I’ve seen a lot of people mentioning EQ bank to have the emergency save since it offers 2.5% interest.
Just recently knew about wealthsimple with 4% https://www.wealthsimple.com/en-ca/spend
So I’m wondering if you guys know any drawback on saving in wealthsimple instead of EQ.
EQs rates have fallen behind for quite some time, Motive has been offering over 3% for quite awhile so I moved my savings there (currently 4.1%). None of these banks are better than the others they just offer better rates than the others for a period of time. Up to you to decide whether it is enough to move your money.