Toronto-based fintech Wealthsimple is giving away $1 million every month, and getting in is pretty straightforward. Here’s what you need to know.
The Monthly Millionaire launch came a day after Wealthsimple held its third annual Wealthsimple Presents event in Calgary, where the company rolled out a wave of new features. The highlights include household accounts that give families a single view of all their finances, kids and teen accounts with parental controls coming Fall 2026, a business chequing account with 2.25% interest aimed squarely at small business owners tired of big bank fees, and a USD chequing account coming later this year that works on both sides of the border.
Wealthsimple also announced 35% off Telus phone plans and an upcoming deal with Apple.
The Basics
You need a Wealthsimple chequing account with at least $1 in it to enter. The account is free, has no minimum balance requirement, and earns up to 2.25% interest. Every dollar you deposit counts as one entry, so the more you save, the better your odds.
How to Sign Up
Register through the Wealthsimple app, on the Monthly Millionaire page by entering your email, or through an invite from a Wealthsimple rep. Once you’re in, you’re automatically enrolled each month.
Ways to Earn More Entries
Entries cap out at 100,000 per monthly contest period and carry over between weekly draws, so you don’t lose anything as the month goes on.
The June 2026 Draw Schedule
The contest runs weekly with escalating prizes before the big one:
There are also thousands of smaller cash prizes ranging from $3 to $500 up for grabs along the way.
A Few Things to Note
The contest is open to Canadian residents who are the age of majority in their province. Quebec residents are eligible. You can stack this contest with other Wealthsimple promotions unless the terms say otherwise, including the referral bonus and the One Percent Match promotion.
You can track your entries in the Wealthsimple app by tapping the gift icon in the top right corner, though it can take up to 72 hours to update after a deposit.
Click here to sign up for Wealthsimple and get a $25 bonus and also enter the contest.
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