Wealthsimple Referral
Wealthsimple Promotions & Rewards – Frequently Asked Questions
Is Wealthsimple safe?
Yes. Wealthsimple is regulated in Canada, is a CIRO member, and uses bank-level encryption. Your accounts are protected by CIPF up to $1 million per account type. Wealthsimple has a strong track record of security and compliance.
How much do I need to start?
There is no account minimum. You can start investing with any amount.
What types of accounts does Wealthsimple offer?
Wealthsimple offers RRSP, TFSA, RESP, non-registered, USD savings, and more. They also offer crypto trading, managed portfolios, and tax filing. See the promos for details.
How do I get my referral bonus?
Sign up using a referral link, fund your account, and meet the eligibility criteria. The bonus will be credited to your account automatically.
Can I refer others?
Yes! Once you join, you'll get your own referral link to share with friends and family. Both you and your referrals can earn bonuses.
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 have never funded your account, there is no limit to when you can apply your friend's code. If you have funded your account, you have 7 days to apply a code in order to earn a reward. To do so, follow the steps below:
- Sign into the Wealthsimple app on your mobile device
- Tap the gift icon at the top of the screen
- Navigate to the Referrals tab
- Enter your friend's unique referral code (the series of 6 letters and numbers found in your invite text)
- If you don't see 'Enter referral code', it's likely your account has been open for longer than 30 days
What if more than 30 days have passed since I opened my account with a friend's code?
If you didn't fund your account within 30 days of applying a referral code, the referral relationship expires. But no stress — you can reapply the same code or a new one. Just be sure to fund your account within 30 days of reapplying to qualify for the Bonus.
Who can get the bonus?
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.
Can this Promotion be combined with other sign up bonuses?
Generally, the Bonus 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.
How does the Bonus work?
The Bonus has a value of CAD$25. The Bonus is subject to change.
Who qualifies as a new client (referee) for the referral bonus?
The referee must be a new Wealthsimple client, meaning someone who has not opened any Self-directed Investing, Crypto, Managed Investing, or Cash account with Wealthsimple in the past.
What promotions are currently available at Wealthsimple?
Wealthsimple offers a variety of promotions, including referral bonuses, cash card rewards, deposit boosts, and limited-time offers. Visit the official promotions page for the latest details and eligibility.
How do Wealthsimple Cash card rewards work?
When you use your Wealthsimple Cash card, you earn 1% cashback on all purchases. You can choose to receive your rewards as cash, or automatically invest them in stocks or crypto. Some limited-time offers may increase your cashback rate or provide additional rewards. See this article for full details.
How do I become eligible for a Wealthsimple promotion?
Eligibility varies by promotion. Most offers are for new clients who have not previously opened a Wealthsimple account. Some promos require a minimum deposit, specific account type, or use of a referral link or code. Always check the terms and conditions of each promotion on the official promo page.
Can I combine multiple Wealthsimple promotions?
Some promotions can be combined, but not all. For example, you may be able to combine a referral bonus with a deposit boost, but not with every limited-time offer. Always review the terms of each promotion or contact Wealthsimple support for clarification.
How and when are promo rewards paid out?
Promo rewards are typically credited to your Wealthsimple account after you meet the eligibility criteria (such as funding your account or making a qualifying purchase). Timing varies by offer—some are instant, others may take several days or weeks. Check the specific promo details for payout timelines.
Where can I check the status of my promo or referral reward?
You can view your promo and referral status in the Wealthsimple app under the "Referrals" or "Promotions" tab. For Cash card rewards, check the "Activity" section. If you have questions about a specific reward, contact Wealthsimple support.
What are deposit boosts and how do they work?
Deposit boosts are limited-time offers that increase your interest rate or provide a cash bonus when you deposit a qualifying amount into your Wealthsimple account. Terms and eligibility vary—see the Deposit Boosts section for current offers and details.
Do Wealthsimple promotions expire?
Yes, most promotions have an expiry date or are available for a limited time. Always check the official promo page for current offers and deadlines. Some rewards (like ongoing Cash card cashback) do not expire as long as your account is in good standing.