Wealthsimple Match Campaign
This is a time-limited promotion - deposits or transfers made outside the promotional period below are not eligible.
What is the Match Campaign Promotion?
The Wealthsimple Match Campaign (the “Promotion”) is open to Wealthsimple clients who transfer eligible investment accounts or cryptocurrencies into their Wealthsimple Self-Directed Investing, Managed Investing or Crypto account from February 1, 2024, at 12:01 a.m. ET to February 29, 2024 at 11:59 p.m. ET (the “Promotional Period”). Wealthsimple will grant a cash bonus equivalent to 0.5% of the value of the eligible transferred assets. To be eligible, investment account transfers and cryptocurrency transfers must be from a third party not affiliated with Wealthsimple and received by Wealthsimple by April 30, 2024.
Client-initiated deposits, transfers from entities affiliated with Wealthsimple, transfers to Wealthsimple Save and Cash accounts, and other non-institutional transfers, included but not limited to direct deposits, or funds received via electronic transfers will not be considered a Qualifying Transfer.
Got questions? Scroll to the bottom of this page for our full FAQs.
The reward is calculated based on cumulative eligible transfers made that have also satisfied the Promotion requirement. For example, if a client has a net funding amount of $100,000, they will receive a $500 bonus ($100,000 * 0.5%).
Transfers must be received from a third party not affiliated with Wealthsimple to be eligible. Eligibility for the Reward will be calculated based on cumulative investment account transfers and cryptocurrency transfers into your Wealthsimple Managed Investing, Self-Directed Investing, and/or Crypto accounts less withdrawals, e-transfers, and transfers out made from any Wealthsimple account throughout the Promotional Period.
For example, if you transfer $80,000 into your Wealthsimple Managed Investing RRSP, transfer $20,000 into your Self-Directed Investing account from another institution and withdraw $3,000 from your Cash account during the Promotional Period, the net deposit amount used to determine eligibility for the Reward would be $97,000.
Who can Qualify?
You are only eligible to receive the Reward if you:
- Have a Wealthsimple account in good standing at the time of participation;
- Are a legal resident of Canada;
- Are the age of majority, or older, in your province/territory of residence at the time of participation;
- Register for the offer between February 1, 2024 and February 29, 2024. by clicking "Register now" in the email, push notification, in-app message, home page or another advertising channel, and complete the linked registration form;
- Transfer an eligible investment account or cryptocurrency from a third party not affiliated with Wealthsimple to a corresponding Wealthsimple account; and
- Otherwise meet our eligibility requirements.
You only need to activate the offer once. Eligible transfers must be made between February 1, 2024 and February 29, 2024.
This Reward is non-transferable and cannot be combined with other offers or promotion codes. It cannot be applied retroactively. Limit 1 Promotion participation per Client.
When will I get my bonus?
The bonus will be paid out on or before May 1st, 2024.
All transfers must be initiated during the Promotional Period and must be completed by April 30th, 2024 to be eligible.
Terms & Conditions
2024 Wealthsimple Match Campaign (the “Promotion”)
This Promotion is sponsored by Wealthsimple Technologies Inc. (together with its affiliates “Wealthsimple”).
Promotion Period. From February 1, 2024 at 12:01AM ET to February 29, 2024 at 11:59PM ET (the “Promotion Period”).
Eligibility. To be eligible for the Promotion, the person must:
- be a new or existing Wealthsimple account user, with all Wealthsimple accounts in good standing at the time of participation;
- be a legal resident of Canada;
- be the age of majority, or older, in their province/territory of residence at the time of participation; and
- meet the requirements set out below.
Qualifying Transfer. To participate in the Promotion, eligible Client must perform all of the following during the Promotion Period: (i) register for the Promotion via either (a) the Promotion survey, (b) the Wealthsimple app, or (c) the Wealthsimple registration page, (ii) have a Wealthsimple Self-Directed Investing, Managed Investing, or Crypto account (each a “Wealthsimple Account”), and (iii) initiate a qualified institutional transfer or crypto transfer from their existing investment account at a Canadian investment institution other than Wealthsimple to a Wealthsimple Account (a “Qualifying Transfer”). Please refer to https://wsim.co/transfer-account for more details on account transfer types. For greater certainty, Client-initiated deposits, transfers from entities affiliated with Wealthsimple, transfers to Wealthsimple Save and Cash accounts, and other non-institutional transfers, including but not limited to direct deposits, or funds received via electronic transfers will not be considered a Qualifying Transfer. Any transfer must be received on or before April 30, 2024 to be eligible as a Qualifying Transfer.
