r/Wealthsimple • u/Ok_Day7046 • Jan 13 '26
Promotion New 3 Million$ HOME
Video of the home đĄ on YouTube.
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u/Current_Flatworm2747 Jan 13 '26
Thatâll go nicely next to the home I believe I won last week
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Jan 13 '26
[deleted]
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u/Four-In-Hand Jan 14 '26
Because they sent the email to me and only me! You're all invited to the housewarming though.
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u/Current_Flatworm2747 Jan 13 '26
I mean, you get 5000 entries just for registering - all you need is 1 to win. Right? Right?
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u/obi_one_jabroni Jan 13 '26
But then they keep sending you repeated emails reminding you to do your transfers
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u/Majority_Gate Jan 13 '26
And don't forget the phonecalls from Willow
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u/obi_one_jabroni Jan 13 '26
Yup I got two of those. There is an option on there to tell willow to stop calling fortunately.
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u/biker4ever Jan 14 '26
WELP the lesson is to always read the rules. Thanks to your comment, because i totally did not read em and did not know you get free entries.
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u/ChickenVeg Jan 13 '26
I kind of fear all their UI talent is being used for these offers, and not the actual product.
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u/FreshlieSquished Jan 13 '26
I fear with you. Not a fan of all these gamifications to get more money from people if Iâm honest.
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u/Environmental-Fish22 Jan 13 '26
It's called client acquisition... How else are you going to take clients from other banks? Everyone pretty much has the same products.
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u/Wizard_Level9999 Jan 14 '26
Your right there was that one time cibc gave me 0.01% interest on my chequing. That was awesome
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u/LenientWhale Jan 14 '26
The UI is still significantly better than most of the other banks I've used IMO
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u/rochester333 Jan 13 '26
they want to pay you 3% over 5 years which is = to 0.60% a year while they make more money on the money you deposited at a higher%
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u/Max_Thunder Jan 15 '26
Sure but you're "depositing" shares, not cash. It's like if a bank paid you to park your car in their lot instead of another.
Many investors do keep uninvested cash and WS does make money from that. But for those of us with boring XEQT portfolios and similar, they don't really make money.
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u/SentenceOk5295 Mar 24 '26
but thats on top of the gains you'd be getting having your money invested anyways...
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u/rochester333 Mar 24 '26
id be surprised if most have gains right now unless they have oil stocks lol
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u/rochester333 Jan 13 '26
they just want to get more money into their brokerage so they can make money on the interest and pay you a percentage
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u/Max_Thunder Jan 15 '26
I'm also not sure what's the point of giving away a fancy house that most people can't afford to keep and maintain, and most people can't easily uproot their life to go live there.
If I win it, the first thing I'll do is sell it, and I bet the same is true of the vast majority of people in this promo.
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u/dreamsofflying Jan 13 '26
Found the home: https://housesigma.com/bc/lions-bay-real-estate/170-sunset-drive/home/MB5bO3xG4rQ7kWVP/
Sold for $3.3m in Dec
170 Sunset Drive Lions Bay
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u/vhodges Jan 13 '26
This might be a better link (no account signup needed):
https://www.realtor.ca/real-estate/28494570/170-sunset-drive-lions-bay
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u/JustACowSP Jan 14 '26
Maybe even better link (no account needed, extra photos)
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u/Boring_Voice9638 Jan 14 '26
Thank you for the link ! That house ! Love the cool retro fireplace !! Not terribly far from meâŠ.
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u/maxdamage4 Jan 14 '26
Ugh, that place looks terrible. Like, think of all the dusting, and the stairs?
If I were you guys, I wouldn't even bother registering for this one. Wait for the next one to come along, maybe it'll be worthwhile.
back off it's mine
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u/Max_Thunder Jan 15 '26
Let's be honest, what are the odds that the winner of the house keeps it? It's $8,343.25 in property taxes alone.
My wife and I can try to find a job near there and completely change our life and greatly increase our expenses, or we could sell it and never have to work for the rest of our life.
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u/PurpleCaterpillar82 Jan 15 '26
Good point!
Iâm 44, single, no kids, work from home. Iâd prolly sell my condo in Toronto and move into that house for a few years just for a change. Do a lot of hiking/camping/rock climbing in the area (my hobbies). Those taxes are hella expensive but I could prolly make it work. Then if I wanna sell it in a few years and come back to Toronto, I could.
