What is the promotion?
The Flahmingo Tax-Free Savings Account (TFSA) Cash Promotion is a limited-time promotion for new and existing Flahmingo clients who reside in Alberta. Clients who make a new CAD deposit into their Flahmingo TFSA account by May 31, 2023, convert the deposited amount to USD during the promotional period or within 180 days after the end of the promotional period, and hold the deposit as cash, or use it to trade at their discretion, for 180 days will receive a cash bonus, subject to certain conditions.
To be eligible for the promotion, clients must:
- Be a new Flahmingo client who creates a Verified Account by May 31, 2023 or be an existing Flahmingo client
- Deposit a minimum of $250 CAD and a maximum of $30,000 CAD into their Flahmingo TFSA account during the promotional period (February 21, 2023 to May 31, 2023). This can be one or multiple deposits.
- Convert the funds into US dollars during the promotional period or within 180 days after the promotional period ends (June 1, 2023 until 11:59 PM ET on November 27, 2023).
- Hold the funds as cash, or trade the funds at your discretion, for 180 days after May 31, 2023
- The cash bonus will be calculated based on the net deposit amount (new deposits minus withdrawals) made into the account, that meet the criteria above, and will be deposited into your Flahmingo account 180 days after May 31, 2023
- For new customers, the Verified Flahmingo account must be opened during the Promotional Period
- Limit of 1 bonus per qualified client
- Must be a resident of and be of the age of majority in Alberta at the time of submitting the new account application
- Bonus is non-transferable and can be combined with other sign-up offers or promotions
- Bonus is subject to change at Flahmingo's sole discretion and cannot be applied retroactively.
|$250 - $499 CAD||
|$500 - $1,999 CAD||
|$2,000 - $4,999 CAD||
|$5,000 - $14,999 CAD||
|$15,000 - $19,999 CAD||
|$20,000 - $30,000 CAD||
Who can qualify?
This promotion is open to all current Flahmingo clients and new clients who are residents of Alberta.
To be eligible for this promotion, clients must create a Verified Account which meet Flahmingo's account opening requirements during the onboarding process and be approved by Flahmingo at its discretion. After the account is opened, the account must also be in good standing until the 180 days promotional period ends (11:59 PM ET on November 27, 2023).
Clients must deposit a minimum of $250 CAD and a maximum of $30,000 CAD. Only deposits made during the promotional period (between 9:00 AM ET on February 21, 2023 and 11:59 PM ET on May 31, 2023) will be eligible for the bonus.
Clients must convert the deposited funds into US dollars during the promotional period or within 180 days after the promotional period ends and hold the funds as cash, or trade the funds at their discretion, for 180 days after the promotional period ends.
This promotion is limited to one bonus per qualified client and is non-transferable. The bonus may be combined with other offers or promotions from Flahmingo, but it cannot be applied retroactively. The promotion is currently available only for residents of Alberta, and unavailable to residents of other Canadian provinces.
This cash bonus promotion is sponsored by Flahmingo Investments Inc. Clients may hear about the promotion through online advertising or other communication channels promoted by Flahmingo.
How long does the promotion go on for?
This promotion begins on Monday, February 21, 2023 at 9:00 AM ET and ends on Sunday, May 31, 2023 at 11:59 PM ET. To be eligible for the promotion, you must have a Verified Account (submit your account application form, and have it reviewed and approved by Flahmingo). After the account is opened, the account must also be in good standing until 11:59 PM ET on November 27, 2023. You must deposit a minimum of $250 CAD into your Flahmingo TFSA Account, by 11:59 PM ET on May 31, 2023, convert the funds to US dollars during the promotional period or within 180 days after the promotional period ends and hold the funds as cash, or trade the funds at their discretion, for 180 days after the promotional period ends.
- A new Flahmingo client opens a new Flahmingo TFSA account by May 31, 2023 and deposits $10,000 CAD and converts the $10,000 CAD to USD by May 31, 2023. That new client is eligible to receive $100 CAD paid 180 calendar days later for a total of $100 CAD in cash bonus.
- A new Flahmingo client opens a new Flahmingo TFSA account by May 31, 2023 and deposits $10,000 CAD but converts the $10,000 CAD to USD on June 30, 2023. That new client is eligible to receive $100 CAD paid 180 calendar days later for a total of $100 CAD in cash bonus.
