If you have been searching for a Wealthsimple promo code and wondering if it is the same as a referral code — here is the clear answer.
| Type | What It Is | Available Now? |
|---|---|---|
| Referral code | A code from an existing user. New user deposits $100+ and gets $25 cash. | ✓ Yes — use 7-MDUG |
| Promo code | A limited campaign code sent by Wealthsimple directly to targeted users. | ✗ Not publicly available |
Every Wealthsimple account holder gets a unique code to share. When a new user signs up with that code and deposits $100 or more, they get $25 cash within 24 hours. Code 7-MDUG is working for all new Canadians opening an account right now.
Wealthsimple occasionally runs targeted campaigns and sends promo codes directly to specific users by email — usually existing clients being offered a bonus to increase their balance. These codes are not publicly available and cannot be found by Googling.
I think the confusion comes from how other companies use these words. A lot of retailers use "promo code" and "referral code" interchangeably for the same kind of discount, so people carry that assumption over to Wealthsimple without realizing the two terms mean genuinely different things here. A promo code at most stores is something anyone can find and use. At Wealthsimple, the equivalent public-facing code is the referral code, not the promo code.
The other source of confusion is that some older blog posts and forum threads from a few years ago use "promo code" loosely to describe what is actually a referral code. If you're reading an older post that mentions a "Wealthsimple promo code," it's almost always describing the same referral program, just using the wrong term.
When I first signed up in 2018, I remember being unsure myself about which term applied to what I'd been given by a friend. It turned out to be a referral code the whole time — I'd just heard someone call it a promo code casually and assumed that was the official name. Once I started using Wealthsimple regularly and eventually shared my own code with other people, I learned the actual distinction between the two terms directly from how the app labels things.
No. A referral code comes from an existing user and gives new users $25. A promo code is issued directly by Wealthsimple for specific campaigns and is not publicly available.
You cannot — promo codes are sent by Wealthsimple directly to targeted users via email. They are not listed publicly. Referral code 7-MDUG is the real bonus available to all new users right now.
Click the link on this page and code 7-MDUG is applied automatically. Or enter it manually during account creation. Deposit $100 or more within 30 days to get the $25 bonus.
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Deposit $100 or more, get cash within 24 hours. Verified July 2026.