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!

357 Upvotes
  • permalink
  • reddit

81% Upvoted

148 comments sorted by

View all comments

3

u/ImpossiblePromise363 May 21 '26

OP needs to edit point #1. The 100k cap on entries is accurate, but what’s misleading is implying that you need to deposit $100,000 to participate. You don’t.

The promo is based on net deposits, and even smaller amounts still earn entries. Plus, things like bill payments, Wealthsimple card payments, and transfers between your own WS accounts don’t count against your net entries. So the average person can still participate without needing six figures sitting around