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

Horrendous ! **

username76025 wrote: ↑

Aug 20th, 2019 1:59 pm

Worst bank ever, BUYER BEWARE!!! They even had database leaks recently which is horrendous ‘

data leaks are sadly common these days. Home depot few years ago, am airline, don,t recall wich, Equifax, wich have the personnal infos on thousands and thousands of persons, and more and more data leaks that I don't know, and recently Desjardins and Capital one

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.

Your intentions were good and I feel this will benefit some people.
I was one of, I guess a few, that benefited from previous National Bank chequing account promotions back in 2017 and 2018.
I haven't had an issue with their promotions and if it wasn't because I am current client (with their 2018 promo), I would have signed up for this 2019 promo.

Like others have said, don't worry about the down-votes and keep on posting!

You need to set up Direct Deposit for this offer ... Your pension or payroll ...

From deal's details:

Little details that matter

Offer conditions

1st Cashback conditions

You must:

Sign up to your online bank and for eStatements
Carry out at least one transaction in your checking account

Conditions to double up the cashback offer

Use a specimen cheque to set up recurring direct deposits of your pay or monthly retirement pension. You can get a copy online or at a branch.
Online: Sign up to your online bank. Once signed in, select the account into which you want to deposit your funds, and go to the Option section of the account. Click on Download a cheque sample.
At a branch: Visit your branch and ask for a specimen cheque or letter confirming your account information.
You have 60 days following the opening of your chequing account to meet the offer conditions and redeem your cashback.

TheSheldor wrote: ↑

Aug 17th, 2019 12:48 pm

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

Downgrading the account sounds like you are changing the account and is in the terms as not allowed?

DoorCrasher wrote: ↑

Aug 18th, 2019 10:34 am

5% return is not bad! And, if you take into consideration their MasterCard World Elite ($150/year, waived1st year) wich allows you a $250/year refund on travel fees like airport parking, bags fees, seats selection so first year 300+ 250 = 550 ON A $6K sleeping there = 9% return. The following years $150 (card fees) + $250 (travel fees) $400 on a $6K sleeping there = 6.5% return. And this is not taking into consideration other (very small) perks that the account offers.

Could you explain how do i proceed to waive the annual fee on the credit card? Can i open the credit card first or do i have to get the bank account first?

JFRACINE wrote: ↑

Sep 9th, 2019 10:39 am

Could you explain how do i proceed to waive the annual fee on the credit card? Can i open the credit card first or do i have to get the bank account first?

Not sure, but I think that the annual fees are charged 2 months after the credit card account opening, it should give you this 2 months window to open your bank account and waive the CC annual fees

Does anyone know if you can apply in branch to open a chequing accout and credit card at the same time and only get one hard credit check?

I vouch with many of you.

NBC is indeed the worse bank to deal with. They're trash.

Are you sure they can still waive the CC fees after the first year if you still keep your total account package?

So it's a 5% 12 month term deposit plus whatever interest rate the account itself has. That's not bad, better than any other bank.

Sure, you'd probably do better in an RRSP and they'll probably issue you a T5 so you'll have to declare the interest as income and pay tax on it. Unless you can open a TFSA in the promo, I guess. So even if they tax you at 30ish% that's still a full 1% better rate than a 3 year locked in investment at a 1 year term. Worth the headache for $60? Well not for me personally but if you churn this is fine.

But still, it's not *horrible*... certainly not downvote worthy.