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New Beneficiary Bonus Offer

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Terms and conditions

General:

Offer Start Date: November 1, 2024, at 12:01 am EST
Offer End Date: December 31, 2024, at 11:59 pm EST

Eligibility Criteria:

1. The Offer is available to all existing Embark Student Corp. (“Embark”) Subscribers (the “Offeree”) who meet the following conditions:

a. Enrol at least one New Beneficiary in an Embark Student Plan or/and Embark Select Conservative Plan (“Embark Plan(s)”) through their secure account on embark.ca after the Offer Start Date and prior to the Offer End Date.

b. The New Beneficiary may be enrolled into an existing or new Embark Plan.

An “Existing Subscriber” is a person that is a current subscriber of an active Embark Plan.

A “New Beneficiary” is defined as one that has not had their SIN previously registered with any Embark Student Corp. (formerly Knowledge First Financial Inc.) Plan. The New Beneficiary must have a valid SIN and the newly opened plan must be eligible for registration with the Canada Revenue Agency (CRA) as a Registered Education Savings Plan (RESP).

Bonus Conditions:

2. The New Beneficiary Bonus of $300 (the “Bonus”) for each enrolled New Beneficiary will be deposited into Offeree’s Embark Plan within ninety (90) days from the date of the New Beneficiary enrollment provided all conditions set out in these Terms and Conditions are met.

3. The Bonus shall not be paid in cash or other form. The Bonus cannot be paid to another related or unrelated RESP account outside of Embark Plan with the New Beneficiary.

4. Embark Plan is deemed successfully opened when the Offeree has satisfied the Account Terms, and where necessary, the newly opened plan is registered as a RESP with the CRA.

5. After fulfilling the Offer conditions, the Offeree must keep their Embark Plan active for twelve (12) months after the date of the enrollment of the New Beneficiary. In the event of termination of the Embark Plan within that timeline, the Bonus will be subtracted from the balance of the Offeree’s Embark Plan. When Embark Plan is terminated, standard closing costs and transfer out fees will apply, as defined in the Embark Student Plan Prospectus or Embark Select Conservative Plan Prospectus.

6. The Bonus will be treated as a principal contribution and will be eligible to attract applicable government grants and earn income.

7. It is the Offeree’s responsibility to know if they have enough contribution room in their Embark Plan. If the Bonus exceeds the maximum amount of contributions allowed by the CRA, Embark will not be held responsible for any taxes or penalties resulting from payment of any Bonus or excess contributions, or for the contributions not attracting grants.

8. All amounts are stated in Canadian dollars.

Limitations:

9. This Offer cannot be combined with any other Embark Student Corp. offers.

10. In the event of conflict, these Terms and Conditions will prevail over any of the contents of any brochure, promotional materials or statements, or any other communication regarding this Offer, whether written or oral from Embark, except where otherwise stated.

11. Embark reserves the right at its sole discretion to, without advance notice, terminate or suspend the Offer, in whole or in part, or modify it in any way.

12. Embark reserves the right, at its sole discretion, to suspend, disqualify, limit or revoke this Offer for any Offeree it finds or believes to be manipulating or otherwise abusing the process, fairness, or integrity of the Offer or otherwise becomes ineligible. Bonuses earned through fraudulent activities or activities in violation of these Terms and Conditions will be null and void and repayment may be requested by Embark.

13. By accepting this Offer, you agree that you have read and understood these Terms and Conditions and agree to be bound by them. Any notice offered by us with respect to this Offer is deemed to be provided on the day it is posted on Embark’s website.