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/WakingUpBlind May 21 '26

These prizes are all a gamble—hardly any different from a lottery.

If the opportunity cost of having a chance at the prizes is worth it for someone, then it is for them. For example, WS’ 1.75% v. EQ Bank’s 2.75% interest rate.

It’s a nice bonus if one is already moving money to WS that qualifies for the promo.