If you've got an RRSP, TFSA, FHSA, or non-registered account sitting at a big bank or another broker, moving it to Wealthsimple is one of the easier ways to pick up a decent cash bonus right now. It also stacks on top of the standard $25 referral bonus.
Here's how the promotion actually works, what the numbers look like, and the exact steps to claim everything you're eligible for.
The transfer match, explained
Transfer an investment account from another institution and you can earn 1% to 3% cash on the total amount moved. Your rate depends on 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 $2,000,000. Clients who registered between July 8 and August 31, 2026 also unlocked a reduced 0.2% match on amounts above that $2,000,000 threshold, but that enhanced tier's registration window has since closed to new sign-ups. It's paid as cash straight into your 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 that, Wealthsimple reimburses your old broker's transfer-out fee (typically $135 to $150 at a Big 5 bank), up to $200 per account, as long as your transfer is $25,000 or more. Switching ends up costing you nothing out of pocket.
Which accounts qualify?
The match applies to accounts moved in from external Canadian institutions. Eligible types include:
- RRSP
- TFSA
- FHSA
- Non-registered investment accounts
- Spousal RRSP
Cash deposits through a bank transfer don't count here. This is specifically for account transfers from another broker or bank.
How to claim it, step by step
- Sign up for Wealthsimple with referral code US0EBW to lock in your $25 bonus at the same time
- Register for the transfer match promotion inside the app, which starts your 30-day window
- Open the destination account (TFSA, RRSP, etc.) if you haven't already
- Initiate the transfer from your old institution within that 30-day window, either through Wealthsimple's in-app tool or by contacting your old broker directly
- Upload your old broker's fee statement once the transfer completes, to claim your fee reimbursement
- Wait it out. Institutional transfers typically take 4 to 6 weeks start to finish
One thing worth knowing: as long as you initiate within your 30-day window, the transfer can settle up to 90 days later and still count.
Does it stack with the referral code?
Yes, and this is honestly one of the better parts. The transfer match combines with:
- The $25 referral bonus (code US0EBW)
- Monthly Millionaire draw entries
- The Mortgage Cash Back offer
- The Direct Deposit incentive
So say a new client signs up with code US0EBW, deposits $100, and transfers a $75,000 RRSP from another bank. They'd be looking at roughly:
- $25 referral bonus
- $750-$2,250 transfer match (1-3% on $75,000)
- ~$150 transfer-out fee reimbursement
That's potentially over $2,400 total, just for moving money you already had sitting somewhere else.
The fee savings on top of the bonus
Even without any bonus at all, switching off bank mutual funds is often worth it purely on fees. The average Canadian bank mutual fund runs a management expense ratio of 1.5-2.5% a year. A diversified ETF portfolio at Wealthsimple typically costs 0.10-0.20% a year.
On a $200,000 RRSP, that gap works out to roughly $2,800-$4,600 saved every single year, not just in year one. The transfer bonus sits on top of that ongoing saving.
What to watch out for
- The 30-day window is firm. Register and forget, and you lose the bonus even if you transfer later.
- In-kind vs. cash transfers. In-kind (moving securities as-is) is usually faster and avoids triggering capital gains on non-registered accounts.
- The match is paid on settled value. If markets shift between initiation and settlement, the bonus is based on the value at settlement, not at initiation.
- Payout runs over 24 months. This isn't a lump sum. Keep your account open and in good standing to collect the full amount.
- Fee reimbursement needs a statement. Upload your old institution's fee confirmation through the app after your transfer completes, so hang onto that document.
- Rates and caps change. Wealthsimple has adjusted this promotion's terms more than once in 2026, so confirm the current match rate and cap in the app before registering.
Frequently asked questions
Can existing Wealthsimple clients claim the transfer match? Yes, it's open to both new and existing clients transferring eligible accounts in from another institution.
How long does a transfer take? Usually 4 to 6 weeks start to finish. 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 move over as registered accounts with no tax consequences. For non-registered accounts, an in-kind transfer avoids a tax event too. If securities get liquidated for a cash transfer, you could realize a capital gain or loss on the sale.
What's the minimum transfer for fee reimbursement? $25,000 or more from a single account to qualify for the up to $200 fee reimbursement.
Can I transfer a US dollar account? Yes, Wealthsimple supports USD accounts. Just know the bonus is calculated net of any FX fees applied during the transfer.
Does the transfer match combine with other promotions? It combines with the referral bonus, Monthly Millionaire, Mortgage Cash Back, and Direct Deposit incentive, but not with most other active promotions. If you're enrolled in something non-combinable, your transfer counts toward whichever one you pick.
🎁 Ready to switch? Register for the transfer match at Wealthsimple with code US0EBW and claim your $25 bonus plus up to 3% on your transfer.
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