Stack the Transfer Bonus With Your Referral Bonus
Wealthsimple runs two separate cash promotions that new and existing clients regularly confuse: the standard $25 CAD referral bonus for signing up with a code, and a much larger transfer-match promotion (sometimes shown in the app as the "(Un)Real Deal") for moving a large account balance in from another institution.
The good news is these two programs can be combined. Here's exactly what qualifies, why the order you sign up in matters, and a worked example showing what stacking both actually looks like in dollars.
Quick answer
Yes, you can combine both. Sign up with referral code DGN6-A and fund your account first to lock in the $25 CAD bonus, then register for the transfer-match promotion in the app before you initiate your institutional transfer.
What Is the Transfer-Match Promotion?
Separately from the referral program, Wealthsimple periodically offers a bonus for clients who move a large investment or retirement account balance over from another financial institution, a bank-owned brokerage, a discount broker like Questrade, or another robo-advisor. Instead of a flat dollar amount, this promotion pays a percentage of the transferred balance, typically somewhere in the 1-3% range, scaled up for larger transfers.
Unlike the referral bonus, this promotion usually requires you to opt in or register for it directly inside the app before your transfer is initiated, it isn't automatic just because you moved money in. Because the exact percentage tiers and minimum transfer size change over time, always check the current terms in your Wealthsimple app before you start a transfer.
What Counts as a Qualifying Transfer
Qualifies
- Transfers from a bank-owned brokerage (RBC Direct Investing, TD Direct Investing, etc.)
- Transfers from Questrade, Qtrade, or National Bank Direct Brokerage
- Transfers from another robo-advisor or investment firm
- In-kind or cash transfers of RRSP, TFSA, or non-registered accounts held externally
Does not qualify
- Moving money between your own Wealthsimple accounts (e.g. Cash to Invest)
- Receiving a transfer or payment from another Wealthsimple client
- Wealthsimple-issued bonuses or promotional credits
- Regular external bank deposits that aren't an institutional account transfer
The Order Matters: How to Stack Both Bonuses
To collect both bonuses, follow this sequence exactly:
Sign up for a new Wealthsimple account with referral code DGN6-A before making any deposit.
Deposit at least $100 CAD from an external institution within 30 days to trigger your $25 CAD referral bonus.
In the app, find and register for the current transfer-match promotion (check Promotions or Rewards Hub) before you request the transfer.
Initiate the institutional transfer of your outside account into Wealthsimple.
Once the transfer settles, the transfer bonus is paid according to that promotion's own tiers and timeline, separate from your referral bonus.
Registering for the transfer promotion after your transfer has already been initiated typically disqualifies it, and skipping the referral code before your first deposit means you can only fall back on the 7-day retroactive window, which only applies if you haven't funded the account yet.
A Worked Example
Say Maya is switching from her bank's brokerage to Wealthsimple and plans to move a $35,000 RRSP.
At an illustrative 1% tier, Maya would collect roughly $375 total ($25 CAD referral bonus plus ~$350 transfer bonus) just for consolidating an account she was moving anyway. The exact transfer-bonus percentage depends on the tier active at the time and the size of the transfer, so this figure is for illustration only, not a guarantee.
Always Confirm Current Tiers in the App
Transfer-match percentage tiers, minimum transfer sizes, and eligible account types change periodically and are not part of the standard referral program's terms. Before you initiate any transfer, open the Wealthsimple app, check the current promotion under Promotions or the Rewards Hub, and confirm the exact percentage and any registration steps required.
FAQ
Can I combine the referral bonus with the transfer bonus?
Yes. The $25 CAD referral bonus and the transfer-match promotion are two separate programs with separate rules, and Wealthsimple allows you to qualify for both at the same time. The only requirement is sequencing: sign up with a referral code and satisfy its funding requirement first, then register for the transfer-match promotion before you initiate your institutional transfer.
What counts as a qualifying transfer?
A qualifying transfer is money or in-kind assets moved from an external financial institution into Wealthsimple, for example a bank-owned brokerage, Questrade, Qtrade, National Bank Direct Brokerage, or another robo-advisor. Moving funds between your own Wealthsimple accounts (like Cash to Invest) or receiving money from another Wealthsimple client does not qualify.
Does the order I sign up matter?
Yes. Enter the referral code and complete your account funding before you register for the transfer-match promotion or initiate the transfer itself. If you start the transfer first and add a referral code afterward, you risk missing the referral program's funding and retroactive windows entirely.
How big is the transfer bonus?
Wealthsimple's transfer-match promotion typically pays a percentage of the transferred amount, in the 1-3% range depending on how much you transfer, but the exact tiers change from time to time. Always confirm the current percentage tiers in the Wealthsimple app before initiating your transfer.
Haven't signed up yet? Use code DGN6-A to lock in your $25 CAD bonus before you register for the transfer-match promotion.
Sign Up With Code DGN6-AThis site contains referral links and is not affiliated with or endorsed by Wealthsimple. We may earn a bonus if you sign up using our code. Promotion terms, including transfer-match percentage tiers, are set by Wealthsimple and subject to change without notice; confirm current terms in the app before acting. This page is for informational purposes only and does not constitute financial advice.