Toronto-based fintech Wealthsimple has launched a new promotion that offers both a cash bonus and a chance to win a $3 million home near Vancouver. The company says the giveaway is real and open to eligible clients who register and move money over within the qualifying period.
How the cash match works
Wealthsimple is offering customers a choice between three cash match options, depending on how long they are willing to keep transferred funds in their account.
For example, transferring $100,000 on the 1% option would result in a $1,000 bonus paid out at roughly $83 per month. Larger transfers increase the total bonus, but withdrawing more than 20% of the funds early will reduce future payments, after a 30-day grace period to top up the account.
How to enter the home giveaway
To be eligible, participants must already be Wealthsimple clients or sign up and fund at least $1 (click here to get a $25 bonus). They must then register for the promotion by March 31 and transfer a minimum of $25,000 within 30 days. Registering automatically provides 5,000 entries into the home draw, with each additional dollar transferred counting as another entry. Customers who choose the 3% match option will have their entries doubled.
Wealthsimple is also offering 20,000 additional entries for each successful referral, increasing the odds for those who bring friends onto the platform.
About the $3 million home
The home is located in Lions Bay, just north of Vancouver, and features three bedrooms, three bathrooms, and three storeys. The property includes sweeping views of the ocean, forest, and surrounding mountains, along with a private deck equipped with a hot tub, a full gym, a sauna, and a primary suite that occupies the entire top floor.
The prize includes full furnishings, along with an extra $100,000 in cash to help cover first-year expenses such as property taxes, utilities, or general upkeep.
The bottom line
The promotion combines a long-term cash bonus with a high-profile real estate prize, clearly aimed at encouraging larger account transfers and longer-term commitments. While the chance of winning the home is slim, the cash match may appeal to investors already considering a move to Wealthsimple.
The promotion runs until March 31, with the winner set to be drawn on May 4. This is the second home giveaway contest it has launched so far.
Click here to sign up for Wealthsimple and get $25 in the process.
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