New Beneficiary Bonus Offer
New Beneficiary Bonus Offer
Terms and Conditions
General:
Offer Start Date: July 28, 2025, at 12:01 am EST
Offer End Date: August 25, 2025, 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 Plan and is under the age of eighteen (18) on the date of enrolment. New Beneficiary must have a valid SIN and the newly opened Embark Plan must be eligible for registration with the Canada Revenue Agency (CRA) as a RESP.
Bonus Conditions:
2. The eligible Offeree who enrolls at least one New Beneficiary into an Embark Plan before the Offer End Date will receive a bonus Contribution of $100 (one hundred dollars) (the “Bonus”) into the new Embark Plan provided all conditions set out in these Terms and Conditions are met.
3. 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.
4. The Bonus will be deposited into Offeree’s Embark Plan as principal Contribution (which will be eligible to attract applicable government grants and earn income) within ninety (90) days from the date of the New Beneficiary enrolment. 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 the Embark Plan with the New Beneficiary.
“Contribution” means the amount you pay into your Embark Plan.
5. After fulfilling the Offer conditions, the Offeree must keep their Embark Plan active for thirty-six (36) months after the date of the New Beneficiary enrollment. In the event of termination of or a non-Post Secondary Education Withdrawal (NPSE) from the Embark Plan within that timeline, the Bonus will be subtracted from the balance of the Embark Plan (the “Clawback”). When the Embark Plan is terminated, standard closing costs and transfer out fees will apply, as defined in the Embark Plan’s Prospectus.
6. The Clawback will be subject to the following exceptions:
a. Termination of Embark Plan due to a death of the New Beneficiary, or
b. Post-Secondary Education (PSE) withdrawal, or
c. Non-Post Secondary Education Withdrawal (NPSE) if the New Beneficiary is twenty-five (25) years of age or older.
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.
Other Terms and Conditions:
9. Offeree cannot combine the Offer with any other Embark enrolment bonus offers.
10. The terms and conditions of this Offer, including its overall availability, are at the sole and absolute discretion of Embark and are subject to change at any time without prior notice.
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. Bonus 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.
12. In the event of conflict, the 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.
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.