New to Canada? A new way to transfer your credit score + MORE Oct 29th

Personal Savings getting you down? There are always smart ways to increase your savings.

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Canada’s spring housing market is missing in action. That’s what the latest March data from the Canadian Real Estate Association (CREA) reveals. Home sales plunged to a low not seen for the month since 2009, with transactions down 9.3% year over year. The sideline approach taken by buyers isn.... More »

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The best high-interest savings accounts in Canada for 2024 + MORE Nov 12th

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The best high-interest savings accounts in Canada for 2025 + MORE Feb 4th

Wealthsimple Cash review 2024

– moneysense.ca

Wealthsimple Cash is a high-interest chequing/savings account that offers one of the highest interest rates in Canada. It has appealing yields and includes a prepaid Mastercard with no foreign exchange fee, so many consumers are naturally attracted to the account. Is it any good? The short answer is yes, but there are a few quirks to be aware of.

What is Wealthsimple Cash?

Wealthsimple started as a robo-advisor offering low-cost portfolio management, but it has since expanded to provide more products and services, such as self-directed investing (under Wealthsimple Trade), tax returns, mortgages and savings accounts.

Wealthsimple describes the Cash account as a high-interest chequing account. That label is important: it’s what allows Wealthsimple to claim it offers the highest interest rate in Canada. (A few high-interest savings accounts, or HISAs, offer similar interest rates.)

Wealthsimple also incentivizes customers to spend the money in their account by offering rewards on purchases, which is likely another reason it’s referred to as a chequing account instead of a savings account…

Continue Reading On moneysense.ca »

New to Canada? A new way to transfer your credit score

– moneysense.ca

Equifax Inc. is launching a program to allow newcomers to transfer their foreign credit history to Canada.

The credit reporting company said Thursday that the Global Consumer Credit File will make it easier for immigrants to access services like loans and cellphone plans in Canada by providing the additional data.

“It’s really important when newcomers land that they get access to the financial services ecosystem, and without credit history that’s very difficult to do,” said Sue Hutchison, head of Equifax Canada.

“They’re typically looking to, you know, rent an apartment, get a mobile phone, probably a credit card, and all of those things require credit history. So not having it makes it very difficult for newcomers.”

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