Money With Mark
Money With Mark
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Wealthsimple High Interest Savings Account Review & Demo
I've been using Wealthsimple's High Interest Savings Account for over five years. Today, I'm diving into the good, the bad, and everything in between. Hit the like button and subscribe to Money With Mark for more honest reviews!
💰Get $25 FREE when you use my code KBYLNW www.moneywithmark.ca/go/wealthsimpletrade/
Key Highlights:
No Fees: No annual or monthly fees!
Easy Transfers: Effortlessly connect your bank accounts and transfer money.
Extra Interest: Earn an extra 0.5% interest with direct deposits over $2,000/month.
What I Love:
Automations: Automatic deposits and investments.
Wealthsimple Card: No foreign transaction fees, perfect for travelers.
New Features: Multiple cash accounts and round-up savings.
Room for Improvement:
US Dollar Accounts: Only available in Canadian dollars.
Direct Competition: Neo Financial and KOHO offer some features Wealthsimple lacks.
Conclusion:
Wealthsimple offers competitive interest ratee and a user-friendly experience. It's perfect for savings, but if you're seeking a complete banking alternative, you might want to explore Neo Financial or KOHO.
Get Started:
Sign up for Wealthsimple High Interest Savings Account here and get an extra $25 with my code!
💰Get $25 FREE when you use my code KBYLNW www.moneywithmark.ca/go/wealthsimpletrade/
Questions?
Drop your thoughts in the comments below. What do you think of Wealthsimple's savings account? Leave your review on Wealthsimple's high interest savings account here www.moneywithmark.ca/best/high-interest-saving-account/wealthsimple/
My IG:
@MoneyWithMark
moneywithmark
TikTok:
@MoneyWithMark
Chapters:
Introduction - 00:00
No Fees & Easy Setup - 00:21
Connecting Bank Accounts - 00:49
Boosting Interest Rates - 01:12
Moving Money Options - 01:35
Automatic Savings Features - 02:00
Wealthsimple Card Benefits - 02:34
Comparison with Other Services - 03:03
New Features: Multiple Accounts & Round-Up Savings - 03:22
Limitations of Wealthsimple - 04:27
Interest Rates & Earnings - 05:00
Overall Rating & Recommendations - 06:38
Signup Bonus! - 07:02
Liability Disclaimer: www.moneywithmark.ca/disclaimer/
*I may earn a commission if you buy any products or services via the links in this video's description. This video is not investment, financial, or legal advice. It may be incorrect, outdated, inaccurate, or reflect personal opinions. This video is for entertainment purposes only.
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ความคิดเห็น

  • @juliafeldman6193
    @juliafeldman6193 23 ชั่วโมงที่ผ่านมา

    I do get transfers from many other people and I am wi koho

  • @demetriusdemarcusbartholom8063
    @demetriusdemarcusbartholom8063 2 วันที่ผ่านมา

    Thanks!

    • @MoneyWithMark69
      @MoneyWithMark69 2 วันที่ผ่านมา

      Anytime! Let me know how you get on with neo

  • @PlatinumCrookrecords
    @PlatinumCrookrecords 5 วันที่ผ่านมา

    No hate but if you look at people like Kanye west and jay z they rock a lot of designer. Also Jeff bezos, mark Zuckerberg usually wear designer they just don’t have logos on them but it’s still designer. Designer brands public is in majority rich people because it’s the majority that can afford middle classes people will buy one or two nice designer pieces because they’re durable and nice quality but anyways have a great day.

  • @AlexChristianG
    @AlexChristianG 7 วันที่ผ่านมา

    I think its good to have an option to earn interest which is tax free in TFSA if you are planning to keep it there for a short term, rather than just providing only one option to invest in Stocks and people cant use it, coz they dont wanna lose their principal money. So even though technically TFSAs could be used as a great long term investing tool, it can also act as an emergency fund account as well where you can earn interest tax free considering the limitations of TFSA room...

    • @MoneyWithMark69
      @MoneyWithMark69 7 วันที่ผ่านมา

      I think that's a HORRIBLE use of your tfsa. Big wasted opportunity.

  • @Ian-of9oi
    @Ian-of9oi 12 วันที่ผ่านมา

    How do they pay the interest? Monthly?

