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.

  • Victor Villas
    1•8 months ago

    IMHO yes, WS is better than EQ in pretty much all aspects… except that its “credit” card is actually prepaid and does not contribute to credit scoring. EQ support might be fast, but they messed up my wife’s assessment and she was banned for life due to an issue on EQs side… WS on the other hand has been pretty responsive once I crossed the 100k threshold - as well as bumping that rate to 4.5%