Wealthsimple Referral Code Terms and Conditions: What You Need to Know
Referral programs are most useful when you understand exactly what's required. This page breaks down the Wealthsimple referral code rules in plain English , no legalese, no fine print surprises. If you're planning to use code DGN6-A, here's what you can expect.
Eligibility Requirements
To qualify for the $25 referral bonus, you must meet all of the following:
New clients only. The referral bonus is available exclusively to individuals who have never held a Wealthsimple account before. Existing users who open a second account, or who previously closed a Wealthsimple account, do not qualify.
Canadian residents. You must be a resident of Canada at the time of sign-up. The program is not available to non-residents or to individuals signing up from outside Canada.
Age of majority. You must have reached the age of majority in your province or territory (18 in most provinces; 19 in BC, Nova Scotia, New Brunswick, Newfoundland & Labrador, Northwest Territories, Nunavut, and Yukon).
Eligible account. You must open at least one qualifying account type. Wealthsimple Tax does not count.
Deposit Requirements
Minimum deposit: $100. The deposit must total at least $100 CAD to qualify for the bonus.
External source required. The deposit must originate from a bank account or financial institution outside of Wealthsimple. Transfers between Wealthsimple accounts do not satisfy the requirement.
Funding window: You have 30 days from the date the referral code is applied to make your qualifying deposit. Missing this window means the bonus is forfeited , though if your account remains unfunded, the code can be re-entered to reset the clock.
Bonus Payout
Amount: $25 for the new user (referee) and $25 for the person who shared the code (referrer).
Timing: The bonus is deposited to your Wealthsimple Cash account within 24 hours of the qualifying deposit being verified.
Destination: Cash account only. If you haven't opened a Cash account, you'll need to do so before the bonus can be credited.
Hold Period
The $25 bonus is subject to a 180-day hold period. During this time, the funds are visible in your account but cannot be withdrawn to an external bank account. You may, however, invest or use them within the Wealthsimple ecosystem during the hold period.
The 180-day clock starts from the date the bonus is credited to your account.
The Retroactive Code Window
For users who signed up without applying a code:
Unfunded accounts: The code can be entered at any time via the Rewards Hub. The 30-day deposit window begins upon code entry.
Funded accounts: A 7-day retroactive window applies from the date of your first qualifying deposit. After 7 days on a funded account, the code can no longer be applied.
Past Promotion: Referral Boost (Ended June 8, 2026)
Wealthsimple used to run a tiered "Referral Boost" promotion that paid larger bonuses , up to $5,075 , to users who deposited large sums. That program ended on June 8, 2026 and has been replaced by the flat $25 bonus (available via code DGN6-A) described above, which now applies to every qualifying referral regardless of deposit size.
The (Un)Real Deal Transfer Bonus
Separate from the referral program, Wealthsimple periodically offers a transfer bonus for clients who move $25,000 or more from another financial institution. This promotion , currently marketed as the (Un)Real Deal , offers a bonus of 1% to 3% of the transferred amount. This bonus is stackable with the standard referral bonus. So if you're transferring a large portfolio, you can claim both the $25 referral bonus and the transfer bonus simultaneously.
Tax Implications
Wealthsimple does not issue a T4A or any other tax slip for the referral bonus. This means the $25 will not automatically appear on a CRA slip.
However, whether the bonus constitutes taxable income under Canadian tax law is not entirely settled. The CRA's treatment of cash bonuses from financial institutions can depend on the nature of the relationship and how the bonus is characterized. If you're unsure how to treat this income, consult a qualified Canadian accountant or tax professional. This page does not constitute tax advice.
Summary: No Tricks, No Hidden Requirements
The Wealthsimple referral program is genuinely straightforward:
- Sign up as a new user
- Enter code DGN6-A (or sign up via the referral link)
- Deposit $100 from an external account within 30 days
- Wait up to 24 hours for your $25 to appear
- Leave it in your account for 180 days before withdrawing
That's the full picture.
Ready to claim your bonus? No tricks, no hidden requirements.
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