  • @sarahcampbell9982
    @sarahcampbell9982 13 วันที่ผ่านมา

    Hey Mark, do you know whether Wealthsimple Cash card now has the deposit feature and whether there are fees associated with the deposit feature? Thank youuu

    • @MoneyWithMark69
      @MoneyWithMark69 13 วันที่ผ่านมา

      Yes I heard! I believe there are no fees to deposit as they only take money at Canada post locations

  • @andreimel3938
    @andreimel3938 14 วันที่ผ่านมา

    Stay away. Wealthsimple lock ur account and loqudate your crypto to cash for cheap, making u loose money. Search the web thousands of people asking for help

  • @robisverybad75
    @robisverybad75 15 วันที่ผ่านมา

    Say the 3 card in the first minute. Later

    • @MoneyWithMark69
      @MoneyWithMark69 15 วันที่ผ่านมา

      It's called a countdown 😅

  • @Mmmtruk
    @Mmmtruk 15 วันที่ผ่านมา

    hey man im so sorry to say but the background music was very irritating to listen to :( the high pitched part was hard to get past

    • @MoneyWithMark69
      @MoneyWithMark69 15 วันที่ผ่านมา

      Ah! Thank you so much for the feedback!!

  • @paulallen3797
    @paulallen3797 16 วันที่ผ่านมา

    Anyone claiming they live paycheck to paycheck earning six figures either is a spendthrift or married with like 12-20 children.... No other reasonable excuse

    • @MoneyWithMark69
      @MoneyWithMark69 16 วันที่ผ่านมา

      Lifestyle creap is a real struggle

  • @zeshaniqbal1184
    @zeshaniqbal1184 16 วันที่ผ่านมา

    Whats the tfsa account that lets u invest in individual stocks and bonds i believe its the one u open through their itrade. Correct me if I'm wrong

    • @MoneyWithMark69
      @MoneyWithMark69 16 วันที่ผ่านมา

      Go use Wealthsimple. It's my fav. You can get $25 bonus if you use my code KBYLNW 🎁

  • @jordynandrade3242
    @jordynandrade3242 16 วันที่ผ่านมา

    If u make 250k a year and are living paycheck to paycheck it’s not that you don’t get paid enough your spending habits are jus terrible an your living way above your salary I don’t make anywhere near that an I live jus fine 😂an anyone who tries to argue that are the ones that this comment is meant for

    • @MoneyWithMark69
      @MoneyWithMark69 16 วันที่ผ่านมา

      I agree. People are always wanting to live a lifestyle that's slightly better than their paychecks

  • @MrZiad04
    @MrZiad04 19 วันที่ผ่านมา

    Neo card in Lebanon is black and dark green

    • @MoneyWithMark69
      @MoneyWithMark69 19 วันที่ผ่านมา

      Hmmm I think that is a different company

  • @MartinMcClellanGT
    @MartinMcClellanGT 19 วันที่ผ่านมา

    It all changed now. WS offers now multiple cash accounts

    • @MoneyWithMark69
      @MoneyWithMark69 19 วันที่ผ่านมา

      Yes they do!!! So exciting

  • @appmania2180
    @appmania2180 25 วันที่ผ่านมา

    Hi amazing video mark! I'm planning to switch to WS for savings. I've had a chequing's account since Highschool, might be a silly question but just wondering how do I go about transferring a large sum of money saved in my chequing's account (CIBC) into the wealth simple account? Thanks again!

    • @MoneyWithMark69
      @MoneyWithMark69 25 วันที่ผ่านมา

      You can connect your bank account to Wealthsimple and can deposit large sums of money that way!

  • @AntiMason
    @AntiMason 27 วันที่ผ่านมา

    Sick stache

  • @marissawedge-my5nd
    @marissawedge-my5nd 28 วันที่ผ่านมา

    Do u still feel the same

    • @MoneyWithMark69
      @MoneyWithMark69 28 วันที่ผ่านมา

      No! Things have changed a LOT since I made this video. New updated video coming out soon 😁

  • @nancyhR570
    @nancyhR570 หลายเดือนก่อน

    Hi! Is the interest rate 4% applied all year long? I know usually banks offered good rates for a certain time, so not sure if it’s the same for WS😅

    • @MoneyWithMark69
      @MoneyWithMark69 หลายเดือนก่อน

      It is NOT a promotional rate (like how the big banks trick you) but the interest rate can change depending on what interest rates and bond yields do (like everywhere)

  • @arungupta9140
    @arungupta9140 หลายเดือนก่อน

    Is the HISA different than the Cash account?

  • @julientousignant9652
    @julientousignant9652 หลายเดือนก่อน

    Thanks for the video!! I'm finally doing the big shift by dumping my main chequing account with TD after over 20 years and switching to WS. Hope everything goes smoothly

    • @MoneyWithMark69
      @MoneyWithMark69 หลายเดือนก่อน

      Amazing! I also switched from TD. soooo happy not to be with the 🤬 big banks anymore

  • @Lil_Jhay
    @Lil_Jhay หลายเดือนก่อน

    Can you used koho into hotel? Cuz they want credit card for a 200 deposit to get the room and i dont have any credit card.

