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[Royal Bank] RBC new chequing account promotion - Apple Watch or $79 iPhone Se

[OP]
Newbie
May 3, 2017
2 posts
11 upvotes

[Royal Bank] RBC new chequing account promotion - Apple Watch or $79 iPhone Se

Was offered this yesterday but only found link today. For new accounts of their $14.95 a month or $30 a month accounts.

Apple Watch Series 1, with your choice of size & colour:
MNNG2CL/A, MNNJ2CL/A, MNNH2CL/A, MP022CL/A, MNNL2CL/A, MNNN2CL/A, MNNM2CL/A, MP032CL/A

Unlocked 16GB iPhone SE, with your choice of colour, for $79:
MLLP2VC/A, MLXM2VC/A, MLLN2VC/A, MLXN2VC/A
110 replies
Sr. Member
Nov 28, 2013
539 posts
196 upvotes
Quebec
Not sure I read correctly but 14.95$ per month and you have to stay there for a bit

You don't save that much vs just buying the watch

And iirc the first version of the watch is isn't that good
Newbie
Jul 27, 2016
20 posts
10 upvotes
Thanks OP. Pretty nice deal, but just a note to anyone considering this that you will have to stay with RBC for over a year...

Digging through the Terms and Conditions I found this:
If you received the Reward and then downgraded, changed or closed your Eligible Personal Banking Account or undid any of the Qualifying Criteria you performed to get the Reward, such as cancelled any payroll/pension deposit or pre-authorized payment, at any time before September 29 2018, we reserve the right to debit your Eligible Personal Banking Account or any of your accounts for the value of the Reward you selected (less any amount paid when you selected the Reward) as described in the table below, plus applicable taxes, even if this places you into overdraft. If your Eligible Personal Banking Account is closed and you do not have any other account with us at that time, we will send you an invoice for the value of the Reward you selected, as described in the table below plus applicable taxes, which you agree to pay in 30 days.

Reward Model Value
(after any initial payment)
Apple Watch Series 1 - 38mm Case Size MNNG2CL/A,
MNNJ2CL/A,
MNNH2CL/A,
MP022CL/A $ 359.00

Apple Watch Series 1 - 42mm Case Size MNNL2CL/A,
MNNN2CL/A,
MNNM2CL/A,
MP032CL/A $ 399.00

iPhone SE (16 GB) – unlocked (initial payment of $79 required at the time this Reward is selected) MLLP2VC/A,
MLXM2VC/A,
MLLN2VC/A,
MLXN2VC/A $ 500.00
Member
Dec 25, 2013
345 posts
135 upvotes
Toronto
I don't see a way to waive the charges like there usually is.. is anybody else seeing that/ is that correct?
Member
May 19, 2012
205 posts
48 upvotes
Toronto
How long should I keep the account?
Sr. Member
User avatar
Jan 28, 2004
523 posts
187 upvotes
Might as well buy the Apple Watch straight out and you will save even more than be locked in with RBC with the scam fees
Deal Addict
User avatar
May 22, 2006
1412 posts
119 upvotes
Toronto
I know TD and BMO (likely others too) waive monthly fees if you keep a certain amount in the account. RBC never did that and it doesn't seem they do now.
Sr. Member
Mar 6, 2010
614 posts
50 upvotes
Same Apple Watch is frequently on sale in US Target for 199USD. Combine with red card and in store coupon( sometimes), you have the deal
Member
May 19, 2012
205 posts
48 upvotes
Toronto
Thatdealguy wrote:
May 4th, 2017 12:39 pm
Can only cancel after September 28 2018.
So have to be with them for 16 months.

$14.95 x 16 months = $239.20
. In that case, I would open an account on August 30,2017 to make a shorter term.
[OP]
Newbie
May 3, 2017
2 posts
11 upvotes
Yah, this is a bit more interesting if you happen to be new to canada. Their $14.95 account is then free for 6 months.

Also, does anybody actually have an Apple Watch and can recommend it? I'm not even sure if i'd keep mine or pawn it on Kijiji
Deal Addict
User avatar
Sep 4, 2007
2772 posts
1113 upvotes
Canada
hermit1988 wrote:
May 4th, 2017 12:41 pm
Same Apple Watch is frequently on sale in US Target for 199USD. Combine with red card and in store coupon( sometimes), you have the deal
Well, you also get the account with free transactions, money orders, interact transfers, etc. Worth something...
Member
Feb 22, 2009
216 posts
185 upvotes
Whitby
may as well offer you a box. (simpsons) banks are so shady.
Deal Addict
User avatar
Mar 26, 2011
2434 posts
563 upvotes
Toronto, ON
Ychanceit wrote:
May 4th, 2017 12:35 pm
I don't see a way to waive the charges like there usually is.. is anybody else seeing that/ is that correct?
I have all my accts with RBC, they definitely do NOT waive your fees despite maintaining a balance.

I'm finally making the switch to TD. I just stayed with RBC because I was lazy. TD's $30/ mo plan fee gets waived when your balance is over $5000, which is great as it comes with a tonne of "free" stuff like drafts, waiving your VISA annual fee, small safety deposit box and etc...

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