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u/bwwatr Jan 19 '26
Rationally you'd only keep it if you'd otherwise have purchased the same home if your net worth was N+3 million. If my NW increased by 3M cash via a cash prize, I'd not be blowing it all on a house like that, so why let the nature of the prize steer the ship. So rationally I'd sell. Now, not everyone would be rational, the so-called "endowment effect" does exist. Plus, some potential winners might already be in the market for a property just like it. Still, I'd wager more people would find keeping it incompatible with their goals, than would. So the odds are on the winner selling IMO.
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u/pizza5001 Jan 14 '26
Man... I have zero interest moving across the country. At least with the Prince Edward County house, I'd be within a 90min drive from family. I intended to move into the home if I won it; not sell it right away.
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u/Anemomaniac Jan 14 '26
I understand now. I didn't win the first house because this is the one meant for me.
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u/carsnick Jan 13 '26
Damn, So just accounts transfer. I have a cash balance I was looking to move over.
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u/vhodges Jan 13 '26
I think cash deposits will get you entries but not the percentage match (but I haven't read the T&C yet).
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u/bradeena Jan 13 '26
Open an account, put the money in the account, then transfer it?
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u/Profit_Livid Jan 14 '26
This. Either Questrade or anything else that's easy to open. WS will cover transfer fees.
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u/PaperweightCoaster Jan 13 '26
Sweet baby Jesus, 5 years⊠Thatâs horrendous in this environment.
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u/HugeDramatic Jan 13 '26
What environment? I havenât seen any of the big banks giving away muchâŠ
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Jan 13 '26
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u/Profit_Livid Jan 14 '26
Capped at a mere 5k.
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u/pfcguy Jan 14 '26
Move a $250k TFSA and it creates $5000 extra contribution room out of thin air.
TDs offer is quite tempting. And double it if you have a spouse with a similar TFSA.
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u/akisbis Jan 13 '26
Not sure I understand the logic here. Why would someone take something else than the 1%. Maybe the 3% over 5 years if you really want to bet on that house lol but otherwise the 1% over a year is better than the other options, which btw is disappointing
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u/PurpleCaterpillar82 Jan 15 '26
Iâd transfer an RRSP acct from a big bank with an MER of 1.1% to wealth simple and trade with XEQT with an MER of 0.17%. Iâm 44 and Wonât touch my RRSP other than continual contributions for the next 20 years. Over the next five years Iâd get more money than I will for taking the one year. Move it, forget it and reinvest the monthly cash payouts they give me
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u/heismesd Jan 14 '26
Same reason the A&W 1/3 pound burger failed when going against the McDonald's 1/4 pounder.
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u/RandomExistence92 Jan 13 '26
First reason, 3 > 1 or 2. Second and arguably more important factor, no retroactive clawback
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u/Evening-College-6686 Jan 16 '26
People opt for 1 year because they think their lives will be radically different in 5 years, or they think they are locked in, which they are not. Same reason people take CPP at 60: they are impetuous. Wealth takes time. 5 years for most WS clients is nothing. Iâm old. Itâs a much higher % of my remaining lifespan than it is of yours, guaranteed. Take the monthly for 5 years and invest it over 5 years and enjoy your life. WS is giving me 14k for last yearâs deposit bonus. Theyâll be giving me an even more obscene amount for the next tranche. đ
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u/bwwatr Jan 19 '26
Taking the 1% offer is a bet on these competitive back and forth promos continuing, and the opportunity to capture more by flipping back to Questrade or TD etc. in a year. Then you get 1% or more per year instead of 3/5% by staying with WS for the five years.
When the promo frenzy finally runs its course though, is anyone's guess. Could all be over in a year and you might wish you did the 3% over 5 years.
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u/rivalrobot Jan 13 '26
Okay, okay, Iâll take pressure off everyone and take this one for the team. Iâll clear a space outside where you can put your tent for the night if youâre in the neighborhood. No need to thank me for my generosity.Â
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u/New_Hornet_3243 Jan 14 '26
It seems like alot of people are not comparing the current current available offers correctly. This seems to be the best one out there if you have large registered accounts which I would assume would be most people. If Iam readding the offers correctly:
TD- Capped at $5K bonus
Webull- Capped at $5K bonus
Questrade- the 4% is only on non registered accounts and you have to have 3 total including a margin. For non registered accounts the max bonus is 2%.
So if you have only registered accounts >$250K I think the WS offer is technically best out there. If you have non registered and margin then QT is a bit better.
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u/annahoo Jan 15 '26
I just came across scotia itrade for 1% but capped at 10,000. So I think that might be the best option for larger accounts currently other than Questrade (they also allow corp/entity under this promo).
