Wealthsimple Referral Code for Students: Start Investing, Get a $25 Bonus
If you're a Canadian student and you've been putting off investing because you don't think you have enough money to get started , this page is for you.
Wealthsimple has no account minimums and no monthly fees. And with referral code DGN6-A, a deposit of just $100 earns you a $25 cash bonus. That's a 25% return before you've even picked an investment.
Why Wealthsimple Makes Sense for Students
Most traditional banks require minimum balances, charge trading commissions, and make opening an investment account feel more complicated than it needs to be. Wealthsimple was built around the opposite philosophy.
Here's what makes it a natural fit for students:
- No minimum deposit to open an account
- $0 trading commissions on stocks and ETFs
- No monthly fees on the Cash account
- $100 minimum deposit to qualify for the referral bonus
- The entire sign-up process takes about 10 minutes on your phone
The $25 Bonus: What It Means for a Student
A $25 bonus on a $100 deposit is, plainly put, a strong return on a modest commitment. Here's what you need to do:
Sign up at wealthsimple.com/invite/DGN6-A (the code is pre-loaded)
Open any eligible account , a TFSA or Cash account are the most popular choices for students
Deposit $100 or more from your bank account within 30 days
Receive $25 in your Wealthsimple Cash account within 24 hours
The only catch: the $25 has a 180-day hold period before you can withdraw it to your bank. If you're planning to keep the account open and invest , which is the whole point , this won't affect you at all.
Why a TFSA Is the Best Starting Point for Most Students
A Tax-Free Savings Account (TFSA) is almost always the right first account for a Canadian student or young adult. Here's why:
Tax-free growth. Any interest, dividends, or capital gains you earn inside the TFSA are completely sheltered from tax. You don't report them. You don't pay on them. Ever (as long as the money stays in the account or is withdrawn according to TFSA rules).
Flexible withdrawals. Unlike an RRSP, you can withdraw from a TFSA at any time without tax consequences. And unlike a bank savings account, your contribution room is restored the following January when you withdraw.
Low starting point. You don't need thousands to open a TFSA with Wealthsimple , there's no account minimum beyond the $100 deposit needed to qualify for the referral bonus.
Contribution room accumulates from age 18. If you're 20 and haven't opened a TFSA before, you already have three years of unused room (the exact amount depends on the annual limit set by the CRA). That's a meaningful head start.
The Wealthsimple Cash Account: A Better Student Bank Account
Even if you're not ready to invest yet, the Wealthsimple Cash account is worth opening on its own merits:
- No monthly fees
- A competitive interest rate on your balance (earned daily, paid monthly)
- A Visa card included for purchases
- Instant transfers between your Cash and investing accounts
Many students use it as their primary everyday account, then move money into a TFSA or RRSP over time as their income grows. And because the $25 referral bonus is deposited directly to your Cash account, you'll want to have one open regardless.
Getting Started Is Genuinely Simple
You don't need to understand every investment product before you open an account. Wealthsimple's app is designed for people who are new to this. You can:
- Start with a Managed account (the app builds and maintains a portfolio for you)
- Or move to Self-directed investing when you're ready to choose your own ETFs or stocks
Neither option requires prior investing knowledge to get started.
Start investing. Get a $25 bonus with a $100 deposit. No fees, no minimums.
Get $25 with Code DGN6-AThis site contains referral links. We may earn a bonus if you sign up using our code.