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mordko said
Not unless you also have direct deposits.
Just joined them, have never had a direct deposit, the interest rate in the pic above was raised from 2.25% to 2.75% as soon as 150k was reached.
PS. I also got the premium status with the gold app icon upgrade. Hehe, to me premium means nothing, the only thing premium I need is the higher rate. 
4:55 am
March 30, 2017
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mordko said
It wasn’t exclusive to existing customers. I got it and I had never had an account with TD up until then.
I’ve seen 2% offers from WS and Questrade this past winter- for certain categories of accounts. But honestly… 1% is really nice too if you like the service. I think TDDI would have to pay 5% for me to be tempted again.
ic. I closed all my accounts at TDCT 2 years ago and not seen any offer to me. They even decline my applying for TD CC lol.
I have max out WS promo so will be nice if TD pull a 2% stunt again, but I highly doubt it. I just don't need a phone every year lol
5:43 am
April 27, 2017
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KamWest said
Just joined them, have never had a direct deposit, the interest rate in the pic above was raised from 2.25% to 2.75% as soon as 150k was reached.
PS. I also got the premium status with the gold app icon upgrade. Hehe, to me premium means nothing, the only thing premium I need is the higher rate.
Display bug. Happens occasionally.
5:44 am
April 20, 2019
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Thanks Mordko. I didn't push too hard on the corporate savings as didn't want to create more headaches with accounting/tracking. I met with someone to make a plan. I didn't realize they were my ongoing point of contact.
5:51 am
December 20, 2019
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mordko said
Display bug. Happens occasionally.
No, I have my own rep who is in touch with me via email and he confirmed the rate for me.
He is also getting me 25k daily and 250k monthly e-transfer limits.
Also getting an additional 1% on transfers in up to 2 million which is paid out monthly over 2 years at $833 for 24 months. This is on top of the 2.75% rate.
He also offered to join my wife's accounts (both will be generational) to apply for additional promotions and he said he would stagger them so I can take advantage of as many as possible.
I had a 45 minute conversation with my rep while I was on a business trip. I had time because I was driving and this guy is phenomenal showing me how the crypto accounts work and assuring I have the lowest self directed fees on trades.
I am so so impressed with Wealth Simple, for the first time I feel like someone is offering me perks instead of me having to request them.
7:05 am
April 27, 2017
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Everything you are describing is standard, and 1% promo should apply up to $10M, so not sure what is the value in staggering unless you are holding out for a higher bribe. Your RM will always email you about promos; business development is part of his job.
Chequing account Interest rate being negotiable and different from posted tiers does surprise me. Does your wife already have an account with WS? They count assets per family; that's standard too.
7:20 am
August 4, 2010
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The first 0.5% rate boost would come at $100K automatically, and it is possible they are using turning on the second 0.5% boost even without direct deposit as something reps can authorize as a sweetener? Or if there is a household thing, they might have turned that on and the household level was over the $500K alternative qualification for the top interest rate.
1:35 pm
November 18, 2017
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What, exactly, does a "generational account" mean in this context? All the references I can look up say different things.
RetirEd
1:59 pm
August 4, 2010
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RetirEd said
What, exactly, does a "generational account" mean in this context? All the references I can look up say different things.
Wealthsimple has 3 "tiers" based on your total combined assets there (or combined household assets). Under $100K is there basic "Core" level. At $100K you are a "Premium" member, you get some goodies like free USD accounts (normally $10/month), and you get to choose one of their little gifts (like free Globe and Mail subscription, etc) each time you hit the $200K/$300K/$400K boundaries. At $500K, you are a "Generation" member.
You can get their highest interest rate (currently 2.75%) as a Generation member, or at the Premium level if you have monthly direct deposits of $2000+.
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