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Wealthsimple currently has three offers running: Millionaire of the Month, the 1% transfer match and the 3% match for Active Traders. Depending on your situation, you can enter a monthly draw or receive a match worth up to 3% on an eligible transfer.
Here is how these Wealthsimple promotions work, what their conditions are and which dates matter.
Wealthsimple is currently putting three distinct offers forward. They do not all target the same client profile.
The 1% transfer match and the 3% match for Active Traders are linked. You do not receive both on the same transfer.
The match is 1% by default. It can rise to 3% for the months when you hold Active Trader status.
Millionaire of the Month is a monthly Wealthsimple contest. Each edition has four weekly draws, with the $1M grand prize in the final week. Here is the August 2026 edition:
On top of those four grand prizes come 143,400 secondary prizes: cash deposits of $5 to $500, and 100 Monos carry-on suitcases per draw. The August 2026 edition has 143,404 prizes in total.
To enter, you have to sign up for the contest. Opening and funding a chequing account gives you 500 starting entries.
You can then collect more entries by saving, transferring investments or inviting people you know.
You get, among others:
An example: you deposit $500 and withdraw $200 during the period. Your net deposit is $300, which is worth 300 entries, or 600 with direct deposit. Your 500 starting entries also become 1,000 in that case.
Entries add up from one weekly draw to the next until the million-dollar draw, then go back to 500 when the following edition starts.
For a referral to count, four conditions apply:
Several account types can feed your entries. Wealthsimple mentions RRSPs, TFSAs, FHSAs, RESPs with the QESI, non-registered accounts and crypto accounts.
Deposits and transfers still have to meet the contest conditions. For example, activity carried out before the eligible period does not count.
The current edition started on July 30, 2026 and ends on August 26, 2026 at 11:59 p.m. Eastern time. The $1M grand prize draw takes place the next day, on August 27.
No purchase is required and a skill-testing question has to be answered. You do need the Wealthsimple app and a chequing account to receive a prize, since cash amounts are deposited straight into it.
Millionaire of the Month is an ongoing contest, though, and the editions follow each other without a gap: the September one starts on August 27. Eligible activity that does not make it in time for the current draw automatically rolls into the next edition, as long as you stay enrolled.
Draws take place on Thursdays. Check the app or the website on Thursday evening to see whether you won, and an email confirms any win.
The 1% transfer match pays a bonus equal to 1% of the value of eligible transfers.
You first have to sign up for the promotion. You then have 30 days to start your transfers.
The total amount transferred has to reach at least $25,000. You can combine several transfers to reach that minimum.
The match equals 1% of net eligible transfers. For example:
The 1% rate applies up to $2,000,000, for a $20,000 match. For a sign-up made between July 8 and August 31, 2026, the portion above that amount earns 0.2%, up to $10,000,000 in net funding. The maximum match then reaches $36,000.
Transfers have to come from another Canadian investment institution and go into an eligible Wealthsimple account.
Wealthsimple mentions Self-directed investing, Managed investing and Crypto accounts.
Cash deposits, Interac e-Transfers and transfers between your own Wealthsimple accounts are not eligible.
The transfer has to be started within the 30 days following your sign-up. Wealthsimple then allows up to 90 more days after that period for the funds to arrive.
The match is paid in 24 equal monthly instalments. You need a Wealthsimple chequing account in good standing to receive them. You can read our guide to the Wealthsimple chequing account for its main features.
For example, a $1,000 match works out to about $41.67 a month for 24 months.
The holding period matters too. As a rule, withdrawal limits apply for 730 days after the end of your qualification period.
The promotion conditions show an effective date of May 4, 2026. They set no general end date: your qualification period is calculated individually from your sign-up. One date does matter, August 31, 2026. The enhanced 0.2% treatment on the portion above $2,000,000 only applies to sign-ups made between July 8 and August 31, 2026.
Wealthsimple still reserves the right to change, withdraw or limit the promotion at any time.
The 3% match for Active Traders is an enhanced version of the match, offered to clients who hold Active Trader status.
You first have to sign up for the promotion and transfer at least $25,000 within 30 days.
You then have to meet the conditions tied to Active Trader status. Wealthsimple states that you need at least 50 stock trades a month to reach it.
The 3% rate applies to net eligible transfers, up to a maximum of $2,000,000. The maximum match therefore reaches $60,000.
The 3% should not be seen as a rate guaranteed for the full 24 months, though.
Your rate depends on the Active Trader status you held in the previous calendar month. If you lose that status, your instalments drop to 1% for the months concerned.
No. For a given month, your instalment is either 1% or 3%, never both.
If you hold Active Trader status under the applicable conditions, the rate can rise to 3%. Otherwise, it goes back to 1%.
Someone already signed up for the 1% transfer match can also become eligible for the 3% rate by reaching the required status within the period set out in the conditions.
The current conditions show an effective date of June 3, 2026. They set no general end date. As with the 1% transfer match, your qualification period starts when you sign up and runs 30 days.
Wealthsimple can still change or end the promotion under the applicable terms.
The best Wealthsimple promotion depends mostly on your situation.
Millionaire of the Month is probably the most accessible offer. You can collect entries with your deposits, transfers and certain other eligible activity.
The 1% transfer match becomes particularly interesting. An eligible $100,000 transfer represents a potential $1,000 match.
You do have to meet the qualification period and the applicable holding period.
The 3% match for Active Traders can pay more. A $100,000 transfer could then give $3,000 rather than $1,000, subject to the applicable conditions.
The 3% rate does depend on keeping Active Trader status, though.
A promotion should not be your only deciding factor. Before transferring a large amount, you can also check whether Wealthsimple is safe and understand the protections offered to clients.
You can also read our Questrade and Wealthsimple comparison before deciding.
Wealthsimple also has credit cards: see our review of the Wealthsimple Visa Infinite cards.
A promotion can be worth several hundred or several thousand dollars. The conditions still have to be met for the match to be paid.
Here are the main things to check:
You should also check whether your current institution charges transfer fees.
Wealthsimple states that it reimburses certain fees when an eligible transfer of at least $25,000 is made in a single transfer.
Depending on the amount transferred, you could also move into another account tier and reach other benefits.
Wealthsimple also has two Visa Infinite credit cards, with high eligibility requirements.
Finally, before transferring your investments, read our guide to investing with Wealthsimple to understand the platform better.
Matches can have tax consequences. Wealthsimple states that clients remain responsible for their own tax obligations. For the 1% transfer match and the 3% match for Active Traders, the conditions note that the payments may be taxable.
The tax treatment depends on the account type and on the nature of the payment. If you receive a large match, it can be worth speaking with a tax specialist.
The Wealthsimple promotions running right now can be worthwhile, but they answer different needs.
Millionaire of the Month lets you collect entries for a $1M monthly draw. The 1% transfer match pays up to $20,000 on eligible transfers, and up to $36,000 with the enhanced tier. The 3% match for Active Traders can reach $60,000 for eligible clients.
Before transferring your investments, check the conditions and your qualification period. Above all, do not choose Wealthsimple for a promotion alone. Compare the full set of features, fees and services against your profile.
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