How do I get free money on Wealthsimple?

There are four ways to get free money on Wealthsimple in 2026: (1) Use referral code UHGWMQ when signing up as a new client and deposit $100 or more — you get $25 cash. (2) Transfer $25,000 or more from another institution and earn a 1% cash match paid over 24 months. (3) Enter the Monthly Millionaire draw for a chance to win $1,000,000. (4) Set up payroll direct deposit to your Wealthsimple account — targeted clients can earn a bonus.

How do I get the Wealthsimple sign-on bonus?

The Wealthsimple sign-on (sign-up) bonus is $25 cash. To get it: sign up for a new Wealthsimple account using referral code UHGWMQ (or via the link wealthsimple.com/invite/UHGWMQ), then deposit at least $100 from an external bank account within 30 days. The $25 is deposited to your Wealthsimple chequing account within 24 hours of your deposit settling. You must be a new Wealthsimple client who has never previously funded an account.

Can I get the Wealthsimple joining bonus if I already have an account?

Not the $25 referral bonus — that's for new clients only. If you already have a Wealthsimple account, you can still get free money via the 1% Transfer Match (bring $25,000+ from another institution) or the Payroll Deposit Bonus if it's been offered to your account. Check the Rewards Centre in your Wealthsimple app.

Is the Wealthsimple $25 bonus real?

Yes. The Wealthsimple $25 referral bonus is a real cash payment deposited into your Wealthsimple chequing account. It's not a credit, not a voucher — it's actual cash you can withdraw or invest. The only requirements are using a valid referral code (like UHGWMQ) and depositing $100 or more from an external bank within 30 days.

How to Get Free Money on Wealthsimple — 4 Legitimate Ways (2026)

Four ways to get actual cash from Wealthsimple in 2026, ranked from easiest to biggest.

Fastest way: Use code UHGWMQ, deposit $100 from your bank, and get $25 cash in under a week. No catch, no minimum hold period for the referral bonus.

Method 1: Referral Code — $25 Cash (Easiest)

Who it's for: New Wealthsimple clients who have never previously funded an account.
How much: $25 cash
Time to receive: Within 24 hours of your first deposit settling (typically 3–6 business days total)

The Wealthsimple referral bonus is the quickest way to get free money: sign up using code UHGWMQ, deposit $100 from your bank, and $25 lands in your Wealthsimple chequing account automatically.

Sign up via the referral link Go to wealthsimple.com/invite/UHGWMQ — code UHGWMQ is pre-applied.

Open a Wealthsimple chequing account This is where the $25 is paid. It's free and takes about two minutes.

Deposit $100+ from your external bank Internal transfers don't count — it must come from outside Wealthsimple.

Done — $25 arrives automatically Within 24 hours of your deposit settling. You'll get a push notification when it arrives.

UHGWMQ

Verified working — July 2026

Method 2: 1% Transfer Match — Up to $20,000

Who it's for: Anyone (new or existing client) transferring $25,000+ from another institution.
How much: 1% of transferred amount (up to $2M), paid over 24 months
Example: Transfer $100,000 → earn $1,000 cash over 2 years

If you have investments, savings, or a retirement account at another Canadian institution, transferring it to Wealthsimple earns you a cash match. The money is paid monthly over 24 months — so a $100,000 transfer pays roughly $41.67/month for 2 years.

Active Traders (50+ trades per month) qualify for the 3% rate instead of 1%, tripling the payout. Wealthsimple also reimburses the transfer-out fee from your old institution, up to $150.

Catch: The transferred funds must stay in Wealthsimple for 730 days (2 years). Withdrawing early forfeits remaining monthly payments. This is a long-term commitment.

Method 3: Monthly Millionaire Draw — $1,000,000 Prize

Who it's for: Clients who transfer assets to Wealthsimple.
How much: $1,000,000 to one winner per month
Odds: Up to 100,000 entries per draw (more entries = more transfers)

Wealthsimple runs a monthly prize draw for $1,000,000. Entries are automatically awarded when you transfer eligible assets to Wealthsimple. This stacks with the 1% Transfer Match — your same transfer earns both monthly match payments and draw entries.

To register for the draw and see your entries: tap the gift icon in the Wealthsimple app → Rewards Centre → Monthly Millionaire.

Method 4: Payroll Deposit Bonus (Targeted)

Who it's for: Existing clients who receive a targeted offer in their app.
How much: Varies by offer
How to check: Gift icon → Rewards Centre in the Wealthsimple app

Wealthsimple periodically offers cash bonuses to clients who set up direct deposit (payroll) to their Wealthsimple chequing account. Not every account is eligible — it's a targeted promotion. If you have this offer, you'll see it in the Rewards Centre.

The typical requirement is to register for the promotion and then receive at least one qualifying payroll deposit within a set time window. If your employer uses direct deposit and you bank with Wealthsimple, this is easy money if the offer is available to you.

What About Referring Friends?

If you're already a Wealthsimple client, you earn $25 for every person you refer who signs up and deposits $100. There's no cap — 10 successful referrals = $250. Share your personal code (found in the app via gift icon → Invite Friends) or direct people to a site like this one that shares active codes.

Free Money Summary

Method	Amount	Who Qualifies	Effort
Referral code UHGWMQ	$25	New clients only	Low — deposit $100
1% Transfer Match	$250–$20,000+	New or existing	Medium — transfer $25,000+
Monthly Millionaire	$1,000,000 (1 winner)	New or existing	Low — register + transfer
Payroll bonus	Varies	Targeted existing clients	Low — set up direct deposit

Frequently Asked Questions

Is the Wealthsimple $25 bonus actually free? What's the catch?

The $25 referral bonus is real cash with no hidden fees or minimums beyond the initial $100 deposit. There's no minimum hold period on the $25 itself — once it's in your account you can withdraw it or keep it invested. The $100 you deposited is also yours to keep or withdraw at any time. The only real "catch" is that the bonus is for new clients only (never previously funded an account).

Can I get the Wealthsimple joining bonus and the 1% Match at the same time?

Yes — if you're a new client. Sign up with code UHGWMQ (locks in the $25 referral bonus), then enroll in the 1% Match promotion before initiating a $25,000+ transfer. Both bonuses apply to the same account. See our bonus stacking guide for the exact order.

Do I have to be a Canadian resident to get these bonuses?

Yes. Wealthsimple operates in Canada only. You must be a Canadian resident 18 or older to open an account and claim any of these bonuses.

Are Wealthsimple bonuses taxable income?

Generally yes — cash bonuses deposited to a non-registered (chequing) account are considered taxable income in Canada. The $25 referral bonus is small enough that it's rarely significant, but the 1% Match on large transfers could be meaningful. Consult a tax advisor for your specific situation.

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