I've been using Wealthsimple for over 8 years! Here is my top pros & cons on all of Wealthsimple's products; investing accounts (TFSA, RSP, FHSA), high interest savings account, crypto 🪙, credit card 💳, and tax filing software.

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Wealthsimple is a Canadian fintech company based out of Toronto, ON. They have one of the highest interest savings account, no-fee cash back pre paid credit cards (with no foreign transaction fees), managed investment accounts, and self-directed investment accounts (TFSA, RSP, RESP, FHSA and non-registered investment accounts). AND they have the best tax filing software in Canada.

Wealthsimple Pros:
- No-fee self directed investing accounts with TFSA, RRSP, and FHSA account types
- High interest savings accounts & the best tax filing software in Canada!
- Earn 1% cash back with all spending
- $0 account fees & $0 trading fees
- No foreign exchange fees (great for travelling)
- Corporate / small business savings & managed investing accounts available
- E-transfers, direct deposits, auto contribute cash back into your investment accounts, and bill payments all possible!
- Your cash is held in trust with a CDIC member institution. Which means you have $300k of deposit insurance on your money.

Wealthsimple Cons:
- No way to create multiple savings accounts – you only get 1 high interest savings account.
- Cash account is quite limited in terms of features. No spending analysis, no savings accounts, no savings features like round ups, and you can’t even open more than 1 account, so there’s no ability to create “goals”
- Remarkably complex to use – for an app that has “simple” in the name.
- Trying to be the “go to” finance app for Canadians, but lacking in the spending & insights

My IG:
@MoneyWithMark
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TikTok:
@MoneyWithMark

Chapters:
0:00 What is Wealthsimple
1:21 Pros of Neo
2:25 Get $25 Bonus
3:50 More Features
4:02 Cons of Wealthsimple
5:50 My Review Rating

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Liability Disclaimer: [ Ссылка ]
*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 It may be incorrect, outdated, inaccurate, or reflect personal opinions.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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