Transfer bonus
Get a 1% match on account transfers
How to claim your transfer bonus
Register
Sign up for the transfer bonus in-app or online.
Transfer at least $25,000
Move $25,000 from another institution within 30 days (it doesn’t need to be all at once).
Get a match
Your match will be deposited every month into your chequing account over 24 equal payments. Conditions apply.
Unlike flat cash bonuses, our match scales with your transfer — 1% of what you move, up to $20,000.
Comparing transfer bonuses
Transfer bonuses are simple: The more you move to us, the more you’ll get paid. But other bonuses often aren’t as straightforward — or as lucrative.
Our 1% match | A flat cash bonus | Free trades or credits | Just a transfer fee waiver | |
|---|---|---|---|---|
| How you’re paid | You’re paid a percentage of what you transfer, up to $20,000 | You get a fixed amount, no matter how much you move | You get an amount transferred to your account, but only if you trade often | You only get the cost of your transfer-out fee covered |
| On a $50,000 transfer | $500 | Often $50 - $500 | $0, unless you trade often | Usually up to $150 |
| On a $250,000 transfer | $2,500 | Often $50 - $500 | $0, unless you trade often | Usually up to $150 |
| Transfer fee reimbursement | It’s covered, up to $150 per account | It’s covered... sometimes | It’s covered... sometimes | It’s covered — but that’s the whole offer |
How to transfer an account (and skip the transfer fees)
Switching to Wealthsimple? We’ll cover the transfer-out fee your old institution charges — up to $150 per account.
Most banks and brokerages charge a transfer-out fee — often $50 to $150 per account. We don’t think switching should cost you anything, so when you transfer $25,000 or more to Wealthsimple, we'll reimburse that fee.
Step 1
Start your transfer to Wealthsimple of $25,000 or more.
Step 2
Your old institution charges its transfer-out fee.
Step 3
Send us the proof, and we'll reimburse the fee — up to $150 per account.
Ready to transfer to Wealthsimple?
T&Cs apply. By providing your information you consent to receiving communications from Wealthsimple. You may withdraw consent at any time. By signing up, you agree to Wealthsimple’s Terms of Use and Privacy Policy. Contact us at privacy@wealthsimple.com or 80 Spadina Ave., Toronto, ON.
FAQs
Does Wealthsimple pay you to transfer your investments?
Does Wealthsimple pay you to transfer your investments?
Yes. When you transfer investments to Wealthsimple, you can earn a 1% match on the amount you move over, plus reimbursement of your transfer fees. The match applies to transfers of $25,000 or more and is paid out over 24 months.
How much is the Wealthsimple transfer bonus?
How much is the Wealthsimple transfer bonus?
The bonus is 1% of the net amount you transfer up to a maximum of $20,000. For example, transferring $100,000 earns a $1,000 match at the 1% rate. It's paid in 24 equal monthly deposits.
What accounts are eligible for the transfer bonus?
What accounts are eligible for the transfer bonus?
Most Wealthsimple accounts qualify, including TFSA, RRSP, FHSA, personal (non-registered), corporate, managed, and crypto accounts. The funds need to come from another financial institution — moving money between your own Wealthsimple accounts doesn’t count.
Is there a minimum transfer amount?
Is there a minimum transfer amount?
Yes. You need to transfer at least $25,000 within 30 days of registering to qualify for the match. You can combine transfers across multiple accounts to reach the $25,000 minimum.
Does Wealthsimple reimburse transfer fees?
Does Wealthsimple reimburse transfer fees?
Yes. When you transfer $25,000 or more, Wealthsimple reimburses the transfer-out fee your previous institution charges — up to $150 per account. Send us proof of the fee once your transfer completes and we'll credit it back.
When do I get paid the transfer bonus?
When do I get paid the transfer bonus?
Your match is paid into your chequing account in 24 equal monthly deposits, beginning after your transfer settles. The full bonus is paid over 2 years, as long as you keep the transferred amount invested.
Will transferring my RRSP or TFSA trigger taxes?
Will transferring my RRSP or TFSA trigger taxes?
No. Transferring an RRSP, TFSA, or FHSA directly between institutions isn't a taxable event — your registered funds keep their tax-sheltered status. Keep in mind the match payment itself may be taxable. This isn't tax advice, so consider speaking with a tax professional about your own situation.
Do I need a Wealthsimple chequing account?
Do I need a Wealthsimple chequing account?
Yes. Your monthly match payments are deposited into a Wealthsimple chequing account, so you'll need one in good standing to receive them. You can open one in the app if you don't have one yet.
Do I have to register before transferring?
Do I have to register before transferring?
Yes. Register for the offer first — in the app or online — then you have 30 days to start your transfer. Transfers made before you register won't qualify for the match.
What kinds of transfers don't count?
What kinds of transfers don't count?
Cash deposits, Interac e-Transfers, and transfers between your own Wealthsimple accounts don't count toward the bonus. The match applies to investment, savings, and crypto accounts moved over from another financial institution.
Can I combine multiple transfers to reach the minimum?
Can I combine multiple transfers to reach the minimum?
Yes. Transfers you make within your 30-day window are added together, so you can bring over several accounts — say a TFSA and an RRSP — to reach the $25,000 minimum.
Does the bonus stack with other offers?
Does the bonus stack with other offers?
Yes. The transfer match stacks with the $25 welcome bonus, so new clients can earn both on the same transfer.
Is there a maximum bonus?
Is there a maximum bonus?
Yes. The match is capped at $20,000, which you'd reach by transferring $2,000,000 at the 1% rate. There's no limit on how much you can transfer — only on the bonus amount.
Can I withdraw my money after transferring?
Can I withdraw my money after transferring?
Yes — your money stays yours and you can withdraw it anytime. To keep your full match, you'll want to maintain the transferred amount during the payout period; you can withdraw up to a 20% buffer without affecting it. Withdraw more and your remaining payments are reduced proportionally.
What happens if I withdraw more than the buffer allows?
What happens if I withdraw more than the buffer allows?
If you withdraw more than the 20% buffer during the 24-month payout period, your remaining monthly payments are reduced in proportion to what you took out. Your money is always accessible — this only affects the portion of the bonus you haven't been paid yet.
How is the transfer match different from a flat cash bonus?
How is the transfer match different from a flat cash bonus?
A flat cash bonus pays the same amount no matter how much you move, while the match is a percentage of your transfer — 1% of what you bring over. So the more you transfer, the larger your bonus, up to $20,000.
Is the 1% transfer match worth it?
Is the 1% transfer match worth it?
That depends on how much you're transferring and how the offer compares to your current institution's. Because the match is a percentage of what you move — up to $20,000 — it tends to reward larger transfers more than a flat cash bonus. We can't say what's right for your situation, but the terms and conditions lay out exactly what you'd earn.
