What counts as an external deposit at Wealthsimple?
For the referral bonus, an external deposit is money from outside Wealthsimple: a bank deposit, an institution transfer, or crypto from an external wallet. Other programs use different rules, and official terms always win.
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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 rules differ by program
The same money can count for one program and not another. This table reflects official pages at the time of last verification (October 5, 2026).
| Money type | Referral bonus | Monthly Millionaire | 1% match |
|---|---|---|---|
| Deposit from your bank account | Yes | Yes | No |
| Transfer from another investment institution (TFSA, RRSP, etc.) | Yes | Yes | Yes |
| Crypto from an external wallet | Yes | Yes | Only from another Canadian platform, check terms |
| Interac e-Transfer received | Not listed | Yes | No |
| From another Wealthsimple user | No | Yes | No |
| Between your own Wealthsimple accounts | No | No | No |
| Wealthsimple bonuses or promo credits | No | Unclear, check the rules | No |
| Group plan (GRSP) transfers | No | Not listed | No |
| Cash deposit | Not listed | Yes | No |
Net deposits, not gross
Withdrawals reduce your total. For the referral bonus you need $100+ net from outside Wealthsimple within 30 days. Margin debit transferred in is subtracted for the referral and the 1% match.
Bonus landed in a TFSA or RRSP?
Wealthsimple's help article says a bonus deposited to a registered account is reported as a contribution. Bonuses now go to chequing, but watch your contribution room if an older bonus went to a TFSA or RRSP. See confirm your referral.
Related guides
Frequently asked questions
Does a transfer from a friend's Wealthsimple account count for the referral bonus?
No. At the time of last verification, money from another Wealthsimple user did not count toward the referral deposit.
Does an Interac e-Transfer count for the referral bonus?
The official help article lists bank deposits. e-Transfers are not clearly listed, so for certainty use a deposit from a linked bank account.
Do transfers between my own Wealthsimple accounts count?
No. Moving money between your own Wealthsimple accounts does not count for the referral bonus, Monthly Millionaire entries, or the 1% match.
Does a bank deposit count for the 1% match?
No. At the time of last verification, the 1% match only counted transfers from another Canadian investment institution including crypto moved from another Canadian investment platform, not cash or bank deposits.
Why did my Monthly Millionaire entries drop?
Entries are based on net deposits, so withdrawals reduce them. Entries also reset each month. Check the current contest rules.
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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.