If you've tried entering code UHGWMQ and something isn't working, you're not alone. There are six specific reasons this happens, and most of them have a straightforward fix. Work through this list before contacting support.

1 You Already Have a Previously Funded Wealthsimple Account

The $25 bonus is for brand-new clients only. "New" means you have never previously deposited money into any Wealthsimple account. If you opened an account years ago and deposited even once, you are not eligible — regardless of whether the account is still active.

Fix: Unfortunately there is no workaround for this. However, existing clients are still eligible for Wealthsimple's 1% Transfer Match if they bring $25,000+ from another institution.

2 Your First Deposit Was Made More Than 7 Days Ago

Wealthsimple allows you to enter a referral code retroactively — but only within 7 days of your first deposit. If you funded your account more than 7 days ago, the retroactive window has closed and the code cannot be applied.

Fix: If you're within 7 days, open the app → gift icon → Invite Friends → Enter referral code → type UHGWMQ now. If it's been longer than 7 days, the window is closed and cannot be extended.

3 You Don't Have a Wealthsimple Chequing Account Open

As of 2025, Wealthsimple requires both the new client and the referrer to have an open Wealthsimple chequing account before the $25 can be paid. The bonus is deposited there — if the account doesn't exist, the payment can't go through.

Fix: Open a Wealthsimple chequing account in the app. It's free, has no minimum balance, and takes about two minutes. Once it's open, your pending bonus should process within 24 hours of your deposit settling.

4 The $100 Came From Inside Wealthsimple

Internal transfers between your own Wealthsimple accounts do not count as a qualifying deposit. The $100 must come from an external bank or financial institution — your personal bank, a credit union, or another brokerage.

Fix: Initiate a new $100 transfer directly from your external bank account to Wealthsimple. This is the transfer that triggers the bonus — not moving money between your Wealthsimple accounts.

5 You Haven't Waited Long Enough

The $25 arrives within 24 hours of your deposit settling — not 24 hours after you initiate the transfer. Bank-to-bank transfers typically take 2-5 business days to settle, depending on your bank. If your transfer is still processing, the bonus timer hasn't started yet.

Fix: Check your Wealthsimple account to confirm the transfer has settled (status shows as "Complete" rather than "Pending"). Once it's settled, allow up to 24 more hours for the $25 to arrive.

6 None of the Above — Contact Wealthsimple Support

If you've confirmed all five points above and still haven't received your bonus, contact Wealthsimple support directly. Have your referral code, deposit date, and account details ready.

Fix: Go to wealthsimple.com/contact. Support can review your account and manually apply the bonus if it was incorrectly missed.

UHGWMQ

Verified working — July 2026

Frequently Asked Questions

Can I re-enter a referral code after it stopped working?
Only if you haven't yet funded your account, or if your first deposit was within the last 7 days. If you're within either of those windows, go to gift icon → Invite Friends → Enter referral code and try again. After 7 days from first deposit, the code cannot be added or changed.
What if I entered the wrong referral code?
If no bonus has been paid yet and more than 30 days have passed since entering the wrong code, you may be able to enter a correct code. If a bonus was already paid as a result of the existing referral relationship, it cannot be changed. Contact Wealthsimple support to assess your specific situation.
How do I know if the code was accepted?
When you enter a referral code in the app, Wealthsimple shows a confirmation message indicating the code was applied. If you don't see this confirmation, the code was not accepted — try entering it again or contact support.
My bonus arrived for me but not for the person who referred me — what happened?
The most common cause is that the referrer doesn't have an open Wealthsimple chequing account. Both parties need one. Ask them to open a chequing account in the app and then contact Wealthsimple support to have the payment reprocessed.

Independent site. Not affiliated with Wealthsimple Inc. → Back to all articles