$100 bonus for first direct deposit with Wealthsimple

Wealthsimple has launched a direct deposit bonus promotion.

Luckily, existing customers are eligible as well, as long as you haven’t set up direct deposit with them prior to July 29, 2024.

You can earn a $100 cash bonus when you direct deposit $2,000 or more into a Cash account within a 30-day period, for a total of 3 consecutive months.

Anyone who is eligible are automatically enrolled to the promotion.

Link to full promotion details

Who is eligible for this offer?

All new and existing Wealthsimple Cash clients who have never set up direct deposit prior to July 29, 2024.

How to qualify for the $100 bonus?

1. Set up your first direct deposit into your Wealthsimple Cash account.
2. Have a direct deposit of $2,000 or more land in your Cash account before Oct 1, 2024.
3. Continue to receive qualifying direct deposits for 3 consecutive months.

When will the bonus $100 kick in?

You can expect to receive $100 bonus by Oct 31, 2024.

However, you must continue to direct deposit for 3 consecutive months to avoid the $100 bonus being deducted from your Cash account.

Final Thoughts

I think it’s a pretty easy offer to take advantage of if you already have a Wealthsimple Cash account. (and you should have one as its one of the best travel prepaid cards out there)

However, for those who don’t travel much and have an archaic payroll system, it might be a bit too much work to open an account with them.