[BMO] InvestorLine - Get cash up to $2,000 when you invest in a new Self-Directed account

Nov 5th, 2020 9:13 am

#1

01-digital [OP]: Member; May 1, 2005; 265 posts; 28 upvotes; Toronto

Nov 5th, 2020 9:13 am

[BMO] InvestorLine - Get cash up to $2,000 when you invest in a new Self-Directed account

Deal Link:: https://www.bmoinvestorline.com/selfDir ... 2000_e.pdf
Price:: 2000
Expiry:: January 5, 2021
Retailer:: BMO

NEW CLIENTS ONLY

Invest more, earn more!
Get cash up to $2,000 when you invest in a new Self-Directed account.

Offer tiers table
You invest <=> You get:
$50,000 - $99,999 <=> $100
$100,000 - $249,999 <=> $250
$250,000 - $499,999 <=> $450
$500,000 - $999,999 <=> $950
$1,000,000+ <=> $2,000

Use Promo Code: SDCASH2000

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Nov 5th, 2020 9:19 am

#2

Hangryhippo: Jr. Member; Aug 17, 2019; 136 posts; 212 upvotes; GTA

Nov 5th, 2020 9:19 am

Is having $1M handy to invest another RFDer trait?
In addition to deadlifting over 1000lbs and some other generalization I can’t remember?

+9

Nov 5th, 2020 9:40 am

#3

gameon12: Deal Addict; May 7, 2012; 1096 posts; 513 upvotes

Nov 5th, 2020 9:40 am

Hangryhippo wrote: ↑ Is having $1M handy to invest another RFDer trait?
In addition to deadlifting over 1000lbs and some other generalization I can’t remember?

Yes that's the idea of being in RFD, paying attention and following good advice. Enjoy!

Nov 5th, 2020 9:41 am

#4

AstonM: Deal Addict; Aug 4, 2006; 3272 posts; 2030 upvotes; Toronto

Nov 5th, 2020 9:41 am

Hangryhippo wrote: ↑ Is having $1M handy to invest another RFDer trait?
In addition to deadlifting over 1000lbs and some other generalization I can’t remember?

I remember the good ol days when it was just making over $100k/year

+8

Nov 5th, 2020 9:43 am

#5

Arkaine: Deal Addict; Jun 15, 2005; 1872 posts; 1619 upvotes

Nov 5th, 2020 9:43 am

Hangryhippo wrote: ↑ Is having $1M handy to invest another RFDer trait?
In addition to deadlifting over 1000lbs and some other generalization I can’t remember?

All RFDers make over $100k, have their RRSP and TFSA maxed, plus have million dollar homes with almost no mortgage.

+8

Nov 5th, 2020 9:47 am

#6

scottmg: Sr. Member; May 17, 2017; 980 posts; 2386 upvotes

Nov 5th, 2020 9:47 am

Arkaine wrote: ↑ All RFDers make over $100k, have their RRSP and TFSA maxed, plus have million dollar homes with almost no mortgage.

you forgot about driving ancient beige toyota corollas

My phone plan is $400 a month for 500 MB of data.
My internet plan is $199.99 for capped internet and slow speeds.
My credit cards are the ones with annual fees but terrible rewards.
Did I RFD correctly?

+6

Nov 5th, 2020 9:48 am

#7

thegraduate112: Member; Dec 23, 2010; 314 posts; 517 upvotes; Toronto

Nov 5th, 2020 9:48 am

LOLOLOL

Nov 5th, 2020 9:55 am

#8

Windyt: Member; Apr 11, 2020; 278 posts; 489 upvotes

Nov 5th, 2020 9:55 am

Arkaine wrote: ↑ All RFDers make over $100k, have their RRSP and TFSA maxed, plus have million dollar homes with almost no mortgage.

I thought the opposite, that all rfers make 50k/yr, spend $100/mo on groceries, and pay net zero for all their purchases after factoring points, discounts, and resale to breakeven.

+1

Nov 5th, 2020 12:33 pm

#9

scottmg: Sr. Member; May 17, 2017; 980 posts; 2386 upvotes

Nov 5th, 2020 12:33 pm

Windyt wrote: ↑ I thought the opposite, that all rfers make 50k/yr, spend $100/mo on groceries, and pay net zero for all their purchases after factoring points, discounts, and resale to breakeven.

Crap, we forgot about how proud RFDers are about their cell phone plans, that they mention them in their signatures

My phone plan is $400 a month for 500 MB of data.
My internet plan is $199.99 for capped internet and slow speeds.
My credit cards are the ones with annual fees but terrible rewards.
Did I RFD correctly?

+6

Nov 5th, 2020 1:15 pm

#10

Quentin5: Deal Expert; Feb 8, 2014; 24332 posts; 9725 upvotes; Socially Distanced

Nov 5th, 2020 1:15 pm

Hangryhippo wrote: ↑Is having $1M handy to invest another RFDer trait?
In addition to deadlifting over 1000lbs and some other generalization I can’t remember?

AstonM wrote: ↑ I remember the good ol days when it was just making over $100k/year

Arkaine wrote: ↑ All RFDers make over $100k, have their RRSP and TFSA maxed, plus have million dollar homes with almost no mortgage.

scottmg wrote: ↑ you forgot about driving ancient beige toyota corollas

All the basic RFD lore in one post.

