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Money With Mark
Canada
เข้าร่วมเมื่อ 18 ก.ย. 2019
Mark is a lifestyle entrepreneur that runs an marketing agency. I believe the only way to financial freedom is by building a brand that fuels our lifestyle, not drain it. Find reviews, comparisons, and helpful tools to start, grow, and sustain your lifestyle brand. I cover topics like banking, fintech, LLC formations, credit cards, marketing strategies, marketing tools, business software and more.
If this sounds interesting to you then welcome to my channel!
If this sounds interesting to you then welcome to my channel!
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.
💰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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I do get transfers from many other people and I am wi koho
Thanks!
Anytime! Let me know how you get on with neo
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.
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...
I think that's a HORRIBLE use of your tfsa. Big wasted opportunity.
How do they pay the interest? Monthly?
Yes monthly!
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
Yes I heard! I believe there are no fees to deposit as they only take money at Canada post locations
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
Say the 3 card in the first minute. Later
It's called a countdown 😅
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
Ah! Thank you so much for the feedback!!
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
Lifestyle creap is a real struggle
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
Go use Wealthsimple. It's my fav. You can get $25 bonus if you use my code KBYLNW 🎁
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
I agree. People are always wanting to live a lifestyle that's slightly better than their paychecks
Neo card in Lebanon is black and dark green
Hmmm I think that is a different company
It all changed now. WS offers now multiple cash accounts
Yes they do!!! So exciting
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!
You can connect your bank account to Wealthsimple and can deposit large sums of money that way!
Sick stache
Danke
Do u still feel the same
No! Things have changed a LOT since I made this video. New updated video coming out soon 😁
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😅
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)
Is the HISA different than the Cash account?
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
Amazing! I also switched from TD. soooo happy not to be with the 🤬 big banks anymore
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.
💰Get $25 FREE when you use my code KBYLNW www.moneywithmark.ca/go/wealthsimpletrade/
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
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
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.
What if you dont have proof of purchase
I didn't have a receipt. Just gave the date and store I got them
Would you say Cash Account card is better than Wise for traveling? In termes of conversion/overall fees
Yes for traveling it's the best card in Canada in my opinion
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.
Brutal! I hate the nickle and diming the big banks do with fineprint
This has helped a lot! Thanks Mark!
Anytime!
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?
Wealthsimple is the same price (free / donation) for self employed people
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.
TFSAs are covered by insurance. CDIC. Stock market is not.
I at one point wanted to withdraw $1000. They forced me to fill out multiple forms just to access my own money.
That should be illegal!
@@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.
@@MoneyWithMark69 My credit cards too are a joke. I have bedn looking elsewhere, like the Rogers Mastercard. The Canadian Tire Mastercard.
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 ..
Killer video Mark, was looking for this kinda info. Keep the videos coming 👍🏾
Appreciate the feedback! Welcome to the channel
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?
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 😅
There is a joint account now!!! 🎉🎉
just a man pays everything, or he is miserable. that's the true reality that you hide from.
Mutiple accounts now Mark ! They keep improving the system and software which is great.
I saw that! Such a huge upgrade. I selfishly think that they watched this video and realized it 😂
Can it be used for pre-authorized debts like car payments or mortgage?
Is it the right place to hold crypto?
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
I appreciate you kind sir.
Anytime!
Thanks, Mark. Good suggestions.
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nice!
Thank you!
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
Hi , Any idea about Moomoo?
Never heard of it - do you use it?
@@MoneyWithMark69 No, I am not personally using it. I heard from other influencers. They are rating it high.
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...
What are you scared of?
@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
@@MoneyWithMark69 how is wealthsimple for withdrawing your money? i heard they can be sketchy
My koho is still 695 but when I did equifax snapshot check credit it’s 703?
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/
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.