Questrade Reserve Benefits - RRSP Contribution Bonus Program Terms and Conditions
1. PROGRAM INTRODUCTION
This RRSP Contribution Bonus Program (the ‘Program’) is offered by Questrade Financial Group to eligible customers of Questrade, Inc. (‘Questrade’) and Questrade Wealth Management (‘QWM’) as a benefit of the Questrade Reserve program, subject to these Terms and Conditions (‘Terms’). The Program allows eligible clients to receive an account credit bonus based on their net new contributions to eligible Registered Retirement Savings Plans (RRSPs).
2. DEFINITIONS AND INTERPRETATIONS
“Questrade Reserve”: the customer loyalty program offered by Questrade to eligible clients, based on criteria established by Questrade from time to time. Eligibility is by invitation only at Questrade’s sole discretion.
“Eligible RRSP Account": a Registered Retirement Savings Plan account held with Questrade that is eligible for receiving contributions under the RRSP Contribution Bonus Program.
"Eligible Non-registered Account": a non-registered Canadian dollar cash or margin account held with Questrade that is eligible to receive cash bonus payments under the RRSP Contribution Bonus Program and potentially other loyalty programs. This account must be in good standing. Registered accounts (e.g., RRSP, RESP, FHSA) and locked-in accounts are not Eligible Non-registered Accounts for receiving bonus payouts.
"Net New Contributions": for the purpose of the RRSP Contribution Bonus Program, the total value of eligible cash contributions made directly by the client into their Eligible RRSP Account(s) during a Calendar Month, less the value of any withdrawals or de-registrations made from those same RRSP account(s) during the same Calendar Month. Specifically excluded from this definition are funds or assets transferred into the Eligible RRSP Account from registered plans (including RRSPs) held at other financial institutions as well as between RRSP accounts held at Questrade. Contributions made "in-kind" are also excluded.
"Payout Account": the specific Eligible Non-registered Account selected by Questrade to receive cash bonus payments earned through the RRSP Contribution Bonus Program. The Payout Account will be selected through the following priority:
(1) the Client's oldest eligible Cash Account;
(2) if no such Cash Account exists, the Client's oldest eligible Margin Account.
"Calendar Month": the period starting on the first day of a month and ending on the last day of that same month.
3. ELIGIBILITY
To be eligible to receive the RRSP Contribution Bonus (the "Bonus") under this Program, you must:
a. Qualify for and maintain active status in the Questrade Reserve program.
b. Hold one or more eligible RRSP accounts with Questrade.
c. Hold at least one eligible non-registered Canadian dollar account with Questrade in
good standing (the ‘Payout Account’) to receive the Bonus payment. Locked-in or
registered accounts (including the RRSP itself) are not eligible Payout Accounts.
d. Comply with all terms of your Client Agreement and these Program Terms.
4. BONUS CALCULATION
a. The Bonus is calculated as 2% of your total Net New Contributions made to your
eligible Questrade RRSP account(s) during a calendar month.
b. Exclusions: Contributions originating from transfers of assets from RRSPs held at
other financial institutions (i.e., RRSP transfers-in) or from transfers between RRSP
accounts held at Questrade are specifically excluded and do not qualify as Net New
Contributions for the purpose of this Program. Contributions made "in-kind" are also
excluded.
c. Annual Contribution Cap: Net New Contributions eligible for the Bonus are capped
each calendar year at the CRA's maximum RRSP dollar contribution limit (e.g.,
$32,490 for 2025 tax year). This limit changes annually based on CRA
announcements. You are responsible for tracking your contributions towards this
Program limit. Contributions exceeding this annual limit do not generate a Bonus
under this Program.
5. APPLICATION OF BONUS PAYOUT
a. The calculated Bonus for a calendar month will be paid out as a cash credit directly
into your eligible Payout Account.
b. Payouts will occur in the following calendar month.
c. You are responsible for ensuring you have an eligible Payout Account open and in
good standing. If no eligible Payout Account is available, the Bonus for that period
may be forfeited at Questrade's discretion.
d. The Bonus payment is considered a cash deposit to your Payout Account
and may have tax implications. Please consult your tax advisor.
6. BONUS ADJUSTMENT FOR EARLY TRANSFERS
This Program is intended to reward long-term savings with Questrade. A Bonus adjustment applies if you transfer RRSP funds to another financial institution.
a. If you initiate a request to transfer funds out of your Eligible RRSP Account(s) to an
RRSP account at another financial institution, Questrade reserves the right to recover
the sum total of all Bonuses paid to your Payout Account under this Program during
the 12-month period immediately preceding the date Questrade processes the
transfer-out request (the ‘Adjusted Bonus Amount’).
b. The Adjusted Bonus Amount will be added to Questrade’s standard administrative
fees for processing an RRSP transfer-out. This total amount will be payable as part of
the transfer-out process. You will be notified of the total fees associated with your
transfer request.
c. This recovery provision does not apply to standard RRSP withdrawals. Clients
remain solely responsible for understanding the tax implications and loss of
contribution room associated with any RRSP withdrawal as per CRA rules.
7. RRSP CONTRIBUTION LIMITS
a. You are solely responsible for monitoring your personal RRSP contribution limits as
set by the Canada Revenue Agency (CRA).
b. This Program does not alter or increase your personal RRSP contribution room.
Over-contributions may be subject to penalties imposed by the CRA.
8. GENERAL TERMS AND CONDITIONS
a. All amounts quoted are in Canadian Dollars (CAD).
b. This Program is subject to all applicable federal and provincial laws and regulations
and is not available to Questrade Financial Group employees and members of their
household or Questrade affiliated partners.
c. Questrade reserves the right to modify, suspend, or cancel this Program, or amend
these Terms, at any time, in its sole discretion, without notice.
d. This Program cannot be combined with any other offer unless explicitly stated
otherwise in the terms of that specific offer.
e. Decisions by Questrade regarding eligibility, calculation, and payout of the Bonus
are final.
f. All Questrade Reserve qualification criteria and benefits are offered at the sole
discretion of Questrade and may be changed, suspended, or withdrawn entirely at
any time without prior notice. Questrade assumes no liability for any impact these
changes may have on clients.