Wealthsimple Reviews 628

The worst experience of my life locked down my app over a transfer. Zero communication then phone call after phone call they remove me from the app and no idea if I get my money or anything. Going to go file a theft report with the rcmp. They lock your stuff down to protect you but it seems they are the scammers in all of this. What a nightmare!! 10 days with little to no communication just flabbergasted at the customer service for a company that handles people’s finances.

First of all 1/4 of the customer service agents I dealt over the phone with in a 2 week period spoke very poor english with a heavy accent. Then they misinformed me on company policy and poor support moving my accounts to WS to receive their sign up bonuses. The experience was not pleasant and customer service is NOT a priority!! Do yourself a favor and move your money else where this is NOT a good place to deal with!

Opening & closing an account - easy & convenient.
Transfer of funds - near pathetic! The funds leave your linked account but is takes WS a very sad 5 days to make these funds “available”. Yes, in today’s day and age.
Customer Service - poor! Almost never have answers and one phone call does not resolve the issue.
App - easy to use! But their codes don’t work. Their people are between 50% accurate & 50% clueless.

I haven’t tried withdrawing funds yet. But am concerned of what my family may go through were something to happen to me!

Why is my withdrawal pending for months after requesting for it when t was so easy to put money in. This has been going on for months without any help from their support other than requesting for more fees to ease the issue. For now, I've settled on # gcasco # .Withdrawals are smooth, and I've never had problems with the process.

If zero stars was an option that's how I would rate them. I had an employer-funded account, and when I changed jobs I no longer had access to that email. Wealthsimple staff guided me to create a new account, and transfer funds to it. When I tried to do that, another staff told me not to create a new account, delete it and update the email on the first account. I needed access to my old work email to do this and couldn't. I managed to get the funds transferred to Investorline, but can't get my RRSP tax receipt. Website chatbot says "connecting to an agent" for over half an hour... 20 minutes on hold with their 1-855 number... all to just get 1 document and I still don't have it.

Awful services ! Easy request : change the phone number registered . 1 hour and half on the chat speaking with reggy asking me questions without any sense and try to send me to someone to help me to fil my taxe return ( no sense at all) then to sam to declare a non residency situation ?? Even with him was painfull explaining again and again I just want to have access to my account for finely finish the conversation by someone will call you in 3 days. It’s look very difficult for this cie to change a phone number and we supposed to trust them to do ours taxes return the joke…

Since March 2, 2026 onwards I have identified numerous instances, of incorrect account balances, incorrect transaction records, currency manipulation between CAD and USD listed stocks on the TSX and NASDAQ and inaccuracies in multiple stock traded in my RRSP and TFSA accounts. These BLATANT ERRORS AND DISCREPANCIES are VERY CLEAR, MEASURABLE AND SUPPORTED BY DETAILED EVIDENCE AND DOCUMENTATION THAT I HAVE RETAINED. The evidence I possess clearly demonstrates that these are not user misunderstandings or user generated, but blatant systemic, operational, and persistent misconduct and wrongdoing occurring at WEALTHSIMPLE. If you are a Wealthsimple customer be VERY VERY CAREFUL. You will loose all your money you have invested by using the Wealthsimple digital banking platform.

I contacted Wealthsimple by phone and email multiple times about the inaccuracies in my account. I have shown them screenshots dated on different dates and at different times of the month, but they refuse to take responsibility and be accountable for their CORRUPTION, FRAUD AND WRONGDOING.

As a financial services provider, Wealthsimple has a fundamental obligation to ENSURE AND MAINTAIN the accuracy, transparency, integrity and reliability of client accounts. Such blatant and recurring errors shows that Wealthsimple is not interested in maintaining the accuracy, credibility, and integrity of their trading and banking platform.

I have absolutely no confidence in the accuracy, validity and integrity of my trading accounts at Wealthsimple. I am absolutely convinced that my accounts are hacked and manipulated by Wealthsimple and they have no interest in resolving customer complaints. I have no faith or trust in Wealthsimple. BE VERY AWARE Wealthsimple is a PONZI SCHEME. You should never open an account at Wealthsimple and if you are an existing client you should move your banking and stock trading accounts to another financial institution.

WEALTHSIMPLE IS A PONZI SCHEME AND A FRAUDULENT FINANCIAL INVESTMENT INSTITUTION.

Impossible to reach customer support by phone or website chat. Only AI chatbot is available, but it's useless. Only once in the past week, after 20 min wait on the line, I was able to reach the support by phone but the person I was connected to barely spoke English, and clearly had a hard time understanding it, especially on poor quality IP connection. I closed my account and parted ways with Wealthsimple.

