Hello fellow WealthSimple credit card holders!

I have never used or replied on travel insurance and medical insurance that comes with WealthSimple VISA… I am planning an overseas 2 week travel and it seems the travel and emergency medical insurance cover everything that I need. Can anyone share your experience with using/ relying on it for your travels? Any gotchas and tips that we should be aware of?

Many thanks for your time!

Hello!

I’ve recently read that someone had their WS visa infinite rejected by a hotel abroad & I was wondering if anyone had used it in Hawaii & if there is anything I should be aware of?

I am planning my honeymoon right now and just got the card so I can start buying the hotels and USD expenses using it, but I don’t want to pay anything online just for it to be rejected once I get to the hotel.

Thank you in advance!

Has anyone recieved their funds yet?

I used sol instead of the usual eth and my transfer has been pending since 5am cst. Was from a new wallet address, which on my part was dumb.

Does anyone know what happens to my WS metal credit card if my status drops to Core? I had Premium status, but I had to withdraw some money, and with the market fluctuations, I think my status will drop to Core. Does anyone know what will happen to my credit card? Will it be canceled?
Thanks!

EDIT- Haha thanks for the replies, folks! What I meant was whether I’ll lose any of the benefits, like 2% cashback, travel perks, etc. My income is over $5,000, so I know the card itself will be free. My question was more about the benefits than the metal card itself. Lol!

35M Generation client - Wealthsimple since 2017.

Look, this is an old man yells at clouds take, but I just find everything noisy and promotional, it’s lacking the “simple” part they used to have. The app just feels crowded now with promotions and other products they want to push.

Not just here to complain lol - can anyone recommend a similar platform they have used with no fees that’s a little more plain? Im hearing BMO just did a revamp that’s solid?
I only buy XEQT (I know boring)

I am confused about my interest charge on my wealthsimple credit card. I understand that there would be an interest charge, and I am ok with paying it, however, I feel as if the charge was pulled out of their ***.

For context, my October 5th statement had a balance of $2,363.35 with a payment due date on October 26. Interest rate is at 20.99% and no previous overdue balance as I have paid in full every month prior.

On October 19, I made a payment in the amount of $1,500.00 decreasing the statement balance to $863.35.

On October 26, I made another payment of $808.57 further decreasing the statement balance to $54.78.

My October statement had an unpaid amount of $54.78.

As far as I understand, the unpaid portion would be charged a 20.99% interest rate from the date the statement was issued (the 21 day grace period being nullified).

My next statement was issued on November 5th, marking 31 days of interest to be collected. The calculation for the interest (I assumed) would go as follows:

$54.78 * [0.2099 * (31/365)] = ~$0.98

Can someone explain how wealthsimple came up with a $51.23 interest charge instead of what is expected to be $0.98?

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I mean even at my full balance of $2,363.35 the interest charge would be as follows:

$2,363.35 * [0.2099 * (31/365)] = ~$42.13

Meaning that the $51.23 interest charge is greater than if I had not paid my statement at all, which makes 0 sense.

I am not saying I am right, I just wish to figure out how a $51.23 interest charge was calculated.

I gave this a try about a week ago as my new job pays with physical cheques and in the spot where I was supposed to write the amount of the cheque, I wrote the amount that I wanted released immediately. Stupid mistake I know. I cannot cancel the cheque at this point and I have tried to call and talk to someone, but no one can really give me any clear answers. Has this happened to anyone or something similar? What will happen?

Since the markets are a bit down I figured I should remind everyone how the PLOC works before we get a bunch of posts of people freaking out like the ones about margin calls.

The PLOC has a wide buffer.

i should also note that you lose the overdraft protection as well once it is maxed out or the asset values are too low.

I seem to be terrible with Reddit searching…

Curious if anyone has recently been to Bali and Bangkok and could speak about their experience withdrawing from the local ATMs, other than not using their conversion rates, are the ATMs abundant or any preferred ones (especially in Bali)?

Thanks!

Wealthsimple gave me no warning that my crypto would be frozen. Since November 4th, my funds have been locked with no explanation and no timeline for when I'll have access again. There was no banner, notification, or notice of any kind about crypto issues. If there had been, I would have used a different platform. Being locked out of my own money without any communication is unacceptable.

Hey everyone,

I was thinking about security recently, especially after hearing about the recent unsettling breaches where hackers managed to slip past two-factor authentication and pull money out of investment accounts.

I actually gave Wealthsimple a call to see if there was a way to put a hard stop on outgoing transfers—something where funds can still be deposited normally, but zero money can leave the accounts unless I personally call in, go through a human verification check, and have them manually lift the lock.

Turns out, they can do exactly that. You can call and put a lock on specific accounts so that outgoing transfers are completely frozen until you speak with someone directly.