If the Client’s Wealthsimple Account is a Spousal RRSP or a joint account where there is a primary and secondary account holder, only the primary account holder will be considered the Client for the purpose of this Promotion, and any transfers to the Wealthsimple Account made by the secondary account holder will count towards the Net Funding Amount (as defined below) for the primary account holder. For greater certainty, the secondary account holder will not be eligible for a Bonus (as defined below).
There are no fees associated with the creation of a Wealthsimple Account. A Client can open a Wealthsimple Account by visiting https://www.wealthsimple.com/en-ca and following the instructions on how to create an account. Further details on transferring an account to Wealthsimple can be found at https://wsim.co/transfer-account.
Wealthsimple reserves the right to exclude the Client from participating in the Promotion if Wealthsimple suspects fraudulent or abusive behaviour, gaming of the system, inappropriate, offensive or derogatory language or information or a violation of these terms, including, but not limited to, Client making a large withdrawal, as determined by Wealthsimple in its sole discretion, prior to participating into the Promotion in order to receive a larger Bonus.
Transfer Fee from External Institutions. There may be fees charged by an institution outside of Wealthsimple for the transfer of the Client’s account(s) to Wealthsimple. Wealthsimple will reimburse the first transfer fee from an institution up to $150 if the Client’s Qualifying Transfer is equal to or greater than $5,000. For transfers less than $100,000, a reimbursement request must be properly and successfully submitted. Further details on reimbursement requests can be found at https://wsim.co/fee-reimbursement.
Cash Bonus. The cash bonus (the “Bonus”) is calculated based on 0.5% of the market value of the cumulative Qualifying Transfers less withdrawals during the Promotion Period (a “Net Funding Amount”). The market value of the Net Funding Amount is calculated as at the date to which Wealthsimple receives a Qualifying Transfer, net of any applicable fees, including but not limited to, transfer fees and foreign exchange fees. Where a Qualifying Transfer is in US currency, the Bonus will be calculated based on the market value at the exchange rate as at the date to which Wealthsimple receives the Qualifying Transfer.
Application of Bonus. The Bonus will be applied to the Client’s Wealthsimple account(s) on or before May 1, 2024. All Wealthsimple account(s) must be in good standing at the time the Bonus is applied. If the Client has more than one funded account at the time the Bonus is applied, it will be applied in the following order of priority:
- Wealthsimple Cash account
- Non-registered or personal Wealthsimple Managed Investing account
- Non-registered or personal Wealthsimple Self-directed Investing account
- Wealthsimple Crypto account
- Wealthsimple Managed Investing TFSA account
- Wealthsimple Self-directed Investing TFSA account
- Wealthsimple Managed Investing RRSP account
- Wealthsimple Self-directed Investing RRSP account
If the Bonus is deposited into a Managed Investing account, the Bonus will be automatically invested in a Managed Investing portfolio within 3 business days in accordance with the Client’s assigned risk level. The risk level can be changed by the Client, and confirmed with an advisor as necessary, at any time.
If the account to which the Bonus will be applied is an RRSP or TFSA account, the Bonus will not be counted towards the Client’s contribution room. Tax implications on the Bonus’ withdrawal apply depending on the account. Clients should contact their personal tax advisor if they require tax advice.
Limit one (1) Bonus per Client. This Bonus is non-transferrable, and cannot be applied retroactively. The Bonus remains subject to change, at Wealthsimple’s sole discretion. The Promotion cannot be combined with other offers or promotion codes other than the Direct Deposit Incentive and the Base Bonus of the Wealthsimple Referral Bonus Promotion. For greater certainty, only the qualified referring individual will be eligible to receive the Additional Bonus of the Wealthsimple Referral Bonus Promotion. The Client who signed for an eligible Wealthsimple account based on the referral will only receive the Base Bonus.
