Personal Finance Canada

1344 readers

1 users here now

Come and discuss anything related to personal finance, directly or indirectly, with other Canadians!

founded 2 years ago

MODERATORS

affairesdepiasses

Is wealthsimple better than EQ bank? (lemmy.pe1uca.dev)

submitted 1 year ago by [email protected] to c/personalfinancecanada

8 comments fedilink hide all child comments

I've seen a lot of people mentioning EQ bank to have the emergency save since it offers 2.5% interest.

Just recently knew about wealthsimple with 4% https://www.wealthsimple.com/en-ca/spend

So I'm wondering if you guys know any drawback on saving in wealthsimple instead of EQ.

you are viewing a single comment's thread
view the rest of the comments

[–] ashtrix 5 points 1 year ago (1 children)

Wealthsimple only started offering that recently. For a long time it was less than EQ. I have used both and no drawbacks to it unless you need support, then wealthsimple is slower.

[–] [email protected] 5 points 1 year ago* (last edited 1 year ago)

Depends how much you have with them. >$100k gets priority support I believe.

And I moved away from EQ half because of their plummeting savings rates, and half because of their abysmal support and trash app/website. Even with <$100k, Wealthsimple support is better in my experience.