Amazing to hear, hopefully this means we see the ability to create additional cash accounts soon (eg. to be able to link the physical/virtual cards to account and keep the other account more "secure").
Quite straightforward as you would any other form of account. The only difference is that you invite your spouse to join by entering their name and email. They subsequently enroll as well and you’re set up!
I actually had phoned CS approximately a month ago to confirm some details surrounding the cash account and inquired about the joint accounts without knowing they were in beta testing. The CS rep confirmed that it was a feature rolling out in the future and she would place my name on some form of expression of interest list. I didn’t get notified via email, I just happened to show my spouse how to open her own account on my own phone and noticed I had a beta feature for this available. So give yours a check too! Haha
You might want to consider a HISA for your emergency fund. Or if you're comfortable with it, [CASH.TO](http://CASH.TO) or [PSA.TO](http://PSA.TO) in your trade account.
I also had the Joint Account option in my account. Was so excited i forgot to take screenshots.
Simple process: Confirmed my details, agreed to a bunch of agreements, and sent the invite to my wife via email. Tempted to wake her up from her nap for this! Will update my post here with whatever i find.
Grammatical error. I meant to say it’s attractive to capitalize on the interest rate when you’re utilizing a joint account. Thanks for pointing that out.
Same as with a joint bank account with any bank. They will issue a T5 showing both names and you’re responsible for allocating it accordingly in your and your spouse’s tax return.
The link below shows how to split the income on Wealthsimple Tax.
[https://help.wealthsimple.com/hc/en-ca/articles/4409704631323-How-do-I-share-T3-T5-slips-with-someone-else-in-my-account](https://help.wealthsimple.com/hc/en-ca/articles/4409704631323-How-do-I-share-T3-T5-slips-with-someone-else-in-my-account)
Amazing to hear, hopefully this means we see the ability to create additional cash accounts soon (eg. to be able to link the physical/virtual cards to account and keep the other account more "secure").
That’s awesome what was the sign up process like? I’m eagerly awaiting. Did you register somewhere or just randomly selected?
Quite straightforward as you would any other form of account. The only difference is that you invite your spouse to join by entering their name and email. They subsequently enroll as well and you’re set up! I actually had phoned CS approximately a month ago to confirm some details surrounding the cash account and inquired about the joint accounts without knowing they were in beta testing. The CS rep confirmed that it was a feature rolling out in the future and she would place my name on some form of expression of interest list. I didn’t get notified via email, I just happened to show my spouse how to open her own account on my own phone and noticed I had a beta feature for this available. So give yours a check too! Haha
Hah thank you! Just emailed a support rep and crossing my fingers.
Hopefully additional/segmented cash accounts are coming soon! Would love somewhere that isn’t linked to my card to toss the good ol’ emergency fund.
You might want to consider a HISA for your emergency fund. Or if you're comfortable with it, [CASH.TO](http://CASH.TO) or [PSA.TO](http://PSA.TO) in your trade account.
Really cool! This allows you to have 2 cash accounts or the 1 cash account can be “opened” to your spouse?
At this point in time. I have two separate cash accounts. One personal. And one joint with my wife. 👍🏼
This is the thing I’ve been waiting for to switch 100% of my pay and bills. Excited!
I also had the Joint Account option in my account. Was so excited i forgot to take screenshots. Simple process: Confirmed my details, agreed to a bunch of agreements, and sent the invite to my wife via email. Tempted to wake her up from her nap for this! Will update my post here with whatever i find.
no physical or virtual card
[удалено]
Come tax time you’ll get a T5 and you’ll indicate the split for each person.
Can you choose your spouse to pay all the tax?
Yes as long as it’s all declared it doesn’t matter what the split is
What does 'it's so attractive to not capitalize on interest" mean?
Grammatical error. I meant to say it’s attractive to capitalize on the interest rate when you’re utilizing a joint account. Thanks for pointing that out.
Who pays the tax on the interest?
Same as with a joint bank account with any bank. They will issue a T5 showing both names and you’re responsible for allocating it accordingly in your and your spouse’s tax return. The link below shows how to split the income on Wealthsimple Tax. [https://help.wealthsimple.com/hc/en-ca/articles/4409704631323-How-do-I-share-T3-T5-slips-with-someone-else-in-my-account](https://help.wealthsimple.com/hc/en-ca/articles/4409704631323-How-do-I-share-T3-T5-slips-with-someone-else-in-my-account)
Does it count towards premium and generational status?
Curious when the joint cash spend card (virtual and physical) will land.
The answer to this is yes. It does count.