Expired Hot Deals

Get $200-$750 cash back when you invest with BMO InvestorLine

  • Last Updated:
  • Jun 10th, 2017 5:14 am
[OP]
Deal Addict
Jul 22, 2007
2876 posts
1068 upvotes
Calgary

Get $200-$750 cash back when you invest with BMO InvestorLine

Deal Link:
Choose the cash back award that best suits you:

Invest $ 100 000 get $ 200
Invest $ 200 000 get $ 400
Invest $ 300 000 get $ 750

Offer ends April 2, 2017.
Last edited by MrDisco on Jan 22nd, 2017 12:33 am, edited 1 time in total.
Reason: removed ref link
I love my Koodo account.
86 replies
Deal Fanatic
User avatar
Jul 17, 2008
7334 posts
1208 upvotes
bkushner wrote:
Jan 22nd, 2017 12:33 am
Choose the cash back award that best suits you:

Invest $ 100 000 get $ 200
Invest $ 200 000 get $ 400
Invest $ 300 000 get $ 750

Offer ends April 2, 2017.
Sweet! Going now to flip up my mattress and get my stash. Wish they had a $500k cashback option.
Sr. Member
Jan 16, 2016
628 posts
260 upvotes
Hamilton, ON
750/300 000 = .0025 or .25% . You can make that much in regular savings account.
[OP]
Deal Addict
Jul 22, 2007
2876 posts
1068 upvotes
Calgary
Altera wrote:
Jan 22nd, 2017 1:44 am
750/300 000 = .0025 or .25% . You can make that much in regular savings account.
This promotion would be invested money moving from one bank to another. Your analysis makes no sense.
I love my Koodo account.
Deal Addict
Jul 21, 2005
1031 posts
119 upvotes
Messerschmitt wrote:
Jan 22nd, 2017 12:35 am
Sweet! Going now to flip up my mattress and get my stash. Wish they had a $500k cashback option.
Clearly this offer is not for you.

On a more relevant note, this offer is good if you're thinking of switching discount brokers.
A couple months back you could get $200 plus 20 free trades with a transfer of > $100k.
I did the switch and personally I don't mind Investorline but I still like TD Direct Investing for their reports/ideas that they give for stocks (which I don't think BMO investorline gives).
Newbie
Nov 11, 2011
2 posts
3 upvotes
Still not as good as Interactive Broker with $1 commissions.
Deal Addict
Jul 15, 2009
1073 posts
261 upvotes
Do they have quarterly/annual fees? For registered accounts?

Will they pay your transfer-out fees from another broker? For multiple accounts?
Sr. Member
Sep 28, 2004
822 posts
56 upvotes
bubak wrote:
Jan 22nd, 2017 9:37 am
Do they have quarterly/annual fees? For registered accounts?

Will they pay your transfer-out fees from another broker? For multiple accounts?
Yes, fees if under a minimum balance for both unregistered and registered accounts.

Almost every brokerage will cover transfer fees, but I advise seeing someone in person if you have multiple accounts to ensure all fees (if there are separate ones for each account) and covered.
Deal Addict
Feb 26, 2008
1430 posts
606 upvotes
bkushner wrote:
Jan 22nd, 2017 1:47 am
This promotion would be invested money moving from one bank to another. Your analysis makes no sense.

Yes, he is clearly somebody who is not pushing much of a line.

This sort of deal is decent for somebody who:

1) Has considerable long-term investments with no intention to sell in the short-term; and
2) Does not mind doing some nuisance paperwork.


I have exploited these sorts of offers in the past, with the legendary RBCDI 1% of assets bonus being the most lucrative. I must say that it's a PITA to fill out the paperwork to open an account and initiate the transfer-in of securities, and then it's another PITA to do the process in reverse to return your assets to their original institution after you've received the bonus. In this case, the most that you could get from this process would be $750 after-tax dollars, which isn't bad but it's not ridiculously attractive. If you make $100k/year like all other RFDers, that's about $50/hour before tax or ~$30/hour after tax. If it cost you less than 25 hours of buggering around to exploit this offer, you might conclude that you were adequately compensated for the effort. I would expect that this would probably take about 3 hours of my time, round-trip (move the securties to BMO and then back to RBCDI), so $750 isn't too bad...but I'll probably take a pass on it.

OP, thanks for posting this as there are a few of us who seriously consider these opportunities and they are sometimes quite lucrative.
Member
Jun 26, 2010
403 posts
201 upvotes
Vancouver
bkushner wrote:
Jan 22nd, 2017 1:47 am
This promotion would be invested money moving from one bank to another. Your analysis makes no sense.
what's wrong with this quick n'dirty analysis? I would have done the same.
Newbie
Nov 2, 2002
48 posts
10 upvotes
After investing, don't move your money between InvestorLine accounts; they will disqualify you!

Offer is specific to each account.
[OP]
Deal Addict
Jul 22, 2007
2876 posts
1068 upvotes
Calgary
john2922222 wrote:
Jan 22nd, 2017 2:32 pm
CIBC Investor's Edge also has a promo on now, $200 for $50k transfer in or $400 for $100k transfer in (plus can also get 50 free trades, good for 60 days, if you set up regular contributions to the account). Promo ends March 31, 2017.

https://www.cibc.com/ca/features/diy-investing.html
It looks like the CIBC account has to be kept for a year. I think the BMO one is shorter. I may move $300 000 to BMO and $100 000 to CIBC and take the 1150$ . Seems worth it for that. I have TD e series funds which I would have to sell, but I was looking at converting them to Mawer funds anyways. I am assuming I can buy Mawer funds from BMO and CIBC but I will check on that.
I love my Koodo account.

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