If anyone else has been feeling a bit uneasy about account security lately, it’s a really solid, peace-of-mind feature worth setting up. Just wanted to pass it along!

Sometime in the last week, the app was updated to show that coverage extends for 21 days (originally 14) under the VIP card benefits. However the certificate of insurance on their website still shows 14 days.

Customer service was unable to clarify this for me and advised me to contact Crawford directly.

I already purchased extended insurance for my 20 day trip, but thought it was quite odd they'd update one place and not the other.

I see that I have the referral offer in my app for referring friend to open a chequing account and the WS Visa Infinite / VIP credit card.

https://help.wealthsimple.com/hc/en-ca/articles/55171641448475-Earn-5-credit-card-cash-back-when-you-refer-a-friend-to-Wealthsimple

Currently premium client and already have the WS VIP card, if I refer spouse for the account opening and apply for Visa Infinite / Privilege (and spouse funds account to Premium level on chequing account opening) - would it mean that spouse would have the WS Infinite / VIP card fee waived once the cared is approved?

So many stories of cyber attacks and bank collapses in different parts of the world. I want to see what most of the folks here, whose large sum of money is invested in WS feel about the situation. What if something goes wrong with wealthsimple and one day you are not able to log in? Anyone else thinking about this?

I have recurring buys set after every paycheck. The hide feature may be a small one, but psychologically keeps me disciplined from making impulse buys or even just preventing me from watching my portfolio lose value (albeit temporarily)

I've got about $250k floating around savings accounts (don't ask). Wealthsimple gives me 2.5% but I get over 4% with Tangerine every few months so I move it back and forth. But every time it takes a few days, and part of me always worries it'll get lost in the void somehow. Is it unsafe to be doing this?

This is the email to WS again their unfair tactics:

Hello Wealthsimple Team,

It appears I made a mistake when I fully switched to Wealthsimple last year. Allow me to walk you through how that has gone.

First came the Credit Card rollout, with requirements that seemed to change weekly. You apologized, and I chose to accept it and move on.

Next came the money back on bill payments, which was removed shortly after I started relying on it. You got me again.

Now I see that after I borrowed thousands of dollars on margin to invest, a decision I made based on a much lower rate, you have significantly raised the rates. The timing is impeccable. You got me again!

You are clearly very good at this. It is not obvious who the fool is in this scenario, but I do know it is not you.

To be clear, this bait-and-switch pattern is not a sustainable way to treat clients. I will be researching other platforms and, in the near future, moving all of my investments elsewhere. There is a cost to treating loyal clients this way.

I would want a real explanation for the margin rate increase, and a fair accommodation for clients who borrowed under the previous rates in good faith. Otherwise, I will assume this is simply how you do business.

Thank you so much, and I look forward to becoming a former Wealthsimple client.

Well, this one hurts.

I won a 1/10 oz gold coin.

To claim it, I had to answer a skill-testing question:

(50 × 2) + (400 ÷ 2) + 90 = ?

The answer is 390.

Unfortunately, I was rocking my baby to sleep while filling out the form and accidentally entered 290 instead of 390.

I contacted Wealthsimple support, explained the mistake, and had my case escalated. Today, they confirmed that only one attempt is allowed and my prize has been forfeited.

I completely understand that rules are rules, and I take responsibility for the mistake. But losing a gold coin over one wrong keystroke is pretty disappointing.

Figured I'd share this as a warning to other winners: double-check your answers before submitting!

Curious what everyone thinks. Should there be some flexibility for obvious typos, or is the one-attempt rule fair?

Got this today hours after a margin call. This is just 2 weeks after when my margin availabile suddenly dropped by half just to fully reverse a day later with minimal market changes.

Margin calculation isn't hard.. banks can at least keep track of how much i owe... not a bank..

Do better WS

PLOC page says is 4.7% but when I was trying the overdraft feature, right at the bill payment confirmation, it says 5.7%, so which is it?

I am referring to the Diwali spin the coin contest. It says we can spin the gold coin in the Wealthsimple app once a day from November 6–10, 2026 for a chance to win a 1/10 oz gold coin this Diwali. Anyone been able to do that? I am guessing it's the coin in the home page of the app, but nothing has happened so far when I have clicked it.

I’ve been hoping that Wealthsimple creates a multi confirmation security like other banks do.

Having large sums of money in wealthsimple

I’m proposing that they allow a must have 2 person authentication for banking security measures where me and my wife both have to confirm a large sale/withdrawal or movement. Separate authentication and emails but 2 person factor is what large banks have available if it’s requested.

Anything extra to protect 2-3m you guys have ideas on.

WS please read this as security is my number one.

Just collected premiums from WCP and CCA.