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[Wealthbar] $50 cashback for investing and maintaining $1000 balance for 60 days (GCR or HIS)

  • Last Updated:
  • Jul 4th, 2020 3:35 pm
Member
User avatar
Jun 18, 2015
303 posts
223 upvotes
Winnipeg, MB
LarryT778370 wrote: I don't have a lot to say, here is the data for me:

WealthBar: return -1.24%
WealthSimple: return -0.56%
Likely not a good comparison without mentioning how aggressive/conservative either portfolio is......It's also completely useless information without knowing the length we're talking about here. Have you had the account for 3 years or 3 months....? Makes a massive difference.

I usually sit around ~+7%...but am now sitting at 4.8% because of Covid. (3 years and 5 months)
Newbie
Jan 21, 2017
96 posts
36 upvotes
Did everyone who do this just for the rebate put their money in Cash or what?
Sr. Member
Aug 24, 2006
974 posts
446 upvotes
xnirvanafc wrote: Did everyone who do this just for the rebate put their money in Cash or what?
I went with aggressive high risk,
Plan to only keep $1000 in for 30 days.
Id rather make as much money as possible, if it somehow drops below $1000 ill leave that money in until it recovers..

Right now my profile is up 1.78% in about 7 days. which is way more than id get in a savings account..
Sr. Member
Sep 14, 2009
507 posts
171 upvotes
Vancouver
xnirvanafc wrote: Did everyone who do this just for the rebate put their money in Cash or what?
That was my strategy (their HISA) as I invest in ETFs... elsewhere.
Sr. Member
May 26, 2011
694 posts
462 upvotes
bryceton wrote:
I went with aggressive high risk,
Plan to only keep $1000 in for 30 days.
Id rather make as much money as possible, if it somehow drops below $1000 ill leave that money in until it recovers..

Right now my profile is up 1.78% in about 7 days. which is way more than id get in a savings account..
Yes, but you could lose as much. I don't know how stable and reliable their platform is, I'd do high return/risk trades somewhere more established like questrade, interactive brokers, etc.

A decade ago, I didn't know about those discount brokers, so I started Tangerine index funds when they were running promos until a few years ago. I'm unhappy these days, as sales/purchases aren't finalized for a few days and their MER are higher than most ETFs.
cardero wrote:
That was my strategy (their HISA) as I invest in ETFs... elsewhere.
So they have hisa? What's their rate?
Freedom mobile, airbnb, AMEX, Great Canadian Rebates (GCR), Ebates, Top Cash Back, Groupon, Livingsocial, Foodora, Doordash, SkipTheDishes, Checkout 51, Drop, TransferWise, Questrade, EQ, Achieva, PayTM, Simplii and Tangerine customer.
Sr. Member
Sep 14, 2009
507 posts
171 upvotes
Vancouver
maverikbc wrote:
So they have hisa?
Just logged in and it still shows my funds in cash so not sure if that is what they are calling their HISA or they are waiting for my deposit transfer to clear, so cannot confirm, but I believe their most conservative option you can choose is a HISA after answering the risk tolerance and how quick you may need your funds questions (which it says on the dashboard earns 0.50% interest) .
Sr. Member
Aug 30, 2019
603 posts
495 upvotes
Brampton
I would like to take advantage of this. Any links where to open the account ? and how to transfer money into this account ?
Sr. Member
May 26, 2011
694 posts
462 upvotes
cardero wrote: Just logged in and it still shows my funds in cash so not sure if that is what they are calling their HISA or they are waiting for my deposit transfer to clear, so cannot confirm, but I believe their most conservative option you can choose is a HISA after answering the risk tolerance and how quick you may need your funds questions (which it says on the dashboard earns 0.50% interest) .
They hold fund deposits for a while? That's one red flag, while Questrade doesn't put hold on new funds, AFAIK.

I doubt it's insured at all, but that's what I'll do, thanks!
Freedom mobile, airbnb, AMEX, Great Canadian Rebates (GCR), Ebates, Top Cash Back, Groupon, Livingsocial, Foodora, Doordash, SkipTheDishes, Checkout 51, Drop, TransferWise, Questrade, EQ, Achieva, PayTM, Simplii and Tangerine customer.
[OP]
Newbie
Jul 8, 2017
19 posts
20 upvotes
the worst performing ETF in the portfolios right now is HCRE (real estate). they and banks took a huge hit because of the quarantine.
the best performing is HXS (S&P500). the more aggressive portfolios have higher weight (% invested) in HXS.
alternatively you can just buy HXS at Questrade.
but if you're very risk-averse, nothing wrong with a HISA (but I don't know if you get cashback for the HISA)
nobody can predict the future and time the market though.
Wealthbar's website says they're with IIROC and CIPF like Wealthsimple and Questrade https://help.wealthbar.com/security/is- ... -protected
Sr. Member
Aug 24, 2006
974 posts
446 upvotes
maverikbc wrote: Yes, but you could lose as much. I don't know how stable and reliable their platform is, I'd do high return/risk trades somewhere more established like questrade, interactive brokers, etc.

A decade ago, I didn't know about those discount brokers, so I started Tangerine index funds when they were running promos until a few years ago. I'm unhappy these days, as sales/purchases aren't finalized for a few days and their MER are higher than most ETFs.


So they have hisa? What's their rate?
Im comfortable loosing as much, but also stocks are pretty down right now. So its less likely, unless a major 2nd wave happens.. even then if i gotta kerp that $1000 locked in for awhile no big deal..
I have about 40x this amount invested in more risky plays.. which are doing much better

With that being said i wouldnt really invest in there picks at all.. I feel comfortable in doing so for 30 days.. but there picks are pretty safe ones even with the most risk setting for me..
Deal Fanatic
User avatar
Dec 11, 2005
7811 posts
1013 upvotes
TO
maverikbc wrote: They hold fund deposits for a while? That's one red flag, while Questrade doesn't put hold on new funds, AFAIK.

I doubt it's insured at all, but that's what I'll do, thanks!
Are you sure they hold funds longer than 60 days? Someone can chime in here who's covered their 60 days.
Achieva Financial /KOHO / STACK (0% FX Fee) /Tangerine / EQ Bank member / I use Plastiq for paying bills with my CC

"You can't soar with the eagles if you're hanging with the turkeys - Gary Kent
Sr. Member
Aug 24, 2006
974 posts
446 upvotes
TorontoEh wrote: Are you sure they hold funds longer than 60 days? Someone can chime in here who's covered their 60 days.
Funds are held for 30 days, thought some were avle to withdraw early..
I imagine this rule is more in place cuz of the cashback offer. But your investment is made around 5 days after signup
Sr. Member
Sep 14, 2009
507 posts
171 upvotes
Vancouver
Got the $50 Interact from HIS less than 2 weeks from transferring the $1K (and I chose their most conservative option which was their HISA rather than a fund and still got the promo payment.) Hope this helps in case you don't want to risk money in an equities fund and still qualify.
Jr. Member
Jul 8, 2010
136 posts
30 upvotes
Toronto
itis $70 from HIS , "Receive $70 cash back by signing up for an account with a minimum $1,000 deposit."
I WAIT until giving out $100.
Sr. Member
User avatar
Oct 24, 2016
692 posts
516 upvotes
ON
Also $70 with GCR until June 30th.
Isn't it great to live in the 21st century where deleting history has become more important than making it.

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