A Chance to Win $1 Million, Plus Canadian Bank Bonuses
October's Wealthsimple contest has one $1 million cash prize. Eligible new clients can also get a separate $25 referral bonus after $100 in qualifying funding. Simplii and Tangerine offer larger cash bonuses that require recurring deposits.
Wealthsimple Monthly Millionaire · October 2026
A chance to win
$1 million
One cash prize · October 29
Wealthsimple will draw one $1 million cash prize on October 29. Your chance depends on all eligible entries in the draw. Keep possible winnings out of your budget.
Entries close October 28 at 11:59 p.m. ET
- 8Weekly draw
- 15Weekly draw
- 22Weekly draw
- 29$1M draw
Referral bonus + October contest
Get $25. Plus a chance to win $1M.
For eligible new Canadian clients: sign up through a referral and add at least $100 in net external funding within 30 days.
Register for Monthly Millionaire separately. The app-entry route needs an eligible personal Chequing account currently or previously funded with at least $1. No-purchase entry is also available.
Disclosure: I can receive the $25 base reward and an additional deposit-based bonus if you qualify through my referral.
Get the $25 referral offerOffer details
You must be a Canadian resident of majority age, a qualifying new primary account holder, and have an active personal Chequing account in good standing for payment. The referrer must meet their funding requirements too.
Use code EHJW9W or my link before funding your new account. Eligible new clients must add at least $100 in net external funding within 30 days of establishing the referral. You can add a code within seven days of first funding. After that, contact support, who may not be able to apply it.
The base bonus arrives within 24 hours after qualifying funding is completed and processed.
The $25 bonus must stay at Wealthsimple for 180 days or it may be recovered. The hold applies to the bonus, not a 180-day hold on the $100 funding.
The 5,000 contest referral entries go to the referrer and require a pre-existing personal, family or friend relationship. Finding this page through search doesn't establish that relationship. Using this referral doesn't register you for the contest or guarantee referral entries.
Referral code: EHJW9W
Contest registration is separate from this referral offer.
Also in the weekly draws
Product prizesCarry On PlusMejuri
Spheres NecklaceMatty Matheson
Cookbook
How to enter through the app
Check your eligibility
You must be a legal Canadian resident of majority age. Quebec residents can enter. Staff, promoter and household exclusions apply.
Register for Monthly Millionaire
Register for Monthly Millionaire in the Rewards Centre. An eligible personal Chequing account currently or previously funded with at least $1 gives you 500 initial entries. If you successfully registered and qualified in a prior month, you're automatically enrolled unless you opted out. Your Wealthsimple accounts must be in good standing.
Check the draws in your app
Check the app on the draw dates. Winners must complete a skill-testing question and meet the claim requirements. The $1 million prize must be claimed within 30 days after the reveal date.
No purchase is necessary. You can enter through the essay route without opening or funding a Chequing account. Using a referral link doesn't register you.
Three cash offers
Do you need to move your paycheque?
Offer details reviewed October 2, 2026
The $25 offer needs $100 in qualifying outside funding. Simplii and Tangerine require recurring deposits, with different amounts and deadlines.
Wealthsimple
$25
Conditional cash bonus
Add money from outside Wealthsimple
Doesn't require payroll
Simplii
$350
Conditional cash bonus
Receive eligible pay, pension or benefit deposits
Requires recurring eligible deposits
Tangerine
$250
Conditional cash bonus
Move your full eligible pay deposit
Requires recurring eligible deposits
These accounts have no monthly fee or minimum balance. Some transactions and optional services cost extra.
Wealthsimple: deposits and payout
Official offer termsStep 1: Sign up with the referral
Step 2: Fund $100 net within 30 days
Step 3: Get $25 after funding is processed
- Required funding or deposits
- $100 in qualifying external net funding. The $100 goes into your own account.
- Payment timing
- Add the qualifying funds within 30 days of establishing the referral. The $25 arrives within 24 hours after qualifying funding is completed and processed.
Eligibility, deadline, fees and when to skip
- Who can qualify
- New Canadian client, age of majority, primary account owner. The referrer must also meet the qualifying funding requirements. An active personal Chequing account in good standing is needed for payment.
- Opening deadline
- The standard referral terms don't give a fixed end date.
- Account fees
- No monthly Chequing account fee or minimum balance. Investing, trades and optional services can have separate costs.
- Bonus restrictions
- Keep the $25 bonus at Wealthsimple for 180 days or it may be recovered. That hold applies to the bonus, not a requirement to hold the $100 funding for 180 days.
