Wealthsimple’s USD Account Puts Pressure On Canadian Banks And Their Fees

Wealthsimple’s new US dollar account is not a full chequing substitute, but it may not need to be one to create a problem for Canadian banks that still monetize USD access through monthly charges, transaction fees, balance thresholds, and currency conversion friction. The company’s product is officially a USD savings account. It lets customers hold […] The post Wealthsimple’s USD Account Puts Pressure On Canadian Banks And Their Fees appeared first on the deep dive.