Expired Hot Deals

[National Bank] Up to $300 for a new Chequing account

  • Last Updated:
  • Oct 17th, 2019 11:25 am
[OP]
Member
Nov 24, 2015
305 posts
190 upvotes
Toronto, ON

[National Bank] Up to $300 for a new Chequing account

Deal Link:
Retailer:
National Bank
More offers from National Bank
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Last edited by Natasha321 on Aug 17th, 2019 2:12 pm, edited 2 times in total.
40 replies
Sr. Member
User avatar
Jul 5, 2013
875 posts
1306 upvotes
Saint John
To be granted the cashback, you must maintain the eligible products and services, and not make any changes related to these products and services for a minimum of 12 months after signing up for them. If you do not meet this condition, you will have to repay to the Bank an amount corresponding to the period in which you did not keep your eligible products and services, within 30 days of receiving the request for payment.

Clients who have benefit from a cashback offer on their checking account since November 1st 2017 are not eligible to this offer.

2. The cashback on the annual fees for a National Bank Mastercard credit card can only be applied one time, at enrolment.
Member
Oct 7, 2015
425 posts
331 upvotes
Vanier, ON
Just make sure you have $6000 plus monthly fee left in the account to avoid monthly fee. They charge the monthly fee up front and then if you still have $6000, they will refund you. Only have $6000 is not enough to avoid monthly fee.
I lost almost $100 before I noticed.
[OP]
Member
Nov 24, 2015
305 posts
190 upvotes
Toronto, ON
demon1102 wrote:
Aug 17th, 2019 11:54 am
To be granted the cashback, you must maintain the eligible products and services, and not make any changes related to these products and services for a minimum of 12 months after signing up for them. If you do not meet this condition, you will have to repay to the Bank an amount corresponding to the period in which you did not keep your eligible products and services, within 30 days of receiving the request for payment.

Clients who have benefit from a cashback offer on their checking account since November 1st 2017 are not eligible to this offer.

2. The cashback on the annual fees for a National Bank Mastercard credit card can only be applied one time, at enrolment.
My bad.
12 months, oh boy.

This is not hot deal.
Mod's feel free to move it from hot deals area.
Member
Mar 3, 2015
294 posts
343 upvotes
King City
Natasha321 wrote:
Aug 17th, 2019 12:23 pm
My bad.
12 months, oh boy.

This is not hot deal.
Mod's feel free to move it from hot deals area.
Why not? Open the total package with 6000 for a few months. Once you get the cashback, downgrade the package to either minimalist ($4 a month) or modest (no fee with 3000 balance) and just keep it that way for the remainder of the 12 months.

This is pretty hot. It's easier than other bank offers. You get $150 for just opening an account with a package and setting up online banking. The other $150 comes with a direct deposit or payroll. A lot less hoops compared to other bank offers
Newbie
Sep 22, 2008
70 posts
84 upvotes
Toronto
Avoid this NBC like the plague. Worst bank in Canada by far, followed closely by HSBC.
[OP]
Member
Nov 24, 2015
305 posts
190 upvotes
Toronto, ON
I posted this thread with all good intentions, but looking at the down votes, I think I made a mistake.
Member
Mar 3, 2015
294 posts
343 upvotes
King City
Natasha321 wrote:
Aug 17th, 2019 2:14 pm
I posted this thread with all good intentions, but looking at the down votes, I think I made a mistake.
The promotion isn't bad. It's actually better than most bank offers because it's easier to get the promo.

People are downvoting because they've had bad experiences with NBC. However, from my own experiences I am happy with the service I get from NBC despite it not being my main banking institution. Their rates are a bit less competitive sometimes and their policies can be antiquated in certain aspects however the customer service is always good.
Deal Addict
Aug 5, 2006
4286 posts
1629 upvotes
Global Village
demon1102 wrote:
Aug 17th, 2019 11:54 am
To be granted the cashback, you must maintain the eligible products and services, and not make any changes related to these products and services for a minimum of 12 months after signing up for them. If you do not meet this condition, you will have to repay to the Bank an amount corresponding to the period in which you did not keep your eligible products and services, within 30 days of receiving the request for payment.

