this post was submitted on 12 Aug 2023
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What financial services do you use? (lemmy.ca)
submitted 1 year ago* (last edited 1 year ago) by MacroCyclo@lemmy.ca to c/personalfinancecanada@lemmy.ca
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I'm curious what products and services everyone uses. I like trying out new services, but it seems like the big banks are pretty effective at squashing competition.

I'll go first: Chequing - BMO Savings - Wealthsimple Investing - Questrade with Passiv Credit cards - BMO, Costco, Amazon

I have tried Brim (credit card) and Koho (kind of a chequing account), but eventually dropped them because they couldn't effectively replace BMO.

I'm interested to know everyone's experiences with their banks and other financial service providers.

Edit: This thread has been amazing! Thanks for all the replies!

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[–] MacroCyclo@lemmy.ca 1 points 1 year ago (3 children)

I didn't know you could use wealthsimple as a chequing account. Any fees on withdrawing cash?

[–] deltatux@mstdn.ca 2 points 1 year ago (1 children)

@MacroCyclo @NENathaniel

If you're the type that wants to withdraw cash, EQ Bank would be better option than WealthSimple Cash.

EQ Bank offers to rebate all domestic ATM withdrawals, no matter the ATM. They don't rebate International ATM withdrawals though if those machines charge a fee...

[–] MacroCyclo@lemmy.ca 1 points 1 year ago

Thanks for the tip on EQ bank! I used to have something like that when I lived in the states and it was great.

[–] NENathaniel@lemmy.ca 1 points 1 year ago (1 children)

You can send money back and forth between accounts for free, but I don't think you can withdraw actual cash from Wealthsimple since they don't have ATM's

[–] MacroCyclo@lemmy.ca 1 points 1 year ago (1 children)

Gotcha, how do you get cash then? Or do you not need it?

[–] NENathaniel@lemmy.ca 2 points 1 year ago

I use my Tangerine chequing account which can work with Scotia ATM's, but yea tbh I scarcely need to take out cash.