Wealthsimple 1% Transfer Match: The Rule That Locks Your Existing Balance (Up to $20,000)

JasonPosted October 13, 2026

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Wealthsimple is still running its 1% transfer match.

Move $25,000 or more in from another Canadian brokerage, and they'll match 1% of it, up to $20,000.

I've used Wealthsimple since 2020, and there's one rule in the fine print that most people miss.

At a glance

What	Details
Match	1% of what you transfer in
Minimum	$25,000 total (you can combine transfers)
Maximum	$20,000 (1% on up to $2,000,000)
Accounts	TFSA, RRSP, FHSA, non-registered, corporate, managed, crypto
Paid	24 monthly payments into Wealthsimple Chequing
Hold	730 days

Transfers you started before registering don't count.

Then start your transfers within 30 days.

They need to come from another Canadian investment institution.

Cash deposits, e-Transfers and moves between your own Wealthsimple accounts don't count.

Wealthsimple values each transfer the day it arrives, minus any transfer or FX fees.

The match doesn't land in one shot.

It's split into 24 monthly payments, paid into a Wealthsimple Chequing account.

So $50,000 transferred = $500, or about $20.83 a month for two years.

No chequing account?

Open one, or you start losing payments.

For 730 days, you can't take out more than 20% of what you transferred.

Fine, that one's on the main page.

But the full terms also lock the balance you already had at Wealthsimple when you registered 😅

So if you had $30,000 sitting there and move $50,000 in, that original $30,000 is stuck for two years too.

Go over the limit and don't top it back up before the next payment?

Every remaining payment gets cut down for good.

I'd read the full terms before registering, honestly.

A few things don't count against you:

Withdrawing profits, dividends or interest does count.

Wealthsimple covers one transfer-out fee per account.

The marketing page says up to $150 per account if you send proof.

The terms say it's for a single transfer of $25,000 or more, applied automatically.

I'd keep the fee statement either way, just in case.

For me, 1% on money you were going to move anyway is free money.

Just don't register unless you're OK leaving everything at Wealthsimple for two years, including what's already there.