This Promotion is sponsored by Wealthsimple Technologies Inc. (together with its affiliates “Wealthsimple”).
Eligibility. To be eligible for the Promotion, the person must:
- be currently enrolled in the existing GRSP with their employer who had set up a new GRSP plan with Wealthsimple (the “Plan”) from January 22, 2025 to March 28, 2025 (“Eligible Period”);
- 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.
(a “ Client”).
Bonus. All eligible Clients will receive a cash bonus (the “Bonus”) calculated based on 1% of the market value of the cumulative amount transferred from their existing GRSP to the Plan (“Qualifying Amount”). To qualify as the Qualifying Amount, the amount transferred must be initiated during the Eligible Period. The market value of the Qualifying Amount is calculated as of the date to which Wealthsimple receives the Qualifying Amount, net of any applicable fees, including but not limited to, transfer fees and foreign exchange fees. Where a Qualifying Amount 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 Amount. 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 5% of the cumulative Qualifying Amount from their Group Plan (“Withdrawal Limit”) for 365 days after the date they are enrolled in the Plan. If a Client goes over the Withdrawal Limit, the Bonus may be deducted from the Wealthsimple account to which the Bonus was applied to, from their final withdrawal amount, or otherwise recovered by Wealthsimple. Any missed or ceased Bonus will be considered forfeited and will not be awarded. Negative fluctuations in the Qualifying Amount solely due to market conditions will not be counted towards the Withdrawal Limit. Transfers between the Client’s Plan to their own Wealthsimple account(s), withdrawals on any profits, dividends, interests or benefits otherwise derived from the Qualifying 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 to the Client’s Cash account(s) within sixty (60) days after the full Qualifying Amount has settled in the Client’s Wealthsimple account(s). 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. 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 of other promotions, this Promotion cannot be combined with other offers or promotion codes other than the Wealthsimple 2025 Big Winter Bundle Promotion, Wealthsimple x Pine Mortgage Cash Back Offer, Wealthsimple Discovery Promotion, Direct Deposit Incentive, and the Wealthsimple Referral Bonus Promotion.
If Client had previously registered for a non-combinable promotion and subsequently registered for this Promotion, all deposits and transfers eligible for this Promotion will count towards this Promotion and not the previously registered non-combinable promotion(s).
If, after registering for this Promotion, 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 Promotion, Client assumes all risk of injury, illness, disease, death, or any other damage that may arise in connection with their participation in the Promotion. 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) 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 Promotion 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 Promotion.
General. Wealthsimple reserves the right to cancel, amend, withdraw or restrict this Promotion at any time without notice. Wealthsimple is the sole arbiter of these rules and any other issue arising under this Promotion. 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 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 does not provide assurance that you will be accepted as a customer of Wealthsimple. This 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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