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I don’t understand the negative reviews.
In my time using Wealthsimple, I have had nothing but great customer service. Any fees I’ve gotten have been reimbursed and explained as to why they were taken out in the first place. They have great communication and the app, to me, is easy to use and understand. I don’t know anything about investing, but I can see they where they are putting my money and I’m sure if I have any questions all I can do is ask. I’ve had an extremely positive experience.
Terrible app with Terrible Customer service.
This is the only investment app, I’ve used that wasn’t able to link my bank account and of course the blame fell on me, but every other investment account I have has had absolutely no problem linking a bank account. That’s like square one when using a service to invest in. I will never use this app again, they have no idea what is going on over there. EDIT: They continue to blame me for submitting incorrect banking information. They will not take the blame for messing up, of course it’s someone else’s fault not Wealthsimple. DON’T JUST STAY AWAY FROM THIS APP, RUN!!!!! Use Stash, Fidelity, or Stockpile, they are far superior to this disgusting company that blames their customers for their mistakes. Absolutely disgusting.
Equifax and Security
FYI this company uses Equifax as a reporting agency. If any details you initially provide do not match, they request physical copies of your Social Security card and driver's license (and in some cases a copy of your VISA or Residency Documentation) which are then seemingly sent to Equifax for verification, a company that was just hacked and breached resulting in the loss of this very same information for 143 million Americans as well as Canadian citizens. Touting bank-level security and encryption will not help when they are sharing your information with reporting agencies that do not keep said information secure. My advice: think twice before sharing your sensitive information. Wealthsimple may need to rethink their security standards and partnerships.
Overall a good experience with Wealthsimple, but app redesign leaves much to be desired
I have been investing slowly but surely with Wealthsimple for a number of years now. Overall, it’s been a very positive experience. I have never tried to make a withdrawal yet, however... and what I’m reading is certainly giving me a bit of pause. Also, the stats that USED to be available in th app around percentage growth using various methodologies (simple, money-weighted, time weighted) were very useful, and have magically disappeared suspiciously during the largest economic downturn in decades...
Be careful of account verification
Prior to getting a financial account for this app, you probably have to verify your account. They’ll deposit minuscule amounts for you to verify, but in order to have reached this stage, you’ll have had to order a deposit in the first place. There will be no notifications for a couple days since you ordered it and you’ve probably asked for another deposit by then. What’s going to happen is that both deposits will be requested and if you’re not ready or expecting it, you’ve just ordered twice what you requested to be deposited in your account. Good luck with an nsf or an inconvenience because customer service is way to slow to counteract this.
Enjoy side scrolling to view accounts!
Wealthsimple, you removed the ability to see all my account balances at a glance by showcasing your blog posts. While blog posts are nice, they are not what I want to see immediately when I open my app. The previous app version did this so perfectly. As soon as I opened my app I could see my 3 account balances and their performance at a glance, on he first screen. Now instead, this new version forces me to swipe sideways for each account and they are in small cards. This is so you can showcase your news posts? I don’t understand your logic here. Maybe you could put your news posts in another section? I do enjoy them but I’m not down to read them nearly as much as I am to check on my account balances. You removed the thing that made it beautiful, the trees. Now it’s just like all the other finance apps, boring, dull and blue. I don’t want to see boring blue, tiny hard to find account balances and news and tips first thing! I want the old layout back :(
I love Wealthsimple! They have always responded quickly to my requests, answered my questions when I’ve called, and most importantly walked me through the process of how I can get my investments to grow! My portfolio is up more than it was when I was using a previous company. Very happy with Wealthsimple and look forward to being a long lasting customer.
One of the worst platforms
The app itself is not bad though some features need desktop but it is ok. However, the service itself bad, they don’t respond, they don’t care, many things are manual operations and it could take a lot of time to process. It is the worst ever platform. Forget withdraw your money , it could takes months , email them or not no body care . Internal transfer between saving and investment accounts ? It is a manual operation and they have to approve it :) so slow in responsive customer support. Run away Betterment waaaaaay better
Positive exp so far
I barely started using Wealthsimple, less than a month. Already I have been charged $30. I have no reason why. I know they will charge a fee once your invested amount grows but I had less than $40 in my account and now a $30 fee???? I sent a support email asking why and will wait to hear back before I change my review from 1 star. UPDATE: I called customer support following day after sending email. David looked around and saw the fee was from a charge due to the error in processing funds from my account. Issue was fixed and was not a surprise fee. Grateful for their support and clarity. So far so good.
Dr. Arif Mahmood
One of the worst platforms I have ever used in my life. Have been trying to get my money out since last month with no luck whatsoever. Terrible customer service, and lousy company. It has been a month and I haven’t been able to get my money out. This is very concerning, and reflects so poorly on this company. I have called multiple times and still haven’t received my withdrawal. This is the most unpleasant company and customer service team that I have ever dealt with. Would encourage all to stay away and not invest here.
Ancient and slow start up withdrawal
I got this account thinking it would help me, boy I was wrong. Sent a funding amount on 3/19, and it didn’t post until 3/24. Not to mention my bank charged me a fee for the withdrawal which would have been balanced if it didn’t take so long. 5 business days for a funding is too long. I almost feel like they’re planning this ahead. Wealthsimple also charged me a fee so I basically got nothing out of it. If these accounts are supposed to help you it doesn’t seem like it!
Easy to use, fun to watch
I like the modern investing option. Easy to set up, easy to navigate. Set regular transfers, modify them, and I like to throw in a little extra here and there. I'm hoping for a few more investing models in the future, but so far I'm pleased with Wealthsimple. Thank you.
The interface is pleasing and easy to use, the resources and information provided are excellent for new investors. A portfolio that is Halal and focused on Socially Responsible or Environmentally Responsible companies would be an amazing addition. A customisable option would work as well. Great resource, one star removed for the need of more portfolio options.
Worst customer service
I have been trying for weeks now to link my bank account so I can withdraw my money. There is nowhere on my website site login to enter the “micro” deposits. I have reached out to customer service. It took them over a week to respond. Their response, “our tech team is looking into this.” This is completely unacceptable for a financial organization. Their response time and customer service is major concern. Investors be aware!
Easy to use app, wonderful roboadvisor service.
Love the app from Wealthsimple - it is intuitive, and the design is very simple and user friendly without skimping on the important features for managing investments. And the fact that Wealthsimple offers socially responsible investing is what places it above similar robo-advisor services.
Yes. Wealthsimple Invest is quiet safe to use but use with caution. This is based on our NLP (Natural language processing) analysis of over 688 User Reviews sourced from the Appstore and the appstore cumulative rating of 4.3/5 . Justuseapp Safety Score for Wealthsimple Invest Is 34.1/100.
Yes. Wealthsimple Invest is legit, but not 100% legit to us. This conclusion was arrived at by running over 688 Wealthsimple Invest User Reviews through our NLP machine learning process to determine if users believe the app is legitimate or not. Based on this, Justuseapp Legitimacy Score for Wealthsimple Invest Is 34.1/100.
Wealthsimple Invest works most of the time. If it is not working for you, we recommend you excersise some patience and retry later or Contact Support.
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