- An existing Flahmingo client deposits new funds into their Flahmingo TFSA account by May 31, 2023, and deposits $10,000 CAD and converts the $10,000 CAD to USD by May 31, 2023. That existing client is eligible to receive $100 CAD paid 180 calendar days later for a total of $100 CAD in cash bonus.
- A new or existing Flahmingo client opens a new Flahmingo TFSA account or contributes to an existing Flahmingo TFSA account and deposits $200 CAD by May 31, 2023. That client is not eligible to receive a cash bonus as the minimum deposit eligible for the cash bonus is $250 CAD.
To be eligible for the bonus offered by Flahmingo, clients must deposit funds into their Flahmingo TFSA account and convert the funds to USD. The funds must be held as cash in the USD account or invested in securities available on the Flahmingo platform. Deposits made in CAD and held as cash in the CAD account do not qualify for the bonus. Flahmingo only accepts deposits in CAD and does not support the transfer of USD funds.
To receive the bonus, the deposit must remain in the USD account or invested in securities on the Flahmingo platform for 180 calendar days after May 31st, 2023. Withdrawing any amount before this period will result in a deduction from the net deposit amount.
- Keep in mind that since Flahmingo only accepts deposits through the e-transfer network, your bank may have a daily transfer limit of $3,000 CAD, a weekly transfer limit of $10,000 CAD, and a monthly transfer limit of $30,000 CAD.
- The calculation of your bonus will be based on the total amount of funds deposited into your Flahmingo account (net of withdrawals) up until 11:59 PM on May 31st, 2023.
- At this time, Flahmingo only allows you to deposit up to $30,000 CAD into your TFSA account within the first 12 months of holding an account with Flahmingo.
Payment of bonus:
The bonus will be applied to the client's Flahmingo TFSA account within 10 business days after the 180-day hold period has been completed. The bonus will be paid in Canadian dollars.
Do I need to buy stocks with my bonus?
There is no requirement that you purchase any securities with the bonus. We do not provide recommendations or investment advice about how to use funds in your Flahmingo TFSA account. You are free to use the funds as you see fit, whether that is to invest in securities or hold the funds in cash.
However, please note that if you withdraw funds from your TFSA account prior to the 180 day hold period, the amount withdrawn will be deducted from your net deposit total and may result in a reduction of your bonus.
Terms and Conditions:
By participating in the Flahmingo Tax-Free Savings Account Cash Promotion (“Promotion”), you acknowledge that you have read, understood and agree to the terms and conditions outlined in this document. If you have any questions or concerns about the Promotion, please contact Flahmingo Investments Inc. (“Flahmingo”) support for further clarification.
To be eligible for this Promotion, new accounts must meet Flahmingo's account opening requirements during the onboarding process and be approved by Flahmingo at its discretion (“Verified Account”). After the account is opened, the account must also be in good standing until 11:59 PM ET on November 27, 2023.
Clients must deposit a minimum of $250 CAD and a maximum of $30,000 CAD. Only deposits made between 9:00 AM ET on February 21, 2023 and before 11:59 PM ET on May 31, 2023 (“Promotional Period”) will be eligible for the cash bonus. This can be one or multiple deposits.
Clients must convert the deposited funds into US dollars during the Promotional Period or within 180 days after the Promotional Period ends and hold the funds as cash, or trade the funds at their discretion, for 180 days after the Promotional Period ends.
Flahmingo reserves the right to modify, cancel, or limit this Promotion at any time, without prior notice. Flahmingo shall be the sole and final authority in interpreting and enforcing the rules and regulations of this Promotion. In case of suspected fraudulent or abusive practices, violation of the terms and conditions, or gaming of the system, Flahmingo reserves the right to revoke any and all promotions from your Flahmingo account(s) and take such other actions as it deems appropriate, including, but not limited to, closing your Flahmingo account(s). Participating in this Promotion does not guarantee your acceptance as a client of Flahmingo. This Promotion is only valid for individuals who reside in Alberta and meet the eligibility requirements. The standard terms and conditions regarding your use of Flahmingo and any agreements applicable to your Flahmingo account(s) can be found on the Flahmingo website (https://flahmingo.com). To access your account documents, log in to your Flahmingo app, click "Profile", then under "Documents" click "Account Documents." All terms and conditions apply and are not affected by this Promotion in any way.
