This is a preview: it shows the shortest, plain-language view with example figures. Open the file in Safari or Chrome to use the calculator and the Length choice.
Research · Canadian investors · $250K+ to invest · not yet a BMO or RBC client
Broker Transfer Bonuses, Fall 2026
Canadian brokers will pay you cash to move your investments to them: up to 2.25% of what you move. Here is what is worth doing, what it costs you, and by when.
The best two offers close to new clients this weekend. Open the BMO InvestorLine account by Sun Nov 1 and the RBC Direct Investing account by Mon Nov 2. The money can arrive until Mon Nov 30. After that, the best open offer is Wealthsimple's 1%, which has no deadline.
Key findings
- Best total: use two brokers. Up to $500K of registered money (RRSP, TFSA, RRIF and similar) at RBC for 3%, and the rest at BMO. On $100K split half and half, that pays $2,500, against $2,000 at BMO alone.
- The price is time, not risk. The money must stay in: until Nov 30, 2027 at BMO, Nov 30, 2028 at RBC. Market drops don't cut the bonus; withdrawals do.
- Ask your current broker to match first. A "pay to stay" match takes one call and no paperwork.
- The real deadline is earlier than it looks. Transfers take 1 to 3 weeks, and the money must arrive by the deadline. Start the week you decide.
- Worth it for most $250K+ investors who won't need to withdraw during the hold. Not worth it if you will, or for amounts under about $25K, where transfer fees eat much of the bonus.
The strategy
Get paid to move, or to stay. Move your investments, unchanged, to a broker that pays a cash bonus for new money, and keep them there for the hold period. Your investments and their risk stay the same; only the firm holding them changes.
Background
How a bonus works. You get a percentage of the money you move, up to a maximum. You must keep the money there for a set time. It is paid later, often in two parts.
Benefits: your numbers
Highest bonusRBC + BMO$22,5002.25% of $1,000,000
- RBC: $500,000 → $15,000
- BMO: $500,000 → $7,500
AlternativeBMO only$12,5001.25% of $1,000,000
- BMO: $1,000,000 → $12,500
AlternativeWealthsimple only$10,0001.00% of $1,000,000
- Wealthsimple: $1,000,000 → $10,000
Pains: what it costs you
- Lock-up. Taking cash out during the hold cuts the bonus. That includes RRIF payments and cash drawn for an investment loan.
- Transfer-out fees, about $50–150 per account at your current broker. BMO and RBC don't refund them; Wealthsimple and Qtrade refund up to $150.
- Bonuses you are still owed. If your current broker is still paying you an earlier bonus, moving money out may cut it. Check its terms first.
- Not guaranteed. Every broker can change or withhold an offer. Confirm the terms in writing before you move.
Behavioral risks
- Starting too late. The money must arrive by the deadline, and transfers take 1–3 weeks. Waiting until the deadline week usually means no bonus.
- The hassle stops people. Each account needs its own transfer form. Start with the largest account; it carries most of the bonus.
- Withdrawing by habit. One withdrawal during the hold can cost more than it is worth. Move only money you won't need until the hold ends.
"Worth It"?
Yes $250K+ you won't touch for 1–2 years: about 1.2% a year extra at BMO alone, with no change to your investments.
Maybe $25K–$250K: the bonus is a few hundred to a few thousand dollars. Weigh it against the fees and the forms.
No You will need to withdraw during the hold, or your current broker still owes you a larger bonus.
Next steps (ACTion Plan)
- Ask your current broker to match (script below), before you start any transfer.
- BMO InvestorLine: open an account online with promo code
FINPROGby Sun Nov 1, and start the transfers. You also need a non-registered Cash account there to receive the bonus. - RBC Direct Investing (registered money only): open the account through RBC's promotional link by Mon Nov 2. Call 1-800-769-2560 if you can't find it.
- Calendar the payouts: BMO on Jun 28 and Dec 23, 2027; RBC by Dec 31, 2027 and Dec 31, 2028. Don't withdraw before them.
What to say to your broker (phone or chat; ask for the client-retention team): "[Broker] is offering me a [3%] cash bonus, about $[amount], to transfer my $[assets] to them by [date]. I'd rather stay. Will you match it, or offer a retention bonus? If so, please send me the terms in writing, including any hold period."