Wealthsimple's Cash account down to 1.9% | General comparisons | Discussion forum

Wealthsimple's Cash account, which is not included in the comparison chart for multiple reasons, not least of which it because it's held in a brokerage account, not directly in your name, and also because it's not CDIC insured, just announced via e-mail notification to clients that the rate had dropped from 2.4% to 1.9% effectively immediately. RFD users are warning that the in-app rate differs from the e-mail notification rate (the in-app rate is not the official rate), so there are customer service quality and technical issues present.

Status: Downgraded
From: Limit your daily balance to between $1,000-2,500
To: Soft avoid

Cheers,
Doug