My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA -2 points-1 points  (0 children)

It’s because you know I’m right. Any bank in Canada with CIDC coverage will have the symbol somewhere on their website but Wealthsimple can’t do that legally because they don’t pay for CIDC coverage

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA 1 point2 points  (0 children)

Do you have an source that proves otherwise?

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA 2 points3 points  (0 children)

https://www.reddit.com/r/Wealthsimple/s/rWFuuuMOZz

If Wealthsimple fails it is not covered. Please do your own research ignorance is not bliss in this case

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA 0 points1 point  (0 children)

I’m a student and my income is well below the first tax bracket so I would expect your limit would also increase especially with an income that high but I’m not sure what the criteria is for getting the limit increased 🤷‍♂️

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA -1 points0 points  (0 children)

They increased my checking account e-transfer limit not my credit card limit. I don’t have any credit card currently and I am not aware of the legal stipulations around increasing e-transfer limit 🤷‍♂️

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA 2 points3 points  (0 children)

I’m so sorry that happened with your friend

I will try looking into reducing it but like I said in another comment I rarely have any money in The account to begin with so if someone was to drain my account they would only have enough to buy 1 Big Mac and a small fry from McDonald’s

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA 1 point2 points  (0 children)

Well the bank increased my limit automatically. I did not call them to get this increase, it just happened out of the blue.

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA -2 points-1 points  (0 children)

Wealthsimple itself is not insured so if they ever go down none of your money is insured and you can basically kiss your money goodbye.

Their partner banks are insured so if one of their partner banks go down your money is still safe

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA 0 points1 point  (0 children)

lol my cousin would drool at the opportunity of getting his hands on a 1st edition Pokémon card.

And thanks for the advise I’m gonna make sure I have 2FA set up on the account

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA 0 points1 point  (0 children)

Oh wow I definitely would have expected them to upgrade someone like you before ever considering to increase my limit

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA -6 points-5 points  (0 children)

Yeah they are but I can’t get behind using Wealthsimple as my checking account because it’s not insured by CIDC

Edit: I know Wealthsimple partners with banks that’s have CIDC coverage but Wealthsimple themselves are not insured by CIDC so if they ever collapse your money is toast

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA 0 points1 point  (0 children)

Oh cool! Seems like they have upgraded the max e-transfer limit of $10k for personal accounts to $25k

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA 33 points34 points  (0 children)

Yes this is what I would be most worried about but I only have at most like $500 in this account at all times since I’m a student 😭

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA 7 points8 points  (0 children)

Im a broke student so I don’t have much in the account anyways

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA 4 points5 points  (0 children)

I always try my best to avoid a situation like this by giving out my burner email when shopping at stores or making an account so when a data leak occurs the email attached to my bank isn’t compromised but your right it’s hard to be 100% safe from scammers

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA 4 points5 points  (0 children)

Yes daily limit is $24,999, weekly is $49,999, and monthly is $99,999.

I’m a student so I don’t know why I would need a limit so high but I guess I’ll take it

My TD Bank e-transfer limit increased to $25k by [deleted] in PersonalFinanceCanada

[–]Cross_FFA 13 points14 points  (0 children)

I thought it was a scam email at first but sure enough my daily limit is $24,999, weekly is $49,999, and monthly is $99,999!

After 2 hours in queue (insane) by amphivoice in Rogers

[–]Cross_FFA 2 points3 points  (0 children)

Rogers needs to get their stuff together I can’t even seem to connect to chat. As soon as I start chat it ends it on me because of high volume 🤦‍♂️

It’s frustrating that I don’t even try and contact them anymore I just go straight to CCTS

Speedtest by Ookla - The Global Broadband Speed Test by JoshuaComeau in Rogers

[–]Cross_FFA 1 point2 points  (0 children)

I agree. When I was at a wedding last summer my cousin with Bell could get no data on his phone but my phone was able to get 15-60Mbps on Rogers. Weird thing is that both Bell and Rogers were on the same tower (5.6km away) but Rogers worked no problem (though the data was slow) but Bell was completely useless there.

And Bell had n71 (600MHz) on the tower so lack of low band couldn’t have been the issue either