What new Wealthsimple clients can actually get
The dependable Wealthsimple sign up bonus is the referral bonus: $25 CAD, paid after you sign up with a referral code and deposit $100 from a bank outside Wealthsimple within 30 days. It is available year-round.
Wealthsimple also runs promotional offers and transfer bonuses at various times. These are worth more, sometimes considerably, but they are separate programs with heavier requirements — and you should not assume they stack with the referral.
Three different things get called "the Wealthsimple bonus"
Most of the confusion around Wealthsimple sign up bonuses comes from treating these as one offer. They are not.
| Type | Typical size | What it requires |
|---|---|---|
| Referral bonus | $25 | Referral code at signup + $100 external deposit within 30 days |
| Promotional offer | Varies, seasonal | Set by the specific promotion — often a deposit threshold held for a period |
| Transfer bonus | Largest — scales with assets | Transferring investments in from another institution, usually with a minimum hold |
When a comparison site advertises a large "Wealthsimple sign up bonus", it is nearly always describing a transfer promotion, not the referral. Both can be real. They have different requirements, and the large one is the one people fail to qualify for.
The $25 referral bonus
This is the offer that is always there, and the one with the lowest bar to clear. No minimum ongoing balance, no direct deposit requirement, no payroll setup.
- $25 to you, $25 to the referrer. An even split, which is uncommon.
- $100 minimum deposit, from a bank account held outside Wealthsimple.
- 30-day window from signup to make that deposit.
- 180-day hold on the bonus — investable inside Wealthsimple, not withdrawable.
- All provinces, Quebec included.
Promotional and transfer bonuses
Promotional offers run seasonally and change. Because they change, no third-party page — this one included — can tell you reliably what is live today. Check Wealthsimple's own site at the moment you apply.
Transfer bonuses reward moving existing investments in from another brokerage or bank. They are calculated against the value transferred, which is why the headline numbers are large, and they generally require you to keep the assets in place for a minimum period. If you are moving a meaningful portfolio, this is the offer that matters; the $25 referral is a rounding error by comparison.
Do not assume a referral bonus and a promotional or transfer bonus can be claimed together. They are governed by separate terms, and some promotions explicitly exclude other offers. If you intend to claim both, verify the current terms of each before you deposit — the conditions cannot be applied retroactively.
Which offer makes sense for you
| Your situation | Worth pursuing |
|---|---|
| Opening a first account, depositing a small amount | Referral bonus. It is the only one you will realistically qualify for, and it costs nothing extra. |
| Moving a portfolio from another brokerage | Transfer bonus first. Check whether a referral can also be applied at signup before you initiate the transfer. |
| Wanting cash you can withdraw quickly | None of them. The referral bonus is held 180 days, and larger offers typically have longer or stricter conditions. |
Whatever else you do, apply a referral code at signup. It is the one decision that cannot be reversed later, and there is no version of opening the account where skipping it leaves you better off.