  • @MoneyWithMark69
    @MoneyWithMark69 หลายเดือนก่อน

    💰Get $25 FREE when you use my code KBYLNW www.moneywithmark.ca/go/wealthsimpletrade/

    • @arpitsinghmadaan4870
      @arpitsinghmadaan4870 หลายเดือนก่อน

      Can you please give me you email id for the referral I need it to manually apply the bonus code didn't work for me

  • @jordanotterbein9103
    @jordanotterbein9103 หลายเดือนก่อน

    Can you use your koho card for hotel stays. I don't have a credit card of any kind.? Most hotels won't except debit cards with deposit anymore

    • @MoneyWithMark69
      @MoneyWithMark69 หลายเดือนก่อน

      I'm not sure I haven't tried it at a hotel yet. BUT. I do know you can book hotels with KOHO through Expedia.

  • @PedroGarcia-cb7xm
    @PedroGarcia-cb7xm หลายเดือนก่อน

    What if you dont have proof of purchase

    • @MoneyWithMark69
      @MoneyWithMark69 หลายเดือนก่อน

      I didn't have a receipt. Just gave the date and store I got them

  • @xavierracine-bechard8749
    @xavierracine-bechard8749 หลายเดือนก่อน

    Would you say Cash Account card is better than Wise for traveling? In termes of conversion/overall fees

    • @MoneyWithMark69
      @MoneyWithMark69 หลายเดือนก่อน

      Yes for traveling it's the best card in Canada in my opinion

  • @nicholastang1217
    @nicholastang1217 หลายเดือนก่อน

    i think its just the nature of TD direct investing, same as RBC quarterly $25 dollars if you dont have 15K combined. Its in the terms n conditions.

    • @MoneyWithMark69
      @MoneyWithMark69 หลายเดือนก่อน

      Brutal! I hate the nickle and diming the big banks do with fineprint

  • @cartervandersteen4873
    @cartervandersteen4873 หลายเดือนก่อน

    This has helped a lot! Thanks Mark!

  • @BOOYAH727
    @BOOYAH727 หลายเดือนก่อน

    you forgot to mention that if you you have self employment income or property income you have pay $80 for Turbo tax which is a rip off, but in UFILE is included and you can file 4 returns plus one free for low income. For $24 Ufile is unbeatable. how about wealthsimple?

    • @MoneyWithMark69
      @MoneyWithMark69 หลายเดือนก่อน

      Wealthsimple is the same price (free / donation) for self employed people

  • @yxmichaelxyyxmichaelxy3074
    @yxmichaelxyyxmichaelxy3074 หลายเดือนก่อน

    The TFSA is not taxed, therefore you would receive the full interest. My Scotia high interest Momentum plus savings account IS taxed, wiping out my interest instantly.

  • @yxmichaelxyyxmichaelxy3074
    @yxmichaelxyyxmichaelxy3074 หลายเดือนก่อน

    TFSAs are covered by insurance. CDIC. Stock market is not.

  • @yxmichaelxyyxmichaelxy3074
    @yxmichaelxyyxmichaelxy3074 หลายเดือนก่อน

    I at one point wanted to withdraw $1000. They forced me to fill out multiple forms just to access my own money.

    • @MoneyWithMark69
      @MoneyWithMark69 หลายเดือนก่อน

      That should be illegal!

    • @yxmichaelxyyxmichaelxy3074
      @yxmichaelxyyxmichaelxy3074 หลายเดือนก่อน

      @@MoneyWithMark69 They told me this is required so that the government knows that I have taken $1,000 out of my TFSA. They explained that since I have a limit to how much I can invest into an TFSA, they need to inform the government that they can remove $1,000 from my total eligibility for that year. So, instead of being able to place the full maximum of $6,000 into the account the next year, I can now only invest $5,000 as eligible.

    • @yxmichaelxyyxmichaelxy3074
      @yxmichaelxyyxmichaelxy3074 หลายเดือนก่อน

      @@MoneyWithMark69 My credit cards too are a joke. I have bedn looking elsewhere, like the Rogers Mastercard. The Canadian Tire Mastercard.

  • @sethcockram
    @sethcockram หลายเดือนก่อน

    I'm new at stack market my 1th I try was CDR four me I do not care what one pic beacuse I buy 4 stock set it and four get it CDR is new thing if that work out four me I will keep using CDR ..

  • @monishparwani9246
    @monishparwani9246 หลายเดือนก่อน

    Killer video Mark, was looking for this kinda info. Keep the videos coming 👍🏾

    • @MoneyWithMark69
      @MoneyWithMark69 หลายเดือนก่อน

      Appreciate the feedback! Welcome to the channel

  • @user-hn4ki8su6e
    @user-hn4ki8su6e หลายเดือนก่อน

    How can an average someone in Canada provide for his wife and pay all the bills on his own. Have anyone looked at the prices recently?