Clients will see a transaction under the “Notifications'' tab that records the bonus payment. The bonus will be reported by Flahmingo as a Tax-Free Savings Account (“TFSA”) contribution to the Canada Revenue Agency (CRA). Clients are responsible for reviewing their available TFSA contribution room and ensuring that they do not exceed their TFSA limit, as well as ensuring that the bonus is properly reported on their tax return. If clients have any questions about how to properly report the bonus, they can consult a tax professional or visit the CRA website for more information. It's important for clients to note that the bonus payment is considered taxable income and will impact their overall tax liability. To ensure proper reporting and to avoid any potential penalties or interest charges, clients should take the time to understand their responsibilities and take action accordingly.
Flahmingo is not responsible for any errors or omissions in the information provided and will not be liable for any loss or damage of any kind resulting from the use of this information. Please note that investing in securities carries inherent risks, and you should thoroughly research any investment before making a decision. You should also consult with a financial advisor to determine if the investment is appropriate for you and your individual financial situation.
By participating in this Promotion, clients agree to be bound by these rules and the decisions of Flahmingo and waive any right to claim ambiguity in the Promotion or these terms. Clients also agree to hold Flahmingo harmless from any and all damages or claims that may arise out of their participation in this Promotion.
In the event of any conflict between these terms and conditions and any other promotional material or information related to the Promotion, these terms and conditions shall govern. If any provision of these terms and conditions is held to be invalid or unenforceable, such provision shall be struck, and the remaining provisions shall be enforced.
This Promotion is subject to all applicable laws and regulations and is void where prohibited by law. All decisions regarding the interpretation of the rules, eligibility, and other issues arising under this promotion shall be made by Flahmingo and shall be final.
This Promotion is governed by the laws of the Province of Alberta, Canada and any disputes arising from it will be resolved through mediation. The mediator will be chosen by Flahmingo. Both parties must bear the cost of their own representation until a decision is reached. If the client disagrees with the outcome of the decision when escalating the issue to Flahmingo, they will be responsible for paying the cost of the mediation and must accept the decision as final and binding. No further legal action can be taken after the decision has been made. By participating in this program, clients agree to these terms.
Securities are offered to clients by Flahmingo, a registered restricted dealer in Alberta. This is not an offer, distribution, solicitation of an offer or advice to buy or sell securities or open a self-directed TFSA in any jurisdiction where Flahmingo is not registered. Securities offered by Flahmingo are not Canadian Investor Protection Fund insured. The broker-dealer used by Flahmingo in the United States is a member of the Securities Investor Protection Corporation. However, Flahmingo does not represent or warrant whether protection may be available to our clients in Canada.
Commission-free trading of securities refers to $0 commissions for Flahmingo self-directed individual TFSAs that trade U.S. listed securities, including fractional shares. Keep in mind that other fees such as foreign exchange fees and paper statement fees may apply to your self-directed TFSA. Please see our Fee Schedule here:
All investments involve the risk of loss, and the past performance of a security or a financial product does not guarantee future results or returns. Clients should be aware that system response, execution price, speed, liquidity, market data, and account access times are affected by many factors, including market volatility, size and type of order, market conditions, system performance, and other factors. These risks are to be assumed by the client. Clients should consider the investment objectives and unique risk profile of Exchange Traded Funds (ETFs) carefully before investing. ETFs are subject to risks similar to those of other diversified portfolios. Leveraged and Inverse ETFs may not be suitable for all clients and may increase exposure to volatility through the use of leverage, short sales of securities, derivatives and other complex investment strategies. Third-party information provided for Flamingo's marketing communications emanating from its social media community, market prices, data and other information available through Flahmingo are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information provided is not warranted as to completeness or accuracy and is subject to change without notice. View disclosures here:
This promotion is offered by Flahmingo Investments Inc. For any questions regarding this promotion, please contact us at firstname.lastname@example.org.
You may opt out of the Promotion at any time by notifying us at email@example.com, in which case the cash bonus pursuant to the Promotion will be canceled or reversed.