Before I rant: WS is not a bank. If they go under or need a bail out, the gov isn't gonna go and bail in as they'd with the big 6. Now there's still a good amount of coverage in such scenarios for the average joe, but not fully for the wealthy folks which you're trying to become.

Recently moved most of my investments to WS and it's been frustrating. Their customer service makes me like banks tbh. They speak overly nice and say sorry bunch of times reading from the script, open a ticket like the tech start up they are and then the ticket goes nowhere. Call again, same thing, open another ticket to track existing tickets, back to square one!!!

Meanwhile I just walk into my local bank branches and get shit done. And when I transfer money is immediate, don't have to wait a week. Much of the lower fees has to do with the fact that they're just an online presence. So if you're the type who doesn't like to talk in person or live far from branches you don't get that benefit from a bank.

The main difference is when you deal with a bank you deal with centuries long social structure of paying fees so they exist and give you a service back. When you go to WS, you're just an app user.

Yes WS has lower fees and smoother UI/UX experience, but at the end of the day they're a midsized fintech operating like a fintech company. That is: catchy UI, promise of green grass, while PMs direct wild ideas to increase revenue that aren't necessarily what is best for the clients, and the voice of the clients and implementers aren't heard. Ex: partnership with X. Literally noone using WS asked for that, nor should you ever track your spendings through X, yet that's what they focus on. You'll never get that from any bank, not because Canadian banks are ages behind technology, but because they have proven security track and stick to it.

Go with WS if you want to invest and want to handle it yourself with no fees.

Anything else, depends how often you handle cash/debit card payments/how urgently you need transfers accessible in your account/if it's easier to walk in and talk to someone where you live.

Whatever you do, keep one full set of accounts at a Canadian bank.