If you have an RRSP, TFSA, FHSA, or non-registered investment account sitting at a big bank or another Canadian broker, moving it to Wealthsimple is one of the most straightforward ways to get a large cash bonus in 2026 — and it stacks on top of the standard $25 referral bonus. Here is how the full promotion works, what the real numbers look like, and the exact steps to claim everything available.
The Wealthsimple Transfer Match: How It Works
When you transfer an investment account from another institution to Wealthsimple, you can earn a 1% to 3% cash bonus on the total amount transferred. The match rate depends on whether you qualify for Active Trader status:
| Transfer Match | Who Qualifies |
|---|---|
| 1% | All eligible clients who register and transfer |
| 3% | Clients with Active Trader status in any month during the promotion |
The bonus is calculated on the market value of the net amount transferred, up to a maximum of $2,000,000 (with a special higher cap running through August 31, 2026 for eligible clients). It is paid as cash directly into your Wealthsimple account.
What Does That Actually Pay Out?
| Transfer Amount | 1% Match | 3% Match |
|---|---|---|
| $25,000 | $250 | $750 |
| $50,000 | $500 | $1,500 |
| $100,000 | $1,000 | $3,000 |
| $200,000 | $2,000 | $6,000 |
On top of the match, Wealthsimple reimburses your old broker’s transfer-out fee — typically $135 to $150 at a Big 5 bank — up to $200 per account, when your transfer is $25,000 or more. That means switching costs you nothing out of pocket.
What Accounts Are Eligible?
The transfer match applies to accounts transferred from external Canadian financial institutions into a Wealthsimple account. Eligible account types include:
- RRSP — Registered Retirement Savings Plan
- TFSA — Tax-Free Savings Account
- FHSA — First Home Savings Account
- Non-registered investment accounts
- Spousal RRSP
Cash deposits (e.g. bank transfers) do not qualify for the transfer match — it applies specifically to institutional account transfers from another broker or bank.
How to Claim the Transfer Bonus: Step by Step
- Sign up for Wealthsimple using referral code US0EBW to lock in your $25 referral bonus at the same time
- Register for the transfer match promotion inside the Wealthsimple app — this starts your 30-day window to initiate a transfer
- Open the destination account at Wealthsimple (TFSA, RRSP, etc.) if you have not already
- Initiate the transfer from your old institution within 30 days of registering. You can do this directly through Wealthsimple’s in-app transfer tool or by contacting your old broker
- Upload your old broker’s fee statement through the app after the transfer completes to claim your fee reimbursement
- Wait for the transfer to settle — institutional transfers typically take 4 to 6 weeks end to end
One important detail: as long as you initiate the transfer within your 30-day window, it can settle up to 90 days after the window closes and still qualify for the match.
Does the Transfer Bonus Stack With the Referral Code?
Yes — this is one of the best parts. The transfer match promotion is explicitly combinable with:
- The $25 referral bonus (code US0EBW)
- Monthly Millionaire draw entries
- The Mortgage Cash Back offer
- The Direct Deposit incentive
So a new client who signs up with code US0EBW, deposits $100, and transfers a $75,000 RRSP from RBC could receive approximately:
- $25 referral bonus
- $750–$2,250 transfer match (1–3% on $75,000)
- ~$150 RBC transfer-out fee reimbursement
That is potentially over $2,400 total, just for moving an account you already had — You can get more details about the sign up offer at our Wealthsimple promo code page.
The Fee Savings Beyond the Bonus
Even without any bonus, switching from bank mutual funds to Wealthsimple is often worth it purely on fees. The average Canadian bank mutual fund charges a management expense ratio (MER) of 1.5–2.5% per year. A diversified ETF portfolio at Wealthsimple typically costs 0.10–0.20% per year.
On a $200,000 RRSP, that difference is roughly $2,800–$4,600 saved per year in fees alone — every single year, not just in year one. The transfer bonus is on top of that permanent saving.
What to Watch Out For
The 30-day window is firm. You must initiate the transfer within 30 days of registering for the promotion. If you register and forget, you lose the bonus even if you transfer later.
In-kind vs. cash transfers. You can transfer your existing holdings in-kind (securities move as-is without selling) or as cash (securities are sold first). In-kind is usually faster and avoids triggering capital gains on non-registered accounts.
The match is paid on settled value. If markets move between initiation and settlement, the bonus is calculated on the value at settlement — not at the time you initiated the transfer.
The 24-month payout period. The transfer match bonus is paid in instalments over 24 months, not as a single lump sum. You will need to keep your account open and in good standing to receive the full amount.
Fee reimbursement requires a statement. To claim the transfer-out fee reimbursement, you will need to upload your old institution’s fee confirmation through the Wealthsimple app. Keep this document after your transfer completes.
Frequently Asked Questions
Can existing Wealthsimple clients claim the transfer match? Yes. The transfer match is available to both new and existing Wealthsimple clients who transfer eligible accounts from external institutions.
How long does a transfer to Wealthsimple take? Most institutional transfers take 4 to 6 weeks from initiation to settlement. As long as you initiate within your 30-day window, transfers settling up to 90 days later still qualify.
Does transferring trigger a tax event? For registered accounts (RRSP, TFSA, FHSA), no — they transfer as registered accounts and there is no tax event. For non-registered accounts, if you transfer in-kind, no immediate tax event occurs. If securities are liquidated for a cash transfer, capital gains or losses may be realized on sale.
What is the minimum transfer for fee reimbursement? Your transfer must be $25,000 or more from a single account to qualify for Wealthsimple’s transfer-out fee reimbursement of up to $200.
Can I transfer a US dollar account? Yes — Wealthsimple supports USD accounts. Note that the bonus is calculated net of any foreign exchange fees applied during the transfer.
Does the transfer match combine with other active promotions? The transfer match combines with the referral bonus, Monthly Millionaire, Mortgage Cash Back, and Direct Deposit incentive. It does not combine with most other active Wealthsimple promotions. If you are enrolled in a non-combinable promotion, transfers count only toward the one you choose.
🎁 Ready to switch? Sign up at Wealthsimple with referral code US0EBW, then register for the transfer match in-app to claim your $25 bonus + up to 3% on your transfer.