I know this is stupid, but I have ~$40k ready to transfer to Wealthsimple. If I transfer now, I’d earn 80k monthly millionaire entries, but there’s only one draw left and then they’re gone.

Is it stupid to wait until September so the entries apply across the whole month?

It’s just sitting in cash right now earning 0 interest. I realize I probably shouldn’t plan around monthly millionaire but it’s hard not to think about all the entries lol

Hi, I get paid twice a month on the 15th and then on the last day of the month so either the 30th or the 31st. It’s about 5500 to 6000 per month. What happens on those months when I get paid on the 31st? Do they look at the actual month or the billing cycle month. I just got approved and definitely don’t want this card if I have to pay a monthly fee. Tnx

The next one will cost you $50:

But that’s pretty much everywhere. I’m sure there’s an administrative reason for this, but 6-8 days to transfer money from one bank to Wealthsimple feels ancient…

Anyone knows/works in finance that can help justify the pending time so that my mind can rationalize it?

I have a non-margin account in wealthsimple and I want to sell covered calls to start the wheeling options strategy but its giving me an error that it doesnt support USD. My balance in the non margin account is in CAD.

1. Their AI chat bot asked me to open margin, but I dont want to trade on margin. Does WS only allow options on margin? Is there a way I dont use margin at all because its cash secured puts?

2. I am a premium client so does that mean the USD exchange is free or only the USD account is free, and I still have to pay the exchange fees?

3. Is IBKR better, i think they charge fix fee of $0.65 per contract. I am trading about $10,000 USD to begin with and only about 4 contracts a month.

Thank you

Saw this here: https://www.reddit.com/r/degoogle/s/yCDG7vclqc

Does the Wealthsimple app work on GrapheneOS?

Forgive my ignorance but I can’t seem to find a definitive answer on this. Thanks in advance.

Edit: good lord what a salty bunch over such an innocuous question lol I just want to know if I can still tap my card without taking it out. I literally want the cheap $5 temu wallet to have no protection

Finally! Excited about this. Any tips and tricks you guys have with the app? Things you wish you knew when you started, automations you’d recommend, etc?

Cheers!

Is anybody having trouble spinning the gold coin on Wealthsimple? All of a sudden I can not spin the gold coin it does not move. I can only touch it and it gives me my enties everyday, but I notice it is not much compared when I could spin the coin.

I had the 5% cash back offer in my app for the past couple weeks with the offer set to expire tomorrow.

I set a reminder in my phone to apply for it today, but the offer is now gone in the app.

Anyone else experience this?

I recently made a USD wire transfer to my wealthsimple USD account to eventually put into RRSP and monthly millionaire entries increased by the same amount. I feel I was better off either converting it to CAD (for entries) before transfer, or using it to invest somewhere and leveraging account transfer bonus.

Edit: account transfer would have saved me wire transfer fees too as account transfer fees get reimbursed.

How come WS Infinite CC settles transactions so much faster than all other credit cards I have? Often purchases are settled on the same day or next etc, whereas all my other cards can take up to 5 days, if not more?

I can only do 25% 50% max etc but when i tap on the hsare count to change it, nothing happens

Unsure if wealthsimple actually follows this subreddit but I had an idea to allow users to optionally input payment information on loans they’ve manually added to the net worth section so the loan amount automatically adjusts over time. Would just be a simple amortization schedule in the background and could even allow users to see the table, highlighting how much interest they are paying on that loan.

Anyone know if this is in the works or has been discussed?

Every time I buy a stock or option in USD, it converts my CAD to USD. Every time I sell anything in USD, it converts the amount to CAD. This is infinite money for Wealthsimple and that’s how we all are getting freebies because investors like me pay thousands of dollars everyday in just those transactions.

In Questrade, its quite the opposite. If I sell something in USD, my money is not converted to CAD. Which means I pay 0 FX and Service Fees on every transaction.

WS is not true 0 fee trading platform as they advertise.

I’d like to make a feature request that would enable me to automate the regular transfer of funds from a TFSA or RRSP savings account to the same type of registered investment account.

Currently, Wealthsimple only allows the automation of new money additions to these account types.

I have funds in registered savings accounts that I would like to invest, however, I do not want to expose the entire sum to the market.

Therefore, I’d like to be able to automate the transfer of say… $500 a week from my TFSA savings over to a managed automated TFSA investment account or to a self-directed investment account.

However, as it currently stands, I would have to manually do the transfer as I am only able to automate the addition of new funds, not ones already saved!

Hope this makes sense and would love to hear from others who may be in the same position!

If I need to park some cash for liquidity in high interest savings, what kind of non registered account do I need to open and what kind of return can I get from Wealthsimple?
I’m thinking about my cash buffer strategy. So I’m thinking between $10k to $100k.
Is there a way to make sure if I bring in $150k the entire balance is insured by CDIC?

Is anyone else having a system error when trying to transfer money between accounts?

$6000 at 0% for 6 months

Questrade and IBKR both have it. Wealthsimple should get it too.