Wealthsimple will send a confirmation e-mail to the Client within twenty-four (24) hours of Promotion registration, five (5) business days of a Qualifying Transfer being received by Wealthsimple, and within twenty-four (24) hours of the Bonus being applied in accordance with these terms and conditions. In the event a Client has an enquiry about their eligibility after their Qualifying Transfer, the Client will have until June 1, 2024 (the “Bonus Enquiry Deadline”) to contact the Wealthsimple Client Support team. Any enquiry after the Bonus Enquiry Deadline will not be accepted and any relevant Qualifying Transfers may be deemed ineligible. Wealthsimple assumes no responsibility or liability for the Client’s failure to contact Wealthsimple before the Bonus Enquiry Deadline.
Currency. All currency shown in these terms and conditions are in Canadian dollars.
Hold Period. Unless specified herein, Clients who receive a Bonus may not spend or otherwise remove funds more than the equivalent of 5% of the (i) cumulative balance of the Client’s Wealthsimple account(s) as at the start date of the Promotion and (ii) cumulative Net Funding Amount from of their Wealthsimple account(s) (“Removal”) for 365 days from the end of the Promotion Period or the Bonus may be deducted from the Wealthsimple account to which the Bonus was applied to, from their final withdrawal amount, or otherwise recovered by Wealthsimple. Transfers between the Client’s own Wealthsimple account(s), withdrawals from the Home Buyers’ Plan or First Home Savings Account for the purpose of purchasing a home, annual mandatory minimum withdrawals from Life Income Fund or Registered Retirement Income Fund, and/or negative fluctuations in the Net Funding Amount solely due to market conditions are not considered Removal. Withdrawals on any profits, dividends, interests or benefits otherwise derived from the Net Funding Amount will be considered a Removal.
Release. By participating in the promotion, the Client assumes all risk of injury, illness, disease, death, or any other damage which may arise in connection with their participation in the Promotion. Without limiting the foregoing, client hereby: (a) forever releases and discharges Wealthsimple and its parent companies, subsidiaries, affiliates, related and associated entities and employees, directors, officers, suppliers, agents, sponsors and administrators of each (collectively, the “Releasees”), from and against any and all claims, actions, costs, liabilities, judgments, damages, obligations, losses, penalties, and expenses of any kind or nature whatsoever (including legal fees) (collectively, the “Claims”) in any way arising directly or indirectly out of any injury, loss, or damage that Client may suffer as a result of, or in connection with the participation in the Promotion or any promotion-related activity, including the posting of the Bonus in their Wealthsimple account and subsequent use of the Bonus; and (b) indemnifies, defends and holds harmless the Releasees from and against any and all damages, loss and expenses, including legal fees, which may be suffered directly or indirectly by reason of the Client’s own negligence or willful misconduct during or in connection with the participation in the Promotion.
General. Wealthsimple reserves the right to amend, withdraw or restrict the promotion at any time without notice. Wealthsimple is the sole arbiter of these rules and any other issue arising under the promotion. If Wealthsimple suspects fraudulent or abusive behaviour, gaming of the system, inappropriate, offensive or derogatory language or information or a violation of these terms, Wealthsimple reserves the right to remove all promotions from the Wealthsimple account(s) and take any other action it deems appropriate including, but not limited to, removing the Bonus or closing the Wealthsimple account(s). This Promotion cannot be used in conjunction with any other promotional offer, unless specified herein. An invitation to participate in this promotion does not provide assurance that you will be accepted as a customer of Wealthsimple. This offer is only valid for individuals in the location cited above that otherwise meet our eligibility requirements. Our standard terms (https://www.wealthsimple.com/en-ca/legal/terms) relating to your use of Wealthsimple and any agreements that apply to your Wealthsimple account(s) each apply and are not affected in any way by this offer.
Does the Match count towards my contribution room?
