Wealthsimple Fall 1% Match Fall Offer
Last updated October 25, 2024
This is a time-limited promotion - deposits or transfers made outside the promotional period below are not eligible.
This promotion is no longer available to be enrolled in.
How do I qualify for this offer?
1. Registering for the offer through one of the following:
- An invitation from a Wealthsimple Business Development Representative or
- The targeted promotional materials for this Offer
2. Open a Wealthsimple Account if the Client does not have one at the time of participation
3. Transfer or deposit qualifying funds into your Self-directed Investing, Managed Investing, Crypto, Save, or Cash account within 30 days of registration.
Frequently asked questions
Is there a minimum funding amount to qualify for a bonus?
There is a minimum of $15k to qualify for a bonus. It means that the sum of all of your transfers and deposits minus withdrawals made needs to be $15k or more.
Is there a limit to how much I can earn?
The maximum Net Funding Amount that will be eligible for the bonus is $5,000,000, so the maximum bonus you can earn is $50,000. You can transfer or deposit more than $5,000,000 but in that case, your bonus will be capped at $50k.
What if I withdraw money, register, and then redeposit, does that count?
No. This promotion was designed to reward clients making net new deposits or transfers in their Wealthsimple account. If you are making large withdrawals from your Wealthsimple account before registering for the promotion, these withdrawals may be included in the calculation of your bonus. If we suspect an attempt to game the system or fraudulent behaviour, we reserve the right to remove you from the promotion and not issue payments.
In which account can I deposit funds?
All Wealthsimple accounts across all products are eligible for funding including Self-directed Investing, Managed Investing, Crypto, Save, and Cash accounts. Please note that cash deposits can not be made to GRSPs and LIRA accounts.
Which institutional transfers are eligible?
Eligible investment accounts include: RRSPs, TFSA, Non-registered, FHSA, RESP, Spousal RRSP, RRIF, LIRA, LIF, 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.
Do I have to pay transfer fees for institutional transfers?
Wealthsimple does not charge any fees to transfer assets. However, your other financial institution may charge you an administrative transfer fee when moving your assets to Wealthsimple. Wealthsimple will automatically reimburse the first transfer-out fee per account from another financial institution if the Client’s Qualifying Transfer is equal to or greater than $15,000 in a single transfer. This means that subsequent multiple transfers, even if each transfer value is equal to or greater than $15,000, from the same account from the same institution will only qualify for one administrative transfer fee reimbursement. More details here.
How do I get the bonus paid to me?
The Bonus will be applied as twelve (12) equal monthly payments to your Wealthsimple Cash account(s) beginning within sixty (60) days of Wealthsimple receiving the Net Funding Amount in full. All Wealthsimple account(s) must be in good standing at the time the Bonus is applied. If you do not have a Cash account, we will prompt you to open one to receive your first monthly payment and you will have 90 days to do so. If you do not open a Cash account within that 90 days, any of the Bonuses issued will be forfeited.
How’s the bonus calculated?
We will calculate the total of transfers and deposits that were initiated between your registration for the offer and 30 days after that minus withdrawals. Your full reward is equal to this total TIMES 1%.
Note that the bonus is only available for assets that successfully transfer and settle, and won’t be granted for those that are canceled or rejected.
If you transfer assets in-kind or in 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.
EXAMPLE
For example, if you transfer assets valued at $40,000 into your Wealthsimple TFSA, and withdraw $4,000 from your Wealthsimple Cash account, your net funding amount will be $36,000. Your bonus will be calculated based on that $36,000 and you will receive a total bonus of $360, paid to you in 12 equal monthly installments of $30 each.
How long must my transfers stay in my Wealthsimple accounts?
To keep your bonus, you must maintain a minimum balance across your accounts for 365 days after the end of the offer period (365 days after you can no longer contribute funds that will be counted to calculate your bonus).
Can I keep the bonus if I withdraw money?
The minimum balance you need to maintain is your net funding amount at the start of the promo (how much you have across all of your Wealthsimple accounts), plus the amount you transferred that qualified for a bonus for 365 days after the end of the Offer Period.
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. A client is free to withdraw their assets at any point in time. If your required balance is not restored by your next payment date, the monthly bonus payments will stop. If your balance is restored after your payment has stopped, you can contact us to request a reinstatement of your future payments. Any bonuses that are missed while your balance is insufficient will not be given again. If we suspect fraudulent behavior, we reserve the right to recover the bonuses previously paid to you.
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, Lifelong Learning Plans, 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 an RRIF or LIF account are exempt and will not count as a withdrawal.
EXAMPLE
Let’s say you had $20,000 in your Wealthsimple account at the start of the offer and transferred assets valued at $50,000 to earn a bonus. Your net funding amount is now $70,000. Since you are granted a 5% buffer, you will need to keep a minimum of $66,500 across your Wealthsimple accounts to keep your bonus. Should your balance fall below $66,500 before the hold period ends, you will receive a warning email. If your balance is restored by the next payment date, your payment will resume. If your balance is not restored, the monthly bonus payments will stop. If you restore your balance after a missed payment, please reach out to our client success team to request a reinstatement. Please note that all missed payments are considered lost.
