A complete 2026 guide — who qualifies, what you both earn, and the exact steps from start to $25.
The Short Answer
An existing Wealthsimple client shares their personal referral code with you. You sign up, enter the code, and deposit $100 or more from an external bank within 30 days. Both of you receive $25 cash in your Wealthsimple chequing accounts within 24 hours of the deposit settling. That's it.
The current referral code is UHGWMQ. You can use it at signup via wealthsimple.com/invite/UHGWMQ or enter it manually in the app after signing up.
Step-by-Step: How It Works
1
Sign up using a referral codeGo to wealthsimple.com/invite/UHGWMQ — the code is pre-applied — or create an account at wealthsimple.com and enter UHGWMQ when prompted.
2
Open an eligible accountWealthsimple Trade (stocks & ETFs), Crypto, Managed Investing, or Chequing all qualify. You'll need a chequing account open regardless — that's where the bonus is paid.
3
Deposit $100+ from an external bankTransfer at least $100 from your bank or credit union to Wealthsimple within 30 days of entering the code. Internal Wealthsimple transfers do not count.
4
Both parties receive $25 within 24 hoursOnce your deposit settles, Wealthsimple deposits $25 into both your chequing account and the referrer's chequing account. You'll get a notification when it arrives.
What Both Parties Receive
The Wealthsimple referral program is a two-sided bonus: both the new client and the person who referred them each earn $25 cash via their Wealthsimple chequing account. The payment happens within 24 hours of the new client's first qualifying deposit settling.
There is no cap on the number of referrals. If you share your code with 10 people and all 10 sign up and deposit, you earn $250. Each person who uses your code can only be referred once.
Chequing account required: Both you and the person you refer must have an open Wealthsimple chequing account for the $25 to be paid. Opening one is free and takes about two minutes in the app.
Who Qualifies as a New Client
Situation
Eligible?
Never signed up for Wealthsimple before
Yes
Signed up but never made any deposit
Yes — enter code any time before first deposit
First deposit made within the last 7 days
Yes — enter code now in the app
First deposit made more than 7 days ago
No — window has closed
Existing funded Wealthsimple account
No
How to Enter a Code After Signing Up
If you've already created your Wealthsimple account but haven't deposited yet — or deposited within the last 7 days — you can still enter a code:
Open the Wealthsimple app
Tap the gift icon in the top-right corner of the Home screen
Tap Invite Friends, then Enter referral code
Type UHGWMQ and confirm
Requirements Checklist
Requirement
Details
New client only
Never previously funded a Wealthsimple account
Minimum deposit
$100 from an external bank or financial institution
Deposit window
Within 30 days of entering the referral code
Chequing account
Both parties must have one open (free, takes 2 minutes)
Transfer source
Must come from outside Wealthsimple — internal transfers don't count
Yes. The referral code works across Wealthsimple Trade, Crypto, Managed Investing, and Chequing. The new client's $100 deposit can go into any of these account types. Both parties just need an open chequing account to receive the $25.
What happens if my referral never deposits?
If the new client doesn't deposit $100 from an external bank within 30 days of entering your code, the referral relationship expires. Neither party receives the $25. The window cannot be extended.
Is there a limit to how many people I can refer?
No limit. You earn $25 for every person who successfully signs up and deposits using your code. Each unique person can only be referred once.
Can I refer someone and also use someone else's referral code myself?
If you're already an existing Wealthsimple client, you can refer new clients but cannot use someone else's code yourself — the $25 new client bonus is for first-time accounts only.
Does the $100 deposit have to stay in the account?
Wealthsimple doesn't require a minimum hold period for the $25 referral bonus specifically. However, if you're also claiming the 1% Transfer Match, that promotion has a 730-day hold requirement. The $25 referral bonus itself has no hold.