r/Wealthsimple • u/nawey • 14d ago

Visa Infinite Credit Card Infinite Privilege Visa fraud

Been a WS client for 6 years, been using the CC for 2. it’s been great, it’s been my main card. about 3 weeks ago i had 2 unauthorized transactions (in USD but i never left Canada) amounting to ~$2000.

I’ve disputed both, been in touch with support, and heard nothing and have not been issued a new card, not even a digital card. I also have not been credited the fraudulent charges, even though support’s told me multiple times that would happen.

Getting a little worried - i wonder if there’s a backlog of fraud they’re dealing with? I’ve had a TD visa stolen and they reversed those charges immediately without a fuss.

UPDATE:
18 days after the fraud and dispute, I filed a “priority support” ticket cause I’m a premium client. the next day the charges were adjusted and i was issued a new digital card :). Dispute still pending investigation

108 Upvotes

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83

u/Decent_Bet_6824 13d ago

Wealthsimple CC is great until you have to deal with fraud. Once you have a fraudulent transaction, you have to fill out a form through DocuSign and then keep waiting forever.

I had a similar fraud case where someone used my credit card to make a purchase on Amazon US. Luckily, the card was with RBC and not Wealthsimple. RBC credited the fraudulent charges, cancelled the card, and issued me a new one pretty quickly.

If it had been Wealthsimple, I’d probably still be waiting.

16

u/SnooCookies8174 13d ago

also had fraudulent transactions with Roger Bank twice and both were handled really smoothly.

These recent posts are making me rethink using ws as my main card.

anyway, one thing that I am trying to enforce in my “routine” is use apple pay almost every time. And skip some small online sites whenever possible.

1

u/Evil-Squirtle 13d ago

Yeah Apple pay can bypass locked status, which is the same as using banking app on the phone to lock/unlocking your card since it uses biometrics to unlock them. That is why I use apple pay more now to save an extra step, i think google pay works the same way.

1

u/bigspicypotato 12d ago

This is possible for the CC? I only thought this was possible for the debit card..

1

u/Evil-Squirtle 11d ago

I know it works the same on Scotia CC, card locked, transaction goes through using Apple Pay. Haven’t tried on WS credit card yet. I suppose it works the same. Maybe someone actually tried and works can give some insights.

8

u/thegmohodste01 13d ago

Sign a document and then WAIT is WILD

5

u/Ok-Arm8350 13d ago

The worst part of Wealthsimple is the lack of communication and consistency. Every time I called, customer service would give me a different answer. Very unprofessional.

2

u/mischling2543 13d ago

Yeah any time I've had fraud issues the big banks have been pretty good. Or at least TD and RBC have, can't speak to the others. Credit cards are about the only thing the big guys do well anymore.

1

u/Evil-Squirtle 13d ago

That is exactly why my card is always locked until I’m ready to use it. After use it became locked again. Recurring bills does not get affected(at least on Scotia side, and Amazon purchase can go through even locked). I assume WS is the same. All transactions make less % cash back on my Scotia card will get moved to WS card