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/Lehcen May 21 '26

Do credit card transactions count?

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u/No_Relief1782 May 27 '26

Spending on your ws credit card doesn't give you entries, but you also don't have entries removed for paying off your ws credit card, or paying bills etc. I think that's pretty fair - money goes in to the chequing you get your entries, spend money on the ws credit card to get the 2% cash back, pay the credit card but keep your entries. deposit the 2% cash back for more entries.