[Wealthsimple] Wealth Simple promotion – Best yet for High / Medium Spenders . Cold for low spenders

“For each $25,000 in successful qualifying funding, you will earn 31 days of boosted cash back, up to a maximum of 12 31-day periods.

You’ll earn a 5% boost on your first $20k of spend (up to $1,000 in cash back) per eligible 31-day period. After that, your cash back rate will return to 2% per eligible 31-day period.”

Regular iPhone deal is invest 100k , get an iPhone , on secondary market worth about 1k (1%) . Must keep money for 365 days.

Assume same amount of money – 100k , you get 4 months of boosted cashback (3%) . To breakeven ( equal as iPhone promo) you would need to put 100k in WS and make 1k in the
bonus 3% . This breakeven is $8,333 monthly . ( 8,333*0.03*4). ($250 in bonus per month)

Now if you’re a high spender ( max is 20k per month) you are able to make up to $1k/month.

The part that I feel makes the deal hot is if you have a large purchase coming up ie: a trip.

Put 25k in WS, get promo for 1 month, and buy the family trip for 10k ( or whatever your trips cost) . Your trip costs 3% less , 25k gets locked into a WS account .

Statistics: Posted by Mendesb — Jul 24th, 2025 8:24 am

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