Wealthsimple Slams Big Bank Exit Fees, Pushes Ottawa to Step In | iPhone in Canada
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Canadian fintech Wealthsimple is taking aim at the fees big banks charge when customers move their money. The Toronto-based company told Ottawa in this week’s budget consultation that transferring savings from accounts like RRSPs or TFSAs has become expensive. A decade ago, those charges were often nothing or capped around $75. Today, some banks ask
  • sbv@sh.itjust.worksEnglish
    12·
    5 days ago

    This is a blatant PR stunt by a small player looking to differentiate it’s established competition. And I love it.

  • miss_demeanour@piefed.caEnglish
    132·
    6 days ago

    Wealthsimple is great for being in control of most aspects of your wealth.
    Highly recommend.

    • Victor Villas@lemmy.ca
      8·
      5 days ago

      Just don’t bite the bait of alternative investments. Stay away from options and trading and you’re good.

      • garbagebagel@lemmy.world
        8·
        5 days ago

        Not OC but I used to use them for small investments back when I had money to play around with. It is a really straightforward platform and very beginner friendly.

        I also switched to using them for taxes because turbotax is dogshit. They have a pay what you can/free model and they’re again, super user friendly, and have lots of tips on maximizing your return.

        I haven’t tried any of their other banking things but from my experience with them over the last few years, I’d say they seem pretty decent.

          • puppinstuff@lemmy.caEnglish
            5·
            5 days ago

            Definitely worth a look. They’ve been consistently one of the highest savings account rates and their visa card gives 2% cash back on everything.

            • masterofn001@lemmy.ca
              2·
              5 days ago

              I have a self directed tfsa which is doing OK.

              Free trades. Fractional. Auto re-investing the dividends.

              Super simple. Though their search is a bit lacking.

              And their tax fillng… Holy shit it’s the easiest tax filing software I have ever used.

              The somewhat recent promotion to get a free pair of airpods was funny.

              Deposit $100

              Thousand.

              Maybe it was a commentary on the ridiculous overpriced pieces of plastoc.

              But hey, can’t give dictators giant 24k gold statues of themselves by selling non cult priced items.