An existing Wealthsimple account may make you ineligible. Skip the offer if you need to spend the bonus immediately or wouldn't use the new account.
Simplii: deposits and payout
Official offer termsStep 1: Open a qualifying new account
Step 2: Eligible direct deposits: $100+ monthly for 4 consecutive months
Step 3: Get $350 after the required deposits
- Required funding or deposits
- At least $100 per month in eligible recurring direct deposits for four consecutive months. All four months must fit within 150 days of opening.
- Payment timing
- Payroll, pension and qualifying government deposits can count. Transfers and e-transfers don't. The $350 is paid within three business days after you meet all requirements. Keep the account active and in good standing.
Eligibility, deadline, fees and when to skip
- Who can qualify
- Canadian resident of provincial age of majority, outside Quebec. If you held any Simplii product as primary holder on or before March 23, 2026, the legal terms exclude you. If you became a client later, ask Simplii whether you qualify. Its FAQ describes new clients more narrowly.
- Opening deadline
- Open during the October 1, 2026 to January 31, 2027 offer, which ends at 11:59 p.m. ET.
- Account fees
- $0 monthly account fee and no minimum balance. Optional services and some transactions have fees.
- Bonus restrictions
- The offer doesn't give a fixed balance hold or a set period to keep the account after payment. Simplii can revoke the offer for ineligibility or abuse. Check with the bank before closing the account.
Skip this if you're in Quebec or can't arrange four qualifying deposit months within 150 days. You don't have to move your full paycheque under these terms. Confirm that your deposit type qualifies before changing it.
Tangerine: deposits and payout
Official offer termsStep 1: Open a qualifying new account
Step 2: First full deposit within 60 days
Step 3: Continue subsequent deposits 2+ months
- Required funding or deposits
- Your full eligible payroll, pension or government-benefit deposit must total at least $200 per month. Partial payroll deposits don't qualify.
- Payment timing
- Receive the first eligible deposit within 60 days of opening, then continue subsequent eligible deposits for at least two consecutive months. Payment follows in the month after the conditions are met. The first deposit and subsequent months are separate requirements. Don't expect the bonus after just two months in total.
Eligibility, deadline, fees and when to skip
- Who can qualify
- New client with a Client Number created between May 1, 2024 and October 31, 2026. Open Chequing as primary holder within 60 days of creating that number. Account eligibility includes Canadian residency and age 16 or older.
- Opening deadline
- Create your new Client Number by October 31, 2026. Then meet the account-opening and first-deposit deadlines.
- Account fees
- $0 monthly account fee and no minimum balance. Some transactions and ATM withdrawals have fees.
- Bonus restrictions
- The offer doesn't state a set period to keep the account after payment. Tangerine can revoke it for ineligibility or manipulation. You can't combine it with another Chequing cash-bonus offer.
Skip this if you want to keep part of the same payroll deposit at another bank, or can't arrange the full eligible deposit in time. Ordinary account transfers don't qualify.
Before you redirect your pay
Ask your employer or benefit provider when the change will take effect. Keep enough money in your old account for bill payments already scheduled there. A paycheque that arrives at the new bank won't cover an automatic payment still coming out of the old one.
Confirm which deposit type the bank accepts. Sending yourself an e-transfer doesn't make it payroll. If your old account charges a monthly fee without payroll or a minimum balance, include those fees when comparing the bonus.
Would you keep the account after the bonus?
Check how you'd withdraw cash, pay bills, share an account and get help when a payment goes wrong. If your current account already does those things well, a larger bonus may not be worth moving your pay.
Wealthsimple's $25 referral doesn't require payroll, so you can keep your paycheque where it is. You still need to qualify, fund the new account and keep the bonus for 180 days.
Can you spend the bonus right away?
Wait until the payment arrives and check any hold before spending it. Wealthsimple's 180-day restriction applies to the $25 bonus. Your original $100 funding doesn't have that same hold.
Once the bonus is available, you could use it for a bill, savings or debt. If you owe interest, compare that cost with what your savings would earn.
How likely are you to win the $1 million?
The October limit is 100,000 entries per person across all methods. Eligible external net deposits can add entries, and eligible direct deposits can multiply them. The official rules don't give the total eligible entries in the draw, so your own entry count isn't enough to calculate a reliable winning percentage.
Before moving money for extra entries, check the deposit rules and the October 28 deadline. Leave enough in your other accounts to cover bills and avoid fees.
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