The $25 Wealthsimple bonus comes down to one thing: a qualifying $100 deposit. Plenty of people move $100 and still don't get paid, because the money came from the wrong place or showed up too late. Here's what Wealthsimple actually counts, and how to avoid the common slip-ups.
The rules in plain terms
- At least $100
- From an external source
- Within 30 days of applying the referral code
- Into an eligible account: Trade, Crypto, Managed investing, or Chequing
What counts and what doesn't
| Counts | Doesn't count |
|---|---|
| Transfer from your Canadian bank account | Moving money between your own Wealthsimple accounts |
| Transfer from another investment institution | Peer-to-peer transfers |
| Crypto sent from an external wallet | Wealthsimple bonuses or promo credits |
| Group RRSP transfers | |
| Deposits from Wealthsimple affiliates |
The "doesn't count" column is where most missed bonuses come from. If you already have a Wealthsimple account and shuffle $100 into the new one, that won't qualify.
Fund Chequing if you can
Chequing is the account we'd recommend, for a few reasons. The bonus lands there. Instant deposit amounts in Chequing can be used right away. And some people find the bonus shows up more slowly when they fund other accounts. Registered accounts like a TFSA or RRSP aren't spelled out in the referral terms, so Chequing is the safe pick.
Ways to add money
| Method | What to know |
|---|---|
| Linked bank account | The most common route. Wealthsimple says the waiting period is usually up to 5 business days, sometimes up to 7, with funds released around noon ET on the last day. Some deposits are available instantly, depending on your deposit history and account value. |
| Interac e-Transfer | Listed by Wealthsimple as a deposit option. Their help page doesn't give timing, so check the app for current speed and limits. |
| Debit card, Apple Pay, Google Pay | Also listed as options (Canadian debit card required). The referral rules don't mention them. |
| Transfer from another institution | Counts as a qualifying source. If you're moving an account over, it can stack with the Wealthsimple transfer bonus. |
Wealthsimple's referral rules specifically name bank accounts, other investment institutions, and external crypto wallets as qualifying sources. If you want zero doubt, use a bank account transfer. Cheques, bank drafts, and cash deposits at Canada Post exist too, but the referral rules don't mention them.
Watch the 30-day clock
The clock starts when the referral code is applied, not when your deposit clears. A regular bank transfer can take up to a week or more, so don't leave it until the last few days. Apply the code and start your deposit the same day, and you'll have plenty of buffer.
Already funded before you entered a code? You may still be covered. Our guide on entering a referral code after signing up explains the 7-day window.
Mistakes that cost people the bonus
- Moving $100 over from an existing Wealthsimple account
- Using Wealthsimple's peer-to-peer feature to send yourself money
- Counting a promo credit or bonus toward the $100
- Depositing $99 instead of $100
- Waiting until the final week to start the transfer
How to check it's working
Open the Invite friends tab in the app (or "See referral history" on desktop). If a code is linked, you'll see your referrer's name and the base bonus amount there. Once your qualifying deposit clears, the $25 lands in your Chequing account. If it doesn't show up, our guide on what to do when a referral code isn't working covers the usual causes.
You can always find the current Wealthsimple referral code on the home page.
🎁 Ready to make that first deposit? Open an account with US0EBW and add $100 to get your $25 bonus.
ℹ️ Still have questions? The home page has more guides, current offers, and sign-up bonuses to browse.