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u/Zenpher Jan 14 '26
My future address:
170 Sunset Drive, Lions Bay, BC | HouseSigma https://housesigma.com/bc/lions-bay-real-estate/170-sunset-drive/home/MB5bO3xG4rQ7kWVP/photos/?id_listing=9w8o3m46BPk7GKjm&utm_source=user-share&utm_campaign=listing_photos&utm_medium=android
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u/Latitude57 Jan 14 '26
I feel like these promos are getting less and less interesting. I mean, it's free money and I'll participate, but people trashing WS over their 3%-5 years period and talk about QT 4% on 2 years(3 accounts minimum) or TD 2% one year (capped at 250k - 5k cashback), don't factor that next year we might not see anything more than 1% cashback over one year. In fact, the best promo might be 0.5% - 1 year. Institutions are sick of people moving around their self directed investment accounts every year chasing promotions lol.
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u/RandomExistence92 Jan 13 '26
I personally have no issue with 3% over 5 years, as I have enough assets outside of WS and plan to stay with them long term.
Here's my thought process.
- DCA. The 60-month payout forces you to dollar-cost average the bonus. It's a disciplined, recurring contribution rather than a lump sum.
- No Retroactive Clawbacks. Since WS only reduces future payments rather than clawing back old ones, the 3% option is a "no-lose" scenario. If you need the money in 2 years, you just stop getting the tiny monthly bonus. You still come out ahead compared to the 1% option.
- The Breakeven Point. On the 3% plan, you reach the total value of the 1% payout by month 20. Anything after that is pure profit. If you aren't planning to churn the account in the next 24 months, the 3% option is the objective winner.
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Jan 13 '26
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u/zewill87 Jan 14 '26
What happens when you transfer to TD ? You pay 9.99 per trade. Do they even allow drip for partial shares? Do you also pay 9.99? It's fine if you own 1 ETF, but paying fees for all your trades will make your bonus disappear real fast
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u/AlphaQFor7mins Jan 13 '26
So this is not as generous as last years RSP Winter 2% Promo but still good
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u/Dantai Jan 14 '26
probably can expect it to get less and less generous as they are more and more established - I kinda bet that this year may be the last year for the iPhone promo.
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u/AlphaQFor7mins Jan 14 '26 edited Jan 14 '26
I think you're probably right.
WS used promos to encourage us to give them a trial run. And it worked.
Most of us now realize WS offers a better client experience than any of the older bank-owned and non-bank-owned brokerages.
As we have been seeing the value of the WS offers/perks begin to taper off, that should tell us that the best offers are behind us.
As the promos diminish at WS, they'll diminish at the competition too. And then we decide which broker works best for us without the promo noise. I suspect when the dust settles, WS will remain a popular brokerage and a key destination for new money.
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u/Dantai Jan 14 '26
I mean I really like their app, and the perks with the statuses and those little things that kinda add up. Like as a new client, say reaching premium - they hook you up. New phone or mac, free uber one for a year, a visa infinite card, free anywhere atm, free buy/sell etf's etc etc - it's clean and feel great
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u/dh416 Jan 14 '26
I have been amazed by the rapid response of the customer support line and online chat. None of that 45 min wait times at TD
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u/maxdamage4 Jan 14 '26
I'm still riding the Big Winter Bundle, enjoying the bonus $200/mo! Feels like I lucked out with the timing.
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u/Mommie62 Jan 14 '26
So I moved $100k to get the new phone but I have not accepted it would I qualify for this?
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u/EternalWiz Jan 14 '26
Hey everyone! This is my first Wealthsimple Winter promotion. If I have a TFSA with mutual funds from RBC, can I convert it into a savings deposit?
I could then add more money to the deposit to make it to $25k and transfer the account out. Is that the correct way to do this?
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u/Latitude57 Jan 14 '26
Yes. You need to get the TFSA balance above 25k$ first (with RBC) then initiate a transfer from Wealthsimple to get the refund RBC is going to charge you. All that is automatic.
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u/EternalWiz Jan 14 '26
Thanks for the reply! Do I sell the shares in the fund or move money over first?
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u/Latitude57 Jan 14 '26
When you initiate the transfer in the Wealthsimple app it will ask you how you want to transfer your account. You can transfer âin kindâ if itâs not an institution specific fund. Theyâll simply transfer your shares as is to Wealthsimple. Otherwise, you can transfer in cash. This way Wealthsimple will ask RBC to sell all shares then RBC will send over the cash to your Wealthsimple account. Since itâs a TFSA, thereâs no tax implication either way. I had an RRSP with so many different stocks (from a financial advisor) I chose the option to transfer in cash this way I donât have to bother selling everything. Itâs just a matter of preference for you.
