Live from December 14, 2024 to January 19, 2025
Terms and conditions
When you invite a friend to Wealthsimple, you and your referred friend will both earn a $25 cash reward (Base Bonus) when they sign up and fund any Wealthsimple account.
If you are the referrer, you will also be eligible for an additional cash reward (Additional Bonus) if your friend opens their first Wealthsimple account using your code between December 14, 2024 and January 19, 2025, and funds a qualifying amount to their Wealthsimple account within 30 days of opening their account. Maximum one (1) Base Bonus and one (1) Additional Bonus (if eligible) per qualified referred client.
More details
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The Base Bonus will be applied within 24 hours of your friend opening and funding their new eligible Wealthsimple account.
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If qualified, the Additional Bonus will be applied within 10 business days after the end of the referee funding period.
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The Base Bonus and Additional Bonus (as applicable) 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?
To invite your friends, follow the steps below:
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Sign into the Wealthsimple app on your mobile device
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Tap on the gift icon at the top of the screen
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Tap Get Bonus when you refer a friend
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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 Base Bonus has a value of CAD$25, and the Additional Bonus has a value of up to CAD$975 depending on your friend’s net funding amount. The Bonus and Additional Bonus (together, Bonus) are subject to change. See terms below for more details.
How do I claim my Bonus?
To get your Base 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 to fund their new account.
Once the above steps are carried out, you'll both receive a Base Bonus within 24 hours which you must then claim in the app. You have 30 days to claim the Base Bonus before it expires.
The Base Bonus can be deposited into Self-directed Investing, Cash, Crypto and Managed Investing accounts.
To get the Additional Bonus, which is only available for referrers on referred accounts that were opened between December 14, 2024 and January 19, 2025, the referred friend must fund a qualifying amount into their new account within the period mentioned above. The net funding amount (more details in the full terms) will then be calculated and you will get the Additional Bonus based on the following:
Net Funding Amount (minus withdrawals) | Total Additional Bonus for you (non-cumulative) |
$100,000 - 499,999 | $225 |
$500,000+ | $975 |
If qualified, the Additional Bonus will be applied directly into your Wealthsimple Cash account within 10 business days following the end of the funding period. If you don’t have a Cash account by the time the Additional Bonus is issued, you will have 90 days upon the first Cash account opening requirement notification to open one. After that 90 days, any Additional Bonus not applied to a Cash account will expire and be considered forfeited. Wealthsimple is not liable for any forfeited Additional Bonus and any forfeiture will not be reissued.
Note: There may be tax implications to these bonuses. If the Base Bonus or the Additional Bonus are 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 signed up for a Wealthsimple Self-directed Investing, Crypto, Managed Investing or Cash account within the last 30 days (as long as it is after the Promotion Start Date), you can still use your friend's referral code. To do so, follow the steps below:
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Sign into the Wealthsimple app on your mobile device
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Tap the gift icon at the top of the screen
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Tap Invite friends
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Enter your friend’s unique referral code (the series of 6 letters and numbers found in your invite text)
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If you don't see ‘Enter referral code’, it's likely your account has been open for longer than 30 days
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 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 Base Bonus notification, you can choose to deposit the Bonus into any eligible account. Even with the Additional Bonus being applied to an eligible account, there is no requirement that you purchase any security with any Bonus. 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 Base 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 Base Bonus must be claimed within 30 days or it will be forfeited. If eligible, your Additional Bonus will be automatically applied to an eligible account, but you must make sure all your accounts are in good standing.
Can this Promotion be combined with other sign up bonuses?
Generally, the Base Bonus portion of the promotion 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) Base Bonus (and one (1) Additional Bonus if qualified) in your account (the Referrer) and one (1) Base 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:
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be a Wealthsimple user with all Wealthsimple accounts in good standing (completed account opening with an open account);
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be a legal resident of Canada;
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be the age of majority, or older, in their province/territory of residence at the time of participation; and
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meet the referral requirements set out below
(the “Referrer”).
Eligibility for Referee. To be eligible for the Promotion, the referred individual must:
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be a legal resident of Canada;
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be the age of majority, or older, in their province/territory of residence at the time of participation;
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not have previously registered for or created a Wealthsimple Self-directed Investing, Crypto, Managed Investing, or Cash account (each a “Promotion Account”);
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meet the requirements for registering a Promotion Account; and
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meet the referral requirements set out below
(the “Referee”, together with Referrer, the “Clients”).
Promotion Effective Date. This Promotion effective on June 3, 2024 at 12:01am Eastern Time (ET) (the “Promotion Effective Date”).
Funding Period. Thirty (30) days of the opening of a new Promotion Account (the “Funding Period”).
Qualifying Referral. To participate, the eligible Referrer must provide their promo code to a Referee via the Wealthsimple app, who must sign up for a Promotion Account using the promo code on or after the Promotion Effective Date and deposit qualifying funds into the Promotion Account within the Funding Period (a “Qualifying Referral”).
Bonus. There are two (2) types of bonuses for this Promotion: 1. The base bonus (the “Base Bonus”) has a cash value of $25 and is applicable to both Referrers and Referees based on successful Qualifying Referrals; 2. The additional bonus (the “Additional Bonus”) is a bonus available only to Referrers whose Referee(s) opened their Wealthsimple account between December 14, 2024 and January 19, 2025 using the Referrer’s promo code, and is calculated based on the Referee’s cumulative deposits from an institution outside of Wealthsimple to their Promotion Account less withdrawals (the “Net Funding Amount”) during the Funding Period in accordance to the chart below:
Net Funding Amount (minus withdrawals) | Additional Bonus for Referrer |
$100,000 - 499,999 | $225 |
$500,000+ | $975 |
All amounts are shown in Canadian currency. Deposits from affiliates of Wealthsimple would not qualify as a deposit for the purpose of this Promotion.
Base Bonus and Additional Bonus (together, “Bonus”) are 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. There is no limit to the number of Additional Bonuses a Referrer can be eligible for provided they are Qualifying Referrals that meet the minimum Net Funding Amount required to obtain an Additional Bonus.
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 Base Bonus will be available within 24 hours after the successful Qualifying Referral in accordance with these terms and conditions. The Base Bonus must be claimed within 30 days. Failure to redeem the Base Bonus will result in forfeiture and will not be awarded. The Base Bonus can be deposited into Self-directed Investing, Crypto, Cash or Managed Investing accounts.
In order to receive the Additional Bonus, if applicable, the Referrer must have a Wealthsimple Cash (“Cash”) account that is in good standing. The Additional Bonus will be applied to the Referrer’s Cash account within ten (10) business days following the end of the Funding Period. Clients who do not have a Cash account by the time the Additional Bonus is issued will have ninety (90) days upon the first Cash account opening requirement notification to open a Cash account. Any Additional Bonus not applied to a Cash account will expire after ninety (90) days of issuance and any expired Additional Bonus will be considered forfeited by the Client. Wealthsimple is not liable for any forfeited Additional Bonus and any forfeiture will not be reissued.
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.
Funding Requirement. Once the Referee has opened a Promotion Account, they must fund at least CAD $1 to the Promotion Account within the Funding Period to earn the base bonus (the “Base Bonus”) and at least CAD $100,000 to the Promotion Account within the Funding Period for the additional bonus (the “Additional Bonus”) .
Hold Period. Clients who receive any Bonus must keep the Bonus in their Promotion Account (or another Wealthsimple account) for 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) (collectively, the “Claims”) 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
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