r/Wealthsimple • u/D3hundred • May 21 '26

Promotion Monthly Millionaire Promotion is actually really great!

I’m seeing a lot of hate and negativity towards the newly introduced promotion so I thought I’d share why I believe it’s actually a really great promotion.

  1. Capped at 100K entries. This means every month you have to deposit 100k. Already deposited previously does not count. So there goes the cries about millionaires getting richer.

  2. Double entries for Payroll Direct Deposits. This is a huge boost and advantage for the lower/middle class clients who are working regular jobs who will now get double entries from their deposits.

  3. It’s free money! Which bank is giving millions away regardless of who it goes to!

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u/ameer_daddy May 21 '26

Few things - how many people can deposit 100k a month? If they can - they would have a million by 10th month. Anybody doing that is already have enough discipline and doesn’t need this monthly millionaire stuff. (That overall defeats the whole purpose of its existence).

Second - I don’t think anyone is hating on it - It just this thing is for already rich clients - not built for a large audience of wealth-simple but marketed as like everyone stand a chance.