How often can I register for the offer?
Generally, you can only register once every 365 days for this offer.
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 Center confirming your participation in the offer.
Do transfers and deposits need to be completed within 30 days of registering?
Transfers and deposits need to be initiated within 30 days of your offer period starting i.e. when you registered. We understand that sometimes things are outside of your control and we’ll allow 90 days after your offer period ends for transfers to land in your account.
What happens if I want to make a transfer but don’t have a Wealthsimple account?
To transfer-in an account, you’ll need first to 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 offer must match the email you used to create your Wealthsimple account for your offer registration to be valid.
Do multiple transfers/deposits count towards my net funding total?
Yes! Multiple transfers or deposits from third-party accounts count towards your net funding total. Net funding is calculated by adding the total amount of money you transfer or deposit into your Wealthsimple accounts (including Managed investing, Self-directed investing, Crypto, and Cash accounts) minus any withdrawals. 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.
Can I “household” or pool transfers together?
No, at this time, deposits into a joint account or Spousal RRSP will only count toward the eligibility of the primary account holder (the client who first opened the account). If a secondary account holder deposits into an account in which they are not the primary account holder, those deposits or transfers will count towards the primary account holder’s eligibility.
If you make deposits or transfers to a joint account or a Spousal RRSP, the primary account holder needs to be registered to receive the bonus but both account holders will be able to transfer and deposit into the account and the sum of both will be counted as the qualifying funding amount.
Can I combine this offer with the Wealthsimple x Pine Mortgage Deposit Offer?
No. If you are already registered for the Wealthsimple x Pine Mortgage Deposit offer (“Deposit Offer”) and choose to enroll for this offer instead, any new net deposits you make from this point forward during the offer window will count towards this new registration instead. In other words, you will not be able to earn anything more towards the Deposit Offer and your potential payment rebate will be calculated based on all eligible deposits or transfers you made up until the point of registration for this match offer.
If you decide to participate in the Deposit Offer after you’ve registered for this offer, then upon receiving the mortgage approval from Pine, your registration for this offer will be revoked, and any deposits or transfers you’ve made for this offer will be counted towards the Deposit Offer instead.
Can I combine this offer with the Wealthsimple x Pine Client Rebate Offer?
Yes. The Wealthsimple x Pine Client Rebate Offer rewards Wealthsimple clients with a rebate based on their Wealthsimple client tier. For example, a Premium client can register for this offer and still be eligible for their 0.10% Client Rebate from the Wealthsimple x Pine Client Rebate Offer.
I’ve been a long-time client/customer of Wealthsimple. Why is this offer on new transfers and deposits only?
Recognizing loyal clients like you is important to us. We balance acquiring new clients with incentives while offering existing and loyal clients management fees 4x lower than the average mutual fund, $0 commission (when the cost can be up to $9.99/trade elsewhere) and offer the highest interest chequing account with our Cash account earning up to 4.25% while being completely accessible to use when you need it.
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.
Terms and conditions
What is the Promotion?
This Offer is sponsored by Wealthsimple Technologies Inc. (together with its affiliates “Wealthsimple”).
Offer Period. From September 1, 2024 12:01AM ET to October 15, 2024 at 11:59PM ET (the “Offer Period”)
Eligibility. To be eligible for the Offer, the person must either:
- be a new or existing Wealthsimple Self-directed Investing, Managed Investing, Crypto, Save, or Cash account (each a “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;
- be the original recipient of an Offer invitation from Wealthsimple; and
- meet the requirements set out below. (a “ Client”).
Contribution Period. The offer period begins on the date of the Client’s first registration of the Offer and ends thirty (30) days after (the “Contribution Period”).
Qualifying Action. To participate in the Offer, eligible Client must: (i) register for the Offer via: (a) an invitation from a Wealthsimple Business Development Representative, or (b) the targeted promotional materials for this Offer, (ii) open a Wealthsimple Account if the Client do not have one at the time of participation, then (iii) initiate a deposit(s), qualified institutional transfer(s), or crypto transfer(s) totaling $15,000 or more from their existing investment account at a Canadian investment institution other than Wealthsimple to a Wealthsimple Account during the Contribution Period (“Qualifying Funding”). Please refer to https://wsim.co/transfer-account for more details on account transfer types. For greater certainty, transfers from entities affiliated with Wealthsimple, transfers between the Client’s Wealthsimple accounts, and Wealthsimple Work Group Plan transfers and deposits will not be considered a Qualifying Funding. Funds must be received by Wealthsimple within ninety (90) days of the end of the Offer Period to be considered as a Qualifying Funding.
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.
If the Client’s Wealthsimple Account is an RESP, a Spousal RRSP, or a joint account (each a “Multiple Holder Account”) where there is a primary and secondary account holder, the primary account holder must be the individual registered for the Offer to be eligible for the Bonus (as defined below). Registrations by a secondary account holder in their capacity as a secondary account holder for a Multiple Holder Account are not considered valid registrations for the purpose of this Offer. When the primary account holder is registered for the Offer, any transfers or deposits to the Wealthsimple Account made by the primary or the secondary account holder will count towards the Net Funding Amount (as defined below) for the primary account holder. Any Bonus applied per these terms and conditions would be towards the primary account holder. For greater certainty, the secondary account holder will not be eligible for a Bonus.
