When you invite your friends to Wealthsimple, you’ll earn a randomly selected cash reward (a “Bonus”) when they sign up and fund a qualifying deposit to any Wealthsimple account. Your friend will also earn a randomly selected cash reward.

The rewards have a value between $5 and $3,000 with an average of $10. Around 99% of people will receive less than $50.

More details

• The cash Bonus will be applied as soon as your friend opens and funds their new eligible Wealthsimple account.
• The referral Bonus won't be applied if the person you invite is an existing Wealthsimple client.
• Due to regulatory restrictions, Quebec residents will not qualify to receive a randomized Bonus. Instead, Quebec residents will get a fixed amount of $10.

Note: 1 entry per Qualified Referral.Referee must be a new Wealthsimple client, being someone who has not opened any Self-directed Investing, Crypto, Managed Investing or Cash account with Wealthsimple in the past.

How do I Refer a Friend?

To invite your friends, follow the steps below:

1. Sign into the Wealthsimple app on your mobile device
2. Tap on the gift icon at the top of the screen
3. Tap Get up to $3,000 when you refer a friend
4. Select Invite friends to share your referral code with contacts or on socials

Note: You cannot refer a friend directly through the desktop version of Wealthsimple.

How does the Bonus work?

The Bonus has a value of between CAD$5 and CAD$3,000 with an average of CAD$10 and ~99% of clients receiving less than CAD$50 at the time of selection. The Bonus is subject to change. 

Wealthsimple randomly selects the Bonus and because the Bonus is chosen randomly, you may not receive the same Bonus as others.

How do I claim my Bonus?

To get your Bonus, your friend will need to open and fund either a Self-directed Investing, Crypto, Managed Investing or Cash account by following your referral link or entering your referral code ($1 minimum needed to fund an account).

Once the above steps are carried out, you'll both receive a Bonus within 24 hours which you must then claim in the app. All steps must be carried out during the Offer Period. After all steps have been completed, the Bonus will be applied within 7 days. You have 30 days after the Bonus is applied to claim it before it expires.

The Bonus can be deposited into Self-directed Investing, Crypto and Managed Investing accounts. If you have opened a Cash account, you will also need to open a Self-directed Investing, Crypto, or Managed Investing account to deposit your Bonus.

Note: There may be tax implications to the Bonus. If you choose to deposit a Bonus into your RRSP or TFSA account it will be reported by Wealthsimple as a contribution to CRA. You are required to review your available contribution room prior to making a contribution to your registered account. Any excess contribution penalties that arise from a contribution are solely the responsibility of you, the client. If you require tax advice, please contact your personal tax advisor. 

I was given a referral link by a friend but I forgot to use it when I signed up. Can I still get the bonus?

If you signed up for a Wealthsimple Self-directed Investing, Crypto, Managed Investing or Cash account within the last 30 days, you can still use your friend's referral code. To do so, follow the steps below:

1. Sign into the Wealthsimple app on your mobile device
2. Tap the gift icon at the top of the screen
3. Tap Get up to $3,000 when you refer a friend
4. Enter your friend’s unique referral code (the series of 6 letters and numbers found in your invite text)
5. If you don't see I was referred by someone, it's likely your account has been open for longer than 30 days

Who Can Enter?

Referee: Must be a new Wealthsimple Self-directed Investing, Crypto, Managed Investing or Cash client meaning they have not previously opened any Wealthsimple Self-directed Investing, Crypto, Managed Investing or Cash account. They must also be a resident of Canada (excluding Quebec - see below).

Referrer: Must be a Wealthsimple Self-directed Investing, Crypto, Managed Investing or Cash account client with accounts in good standing and a resident of Canada (excluding Quebec - see below).

What If I am a Quebec Resident?

Due to regulatory restrictions, Quebec residents will not qualify to receive a randomized Bonus either as Referee or Referrer. Instead, Quebec residents shall receive a $10 Quebec Bonus. You must otherwise be eligible for the promotion. All applicable terms and conditions apply including the 1 entry per qualifying referral. There is no requirement that you purchase any security with the Quebec Bonus.

Wealthsimple will continue to monitor and calibrate the Quebec Bonus as market conditions change. Wealthsimple reserves the right to update the Quebec Bonus and will provide notice of that change here.

Do I have to buy stocks or crypto with my Bonus?

Wealthsimple Self-directed Investing and Crypto do not provide recommendations or investment advice. Once you receive your Bonus notification, you can choose to deposit the Bonus into any eligible account and there is no requirement that you purchase any security with the cash. You alone will be responsible for your investment decisions and Wealthsimple will not consider your financial situation, investment knowledge, investment objectives, savings objectives and risk tolerance when accepting orders from you. 

If you deposit the Bonus into a Managed Investing account, your funds will be automatically invested for you within 5 business days. Your Managed Investing portfolio is selected based on your assigned risk level which you can change at any time.

Do my rewards expire?

Yes. Once you’ve opened and funded an eligible account, your Bonus must be claimed within 30 days.

Can this Promotion be combined with other sign up bonuses?

No, as a general rule, this promotion cannot be used in addition to any other bonus, including other promotional offers for signing up for Wealthsimple.

