Is Your Money Safe? Here's How You Can Protect Your Money!

[@stephandden]

Happy Financial Literacy Month! 💰 Do you have any questions about CDIC deposit protection? Ask away below!

[@bronteassadzadeh8413]

You guys are the best! ❤️

[@stephandden]

🙏🏿🙏🏻 thank you so much!

[@Neelroa]

The beautiful Steph spitting facts yo!

[@stephandden]

🙌🏿🙌🏻

[@laselecta9012]

Ty for the information

[@stephandden]

Of course! Thank you for watching 😊

[@maximilian7815]

Do you have a video on credit unions?

[@stephandden]

Not yet, but it's on our list! Thank you for the suggestion 😊

[@brittanytyler2620]

I think the question I have is what happens if you have a lot of money. For example, you mention the $100k amount, but a lot of people are going to have way more than that, so is that money just doomed to be unprotected unless you have multiple accounts at multiple banks?

[@AsheSinclair]

Your bank likely holds your money at a partner institution who is also CDIC insured. They often do this up to $400,000 to $500,000 per customer. Wealthsimple does this with up to ten partner institutions to cover up to a $1,000,000 ($1 million) for Wealthsimple Cash accounts per customer.

[@AhhhSukeSuke]

​@AsheSinclair Interesting. Any idea how I can lookup this info for royal bank?

[@Dor_alien]

Definitely, peace of mind knowing my Wealth Simple investments are protected. Thanks Steph & Den.

[@stephandden]

Of course! Thank you so much for watching + your comment 😊

[@29typhus]

Hi guys, fantastic video. Not sure if your channel would cover this but wealthsimple has a crypto account. Would you guys cover this? How it works? What it entails? With Trump getting in and endorsing digital assets, this could be an entire market ready to explode in the near future for investors. Keep it up and love the content!

[@andrewpearson2131]

the TLDR takeaway is "money" in its various forms is protected (within limits) in Canada and that crypto "currencies" are not "money" and are not protected by anything except wishful thinking

[@stephandden]

Thank you for watching + for your comment! 😊