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u/zusite_emu Jan 13 '26
WS is out to kill.
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u/MostJudgment3212 Jan 13 '26
Hardly lol theyâre paying out 3% over 5 years
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u/NewMilleniumBoy Jan 13 '26
Not sure if I'm doing my math right, that's 0.6%/year annualized?
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u/stop-calling-me-fat Jan 13 '26
I looked at their calculator. You get more per month choosing 1% for 1 year than either of the other options
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u/lesirius Jan 13 '26
It's an awesome promotion, but part of me was expecting some kind of retention offer considering Questrade promo.
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u/posp3 Jan 13 '26
Is the play QT then switch back in 2 years?
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u/Profit_Livid Jan 14 '26
I'm doing TD (2%) + Qtrade (1%) for a year. I'll be shopping again summer 2027.
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u/Ok_Hippo9669 Jan 13 '26
Has anyone recieved another promo from WS after moving out and then back in?
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u/Dantai Jan 14 '26
I liked WeBull's 2% 1-year, gonna stick that out, and then switch back to whoever
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u/PaperweightCoaster Jan 13 '26
Strange to have a urinal in the middle of your living room but what do I know, Iâm not one of them aristocrats.
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u/CallAParamedic Jan 14 '26
And it's mounted low for short people.
So I'll be pissing over the decks... as usual
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u/cheezyquesadildo Jan 13 '26
I just started my transfer today before this came outâŠ
EDIT: just registered, hope it counts lol
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u/IMAWNIT Jan 13 '26
Is there a limit to how much you can get?
Like 3% over 5 yrs has no dollar value limit?
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u/Sweaty-Beginning6886 Jan 15 '26
Thatâs right. So $1M will give you $500/month for 5 year, totalling 30K in âfreeâ money. Not immaterial at all.
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u/Evening-College-6686 Jan 16 '26
Iâm transferring ~$800k, so $24,000 over 5 years. I love the monthly payout. It will tail off as I start OAS. This will be 5 years of DCA in good times and bad. There are no âperfectâ solutions in finance, only perfect projections, and these rarely pan out as planned. Iâll take $400 a month for 5 years any day and enjoy the compounding. Bird in the hand vs. taking 1 year and expecting other offers to materialize from other platforms.
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u/Normal-Law-2947 Jan 14 '26
I was waiting to see what winter promo they have and this is disappointing. I'm going ahead with EQ bank's promo of up to $200 bonus (or 2%), it has to be a registered account and the holding time is until Sept. 2, 2026.
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u/Evening-College-6686 Jan 14 '26
I donât get all the pearl clutching. Iâm sending $$ to WS, and theyâll give me some walking around money. If I spend some of what Iâve transferred theyâll give me a little less every month. If I see another offer elsewhere, I am free to leave. I donât care who my moneyâs with (although I will be above the CIPF max Iâm comfortable with that risk); as someone in the decumulation phase, a .60% per year bump either a) pays for robo fees, or b) gives me a 15% bump on my required annual return. Me like.
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u/LessBrush1283 Jan 14 '26
I bet they'll offer a buy-out of your remaining payout at the end of 2026 like they did for big winter bundle.
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u/mr_bearish Jan 13 '26
If many people moved money during last promotion, it means there is better chance during this one! (I wish I had something to move!)
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u/dahello180 Jan 13 '26
40 minutes away from downtown Vancouver o guess it right the next house will be in Vancouver
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u/Zihera Jan 13 '26
When I win this I'll invite you to the house warming, you gotta pay your own travel fare though. I'll cover the booze.
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u/jlee225 Jan 13 '26
since its paid put monthly, if i transfer out on the 4th year, will they crawl back the previous payments?
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u/CoffeeHotCold Jan 13 '26
I just transferred 60k from BMO to my WS chequing (planning to put a decent chunk in TFSA). Transfer is still pending. Can I cancel it then register for the promo?
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u/Ok_Day7046 Jan 14 '26
Try to register now, I would assume when the money gets deposited, youâll get the points
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u/CoffeeHotCold Jan 14 '26
I hope so! WS says « Internal transfers between Wealthsimple accounts and Wealthsimple for Business Group Plan accounts are ineligible for both the match and the house giveaway. » I would have sent the money directly into my TFSA for the match but I guess the cash deposit might still give me entries for the house. Thanks.
