Wealthsimple Monthly Millionaire: How the Promo Works and How to Take Advantage of it

What Monthly Millionaire is

Wealthsimple describes Monthly Millionaire as an ongoing contest where registered participants can win weekly prizes and a $1,000,000 grand prize each month.

The official page says the basic flow is: register, save or transfer money to earn more entries, then check back for weekly draws. Wealthsimple says entries stack until the monthly grand-prize draw, then reset for the next monthly contest.

The prize schedule

The official page presents four weekly prize levels inside the monthly contest:

• Week 1: $25,000.
• Week 2: $50,000.
• Week 3: $100,000.
• Week 4: $1,000,000.

Wealthsimple says winners are drawn every Thursday, and winners can reveal results in the app. It also says winners receive an email notification.

How to get the first 500 entries

Wealthsimple says you receive 500 entries once you register and open and fund a chequing account. Participants stay registered month after month and receive 500 entries again when entries reset for the next monthly contest.

How extra entries work

The official page gives four main ways to increase entries, with a monthly maximum of 100,000 entries:

1. Register and fund a chequing account: 500 entries.
2. Save money: 1 entry for each dollar of positive net deposits. Wealthsimple describes this as money in minus money out.
3. Transfer money from another institution: 1 entry for each dollar transferred.
4. Refer friends successfully: 5,000 entries for each friend who funds their first account by adding $100 within 30 days.
5. Set up direct deposit: Wealthsimple says total entries are doubled once direct deposit is set up, starting in the first month a direct deposit is received.

How net deposits are calculated

Wealthsimple's FAQ says net deposits are calculated as total deposits and transfers into Wealthsimple accounts minus withdrawals. For example, it says a $500 deposit followed by a $200 withdrawal would create a $300 net deposit and 300 entries. If direct deposit is set up, the example doubles to 600 entries.

The page also says not every transaction counts against entries as a withdrawal. Exempt examples include transfers between your own Wealthsimple accounts, prepaid Mastercard payments, payments to a Wealthsimple Visa card, bill payments or pre-authorized debits, and certain borrowing-related withdrawals.

What deposits and account types count

The official FAQ says all account and activity types are eligible, and gives examples of deposits from outside Wealthsimple:

• Direct deposits.
• Linked external bank account transfers.
• Interac e-Transfer.
• Wire transfers.
• Linked Visa or Mastercard debit card deposits.
• Physical cash deposits.
• E-transfers and peer-to-peer payments received into the entrant's account or accounts.

For institutional transfers, the page lists eligible account types including RRSP, Spousal RRSP, LIRA, TFSA, non-registered, Crypto, FHSA, RESP, RRIF, LIF, and corporate or business accounts.

What if you deposited before registering?

The official FAQ says deposits or transfers completed on or after May 28, 2026 can still count toward entries even if registration happened after the activity. It says the same can apply to referrals if the friend joined through your referral link, funded at least $100 within 30 days, and the funding completed between May 28 and June 24, 2026. Activity before May 28 is not eligible, according to the page.

For the June contest specifically, Wealthsimple says the period runs May 28 to June 24, 2026, with the July contest beginning June 25. If an eligible deposit, transfer, or referral misses the current month's timing, the FAQ says it can automatically roll into the next one as long as you remain registered.

Can it stack with other Wealthsimple offers?

Wealthsimple says Monthly Millionaire can be combined with other Wealthsimple offers that are currently in market, unless those offer terms say otherwise. The page gives an example that you can earn $25 for referring friends in addition to gaining 5,000 entries per referral.