Last updated: April 17, 2025

Wealthsimple Referral Bonus Promotion

When you invite a friend to Wealthsimple, you and your referred friend will both earn a $25 cash reward (Bonus) when they sign up and fund any Wealthsimple account. 

More details

• The Bonus will be applied within 24 hours of your friend opening and funding their new eligible Wealthsimple account.
• The Bonus won't be applied if the person you invite is an existing Wealthsimple client.

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

How do I Refer a Friend?

In app:

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. Navigate to the Referrals tab
4. Share your referral link with contacts or on socials

On web:

1. Sign into the Wealthsimple web app
2. Tap on the gift icon at the top right of the screen
3. Copy and share your referral link with friends or on socials

How does the Bonus work?

The Bonus has a value of CAD$25. The Bonus is subject to change. See terms below for more details.

How do I earn 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 entering your referral code ($1 minimum needed to fund an account). Your friend has 30 days from referral code entry to fund their account. If they do not fund the referral relationship will expire. You can re-apply a referral code after the expiry with no limit to how many times you can apply a code before you fund.

Once the above steps are carried out, you'll both receive a Bonus within 24 hours which you must then claim in the app. You have 30 days to claim the Bonus before it expires.

The Bonus can be deposited into Self-directed Investing, Cash, Crypto and Managed Investing accounts. 

Note: There may be tax implications to these bonuses. If the Bonus is deposited to a RRSP or TFSA account, they 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 have never funded your account, there is no limit to when you can apply your friends code. If you have funded your account, you have 7 days to apply a code in order to earn a reward. 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. Navigate to the Referrals tab
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 ‘Enter referral code’, it's likely your account has been open for longer than 30 days

What if more than 30 days have passed since I opened my account with a friend's code?
If you didn’t fund your account within 30 days of applying a referral code, the referral relationship expires. But no stress — you can reapply the same code or a new one. Just be sure to fund your account within 30 days of reapplying to qualify for the Bonus.

 

Who Can Enter?

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. 

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.

Do my rewards expire?

Yes. If you fail to open a Chequing account within 30 days from bonus receipt, your bonus will expire. 

Can this Promotion be combined with other sign up bonuses?

Generally, the Bonus is likely combinable with other promotions or offers, however, every promotion’s combinability is different, so please refer to those offers and promotions terms on whether all or part of this promotion can be combined.

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 with the required qualifying amount. 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”)

This promotion is sponsored by Wealthsimple Technologies Inc. (together with its affiliates “Wealthsimple”). 

Eligibility for Referrer. To be eligible for the Promotion, the person making the referral must:

• be a Wealthsimple user with all Wealthsimple accounts in good standing (completed account opening with an open account);
• be a legal resident of Canada at the time of participation, including when the Bonus is applied;
• be the age of majority, or older, in their province/territory of residence at the time of participation; and
• meet the referral requirements set out below

(the “Referrer”).

Eligibility for Referee. To be eligible for the Promotion, the referred individual must:

• be a legal resident of Canada at the time of participation, including when the Bonus is applied;
• be the age of majority, or older, in their province/territory of residence at the time of participation; 
• not have previously registered for or created a Wealthsimple Self-directed Investing, Crypto, Managed Investing, or Cash account (each a “Promotion Account”);
• meet the requirements for registering a Promotion Account; and
• meet the referral requirements set out below

(the “Referee”, together with Referrer, the “Clients”).

Promotion Effective Date. This Promotion effective on April 7, 2025  at 12:01am Eastern Time (ET).

Qualifying Referral. To qualify for this Promotion, the Referee must fund at least CAD$1 to the Promotion Account. Referee who applied the Referrer’s promo code but had not funded their Promotion Account will have thirty (30) days to fund their Promotion Account before the promo code expires. In the event the Referee did not apply the Referrer’s promo code within the allotted time, Referee must apply the promo code again. Once the Referee has funded their Promotion Account, they will have seven (7) days after funding to apply the Referrer’s promo code (a “Qualifying Referral”).

Bonus. There is a cash bonus of $25 (the “Bonus”) available to both Referrers and Referees based on successful Qualifying Referrals.

All amounts are shown in Canadian currency. Deposits from affiliates of Wealthsimple would not qualify as a deposit for the purpose of this Promotion. 

The Bonus is non-transferrable and cannot be applied retroactively. The Promotion or part of the Promotion may be combined with other offers or promotions. Please check the terms and conditions of the other offers and promotions for details on combinability. The Bonus remains subject to change, at Wealthsimple’s sole discretion. 

Application of Bonus. In order to receive a Bonus, all Clients’ Wealthsimple accounts must be in good standing at the time the Bonus is applied. 

The Bonus will be available within twenty-four (24) hours after the successful Qualifying Referral in accordance with these terms and conditions. The Bonus must be claimed within thirty (30) days. Failure to redeem the Bonus will result in forfeiture and will not be awarded. The Bonus can be deposited into Self-directed Investing, Crypto, Cash or Managed Investing accounts. 

There may be tax implications to the Bonus. If the account which a Bonus will be applied to is a RRSP or TFSA account, the Bonus will be reported by Wealthsimple as a contribution to CRA. Clients are required to review their available contribution room prior to making a contribution to their registered account. Any excess contribution penalties that arise from a contribution are solely the responsibility of the Client. Clients should contact their personal tax advisor if they require tax advice.

Unless specified in the terms of other promotions, this Promotion can be combined with other offers or promotion codes. 

Hold Period. Clients who receive any Bonus must keep the Bonus in their Promotion Account (or another Wealthsimple account) for one-hundred and eighty (180) days from application of the Bonus or the Bonus may be deducted from their final withdrawal amount or otherwise recovered by Wealthsimple.

Referral Arrangement Disclosure. During the Promotion, participants are effectively entering into a referral arrangement with Wealthsimple, whereby Wealthsimple will apply a Bonus into a Wealthsimple Account in accordance with these terms and conditions. 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.

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, the 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) in any way arising directly or indirectly out of any injury, loss, or damage that the Client may suffer as a result of, or in connection with their participation in the Promotion or any promotion-related activity, including the posting of the Bonus in their Promotion 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 their 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 do 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.

General. Wealthsimple reserves the right to cancel, 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). The Promotion or part of the Promotion may be combined with other offers or promotions. Please check the terms and conditions of those specific offers or promotions for details on combinability. 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.