In fact in Rand McNally they wear hats on their feet and hamburgers eat people

+2

Nov 5th, 2020 1:24 pm

#11

cheaper_than_cheap: Deal Addict; Dec 20, 2007; 3116 posts; 3138 upvotes; Prince George

Nov 5th, 2020 1:24 pm

As with all of the investment / brokerage deals posted here with free iPads, cash bonuses or whatever ... nobody expects you to have bundles of cash under your mattress just waiting to invest. These deals are targeted at people who have some savings with a different institution, encouraging them to move those existing savings over.

If you have zero existing savings then these deals are not for you, and making jokes about it isn’t helpful. (And you should probably take some time to evaluate your financial planning lol)

+3

Nov 5th, 2020 1:51 pm

#12

islander59: Sr. Member; Dec 5, 2011; 880 posts; 894 upvotes

Nov 5th, 2020 1:51 pm

After reading the fine print, this deal looks pretty cold. They don't even offer to cover transfer fees. Most places will at least cover $135-$150.

You may only have one (1) Promotion Account.

Deposits that are split across more than one account will not be considered for eligibility when calculating
whether you meet the net new asset minimum threshold (for example, $50K in a RRSP and $50K in a Nonregistered account cannot be combined to reach the $100K threshold).

I'll pass on this one.

+2

Nov 5th, 2020 3:13 pm

#13

choclover: Deal Fanatic; Oct 7, 2007; 9078 posts; 4948 upvotes

Nov 5th, 2020 3:13 pm

Does the offer stipulate "new clients only"? BMO routinely has these kinds of offers and usually existing clients qualify as long as they fund the account in accordance with the rules of the promotion. I skimmed the fine print but did not see this stipulated.

+1

Nov 5th, 2020 9:36 pm

#14

FunnyGamer: Sr. Member; Jun 17, 2018; 518 posts; 979 upvotes

Nov 5th, 2020 9:36 pm

Let's fix the title:

BMO InvestorLine - Get cash ~ 0.2% when you invest at least $50,000 in a new Self-Directed account

I know interest rates are near zero but isn't it still possible to do better than this in a savings account of some sort?

+2

Nov 5th, 2020 9:38 pm

#15

FunnyGamer: Sr. Member; Jun 17, 2018; 518 posts; 979 upvotes

Nov 5th, 2020 9:38 pm

FunnyGamer wrote: ↑ Let's fix the title:

BMO InvestorLine - Get cash ~ 0.2% when you invest at least $50,000 in a new Self-Directed account

I know interest rates are near zero but isn't it still possible to do better than this in a savings account of some sort?

Such as BMO's own Savings Builder: https://www.bmo.com/main/personal/bank- ... s-builder/

+1

Nov 6th, 2020 2:01 am

#16

cheaper_than_cheap: Deal Addict; Dec 20, 2007; 3116 posts; 3138 upvotes; Prince George

Nov 6th, 2020 2:01 am

FunnyGamer wrote: ↑ Let's fix the title:

BMO InvestorLine - Get cash ~ 0.2% when you invest at least $50,000 in a new Self-Directed account

I know interest rates are near zero but isn't it still possible to do better than this in a savings account of some sort?

The “deal” is a cash bonus on top of whatever regular interest / income you’re already getting.

Whatever returns that money is getting where it is now... stock dividends/capital gains, mutual fund dividends/interest, GIC interest, whatever... you would continue to get the exact same returns when those investments are managed by a different company. (Assuming you transfer securities “in kind”. If you sell first and transfer cash, then returns on whatever you buy instead could be higher or lower.)

But it doesn’t sound all that great anyway, if it’s true that they don’t cover transfer fees.

+1

Nov 6th, 2020 2:05 am

#17

blurx: Sr. Member; Dec 11, 2010; 677 posts; 518 upvotes

Nov 6th, 2020 2:05 am

Go with IBKR and don’t look back.

You'll Never Walk Alone.

Nov 6th, 2020 1:15 pm

#18

choclover: Deal Fanatic; Oct 7, 2007; 9078 posts; 4948 upvotes

Nov 6th, 2020 1:15 pm

blurx wrote: ↑ Go with IBKR and don’t look back.

IBKR? Interactive Brokers??

+2

Nov 6th, 2020 1:21 pm

#19

starbuckscoffee: Member; Dec 12, 2009; 439 posts; 291 upvotes

Nov 6th, 2020 1:21 pm

cheaper_than_cheap wrote: ↑ The “deal” is a cash bonus on top of whatever regular interest / income you’re already getting.

Whatever returns that money is getting where it is now... stock dividends/capital gains, mutual fund dividends/interest, GIC interest, whatever... you would continue to get the exact same returns when those investments are managed by a different company. (Assuming you transfer securities “in kind”. If you sell first and transfer cash, then returns on whatever you buy instead could be higher or lower.)

But it doesn’t sound all that great anyway, if it’s true that they don’t cover transfer fees.

Also bonus money is tax free.

+1

Nov 18th, 2020 7:58 pm

#20

Darkman: Banned; May 7, 2007; 13912 posts; 5701 upvotes

Nov 18th, 2020 7:58 pm

" $100,000 - $249,999 <=> $250 "

Kinda nasty ... the standard for promo $100K - $250K .... is generally $400

InvestorLine - Get cash up to $2,000 when you invest in a new Self-Directed account

[BMO] InvestorLine - Get cash up to $2,000 when you invest in a new Self-Directed account

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