Expired Hot Deals

[Royal Bank] Open Student Banking Account ...Free $60

  • Last Updated:
  • Sep 21st, 2017 9:36 am
[OP]
Sr. Member
User avatar
Dec 16, 2011
833 posts
603 upvotes
Pointe Claire

[Royal Bank] Open Student Banking Account ...Free $60

Was looking to open bank accounts for the kids and found this.
Open a no monthly fee student bank account and get $60. No minimum balance required.
"If you're 13 years of age or above and a full-time student, you can bank for free with an RBC Student Banking account. Includes 25 free debits per month including withdrawing cash from an RBC Royal Bank ATM, paying bills or transferring money between your RBC Royal Bank accounts"

I also looked online at Bank of Montreal, TD, Scotia Bank and they weren't giving away money. More info from site below:

* To qualify for the $60 you must 1) be a new client to RBC and open between July 17 and September 29, 2017: an RBC Student Banking® account with no monthly fee (you can also get $60 if you open an RBC No Limit Banking for Students® account with a monthly fee of $10.95); 2) enroll in either RBC Online Banking or RBC Mobile Banking; and 3) make one debit or credit transaction using your new student banking account before October 31, 2017. Note: The $60 cash will be deposited to your new student banking account within 6-8 weeks after opening your new account, provided you have met the eligibility criteria as outlined above and only if your account remains in good standing.
§ RBC Student Banking and RBC No Limit Banking for Students accounts are available to any full-time student upon presentation of student identification. Students who are 25 years of age and older must present proof of student status each year to maintain their eligibility for a student account.
˄ Unlimited free Interac e-Transfer transactions are available in all Canadian dollar personal banking (chequing) accounts and are not counted toward the free monthly total in accounts with a limited number of free debits. In all Canadian dollar savings accounts, Interac e-Transfer transactions are $1 each, count as a Debit Transaction toward any free monthly total and carry an Excess Debit Transaction fee, if applicable. Interac e-Transfer transactions are not available in US dollar accounts.
Φ Free Debit Transactions are calculated per Monthly Cycle. $1 is charged for each debit over the monthly limit. RBC Virtual Visa Debits, RBC Royal Bank loan payments, RBC Royal Bank mortgage payments, pre-authorized and self-serve RBC Royal Bank credit card payments and contributions to RBC investment accounts (such as GICs, Royal Mutual Funds, Registered Savings Plans, Registered Education Savings Plans, Registered Disability Savings Plans and Tax-Free Savings Accounts) from your RBC Student Banking Account are free of charge. All other Debit Transactions from this Account are counted as Debit Transactions towards the free monthly Debit Transactions included in the Account, and give rise to an Excess Debit Transaction Fee, if the total free monthly Debit Transactions are exceeded.
∆ Royal Credit Line for Students is provided by Royal Bank of Canada and is subject to its standard lending criteria. Offer may be changed, withdrawn or extended at any time, without notice. Not available in combination with any other rate discounts, offers or promotions. Some conditions apply. The minimum payment is the accrued interest and, only if applicable, service fees that apply for that period as well as your LoanProtector insurance premium and taxes.
± Interest rate for Royal Credit Line is based on the Royal Bank Prime Rate, plus or minus a premium or discount depending upon your program of study. Two Royal Credit line cheques may be written during each monthly cycle without charge. A $2.00 Royal Credit Line Cheque Fee applies to each cheque thereafter. Refer to your Student Royal Credit Line Agreement for details.
Ω RBC Online Banking is provided by Royal Bank of Canada. RBC Mobile is operated by Royal Bank of Canada, RBC Direct Investing Inc. and RBC Dominion Securities Inc.
˜ You will earn i) 1 RBC Rewards point for every $1.00 in Gas, Grocery, and Drug Store Purchases you make; and ii) 1 RBC Rewards point for every $2.00 on all other purchases (including pre-authorized bill payments) you make on your card. Purchases made at merchants classified by Visa’s “Merchant Category Code” (MCC) as: (i) “service stations” (MCC 5541) or “automated fuel dispensers” (MCC5542) are “Gas Purchases”; (ii) “grocery stores” (MCC 5411) are “Grocery Purchases”; and (iii) “drug stores & pharmacies” (MCC 5912) are “Drug Store Purchases” (“Eligible MCCs”). Even though some merchants may sell gas, grocery, and drug store merchandise, purchases made at these locations may not necessarily qualify as Eligible MCCs if the merchant is not classified as such by Visa. Also, you may make a purchase at a merchant that is not classified as an Eligible MCC but is located on the premises of a merchant that is classified as an Eligible MCC, in which case your purchase would not qualify as an Eligible MCC. We cannot guarantee that any merchant, operating in whole or in part as a gas, grocery or drug store, is classified as an Eligible MCC and in no event will we be liable or responsible for any claims with respect to a grocery store purchase made at a merchant that is not classified as an Eligible MCC. See sample list of eligible merchants at www.rbcrewards.com/shop. RBC Rewards points are earned on net purchases only; they are not earned on cash advances (balance transfers, cash-like transactions and bill payments that are not pre-authorized charges that you set up with a merchant), interest charges or fees, and credits for returns and adjustments will reduce or cancel the points earned by the amounts originally charged.
п Refers to Purchase Security and Extended Warranty insurance. Coverage underwritten by RBC General Insurance Company in the province of Quebec and by RBC Insurance Company of Canada in the rest of Canada. All insurance is subject to limitations and exclusions. Purchase Security Insurance provides coverage for direct accidental physical loss or damage to personal property or gifts that are paid in full on your RBC credit card for 90 days from the date of purchase. Refer to the insurance booklet for complete details.
◊ iPhone, iPod touch and iPad are trademarks of Apple Inc., registered in the U.S and other countries. App Store is a service mark of Apple Inc.
® / ™ Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada.
‡ All other trademarks are the property of their respective owner(s).
51 replies
Deal Addict
Sep 4, 2007
1013 posts
391 upvotes
Edmonton
Thanks OP. Good deal for students with low transaction needs. First good RBC deal I've seen in my many, many years trolling this board.
Deal Addict
User avatar
Feb 28, 2005
2232 posts
406 upvotes
Montreal
Probably a hard credit check too
Koodo & Tangerine customer since 2006
Member
Feb 2, 2008
458 posts
176 upvotes
Montreal, QC
marc_t wrote:
Aug 7th, 2017 11:42 am
Probably a hard credit check too
Is that really a significant concern for a thirteen year old?
Newbie
Jul 9, 2015
75 posts
28 upvotes
marc_t wrote:
Aug 7th, 2017 11:42 am
Probably a hard credit check too
Any idea why hard credit checks are even needed to open Chequing accounts?
Jr. Member
Sep 29, 2013
142 posts
67 upvotes
Brampton, Ontario
Where did you find the "if you're 13 years of age or older.." the website seems to imply that this is for 18+, and that kids between 13-18 must use a leo savings account. Any insight? What age category are your kids in?
Deal Addict
User avatar
Oct 13, 2002
4269 posts
395 upvotes
Toronto
saahiljaffer wrote:
Aug 7th, 2017 1:37 pm
Where did you find the "if you're 13 years of age or older.." the website seems to imply that this is for 18+, and that kids between 13-18 must use a leo savings account. Any insight? What age category are your kids in?
http://www.rbcroyalbank.com/products/de ... nking.html
The basics for students with minimal transactions