If the bonus is applied to an RRSP or TFSA account, the Bonus will not be counted towards your contribution room. Tax implications on the Bonus’ withdrawal apply, depending on the account. We suggest you reach out to your personal tax advisor if you have any questions related to tax.
How do I qualify for this offer?
New and existing Wealthsimple clients can qualify for our Match promotion by:
1. Submitting your registration through the promotion form, in your Rewards Centre within the Wealthsimple iOS or Android app (double check that you're on the newest version of the app), or via wealthsimple.com/match. You can register anytime during the promotional period (between February 1, 2024 ET and February 29, 2024 ET).
2. Starting the transferring of your investment accounts or cryptocurrencies to Wealthsimple between February 1, 2024 ET and February 29, 2024 ET. There is no maximum to the bonus you can earn.
Which transfers are eligible?
Only investment account transfers and cryptocurrency transfers are eligible for this promotion. Eligible investment accounts include: RRSPs, TFSA, Non-registered, FHSA, RESP, Spousal RRSP, RRIF, LIRA, LIF, Group RRSP, Corporate/Business accounts, Joint, Spousal RRSP, and all pension-related accounts transferred from your bank or brokerage account. For more information about the various account types we offer, please see our accounts page.
Note that Cash deposits into investment accounts, or into Wealthsimple Cash and/or Save accounts are not eligible for this promotion.
Any transfer fees?
We don’t charge a fee to transfer assets. However, your outside brokerage may charge you a transfer fee to transfer your assets. For any full or partial account transfer into Wealthsimple that's $5,000 or more, we’ll reimburse the transfer fees your other brokerage may charge, up to $150. For transfers less than $100,000, a reimbursement request must be properly and successfully submitted. Further details on reimbursement requests can be found at https://wsim.co/fee-reimbursement.
When do I get the bonus?
Your bonus will be paid out no later than May 1st, 2024. Note that if you make more than 1 account transfer during the promotion period and they get completed at different times, your total bonus may be paid out in increments based on when the transfer lands/completes.
How’s the bonus calculated?
We will calculate the sum of transfers that were initiated between Feb 1 2024 and Feb 29 2024 (inclusive) MINUS any withdrawals made between Feb 1 2024 and Feb 29 2024 TIMES 0.5%
Note that the bonus is only available for assets that successfully transferred and settled, and won’t be granted for those that are cancelled or rejected.
For example, if you transfer assets valued at $40,000 into your Wealthsimple TFSA, and withdraw $3,000 from your Wealthsimple Cash account, your net funding amount will be $37,000. Your Match bonus will be calculated based on that $37,000 and you will receive a bonus of $185.
If you transfer assets in-kind or cryptocurrencies, the value of the transferred assets will be calculated based on market value when the transfer is complete.
If you transfer USD assets or cash, the value of the transferred assets will be calculated using the exchange rate when the transfer is complete. Bonuses will only be paid in Canadian dollars.
Does a RRSP account transfer have an impact on my contribution room, or other tax implications?
No. If you would like to transfer your RRSP account to Wealthsimple, you can do so at any time and it won’t affect your contribution room or have tax implications. If you wish to make new contributions to your RRSP while the transfer is happening, before the RRSP deadline, you can do so in your newly opened Wealthsimple RRSP account, even if your transfer hasn’t completed yet.
How long must my transfers stay in my Wealthsimple accounts?
You’ll need to maintain a minimum balance across your accounts for 365 days, until Feb 28th, 2025, to keep your bonus.
Can I keep the bonus if I withdraw money?
You cannot withdraw more than 5% of: the total balance in all of your existing Wealthsimple accounts at the start of the promo, plus the amount you transferred that qualified for a bonus.
In other words, we will grant you a 5% buffer for transactions and withdrawals. Should you fall below that net funding amount, we will send you a warning email and grant you 30 days to bring your account back into good standing. Ultimately if you decide to withdraw, we would only hold onto the bonus. A client is free to withdraw their assets at any point in time.
Note that withdrawing dividends and capital gains will count as a reduction in your funding amount, but as long as it’s less than 5% you will not be penalized.