Clients who have benefit from a cashback offer on their checking account since November 1st 2017 are not eligible to this offer.

2. The cashback on the annual fees for a National Bank Mastercard credit card can only be applied one time, at enrolment.
So you have to keep the account and direct deposit unchanged for 12 months to get the full $300. Plus NBC has a reputation for having to chase down the promised bonus. The BMO offer sounds better plus you only need to keep 4K in the account to waive monthly fees and get the $300.
All day I dream about sports
Newbie
May 21, 2008
64 posts
4 upvotes
Surrey
Natasha321 wrote:
Aug 17th, 2019 2:14 pm
I posted this thread with all good intentions, but looking at the down votes, I think I made a mistake.
Nothing wrong with the thread.......you don't run National Bank. It's a good promotion, most of the banks are doing something similar. My plan is to do them all. Have done Tangerine and now doing the RBC ipad deal.
Deal Addict
Dec 4, 2008
1255 posts
666 upvotes
Natasha321 wrote:
Aug 17th, 2019 12:23 pm
My bad.
12 months, oh boy.

This is not hot deal.
Mod's feel free to move it from hot deals area.
Problem is with what NBC is offering, not you.

I say this as someone who did the previous promo in Oct 2017, similar requirements for $300.. except the monthly fee was half as steep, and the min balance was $3000. I got the $300 easily though, that was the upside.

They will hard pull you if you open a Savings account, and no there's no way to decline that credit check even if you ask (I dealt with the branch manager and she seemed f**king clueless on exactly what a "hard pull" was - considering she told me I wouldn't get marked on my report, and then the same day *I got hard pulled*.)

$300 for $6k is a 5% return. At $25.95/month account fee, that's ~$311/yearly - more than what they're giving back to you. For reference, TD's $300 offer requires you to open a chequing account with a $15.95/month account fee. https://www.td.com/ca/en/personal-banki ... -accounts/. That's ~$191/ yearly, wavied with a $4k min balance. The features of the account don't matter since I assume people aren't exactly looking to bank long term with the bank (NBC, TD, etc.) after hitting the promo. And, even if it does, what TD is offering is adequate for your average person (Unlimited Chequing account).

Overall I'd avoid this, unless you were looking to bank with NBC anyways... in which case this would just be icing ontop.
Member
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Nov 23, 2012
378 posts
192 upvotes
Sherbrooke, Qc
sports1 wrote:
Aug 17th, 2019 11:12 pm
Problem is with what NBC is offering, not you.

I say this as someone who did the previous promo in Oct 2017, similar requirements for $300.. except the monthly fee was half as steep, and the min balance was $3000. I got the $300 easily though, that was the upside.

They will hard pull you if you open a Savings account, and no there's no way to decline that credit check even if you ask (I dealt with the branch manager and she seemed f**king clueless on exactly what a "hard pull" was - considering she told me I wouldn't get marked on my report, and then the same day *I got hard pulled*.)

$300 for $6k is a 5% return. At $25.95/month account fee, that's ~$311/yearly - more than what they're giving back to you. For reference, TD's $300 offer requires you to open a chequing account with a $15.95/month account fee. https://www.td.com/ca/en/personal-banki ... -accounts/. That's ~$191/ yearly, wavied with a $4k min balance. The features of the account don't matter since I assume people aren't exactly looking to bank long term with the bank (NBC, TD, etc.) after hitting the promo. And, even if it does, what TD is offering is adequate for your average person (Unlimited Chequing account).

Overall I'd avoid this, unless you were looking to bank with NBC anyways... in which case this would just be icing ontop.
The major difference with TD is that you can leave right after receiving the promo without any penalty. It took 2-3 months for me to receive the 300$,
Deal Addict
Nov 21, 2013
4179 posts
2513 upvotes
x8ssJoe wrote:
Aug 17th, 2019 12:05 pm
Just make sure you have $6000 plus monthly fee left in the account to avoid monthly fee. They charge the monthly fee up front and then if you still have $6000, they will refund you. Only have $6000 is not enough to avoid monthly fee.
I lost almost $100 before I noticed.
so, it took you three months to notice? you really do not check your statement every month in case of errors, fraud or anything?

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