My friend used my referral link before October 31st, will they count towards this promo?

Terms and conditions

Wealthsimple Apple Premium Referral Promotion (the “Promotion”)

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

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

• be an existing Wealthsimple Self-directed Investing, Managed Investing, Crypto, Cash, Tax, or Mortgage 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; and

• meet the requirements set out below

(the “Referrer”).

Referee Eligibility. To qualify as a Referee, the referred individual must:

• be a legal resident of Canada;

• be the age of majority, or older, in their province/territory of residence at the time of participation; 

• not have previously created a Wealthsimple Account;

• meet the requirements for registering a Wealthsimple Account; and

• meet the referral requirements set out below

(the “Referee”).

Promotion Period. From October 31, 2024 to December 13, 2024 at 11:59PM ET (the “Promotion Period”).

Funding Period. The funding period begins at the time of the Referee’s first opening of their Wealthsimple Account during the Promotion Period and ends thirty (30) days after at 11:59pm ET (the “Funding Period”).

Qualifying Action. To participate in the Promotion, eligible Referrers must successfully refer at least two (2) Referees to open a Wealthsimple Account during the Promotion Period, who must each initiate deposit(s) from a third-party financial institution, institutional transfer(s), or crypto transfer(s) from their existing investment account at a Canadian investment institution other than Wealthsimple, totaling $100,000 or more in Net Funding Amount (as defined below) (“Qualifying Funding”) into their Wealthsimple Account during the Funding Period (a “Qualifying Referral”). The Net Funding Amount is the cumulative transfers and deposits amount into the Referee’s Wealthsimple Account less withdrawals or transfers during the Funding Period (“Net Funding Amount”).  Funds must be received by Wealthsimple within ninety (90) days of the end of the Funding Period to be considered a Qualifying Funding. For greater certainty, transfers from entities affiliated with Wealthsimple, transfers between the Referee’s Wealthsimple accounts, and Wealthsimple Work Group Plan transfers and deposits will not be considered a Qualifying Funding. 

There are no fees associated with the creation of a Wealthsimple Account. An individual 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.

Reward. The reward (“Reward”) is based on the number of successful Qualifying Referrals the Referrer makes in accordance with the chart below:

Other specifications of the Reward not noted in these terms are subject to availability. Wealthsimple reserves the right to substitute the specifications of the Reward if the Referrer’s preferred specifications are not available. Wealthsimple is not responsible for any costs associated with using the Reward. The Reward remains subject to change, at our sole discretion. Wealthsimple reserves the right, for any reason and in its sole discretion, to substitute and/or modify the Reward with another prize that is of equal or greater value. Limit of one (1) Reward per Referrer. 

The Reward is non-transferable, non-exchangeable, non-refundable, and has no cash surrender value. Unless specified in the terms of other promotions, this Promotion can generally be combined with other promotions and offers, other than the Additional Bonus of the Wealthsimple Referral Bonus Promotion. For greater certainty, the qualified referring individual of the Wealthsimple Referral Bonus Promotion will only receive the base bonus and not be eligible to receive the Additional Bonus of the Wealthsimple Referral Bonus Promotion. 

If the Referrer has previously registered for a non-combinable promotion and subsequently participates in this Promotion, all referrals eligible for this Promotion will count towards this Promotion and not the previously registered non-combinable promotion(s).

If, after participating for this Promotion, the Referrer subsequently registers for another non-combinable promotion(s), please refer to the terms for those promotion(s) for details.

There may be tax implications to the Reward. Please consult with an accountant or tax professional for additional guidance. Wealthsimple will not be issuing clients a tax slip to report Reward paid. Clients are solely responsible for any required tax reporting.

Currency. All currency shown in these terms and conditions are in Canadian dollars.

Hold Period. In order for the Referrer to keep the Reward, their Referees may not spend or otherwise remove more than 5% of the minimum cumulative Net Funding Amount from the Referee’s Wealthsimple account(s) (“Withdrawal Limit”) for 365 days after the end of the Funding Period. If a Referee goes over the Withdrawal Limit which results in the number of Qualifying Referrals to fall below the minimum referrals required to obtain the Referrer’s applicable Reward, the Reward retail value as stated in these Terms & Conditions may be deducted from their final withdrawal amount or otherwise recovered by Wealthsimple. Transfers between the Referee’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, and withdrawals by the secondary account holder from a RESP, a Spousal RRSP, or a joint account will be counted towards the Withdrawal Limit.

Delivery of Reward. On or around January 15, 2025, or when all the Referees’ full Net Funding Amount have settled in the Referees’ Wealthsimple account(s), whichever is later (the “Notification Date”) eligible Referrers will receive a communication on instructions to verify the specification of the Reward and mailing address within ninety (90) days of the Notification Date (“Preference Selection”). The mailing address must be a Canadian mailing address and cannot be a P.O. box address. Once a Referrer confirms the Preference Selection, the specification may not be changed. Subject to availability from the Reward provider, the Reward will begin to be distributed within sixty (60) days following the Preference Selection. The Reward will be sent to the Referrer via postal mail. All Wealthsimple account(s) must be in good standing at the time the Reward is sent. No responsibility is assumed by Wealthsimple once the Reward has been shipped. No responsibility is assumed for any delivery returned as undeliverable. Referrer(s) bears all risks to the Reward upon delivery. 

If a Referrer fails to complete the Preference Selection within ninety (90) days of their Notification Date, the Reward will be considered forfeited and no Reward will be sent to the Referrer. Unclaimed Reward, unresponsive communication, or Reward forfeiture will not be rewarded and has no cash value. 

There may be tax implications to the Reward. Please consult with an accountant or tax professional for additional guidance. Wealthsimple will not be issuing Referrers a tax slip to report Reward paid. Referrers are solely responsible for any required tax reporting.

Release. By participating in the Promotion, Referrer 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, Referrer 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 the Referrer 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 Reward in their Wealthsimple account and subsequent use of the Reward; 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 Referrer’s own negligence or willful misconduct during or in connection with their participation in the Promotion.

Referral Arrangement Disclosure. During the Promotion, participants are effectively entering into a referral arrangement with Wealthsimple, whereby Wealthsimple will send the qualifying client a Reward 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.

Apple. Apple, the Apple logo, iPhone, Mac, MacBook Air, and MacBook Pro are trademarks of Apple Inc., registered in the U.S. and other countries and regions.

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 Reward retail value from the Referrer’s Wealthsimple account(s) 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 Promotion is only valid for individuals in the location cited above that otherwise meet our eligibility requirements. The standard terms (https://www.wealthsimple.com/en-ca/legal/terms) relating to the use of Wealthsimple and any agreements that apply to the Wealthsimple account(s) each apply and are not affected in any way by this offer.