Expired Hot Deals

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

  • Last Updated:
  • Sep 21st, 2017 9:36 am
Deal Addict
Oct 21, 2015
3041 posts
14840 upvotes
BC, Lower Mainland
shannn wrote:
Aug 7th, 2017 2:32 pm
Nice

Free email transfers with RBC personal accounts too!!
Free E-transfer to any banks? I get $1.50 charge at my local Coast Capital Union Bank.

Coast Capital Union offers $200 credits if you signed up with them.
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Oct 12, 2008
306 posts
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Markham
Thatdealguy wrote:
Aug 7th, 2017 4:06 pm
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.
They do it for getting a new phone because they're effectively offering you a loan (for the phone) which you pay back through using their service.

Banks do it because they want to upsell you credit products (like overdraft protection, credit cards, mortgages and etc.), but there's no obligation for you to take their hard credit check (unless you apply to open an account online, in which case a hard check is done automatically). Banks are required, by law, to let you open bank accounts as long as you don't fit a very narrow list of valid refusal reasons (which have absolutely nothing to do with your credit).

If you're going to apply for credit cards or any type of loan, always open the account in branch and ask them explicitly to not run a hard inquiry on you.
Deal Addict
Oct 21, 2015
3041 posts
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BC, Lower Mainland
Dave510 wrote:
Aug 7th, 2017 4:59 pm
They do it for getting a new phone because they're effectively offering you a loan (for the phone) which you pay back through using their service.

Banks do it because they want to upsell you credit products (like overdraft protection, credit cards, mortgages and etc.), but there's no obligation for you to take their hard credit check (unless you apply to open an account online, in which case a hard check is done automatically). Banks are required, by law, to let you open bank accounts as long as you don't fit a very narrow list of valid refusal reasons (which have absolutely nothing to do with your credit).

If you're going to apply for credit cards or any type of loan, always open the account in branch and ask them explicitly to not run a hard inquiry on you.
Thanks for your detailed information! I never knew about that. The overdraft seems like a good product. They always said it is free and I always add it because I got charged several times for withdrawing more than what I have.
Tim Hortons Tip: Buy 3 mini strudels in separate transaction ($0.42 each) and then Redeem Free Coffee(Any Sizes) (Dec 31) 😃

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Jan 16, 2016
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Hamilton, ON
Thatdealguy wrote:
Aug 7th, 2017 4:06 pm
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.
*while account rep is inputting your personal information into their system* "... and I don't want any credit check when you open this account"
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Oct 21, 2015
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When I first joined RFD, I learned how to save some money. After a while, I got a disease called RFD Effect. Spent too much money on things that I don't need.
Tim Hortons Tip: Buy 3 mini strudels in separate transaction ($0.42 each) and then Redeem Free Coffee(Any Sizes) (Dec 31) 😃

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Feb 20, 2006
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Canada
Thatdealguy wrote:
Aug 7th, 2017 4:07 pm
Free E-transfer to any banks? I get $1.50 charge at my local Coast Capital Union Bank.

Coast Capital Union offers $200 credits if you signed up with them.
Yup! Free interac e-transfers (not like the bank to bank transfers like tangerine).
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Oct 15, 2015
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Montreal, QC
For full time students only but it's a decent deal, no fee bank account and $60
Jr. Member
Apr 29, 2016
169 posts
43 upvotes
Alekxqin wrote:
Aug 9th, 2017 12:07 am
For full time students only but it's a decent deal, no fee bank account and $60
Then if you're college or university student,
  1. Open a free TFSA
  2. Get an RBC visa credit card
  3. Setup the TFSA to transfer $25 every month
  4. Switch your student account to the RBC No Limit Banking for Students

Result: No annual credit card fee and unlimited free banking.

Bonus: You can transfer the $25 back every month along as you keep $5 in your TFSA so they don't close it.
Sr. Member
Mar 1, 2010
718 posts
186 upvotes
what's the minimal balance should I keep to avoid monthly fee if I am not a student in the future? For this promotion, how long should I keep with RBC?

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