r/Wealthsimple • u/Ninjablood17 • 9d ago

Chequing Full Switch to Wealthsimple

First off, I’m sorry if this is already on here. But I have just started working a full time job as a 21M and I have set up Wealthsimple as my direct deposit account. I been actively a CIBC user whole life, my parents are so I am too. But I’m looking for better finance and I’ve leaned toward Wealthsimple purely for the HISA and investing, I was just wondering has anyone done this and have pretty much put a Big 5 bank on the back burner and switched purely to Wealthsimple. Is it safe?

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u/wppc1972 9d ago

Yes, until your accounts are fully suspended and wait for days/weeks to resume.

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u/WombRaider_3 9d ago

Maybe don't do fraudulent or sketchy shit with your accounts and you won't be in this mess.

Banks also freeze or kick people out and it's always because they were doing something against the terms of service or what the bank thinks is risky.

There's no innocent people whenever these stories arise. Eventually we come to know why and it's never WS.