  • @Ibrahimk.74
    @Ibrahimk.74 หลายเดือนก่อน

    Hi mark, would you recommend wealthsimple or neo to invest my cash in HISA/TFSA? What about the cards? I have cobalt for food purchases and pc for gas and groceries at no frills/loblaws. Wealthsimple I feel like has a nicer card 😅

  • @hergettoseastutorial
    @hergettoseastutorial หลายเดือนก่อน

    There is a joint account now!!! 🎉🎉

  • @Emma-ud2pj
    @Emma-ud2pj หลายเดือนก่อน

    just a man pays everything, or he is miserable. that's the true reality that you hide from.

  • @CanucksLionsJays
    @CanucksLionsJays หลายเดือนก่อน

    Mutiple accounts now Mark ! They keep improving the system and software which is great.

    • @MoneyWithMark69
      @MoneyWithMark69 หลายเดือนก่อน

      I saw that! Such a huge upgrade. I selfishly think that they watched this video and realized it 😂

  • @KartikPuri-tb7yj
    @KartikPuri-tb7yj หลายเดือนก่อน

    Can it be used for pre-authorized debts like car payments or mortgage?

  • @lisafraser9979
    @lisafraser9979 หลายเดือนก่อน

    Is it the right place to hold crypto?

  • @OutThere5
    @OutThere5 หลายเดือนก่อน

    The best move I ever made was to get rid of the big 4 banks, and get them out of my life. Scotia (the worst) CIBC BMO TD Go with your local provincial credit union bank! They treat you so much better, and it supports your province, instead of a corporate bully like scotia

  • @caboose4885
    @caboose4885 หลายเดือนก่อน

    I appreciate you kind sir.

  • @galaxytrio
    @galaxytrio 2 หลายเดือนก่อน

    Thanks, Mark. Good suggestions.

  • @MoneyWithMark69
    @MoneyWithMark69 2 หลายเดือนก่อน

    🎁 EXCLUSIVE discount 🎁 autogrowthacademy.com/go/google-workspace/ Get 10% off standard package using my code X67A4UPUEA4UVHM

  • @jayman1462
    @jayman1462 2 หลายเดือนก่อน

    nice!

  • @Mr90sMusiclover
    @Mr90sMusiclover 2 หลายเดือนก่อน

    Koho was awful, terrible, it takes 2 hours for an E transfer to go through, the customer service is slim to nil, and they have always sucked, yes there are fees if a company tried to take money that isn't there, you get dinged with a $5. Charge they never ever helped when I needed it ppl, do not use koho

  • @gokulsundar4300
    @gokulsundar4300 2 หลายเดือนก่อน

    Hi , Any idea about Moomoo?

    • @MoneyWithMark69
      @MoneyWithMark69 2 หลายเดือนก่อน

      Never heard of it - do you use it?

    • @gokulsundar4300
      @gokulsundar4300 2 หลายเดือนก่อน

      @@MoneyWithMark69 No, I am not personally using it. I heard from other influencers. They are rating it high.

  • @tonyk6154
    @tonyk6154 2 หลายเดือนก่อน

    i'd be very afraid of moving everything from my current back to WS. i have a WS account for my investing but thats it...

    • @MoneyWithMark69
      @MoneyWithMark69 2 หลายเดือนก่อน

      What are you scared of?

    • @tonyk6154
      @tonyk6154 2 หลายเดือนก่อน

      @MoneyWithMark69 Used Scotiabank for so long its routine. Also when I need something fixed or have any problem I can go get it fixed or call someone, WS I don't think it's that easy..LOVE WS for investing but anything else I don't have the confidence yet. Maybe one day

    • @MathieuGauthier-fj9lm
      @MathieuGauthier-fj9lm หลายเดือนก่อน

      @@MoneyWithMark69 how is wealthsimple for withdrawing your money? i heard they can be sketchy

  • @BlueAndAurora
    @BlueAndAurora 2 หลายเดือนก่อน

    My koho is still 695 but when I did equifax snapshot check credit it’s 703?

    • @MoneyWithMark69
      @MoneyWithMark69 2 หลายเดือนก่อน

      There will be slight variations on your score depending on who is checking it. Equifax, TransUnion and FICO scores are all slightly different because some companies report to one and not the other. If you're ready to improve your score you can do so here www.moneywithmark.ca/credit-score-course/

  • @DanWalshTV
    @DanWalshTV 2 หลายเดือนก่อน

    Nice video! Just one small correction at 4:45 - Wealthsimple does actually have a round-up feature. You can have all Cash purchases rounded up and put towards whatever account you have setup for cashback (this includes any of your self-directed or managed investment accounts). With that said, they need to do a much better job of displaying such features. While I like the overall design of their app, I find many options are hidden in nested menus and thus many people don't even know these options exist. There's definitely room for UX improvement in that regard.