Withdrawals from FHSA accounts or Home Buyers Plan that are made when a client is closing on a home will not be counted. Likewise, the annual mandatory minimum withdrawals from a RRIF or LIF account are exempt and will not count as a withdrawal.
Let’s say you had $20,000 in your Wealthsimple account at the start of the promotion, and transferred assets valued at $50,000 to earn a bonus. Your total balance is now $70,000. Since you are granted a 5% buffer, you cannot withdraw more than $3,500 (5% of $70,000) across your Wealthsimple accounts to keep your bonus. Should you withdraw more than this amount before the hold period is over, you will receive a warning email and a 30-day grace period to restore your balance.
How do I confirm that I’ve registered?
When you register, you will receive either an email to the email address associated with your Wealthsimple profile or a card in the Reward Centre confirming your participation in the promotion.
Do transfers need to be completed during the promotional period?
Transfers need to be initiated between February 1, 2024 and February 29, 2024. If transfers are initiated before February 1, and those funds land during the promotional period, they will not qualify. If transfers are initiated between February 1, 2024 and February 29, 2024 and do not settle before February 29, 2024, they will qualify if they settle on or before April 30th, 2024.
Does withdrawing and then re-depositing funds count?
Any withdrawals made between February 1, 2024 and February 29, 2024 will reduce your total net funding amount.
Put simply, you have to keep your net funding balance (the money already in your account before the promotion started) PLUS the value of the external investment accounts that you transfer in. To keep your bonus, you cannot withdraw more than 5% of the sum of those two amounts in your account for 12 full months after the promotion ends.
For example, if you already have $50,000 in your accounts, then deposit $125,000 to qualify for the Promotion, your account balance would be $175,000. For 12 months, you cannot withdraw more than $8,750 - 5% buffer of the $175,000. Withdrawals from subsequent deposits will not affect your bonus..
How do I transfer an account?
Transferring your investment account to Wealthsimple is a simple process that can be initiated either through our app or on our website. Follow these steps to ensure a smooth transfer:
- In the Wealthsimple app or on our website, click on "Move an account to Wealthsimple" and follow the on-screen instructions to initiate the transfer.
- If you do not have an equivalent account type open at Wealthsimple, you will be prompted to open one during the account transfer process.
- After completing all the necessary steps, carefully review your information and click "submit." Wealthsimple will then communicate with your outgoing institution and notify you once the transfer is successfully completed."
You can find more information on transferring an account in this article.
What happens if I want to make a transfer but don’t have a Wealthsimple account?
To transfer-in an account, you’ll need to first open a corresponding WS account to transfer your account into. If you don’t already have an account, you will be prompted to open one as a step in the account transfer process.
Note that if you are new to Wealthsimple, the email you use to register for the promotion must match the email you use to create your Wealthsimple account for your promotion registration to be valid.
Do multiple transfers count towards my net funding total?
Yes! Multiple transfers from third-party accounts count towards your net funding total. Net funding is calculated by adding the total amount of money you transfer into your Wealthsimple accounts (including Managed investing, Self-directed investing and Crypto, but excluding Cash and Save accounts). Your net funding will not decrease if the value of your portfolio decreases due to market fluctuations. However, your net deposit will decrease if you withdraw, spend, or transfer funds from your accounts.
Does it matter when I register?
You may register at any point during the Promotional Period (between February 1, 2024 and February 29, 2024).
Can I “household” or pool transfers together?
No, for this promotion, only transfers will be calculated per individual. When a transfer is initiated into a joint account, the person initiating the transfer will be eligible for the bonus. For transfers into a Spousal RRSP or into a joint account with a primary account holder, transfers will count towards the primary account holder’s eligibility.
I’ve been a long-time client/customer of Wealthsimple. Why is this offer on new transfers only?
Recognizing loyal clients like you is important to us. We balance acquiring new clients with incentives while offering existing and loyal clients low management fees, and high interest with our Cash account.
As you consolidate and continue to build your wealth with us, these fees become even lower, the base interest rate on your cash gets higher, and you can access dedicated support and advice plus additional lifestyle perks that continue to increase the value you get from investing, saving and spending with Wealthsimple. Learn more here.