Wealthsimple 1% transfer match: how it really pays
Move $25,000 or more from another Canadian institution and Wealthsimple matches 1%, paid over 24 months. You must keep the money in for 730 days.
Last verified
Disclosure: Not affiliated with Wealthsimple. This site earns a referral bonus when you sign up with code LUML7A and meet the terms. Not financial advice. You are responsible for your own decisions.
The offer
At the time of last verification, the promotion was effective May 4, 2026, with terms updated July 27, 2026. Register first, then start transfers totalling $25,000 or more within 30 days. Up to $2,000,000 is eligible, so the maximum bonus is $20,000. See the official terms.
It is paid slowly
Example: a $100,000 transfer earns $1,000, paid as about $41.67 a month for 24 months.
The hold
For 730 days you cannot remove the balance you already had at Wealthsimple when you registered, or more than 20% of the net funding, without payouts being reduced. Bill payments and card payments did not count against you.
What counts
- Counts: institutional transfers such as TFSA, RRSP, FHSA and non registered, received within 90 days after the 30 day window.
- Does not count: cash deposits, Interac e-Transfers, money from Wealthsimple chequing, group plan transfers.
Transfer fees
Wealthsimple reimbursed transfer out fees up to $150 per account on transfers of $25,000 or more, per the offer page.
Is it worth it?
- Compare the match against fees you would pay.
- Ask if you plan to stay 2 years.
- Bonuses may be taxable. Ask a tax professional.
Related guides
Frequently asked questions
Is the 1% paid at once?
No. At the time of last verification, it was paid in 24 equal monthly payments.
What is the minimum?
$25,000 in transfers from another Canadian institution, started within 30 days.
Does a bank deposit count?
No. Cash deposits, Interac e-Transfers and moves between your own Wealthsimple accounts did not count.
What if I withdraw?
Withdrawing more than 20% of the net funding within 730 days can reduce your payouts.
Can I also use a referral code?
The terms listed the referral program as combinable. Code LUML7A is one option.
Sources
Ready to sign up?
Fund a new account with $100+ from outside Wealthsimple within 30 days and you both get $25, at the time of last verification.
Referral code
LUML7A
Last verified October 5, 2026. Official terms always take priority.