Personal Finance

WealthONE Bank of Canada

  • Last Updated:
  • Dec 13th, 2017 6:28 pm
[OP]
Member
User avatar
Jun 23, 2017
258 posts
64 upvotes
Toronto, ON

WealthONE Bank of Canada

Has anyone done business with this bank?
They've recently opened an office here in Markham and seem to offer the usual suite of products available at the Big Banks.
It is a member of CDIC.

https://www.wealthonebankofcanada.com/Personal/

If you have any experience with them (good or bad), let's hear it!
184 replies
Jr. Member
Sep 3, 2009
121 posts
33 upvotes
Not bad - 2.50% for high interest savings account. EQ currently has 2.30%.

OP you might get more traction on this topic if you posted it in the Personal Finance forum
[OP]
Member
User avatar
Jun 23, 2017
258 posts
64 upvotes
Toronto, ON
WealthONE Bank of Canada recently opened an office here in Markham and seem to offer the usual suite of products available at the Big Banks.
It is a member of CDIC and looks to be offering decent rates everyday (ie. not just limited-time promotional rate).

Wealth One High Interest Savings Account (Personal Only) 2.50%
Wealth One Tax-Free Savings Account (Personal Only) 2.50%
Wealth One RSP Savings Account (Personal Only) 2.50%


https://www.wealthonebankofcanada.com/Personal/

If you have any experience with them (good or bad), let's hear it!
Last edited by 905P4N6 on Jul 16th, 2017 3:32 pm, edited 1 time in total.
[OP]
Member
User avatar
Jun 23, 2017
258 posts
64 upvotes
Toronto, ON
thanks hw, I'll start a thread in the more general Personal Finance
Moderator
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Mar 23, 2004
36496 posts
3332 upvotes
Markham
Good rates. Although they just opened last year (July 2016), they should be safe with cdic.
「もし、奇跡を起こせたら……」
Member
Apr 22, 2014
457 posts
211 upvotes
Edmonton, AB
gogoblender wrote:
Jul 17th, 2017 6:03 pm
Can residents of Quebec use them?
Only open to BC and Ontario.
Jr. Member
Dec 5, 2008
158 posts
15 upvotes
Longueuil
gogoblender wrote:
Jul 17th, 2017 6:03 pm
Can residents of Quebec use them?
No ! They finally told me after 2 calls complaining that my initial deposit wasn't showing.
Last edited by dd55 on Aug 23rd, 2017 2:59 pm, edited 1 time in total.
Achieva Refer with warnings avail.
Deal Addict
User avatar
May 7, 2007
3387 posts
678 upvotes
WealthONE High Interest Savings Account


The WealthONE High Interest Savings Account was designed to make it easy for you to save, earn interest and manage your money anytime through our online and mobile banking portal. We understand Canadians work hard for their money and want a bank that rewards them for depositing funds. As your money grows you will enjoy our high interest rates on every dollar.

Benefits:

Great every day high rates
No Monthly Fees
No Minimum balance required
Unlimited transactions
Free bill payments
Eligible to participate in an Automatic Savings Program

https://www.wealthonebankofcanada.com/P ... /Accounts/



About Us

Opened in 2016, Wealth One Bank of Canada is a Canadian Schedule I Bank committed to providing great customer service and products to all Canadians with a focus on the Chinese Canadian community.

Vision
Become a preferred bank for the Chinese Community in Canada.

Mission
Help you achieve your wealth goals.


We offer banking services virtually through online banking and provide personalized service through our retail offices in Ontario and British Columbia.

https://www.wealthonebankofcanada.com/Personal/AboutUs/
Deal Addict
User avatar
May 7, 2007
3387 posts
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philland wrote:
Jul 17th, 2017 8:10 pm
Only open to BC and Ontario.
Not true ... I just called them and spoke to them ...

ANYONE (in Canada anyhow) can open that bank account with them .... BC and Ontario is only if you need some in person services etc...

Not a bad bank actually, currently anyhow.

They started last year .. with a rate .08% or something ... then had a promotion early in 2017 ... 1.88% or something like that ... but since July 2017, they are offering 2.50% not a promo rate (subject to change, i guess, as anything similar else .. but not a promo rate).

So i found out some details: Re:
WealthONE High Interest Savings Features:

Great every day high rates
No Monthly Fees
No Minimum balance required
Unlimited transactions
Free bill payments
Eligible to participate in an Automatic Savings Program
Account is CDIC eligible ... As to unlimited transactions ... -- after opening the account ... you provide them with a cheque from other institution ... 1st cheque has to be $1000 (not $1, for example) ... Can link that way 5 bank accounts maximum ... Additional cheques could be either void or for any amount you wish (don't have to be for $1000 as the first cheque). You can either mail those cheques to them or use iPhone / Android app and provide those cheques to them with cell phone picture via that app of theirs.
After those links are set up... you can either push or pull money with those 5 links (maximum) unlimited amount of times.

As to bill payments with that account ... - you can pay 10 bills a month for FREE (and each additional bill payment after that would cost you $5) :)

Not too bad of an account actually ... so i am considering opening it :)
[OP]
Member
User avatar
Jun 23, 2017
258 posts
64 upvotes
Toronto, ON
Darkman wrote:
Aug 23rd, 2017 3:45 pm
Not true ... I just called them and spoke to them ...

ANYONE (in Canada anyhow) can open that bank account with them .... BC and Ontario is only if you need some in person services etc...

Not a bad bank actually, currently anyhow.

They started last year .. with a rate .08% or something ... then had a promotion early in 2017 ... 1.88% or something like that ... but since July 2017, they are offering 2.50% not a promo rate (subject to change, i guess, as anything similar else .. but not a promo rate).

So i found out some details: Re:



Account is CDIC eligible ... As to unlimited transactions ... -- after opening the account ... you provide them with a cheque from other institution ... 1st cheque has to be $1000 (not $1, for example) ... Can link that way 5 bank accounts maximum ... Additional cheques could be either void or for any amount you wish (don't have to be for $1000 as the first cheque). You can either mail those cheques to them or use iPhone / Android app and provide those cheques to them with cell phone picture via that app of theirs.
After those links are set up... you can either push or pull money with those 5 links (maximum) unlimited amount of times.

As to bill payments with that account ... - you can pay 10 bills a month for FREE (and each additional bill payment after that would cost you $5) :)

Not too bad of an account actually ... so i am considering opening it :)

Maybe time to sign up for an account ... they are offering 2.5% interest as their regular rate . That's better than EQ Bank's 2.3% regular rate ... and same as PCF's limited-time rate (good 'til Oct 31)!

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