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/wealt...
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/wealt...
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/hig...
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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
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*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 It may be incorrect, outdated, inaccurate, or reflect personal opinions.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.

[@MoneyWithMark69]

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

[@arpitsinghmadaan4870]

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

[@julientousignant9652]

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]

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

[@arungupta9140]

Is the HISA different than the Cash account?

[@appmania2180]

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]

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

[@nancyhR570]

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]

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)

[@Ian-of9oi]

How do they pay the interest? Monthly?

[@MoneyWithMark69]

Yes monthly!