If Wealthsimple, as determined at its sole discretion, suspects fraudulent behaviour or gaming the system including, but not limited to, making withdrawals prior to the Offer Period and subsequently depositing part or all of those withdrawals for the purpose of benefiting from this Offer, Wealthsimple reserves the right to include such withdrawals in the calculation of Net Funding Amount (as defined below), disqualify the Client from participating this Offer and to take any other action it deems appropriate including, but not limited to, removing the Bonus, or closing their Wealthsimple account(s).
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 automatically reimburse the first transfer-out fee per account from an institution if the Client’s Qualifying Funding is equal to or greater than $15,000 in a single account transfer. For greater certainty, multiple transfers equal to or greater than $15,000 from the same account from the same institution will only be reimbursed once. Please visit https://wsim.co/fee-reimbursement for further details.
Bonus. The cash bonus (the “Bonus”) is calculated based on: (a) 1% of the market value of the cumulative Qualifying Fundings less withdrawals during the Offer Period (the “Net Funding Amount”), up to a maximum of $5,000,000 of Net Funding Amount. The market value of the Net Funding Amount is calculated as of the date to which Wealthsimple receives a Qualifying Funding, net of any applicable fees, including but not limited to, transfer fees and foreign exchange fees. Where a Qualifying Funding is in US currency, the Bonus will be calculated based on the market value at the exchange rate as of the date to which Wealthsimple receives the Qualifying Funding. All Bonuses will be paid in Canadian currency.
Hold Period. Unless specified herein, Clients who receive a Bonus may not spend or otherwise remove funds more than the equivalent of 5% of (i) any cumulative balance of the Client’s Wealthsimple account(s) as at the start date of the Offer Period, and (ii) the cumulative Net Funding Amount of their Wealthsimple account(s) (“Withdrawal Limit”) for 365 days after the end of the Offer Period. If a Client goes over the Withdrawal Limit, the remaining Bonus may not be awarded for the period in which the minimum required balance was not met, or the remaining Bonus may be stopped altogether. Any missed or ceased Bonus will be considered forfeited and will not be awarded. 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 be counted towards the Withdrawal Limit. Withdrawals on any profits, dividends, interests or benefits otherwise derived from the Net Funding Amount will be counted towards the Withdrawal Limit.
Application of Bonus. In order to receive the Bonus, the Client must have a Wealthsimple Cash (“Cash”) account that is in good standing. Clients who do not have a Cash account by the time a Bonus is issued will have ninety (90) days upon the first Cash account opening requirement notification to open a Cash account. Any Bonus not applied to a Cash account will expire after ninety (90) days of issuance and any expired Bonus will be considered forfeited by the Client. Wealthsimple is not liable for any forfeited Bonus and any forfeiture will not be reissued.
The Bonus will be applied as twelve (12) equal monthly payments to the Client’s Wealthsimple account(s) within sixty (60) days after the full Net Funding Amount has settled in the Client’s Wealthsimple account(s). Once the first Bonus is applied, the remaining Bonus payments will be applied on or around the same day of each subsequent month. All Wealthsimple account(s) must be in good standing at the time the Bonus is applied.
There are tax implications to bonuses of this nature in most instances. Please consult with an accountant or tax professional for additional guidance. Wealthsimple will not be issuing clients a tax slip to report Bonuses paid. Clients are solely responsible for any required tax reporting.
Limit one (1) Bonus per Client per three-hundred and sixty-five (365) days from the start of the Offer Period. This Bonus is non-transferrable, and cannot be applied retroactively. The Bonus remains subject to change, at Wealthsimple’s sole discretion.
Unless specified in the terms other promotions, this Offer cannot be combined with other offers or promotion codes other than the Direct Deposit Incentive, Wealthsimple x Pine Mortgage Client Rebate Offer, and the Wealthsimple Referral Bonus Promotion.
If Client had previously registered for a non-combinable promotion and subsequently registers for this Offer, all deposits and transfers eligible for this Offer will count towards this Offer and not the previously registered non-combinable promotion(s).
If, after registering for this Offer, the Client subsequently registers for another non-combinable promotion(s), please refer to the terms for those promotion(s) for details.
Currency. All currency shown in these terms and conditions are in Canadian dollars.
Release. By participating in the Offer, Client assumes all risk of injury, illness, disease, death, or any other damage that may arise in connection with their participation in the Offer. 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 Offer 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 Offer.
General. Wealthsimple reserves the right to cancel, amend, withdraw or restrict this Offer at any time without notice. Wealthsimple is the sole arbiter of these rules and any other issue arising under this Offer. If Wealthsimple suspects fraudulent or abusive behaviour, gaming of the system or a violation of these terms, Wealthsimple reserves the right to remove all offers and promotions from your Wealthsimple account(s) and take any other action it deems appropriate including, but not limited to, removing the Bonus, or closing your 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 who 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.
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