Wealthsimple Bonus in Canada: How to Claim the $25 Referral Reward (2026 Promotions Guide)
Every few months, someone in a newcomer group asks the same question: “Is Wealthsimple actually giving out a $25 bonus right now?” The honest answer is: it depends on the week, because Wealthsimple runs a rotating set of promotions. Here’s exactly what’s active, how the pieces stack together, and what I’d actually watch out for.
The Current Promotions, in Plain English
As of this writing, Wealthsimple has a few offers running that newcomers can realistically use:
| Promotion | What You Need to Do | What You Get |
|---|---|---|
| Referral bonus | Sign up with a referral link/code, then deposit at least $100 in new (external) funds | A flat $25 cash bonus, deposited into your Wealthsimple Cash account |
| Transfer match | Transfer $25,000+ from another institution into a Wealthsimple investing account | A cash match (a percentage of the transferred amount), paid out over monthly installments rather than all at once |
| Prize draw promotions | Opt in through the app during an active promotional period | Entry into a draw — this is a chance-based promotion, not a guaranteed reward |
Check the requirements for your situation before you count on any of this: Wealthsimple’s promotions change frequently, minimum deposit amounts and payout tiers get adjusted, and some offers are only available to specific account types. Always confirm the live terms directly on Wealthsimple’s site before signing up.
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How to Claim the $25 Referral Bonus, Step by Step
- Sign up for Wealthsimple using a referral link, or add a referral code inside the app within 7 days of opening your account
- Choose the account type you actually need — Cash, Self-Directed Investing, Managed Investing, or Crypto — don’t pick one just to chase the bonus
- Fund the account with at least $100 from an external source (money already inside Wealthsimple, like a transfer between your own accounts, generally doesn’t count)
- Complete the funding within the promotional window, usually 30 days
- The bonus is typically paid into your Wealthsimple Cash account, separate from your investing account
If You’re Transferring a Larger Balance
If you’re moving an existing investment account from another bank or brokerage — say, from a bank-based mutual fund account — the transfer match promotion is usually where the bigger money is, especially compared to the flat $25 referral bonus. The match is normally paid out gradually over many months rather than as a lump sum, so it rewards leaving your money in place rather than moving it again right away.
Before initiating any transfer, confirm:
- Whether your current institution charges a transfer-out fee (Wealthsimple sometimes rebates this — confirm the current terms)
- The exact minimum transfer amount required for the promotion tier you’re aiming for
- Whether the match applies to registered accounts (TFSA, RRSP) as well as non-registered ones
Things to Watch Out For
| Watch Out For | Why |
|---|---|
| Tax implications | Cash bonuses of this kind are often treated as taxable income in Canada — keep a record and check with a tax professional |
| Holding periods | Some bonuses require you to keep the funds in your account for a set period, or the bonus can be reversed |
| “Internal” funding doesn’t count | Moving money you already have inside Wealthsimple between your own accounts generally won’t qualify as a new deposit |
| Choosing an account type for the wrong reason | Don’t open a Managed Investing or Crypto account purely for a bonus if it doesn’t match your actual goals |
Frequently Asked Questions
Is the Wealthsimple $25 bonus real?
Yes, Wealthsimple regularly runs a referral promotion along these lines, but the exact terms (deposit minimum, payout amount, and eligible account types) change over time, so always check the current terms before signing up.
Do I need a lot of money to get a bonus?
No. The referral bonus tier is designed for small deposits (commonly around $100). Larger transfer-match promotions are aimed at people moving an existing five-figure-plus balance from another institution.
Can I stack multiple promotions at once?
Sometimes — Wealthsimple has allowed a referral bonus and a separate transfer match to apply to the same account in the past. Combinability rules can change, so confirm in the app or with Wealthsimple support before assuming two offers will stack.
Is this financial advice?
No. This post explains how a specific set of promotions work based on my own experience and publicly available information. It isn’t personalized investment advice, and whether Wealthsimple is the right platform for you depends on your own goals — always do your own research first.
Are these bonuses taxable?
In many cases, yes — cash bonuses of this type are generally considered taxable. This isn’t tax advice; check with the CRA or a licensed accountant for guidance on your specific situation.
My Takeaway
I treat these bonuses as a nice bonus on top of a decision I’d make anyway, not the reason to make the decision. If you were already planning to open an investing account or move your savings somewhere with lower fees, it’s worth checking what’s currently active before you sign up — but I wouldn’t pick a platform, or rush a transfer, purely to chase a promotion.
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