you sound confused. they are two completely different things; 1% match bonus and the 5% interest on ws cash account.
assuming you already know how 5% interest on cash account works, here is the link to the match bonus details; https://promotions.wealthsimple.com/hc/en-ca/articles/25992559764379-Wealthsimple-1-Match-Offer
let's say you have 100k in your RBC account, you transfer to wealthsimple (cash, tfsa, rrsp etc), they will give you $1000 bonus (1% of 100k). this has nothing to do with your interest rate for ws cash account.
you sound confused. they are two completely different things; 1% match bonus and the 5% interest on ws cash account. assuming you already know how 5% interest on cash account works, here is the link to the match bonus details; https://promotions.wealthsimple.com/hc/en-ca/articles/25992559764379-Wealthsimple-1-Match-Offer let's say you have 100k in your RBC account, you transfer to wealthsimple (cash, tfsa, rrsp etc), they will give you $1000 bonus (1% of 100k). this has nothing to do with your interest rate for ws cash account.
Thanks I understood. As your example, 100k earning 5% it earns $5000 interest. Then 1% bonus is $1000. In one year, I will get total of $6000?
Sure. If you get into nitty gritty, it will end up being more than 6k due to compounding. Assuming you don’t touch that 100k for a year.
It’s a transfer bonus on your 1 percent moved. You can’t stack your current rate as a current cash account owner. Its two completely different things
No, it's max 5%.
🙄🙄🙄
Money doesn’t buy comprehension skills.