If you're 13 years of age or above and a full-time student9, you can bank for free with an RBC Student Banking account. Includes 25 free debits per month6 including withdrawing cash from an RBC Royal Bank® ATM, paying bills or transferring money between your RBC Royal Bank accounts.
'11 DC MLF Iikka Pro
'11 Rome 390 Boss Black
'08 K2 T1
[OP]
Sr. Member
User avatar
Dec 16, 2011
833 posts
603 upvotes
Pointe Claire
Just came back from local RBC. My kids are 13 and 15. Had to show them medicare cards only and tell them school they are enrolled at. (Although they did have their student ids with them). To get the $60 they opened a no fee student chequing account. They have to sign up for online banking and apparently download the rbc app (although I didn't read this anywhere). They are to make a transaction by Oct. 31. $60 will be deposited in 6 to 8 weeks in their accounts. There was no minimum to start account off. In fact accounts were opened without making a deposit in front of anyone. They did it later at the bank machine. I will make them do another deposit and a withdrawal in next few weeks to be on safe side to meet the requirements. Simple process but still took about 45 minutes total for the two of them.
Deal Fanatic
User avatar
Feb 20, 2006
7540 posts
366 upvotes
Canada
Nice

Free email transfers with RBC personal accounts too!!
He died for me, I live for him
Penalty Box
Dec 16, 2013
1458 posts
518 upvotes
Mississauga
dogdayafter12 wrote:
Aug 7th, 2017 2:01 pm
Just came back from local RBC. My kids are 13 and 15. Had to show them medicare cards only and tell them school they are enrolled at. (Although they did have their student ids with them). To get the $60 they opened a no fee student chequing account. They have to sign up for online banking and apparently download the rbc app (although I didn't read this anywhere). They are to make a transaction by Oct. 31. $60 will be deposited in 6 to 8 weeks in their accounts. There was no minimum to start account off. In fact accounts were opened without making a deposit in front of anyone. They did it later at the bank machine. I will make them do another deposit and a withdrawal in next few weeks to be on safe side to meet the requirements. Simple process but still took about 45 minutes total for the two of them.
Sorry, what's the reason behind the deposit and withdrawal?

I'm 23 and this seems like free gas money
[OP]
Sr. Member
User avatar
Dec 16, 2011
833 posts
603 upvotes
Pointe Claire
Ferinthul wrote:
Aug 7th, 2017 2:35 pm
Sorry, what's the reason behind the deposit and withdrawal?

I'm 23 and this seems like free gas money
True. It's one or the other. "make one debit or credit transaction using your new student banking account before October 31, 2017" Not sure if first deposit counts on its own, so kids will make another one just in case.
The legal stuff also says create an online banking account or mobile banking account. We were told (mistakenly) to do both.
Deal Addict
Oct 21, 2015
3034 posts
14839 upvotes
BC, Lower Mainland
rugerty100 wrote:
Aug 7th, 2017 12:00 pm
Usually one can deny the check, like for TD.

I'll give it a try and report back later this week.
how can you deny a check? I thought they have to do it no matter what. Like getting a new phone from Rogers or Telus.

FYI: If you signed up with this, you will not be eligible to get their "Annual Free Items" Promotion.

This year was the Iphone Se and the old apple watch. Last year was a mini Ipad tablet.
Tim Hortons Tip: Buy 3 mini strudels in separate transaction ($0.42 each) and then Redeem Free Coffee(Any Sizes) (Dec 31) 😃

SELLING

GROUP BUY
Xqisit portable banks + usb (Cheap)

Top