Referral Arrangement Disclosure

During the Refer Your Friends promotion, you are effectively entering into a referral arrangement with Wealthsimple, whereby Wealthsimple will deposit one (1) Bonus in your account (the Referrer) and one (1) Bonus to your friend’s account (the Referee), once the Referee opens and funds an eligible Wealthsimple account. The names of each party entering this agreement are disclosed on the application at the time of the referral. We have adopted policies and procedures to assist us to identify and control any conflict of interest that we may face. If a referral is made to a registrant, all activity requiring registration resulting from the referral arrangement will be provided.

Terms & Conditions

Wealthsimple Refer Your Friends Promotion

(the “Promotion”)

The Bonus and Odds. The Bonus is a cash value randomly selected for this Promotion. Because they are chosen randomly, you may not receive the same Bonus as others. The Bonus has a value of between CAD$5 and CAD$ 3,000 with an average of CAD$10 and ~99% of clients receiving less than CAD$50. The Bonus remains subject to change, at our sole discretion. The Bonus will be applied within 7 days after Promotion entry in accordance with these terms and conditions. The Bonus must be claimed within 30 days.

Eligibility. To enter and be eligible to win, you must:

1. be a legal resident of Canada (excluding Quebec);
   
   
2. be of the age of majority, or older, in the province/territory of residence at the time of entry; and
   
   
3. meet the entry requirements outlined below.
   
   

Quebec Residents. Quebec residents do not qualify for the Bonus. Instead, Quebec residents that otherwise meet the eligibility criteria and entry requirements will receive a non-randomized reward of no less than $10 at the time of selection (the “Quebec Bonus”). The Quebec Bonus may be updated periodically to reflect changes in market conditions and promotion design. We strongly encourage you to refer to these terms and conditions for the latest details.

Entry Requirements

Qualifying Referral. To enter, a current Wealthsimple Self-directed Investing, Crypto, Managed Investing or Cash client with accounts in good standing (the “Referrer”) must provide their referral code to a new Wealthsimple Self-directed Investing, Crypto, Managed Investing or Cash client (the “Referee”), being an individual who has not previously registered for or created a Wealthsimple Self-directed Investing, Crypto, Managed Investing or Cash account, that signs up for any Promotion Account after following that referral link containing the unique tracking code.

Limit 1 entry per Qualifying Referral.

Bonus. For each Qualifying Referral, the Referrer and Referee will each earn one (1) Bonus.

Promotion Account. In order to qualify and receive the Bonus, both the Referrer and the Referee must have or open a Wealthsimple Self-directed Investing, Crypto, Managed Investing or Cash Investing account (a “Promotion Account”) by visiting http://wealthsimple.com/invite and following the instructions on how to create an account. There are no fees associated with the creation of a Promotion Account.

Funding Requirement. Once the Referee has opened a Promotion Account, they must fund at least CAD $1 to the Promotion Account. The funding requirement must be met within 30 days of account opening and prior to the end of the Offer Period.

Hold Period. Customers who receive a Bonus must keep the Bonus in their Promotion Account (or another Wealthsimple account) for 90 days or the Bonus may be deducted from their final withdrawal amount or otherwise recovered by Wealthsimple.

No purchase necessary. To enter without meeting the funding requirement, the Referee must type out your name, address, city, province or territory, postal code, telephone number, and a unique and original 100-word or more essay on “My Investing Strategy”, and enter it in this form. Except for the funding requirement, you must otherwise qualify for the Promotion in accordance with these terms and conditions, including following the referral link and opening the Promotion Account. If the entry complies with the above requirements, it will result in one (1) entry. Incomplete entries will be void. No script, macro, robotic or other program-assisted, mechanically reproduced, bulk or mass entries are permitted. Limit 1 entry per Qualifying Referral still applies.

Offer Period. This Promotion begins on November 28, 2022.

Release. You assume all risk of injury, illness, disease, death, or any other damage which may arise in connection with your participation in the the Promotion. Without limiting the foregoing, you hereby: (a) forever release and discharge 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 you may suffer as a result of, or in connection with your participation in the Promotion or any promotion-related activity, including the posting of the Bonus in your Promotion Account and subsequent use of the Bonus; and (b) indemnify, defend and hold 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 your own negligence or willful misconduct during or in connection with your participation in the Promotion;

No Recommendation. Neither the Bonus nor identification of a particular security in communications related to this program shall constitute a solicitation of the security or a recommendation to buy, sell or hold the security. Wealthsimple Self-directed Investing and Crypto does not provide investment advice and do not hereby recommend any security, crypto or transaction. There is no requirement that you purchase any security or asset with the Bonus.

Publicity. By participating in the Promotion, you consent to the use of your name, social media handle(s), comments and image, for any publicity carried out by Wealthsimple in relation to the Promotion, without further notice or compensation.

General. This promotion is sponsored by Wealthsimple Technologies Inc. (“Wealthsimple”). Wealthsimple reserves the right to amend, withdraw or restrict the Promotion and/or these terms and conditions 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, inappropriate, offensive or derogatory language, gaming of the system 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 offer cannot be used in conjunction with any other promotional offer, unless specified herein. An invitation to participate in this offer 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.