Wealthsimple debuted with a robo-advisor back 2014 having a mission that is relatively simple connection the space between Millennials and investing.
They’ve prevailed, as you would expect. Around this Wealthsimple currently manages $5B of Canadians’ money year. They’ve also established their unique brokerage that is online bought a well known no-cost income tax solution for the time being.
Now, Wealthsimple announced so it would further Wealthsimple Cash to its accessibility, a distinctive hybrid banking account. The chequing-savings-credit card combination is making quite the splash, with all the prospective to redefine the Canadian finance landscape that is personal.
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No fees that are monthly. Limitless deals. No minimal balance needs.
What exactly is a Hybrid Bank Account?
A hybrid banking account could be the mixture of a high-interest family savings and a chequing account.
Hybrid bank accounts, like Wealthsimple money, feature features from high-interest cost savings reports and chequing records to generate a flexible, all-in-one banking product that is personal.
It is possible to think about a bank that is hybrid as a chequing account with high-interest.