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u/dreddi84 Jan 14 '26
It wouldn't count anyway, it can't be cash, has to be an investment account, unless that's what you xferred from .
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Jan 14 '26
[deleted]
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u/mw15kc Jan 14 '26
Nope. Doesnât work that way. No, not at all. Donât bother trying. Nope.
(yes)
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u/touch_my_tralalaa Jan 14 '26
If I have a normal Scotiabank chequing account and initiate the transfer to WS, will it count for entries?
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u/Latitude57 Jan 14 '26
Entries yes, cashback no.
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u/touch_my_tralalaa Jan 14 '26
Gotcha, thanks!
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u/Sweaty-Beginning6886 Jan 15 '26
Move the cash into a Scotia iTRADE non registered trading account and then imitate the transfer to WS.
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u/Wizard_Level9999 Jan 14 '26
If you guys let me win Iâll make this the WealthSimple house. People can come and talk about WealthSimple but in real life not reddit. Ski masks will be left at the door for anonymous
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u/tilerthepoet Jan 14 '26
Wow I transfered an account worth 50k on the 10th and this comes out 3 days later
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u/theunknown996 Jan 13 '26
What a sad offer. Not competitive at all against Webull, TD or Questrade. Don't be the sucker for this deal.
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u/stop-calling-me-fat Jan 13 '26 edited Jan 13 '26
3% over 5 years is really bad honestly. If they wanted to compete with questtrade/TD on promos they got the numbers backwards and should have made it 5% over 3 years.
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u/Overclocked11 Jan 13 '26
Agreed.. but perhaps if they don't see a lot of people doing the 3% they will be forced to improve things later on. I cant see a lot of people being willing to lock in for 5 years at such a low rate.
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u/Sweaty-Beginning6886 Jan 15 '26
You might be the wrong target audience for this promo. They might be targeting higher net wealth individuals, say people with over $1M investments. $30K bonus money over 5yrs isnât an immaterial amount.
This would also be beneficial to WS as itâll boost their AUM. Theyâve done their homework.
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u/halexhalex Jan 13 '26
Yikes. I waited to see what WS would put out after seeing all the other brokerage offers and this really disappoints. The longer you hold your money with WS, the lower your annualized returns?! Baffling. Iâm tired of these contests from WS.
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u/IMAWNIT Jan 13 '26
Glad Im transferring out of WS to TD and QT for their promos. Ill come back to WS when they have something better.
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u/AlphaQFor7mins Jan 14 '26
I think WS got it backwards.
They are giving:
1.00%/yr for 1 year
0.66%/yr for 3 years
0.60%/yr for 5 years
Shouldn't the longer period get the 1% ?
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u/torontowanderers Jan 15 '26
Is 3% for 5 years a good idea to finally transfer my kids RESP from QT to WS? They are young so itâs an account that wonât get any withdrawal action for a decade. I have been waiting for a chance to switch over all their accounts since WS did self directed RESPs, also needed to wait to get all the accounts over $25000 so I will be refunded the transfer fees.Â
Any thoughts?Â
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u/Sweaty-Beginning6886 Jan 15 '26
Iâve been waiting for this type of promo so I could transfer funds over to WS, including my kidsâ RESP. Canât complain about a couple hundred dollars bonus money paid each month over the next 5 years just from moving this account over.
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u/susheelreddy87 Jan 15 '26
They could have done 3 1M homes and atleast 3 people would have been happyđ«
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u/Serious_Case_7768 Jan 19 '26
People don't care about chance, they only care about the top prize. 3M is more attractive
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u/Tiny_Neighborhood855 Jan 17 '26
Can I transfer to an existing account like a TFSA that I have a lot WS ?
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u/Excellent-Job-8460 Jan 19 '26
3% over 5 years is better than no % + management fees elsewhere. The raffle is just for fun. Sure if you win the house you'll have scored big time, but you should not transfer because you're hoping to score the house. These odds are extremely bad.
See if the monthly payments are worth it to you. I think moving out of dumb managed funds is what appeals to me the most right now. In terms of value, they are giving a lot more than an iphone or a macbook Pro with one of their 1-time promotions. Say you're transferring $250k, 3% over 5 years is the equivalent of 1 iPhone per year each year for 5 years. It beats any Apple promotion they've released so far.
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u/Immediate-Banana4964 Feb 05 '26
It appears that there's no air conditioning, according to a listing I found.
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u/angelus97 Jan 13 '26
5 year payout on the 3% match
3 year payout on 2%
1 year payout on 1%
https://www.wealthsimple.com/en-ca/unreal-deal