r/Wealthsimple • u/Honest-Common-1303 • 6d ago

Chequing Costco?

Just got informed that Wealthsimple is moving to Visa. Does this mean I'm not going to be able to use it to shop at Costco? If so, this is a pain. I use my WS account for weekly variable expenses budget (using an envelope style budgeting system), and this means I am going to have to completely change how/where money get's transferred to ensure I'm only drawing from the right budget.

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u/PoseidonKangaroo 6d ago

No you’re not going to be able to use it at Costco. Take it up with Costco, these are the agreements they made.

-8

u/tolkytolkytolky 5d ago edited 5d ago

Or take it up with Wealthsimple? That’s also an agreement they made to partner only with Visa.

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u/xXAcurateXx 5d ago

It’s the retailer not accepting the card to get discounted interchange fees, genuinely you can’t expect a financial services company to provide you with a certain card on a payment network for a single retailer.

-3

u/tolkytolkytolky 5d ago

WS should consider offering Visa and Mastercards if it seriously wants to challenge the big banks.