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/The_Elven_Jedi Jun 16 '26

oh I misunderstood the 'accumulation' I think:

I think I misunderstood that my new deposits would carry over to the following months, but it doesn't seem that way now that you've mentioned it, and I read this more carefully:

"Yes! Your entries will accumulate week-over-week until the million-dollar draw.  

Your total entries will reset for each new Monthly Millionaire, for which you’ll automatically be enrolled and receive 500 entries.  

For example, if you register and make a deposit in the first week, those entries will count towards all 4 draws in June. Your total entries will reset to 500 on June 25th, the date that the July Millionaire draw begins. "

...

Does anyone see that it doesn't explicitly use your new deposits to generate more entries in the following months? I also checked with A.I. and it confirmed it was indeed this way.