DO NOT OPEN ANY ACCOUNT WITH THEM. As the person below stated once you deposit money they will freeze, hold, block access to you money and even to you account without any reason. They won’t answer any concerns. You can’t even call them. When you call them they say that we can’t reach the special team by phone call. Only emails!! Once you email them you have to wait for a week to get an answer from them. And that answer is going to be  «  I am not able to provide a firm date at this time as I do not have all of the information. I will provide a firm date once I am able to do so ». This by far the worst prepaid card I’ve ever dealt with

Absolutely a scam!!! Beware and not worth it at all

wealth simple the mobile app and web both shows the graph 📈 failure , pause for a while , l reported the issue like 2 weeks .
no action and no update so far
better move to some different platform . No one take care the issue ...

I honestly feel like I've been robbed. I did exactly what they asked, moved my hard-earned savings over and had their team look me in the eye and promise the match was a sure thing. Then, a month later, they move the goalposts. Linking my everyday checking account activity to completely separate retirement transfer is such a cheap, dishonest way to dodge a promise.
I'm just so incredibly grateful that my #Goⅼd𝘣ⅼoom #Iaboratories account has been there to provide a completely different experience. Their genuine honesty and results have been they only thing keeping me from walking away from investing today.

I strongly advise caution with Wealth simple. They sneakily execute U.S. stock purchases without any warning, even if you only have Canadian funds. My money was automatically converted, and they took advantage of this, leaving me with no control. This feels like a deliberate tactic to profit from unsuspecting users. Be very careful if you use them.

Very poor customer service. Everything goes through an chain of commands that takes multiple business days. You are not able to call and speak to representatives and expect quick resolution to problems or questions. You will then end up in an email thread that will take 3 business days between each response. Seek other options

I'm a customer at wealth simple for many years now. I have used all their services and never been overcharged or scammed or any bad luck. They're offering many options in banking, investment and managed portfolio.
All this is genuine products under the government rules of banking and all funds are backed up.
With the no fee checking account and high interest on the balance it a win win for me.
I'm a truck driver who pass over 250 days yearly in the state, this account have no foreign exchange fees, never been overcharged or a pourcentage of rate fees.
If I spend 5$ usd it will be converted and charge me the right Cad foreign exchange without a fee.
I have two checking account, one for the daily spending and one for the savings.

I have a managed portfolio for my savings where I earn an interest and a yield.

I have tried many options available to us and all the services are working well

Customer service is dedicated to providing high quality help, always performing the full ID CHECK when you are calling them. They're seriously taking higher levels of security regarding your personal data to avoid any breaches

Made for Canadian

The app will NOT process referral bonus. I’ve wasted sooooo much time on their chat with both their AI and an ‘agent’ and the problem is still not resolved. I referred someone who then signed up with WS. All requirements were fulfilled for the bonus. On my app it even shows I have a referral bonus to claim but it NEVER processes. SCAM ALERT. Do NOT sign up with Wealthsimple.

Honestly, moving to WS has been a pretty underwhelming experience. Transfers are handled badly. The money gets pulled from the sending bank almost straight away, but then somehow takes 5–7 business days to actually land. So your cash is basically floating in the void for nearly a week, which is not a great look.
The Premium membership pitch also felt a bit off. The whole “up to $250,000” line came across as polished marketing, but in practice it did not match the impression it gave. That part felt more slick than transparent.
All in all, the experience has been frustrating: slow transfers, murky communication, and benefits that feel dressed up more nicely than they play out in reality. Not my cup of tea, and not something I’d recommend.

Authenticator verification Failed. Reset two step verification failed. One hour on phone and then After submitting selfie and ID PHOTOS there is a 2 hour delay.

I'm stuck with 5.5 shares of some valueless, unlisted stock from a reverse split that was supposed to make me whole. Instead it's just a ghost in my portfolio that's preventing me from even closing my account. I just want to move on but they've essentially locked me in with worthless paper.
I'm thankful I've had my #𝘎oⅼd𝘣ⅼoom #Ia𝘣𝘰ratoríes account to balance out the frustration. They are much more open with their service and pay promptly.

I rate Wealthsimple 1 star that reflects their customers service. I withdrew funds (21k) from my kid's RESP and asked them whether there would be a penalty in any way and they told me that I could take back my contribution and the grant part would be paid back to the government and that part is ok but they never mentioned and even after I told them I'd put back the funds in a better way so the government grants would follow that I would bust my contribution limit by doing so.... So, I hate them officially after they refused to correct the move, all they told me is I signed the DocuSign form and it is written there. I was in a hurry and signed the documents because I waited weeks for everything to be done and I was and still is in divorce settlement and wanted to use that money so I could make sure to see my kid on a regular basis. So, now it's with disgust I find out that the deal with the mom about settlement is wobbling because of the space limitation and I have to try to negotiate with a in trust account or other means.