Personal Finance

RBC not receiving the advertised multiproduct rebate

  • Last Updated:
  • May 31st, 2017 11:31 am
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[OP]
Jr. Member
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Apr 20, 2009
130 posts
82 upvotes
Ottawa

RBC not receiving the advertised multiproduct rebate

Hello folks,
we have switched to RBC about 4 years ago. We have all our banking, mortgage, investment etc with them including VIP checking account.
RBC advertising multi product rebate which you are suppose to receive automatically however in four years I had to call pretty much every month to get the product rebate ($10 off from the $30)
Every time I called I have been told that it has been fixed and now should work, but never does....
anybody with similar experience?
Check your account fees!!!!!!
19 replies
Deal Expert
Aug 22, 2011
31092 posts
16832 upvotes
Ottawa
Mine has always been consistent, showing a withdraw and refund back to back each month.
[OP]
Jr. Member
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Apr 20, 2009
130 posts
82 upvotes
Ottawa
vkizzle wrote: Mine has always been consistent, showing a withdraw and refund back to back each month.
thanks!
I got it automatically maybe twice in four years Face With Tears Of Joy
Deal Expert
Aug 22, 2011
31092 posts
16832 upvotes
Ottawa
111222 wrote: thanks!
I got it automatically maybe twice in four years Face With Tears Of Joy
Do you have the 4th product, which is supposed to be a CC, that his at least one purchase a month?
Are there months you don't make a purchase on the card?
Sr. Member
Aug 7, 2014
563 posts
233 upvotes
vkizzle wrote: Do you have the 4th product, which is supposed to be a CC, that his at least one purchase a month?
Are there months you don't make a purchase on the card?
I got the multiproduct rebate every month, and I was told by 2 RBC reps that my RBC credit card has to be used at least once every 3 month to get the rebate.
[OP]
Jr. Member
User avatar
Apr 20, 2009
130 posts
82 upvotes
Ottawa
vkizzle wrote: Do you have the 4th product, which is supposed to be a CC, that his at least one purchase a month?
Are there months you don't make a purchase on the card?
yes, we do use the credit card and also have "active investment" as RBC defines it.

we have all products necessary, but they still not doing what they suppose to.

called dozens of times, went to the branch 3-4 times but no success.
Moderator
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Mar 23, 2004
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Markham
111222 wrote: yes, we do use the credit card and also have "active investment" as RBC defines it.

we have all products necessary, but they still not doing what they suppose to.

called dozens of times, went to the branch 3-4 times but no success.
That looks like a problem from the IT side.

For me I have been getting it every month.
Jr. Member
Dec 26, 2006
194 posts
301 upvotes
Burnaby
Is there a possibility that one of the products have 3 or more owners on it (ie, 3 people on a mortgage for example).

MPR only applies to maximum 2 owners on all accounts/products.
Deal Expert
Aug 22, 2011
31092 posts
16832 upvotes
Ottawa
psudolam wrote: I got the multiproduct rebate every month, and I was told by 2 RBC reps that my RBC credit card has to be used at least once every 3 month to get the rebate.
That's correct, at least one transaction every 90 days.
Deal Addict
Apr 2, 2008
1125 posts
206 upvotes
why call?
if you have VIP checking, don't you get VIP treatment?

my personal banker at RBC does all that for me. and she gets me free checks for my personal and business amounts.
[OP]
Jr. Member
User avatar
Apr 20, 2009
130 posts
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Ottawa
amd2500+ wrote: Is there a possibility that one of the products have 3 or more owners on it (ie, 3 people on a mortgage for example).

MPR only applies to maximum 2 owners on all accounts/products.
nope,
mind you that is an interesting limitation :)
[OP]
Jr. Member
User avatar
Apr 20, 2009
130 posts
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Ottawa
thank you all for the feedback!

I give them one more try if the June fees are still not good, it will be time to move.
Newbie
Feb 24, 2017
57 posts
16 upvotes
What is your active investment?

I have direct investing. I visited a branch and they told me that would not qualify for multi product rebate (I know the site says otherwise)
Sr. Member
Jul 28, 2012
976 posts
377 upvotes
Montreal
111222 wrote: Hello folks,
we have switched to RBC about 4 years ago. We have all our banking, mortgage, investment etc with them including VIP checking account.
RBC advertising multi product rebate which you are suppose to receive automatically however in four years I had to call pretty much every month to get the product rebate ($10 off from the $30)
Every time I called I have been told that it has been fixed and now should work, but never does....
anybody with similar experience?
Check your account fees!!!!!!
Is the mortgage loan joint, but the bank account under one name?

I used to work at RBC and one of the frequent reasons for Signature No Limit or VIP banking accounts not getting a rebate was that people assumed a joint mortgage would qualify for the rebate on a single-owner account. This is not the case. (The other way around works though: a single-owner product can qualify for a rebate on a joint account as long as the holder of the single-owner product consents.)

You may also check the PDF or paper version of your monthly statement. The one time I did not get the multiproduct rebate (which was completely my fault), there was a detailed message at the end of my actual statement explaining why.

Or call RBC. Employees can check on the system specifically why a client did not get a rebate.
[OP]
Jr. Member
User avatar
Apr 20, 2009
130 posts
82 upvotes
Ottawa
airodyssey wrote: Is the mortgage loan joint, but the bank account under one name?

I used to work at RBC and one of the frequent reasons for Signature No Limit or VIP banking accounts not getting a rebate was that people assumed a joint mortgage would qualify for the rebate on a single-owner account. This is not the case. (The other way around works though: a single-owner product can qualify for a rebate on a joint account as long as the holder of the single-owner product consents.)

You may also check the PDF or paper version of your monthly statement. The one time I did not get the multiproduct rebate (which was completely my fault), there was a detailed message at the end of my actual statement explaining why.

Or call RBC. Employees can check on the system specifically why a client did not get a rebate.
thanks!

they have checked this issue and apparently the ownership structure of all the accounts is ok. However still not automatic rebate, and have to call them every bloody month and spend 20 min on the phone explaining. I always get my money back along with all kind of assurances that this will not happen again that now the problem is fixed but a month later we are back to square one. as someone said earlier probably some IT screw up which apparently they are not in hurry fixing....

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