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RBC

RBC High Interest eSavings 2% until December 1 2017

  • Last Updated:
  • Feb 8th, 2018 8:55 pm
Newbie
Apr 13, 2013
64 posts
193 upvotes
Richmond

RBC High Interest eSavings 2% until December 1 2017

Deal Link:
Retailer:
RBC
Haven't seen this posted yet, but looks like there's a new promotion to transfer your savings to RBC to earn 2% until Dec 1 2017. I know rates may not be as high as Tangerine lottery offers, but at least you know what you're getting here, especially for those who already bank at RBC.
56 replies
Deal Addict
Sep 4, 2007
1693 posts
1946 upvotes
vancouver
Good alternative for those who didn't win the PC and Tangerine lotteries. TD special will expire at the end of July. And EQ bank is higher but comes with a small probability of hassle.
Jr. Member
Jan 20, 2013
110 posts
14 upvotes
Kitchener-Waterloo
frozenmelon wrote: Good alternative for those who didn't win the PC and Tangerine lotteries. TD special will expire at the end of July. And EQ bank is higher but comes with a small probability of hassle.
Can I link this account with Tangerine, EQ, etc, to transfer funds in and out?
Sr. Member
Apr 23, 2013
586 posts
233 upvotes
Panason wrote: Can I link this account with Tangerine, EQ, etc, to transfer funds in and out?
Interested as well.
Be nice to people k?

Go Zoomers~~~~
Newbie
Apr 13, 2013
64 posts
193 upvotes
Richmond
Panason wrote: Can I link this account with Tangerine, EQ, etc, to transfer funds in and out?
Yup, that's what i do. Although i usually link it to my chequing account and then transfer in to my RBC eSavings to avoid any bank fees.
Sr. Member
Apr 23, 2013
586 posts
233 upvotes
richardpau wrote: Haven't seen this posted yet, but looks like there's a new promotion to transfer your savings to RBC to earn 2% until Dec 1 2017. I know rates may not be as high as Tangerine lottery offers, but at least you know what you're getting here, especially for those who already bank at RBC.
So 2% rate for only 6 months? Then goes back to what? 0.5%?
Be nice to people k?

Go Zoomers~~~~
Deal Fanatic
User avatar
Jan 31, 2006
8541 posts
2655 upvotes
Toronto
Panason wrote: Can I link this account with Tangerine, EQ, etc, to transfer funds in and out?
You need to open an RBC chequing account before you can open an e-saving account. Usually the external bank is link-up with the chequing account and from chequing to e-saving.
EdwardGamma wrote: Interested as well.
Deal Fanatic
User avatar
Jan 31, 2006
8541 posts
2655 upvotes
Toronto
GuiGQc wrote: - Minimum deposit required is $25,000; and
- Must maintain a $100,000 balance
HRhater wrote: HSBC has up to $500 promo. leaving cash flow in rbc to end of december seems long.

http://www.hsbc.ca/1/2/personal/special ... cash-offer
Cold Promo:

HSBC Personal Chequing Account,minimum is $1000.


To be eligible for the welcome bonus, you and any individual holding the opened HSBC Chequing Account with you must not have held, prior to the start of the offer period, an account or other product with HSBC. The welcome bonus will vary according to the opened HSBC Chequing Account: HSBC Premier Chequing Account, welcome bonus is $500; (ii) HSBC Advance Chequing Account, welcome bonus is $300 and; (iii) HSBC Personal Chequing Account, welcome bonus is $100.
Deal Addict
Oct 22, 2015
1678 posts
585 upvotes
One of the conditions is:
Funds transferred from other RBC accounts to the RBC high interest savings do not qualify for this offer.

So you have to somehow deposit directly into the esavings somehow.
Newbie
Sep 8, 2016
60 posts
28 upvotes
Could you technically withdraw everything (maybe get a bank draft for a small fee) and then just deposit it back in? Might be useful for my parents who refuse to switch away from the big banks.
Deal Addict
Oct 22, 2015
1678 posts
585 upvotes
hukevi wrote: Could you technically withdraw everything (maybe get a bank draft for a small fee) and then just deposit it back in? Might be useful for my parents who refuse to switch away from the big banks.
I don't know if you can make a bank draft to yourself?
Jr. Member
May 1, 2017
199 posts
271 upvotes
Hamilton
So if I put new money into my esavings account now I'll start earning the 2% interest right away until Dec 1?
Deal Addict
User avatar
Feb 23, 2005
2780 posts
4017 upvotes
Toronto
High interest is 2 percent........ this is just sad after taxes lol
Sr. Member
Nov 13, 2009
660 posts
306 upvotes
Oakville
wra45mon wrote: I don't know if you can make a bank draft to yourself?
Yes you can create drafts for yourself.
I've done it before with rbc
Deal Addict
Mar 25, 2006
1705 posts
628 upvotes
Toronto
hukevi wrote: Could you technically withdraw everything (maybe get a bank draft for a small fee) and then just deposit it back in? Might be useful for my parents who refuse to switch away from the big banks.
I don't think that would work, the money must come from non-RBC sources (they use your balance on May 31 for the reference:

“Deposit Window Balance”, with respect to any day during the Deposit Window, is the least of the following amounts:

the End of Day eSavings Balance on that day minus the End of Day eSavings Balance on May 31, 2017;
the End of Day Net Balance on that day minus the End of Day Net Balance on May 31, 2017; or
$1,000,000.00;
Deal Addict
Mar 25, 2006
1705 posts
628 upvotes
Toronto
wow, as usual they made a crappy promo with lots of conditions which makes it cold unless you didn't have any money in your RBC accounts after May 31 AND you are willing to keep the money (transferred from your non-RBC accounts directly into eSaving account) in the account (do NOT touch it after Aug 01) until end of promo.

the full terms and conditions are here https://www.rbcroyalbank.com/onlinebank ... terms.html

so basically the bonus interest rates applies only to the lowest End of Day eSavings Balance recorded during the Post Deposit Window minus the End of Day eSavings Balance on August 1, 2017 that means if you withdraw any money from your eSaving account after Aug 01, then your minimum balance since Aug 01 would defines your eligibility for the promo :(


I am glad I moved most of my money from RBC to EQ Bank for higher interest rate without these kind of terms....
Member
Jul 10, 2007
457 posts
340 upvotes
Does anyone really think the banks care about their customers at all? They will do as little as legally possible...
Deal Addict
User avatar
Aug 8, 2015
1112 posts
1318 upvotes
Toronto
raster wrote: Does anyone really think the banks care about their customers at all? They will do as little as legally possible...
Just like every for-profit organization.

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