Expired Hot Deals

[BMO] Winter 2019 Chequing Account Opening Offer up to $300 cash

  • Last Updated:
  • Jul 26th, 2020 1:50 pm
Member
Jul 6, 2018
416 posts
739 upvotes
I opened a credit card with them, and it was such a shit experience. Complete incompetency from everyone I dealt with. It's not worth the trouble.
Member
Nov 12, 2017
447 posts
329 upvotes
poopooplatter wrote: I opened a credit card with them, and it was such a shit experience. Complete incompetency from everyone I dealt with. It's not worth the trouble.
what was the issue?
Member
Nov 12, 2017
447 posts
329 upvotes
I know some people are complaining, but this is as good as it gets if you can park the $6000. I think after receiving the $300, you can downgrade to one of the other eligible plans, where the Plus plan's minimum amount is only $3000. So if that's the case, compared to a 3% savings account, with 6,000 till July 2019 and then 3,000 till July 2020, you'll have received an excess of approx. $150. And that's tax free. And you get the added benefits of a premium bank account, I for one will be using the free US dollar savings account.
Also, if you can get the World Elite mastercard, that's added value.

If you don't have the $6,000, then I won't recommend.
Sr. Member
Nov 17, 2014
582 posts
604 upvotes
QC
I agree. It's a good deal. I've had the Elite mastercard for close to 1 year and didnt want to pay the fees but liked the card.
This solves it as i get 300$ + free credit card + a good premium account.
Only question is what is accepted as a recurring direct deposit... Any ideas?
krispy4 wrote: I know some people are complaining, but this is as good as it gets if you can park the $6000. I think after receiving the $300, you can downgrade to one of the other eligible plans, where the Plus plan's minimum amount is only $3000. So if that's the case, compared to a 3% savings account, with 6,000 till July 2019 and then 3,000 till July 2020, you'll have received an excess of approx. $150. And that's tax free. And you get the added benefits of a premium bank account, I for one will be using the free US dollar savings account.
Also, if you can get the World Elite mastercard, that's added value.

If you don't have the $6,000, then I won't recommend.
Member
Nov 12, 2017
447 posts
329 upvotes
zewill wrote: I agree. It's a good deal. I've had the Elite mastercard for close to 1 year and didnt want to pay the fees but liked the card.
This solves it as i get 300$ + free credit card + a good premium account.
Only question is what is accepted as a recurring direct deposit... Any ideas?
If you haven't filed your taxes yet, you can do a direct deposit with CRA. Since only one deposit is required before end of May.
Jr. Member
Oct 17, 2015
155 posts
187 upvotes
Toronto
not worth the hassle for 300$ to keep 6000$ for year and half.
Deal Addict
Dec 25, 2017
1973 posts
1413 upvotes
krispy4 wrote: If you haven't filed your taxes yet, you can do a direct deposit with CRA. Since only one deposit is required before end of May.
I recommend asking beforehand. I got away with tax refund with the BC credit union offer but not everyone will let you. They get deposited with a specific payment code (317) which indicates it’s a tax refund.

Anyone else know where I can sign up for an account and get paid without keeping the account open for an extremely long time? Simplii won’t do it because I’m trying to deposit WCB benefits in. Don’t want Tangerine because might not last three months..
Member
Nov 12, 2017
447 posts
329 upvotes
IEpicDestroyer wrote: I recommend asking beforehand. I got away with tax refund with the BC credit union offer but not everyone will let you. They get deposited with a specific payment code (317) which indicates it’s a tax refund.

Anyone else know where I can sign up for an account and get paid without keeping the account open for an extremely long time? Simplii won’t do it because I’m trying to deposit WCB benefits in. Don’t want Tangerine because might not last three months..
Tangerine is the best option because you can get up to $200 while using pre-authorized payments. If only they allowed PAPs to other financial accounts.
Deal Addict
Dec 25, 2017
1973 posts
1413 upvotes
krispy4 wrote: Tangerine is the best option because you can get up to $200 while using pre-authorized payments. If only they allowed PAPs to other financial accounts.
PADs... I'll think about it, I prefer just letting automatic deposits go in. Any offers that will accept WCB (payment code 606) as a qualifying direct deposit?
Deal Fanatic
Aug 5, 2006
5464 posts
2657 upvotes
Global Village
I am reconsidering this BMO offer now that savings/GIC rates are tanking, 1 of the things they are advertising for the Premier account above and beyond the $300 bonus is a 3.25% savings rate for 90 days and that makes this more tempting for me.
All day I dream about sports
Penalty Box
Oct 18, 2018
1873 posts
874 upvotes
scoper wrote: I am reconsidering this BMO offer now that savings/GIC rates are tanking, 1 of the things they are advertising for the Premier account above and beyond the $300 bonus is a 3.25% savings rate for 90 days and that makes this more tempting for me.
Is this chqn account is having 3.25% savings rate for 3 months?
Member
User avatar
Feb 28, 2017
335 posts
615 upvotes
Simplii Financial is also offering $200 for new sign ups
I cant tell if im addicted to RFD or good deals
Sr. Member
Feb 17, 2015
914 posts
328 upvotes
Windsor, ON
I have the BMO bank unlimited promo...so at a time they were basically offering a free Chequeing account plus AF waived off any premium CC , however I can't cancel it to get this promo or I lose way more than 300 in a year lol...however TD could be my next victim again once their promo goes back up, just got Scotia cancelled after fighting with them for months to get theirs and RBC I am stuck with for 6 more months so they don't claw back the ipad
Deal Addict
User avatar
Jan 22, 2008
3695 posts
979 upvotes
Calgary
I opened with account since I re-applied for the BMO World Elite card.

On the terms, it says, I just need direct deposit setup and one deposit should occur before end of May.

I already setup my payroll to be deposited there in two weeks and I thought that's enough. But the teller at BMO was insisting I also need another pre-authorized payments coming out of the account like bills. I didn't see this on the terms. Did I misunderstand it or the rep was bullshitting me?
Deal Fanatic
Aug 5, 2006
5464 posts
2657 upvotes
Global Village
Ridinginoffice7 wrote: Is this chqn account is having 3.25% savings rate for 3 months?
No, a week after you open the premier chequing account you are supposed to get an email invite to open a savings account with the 3.25% 90 day offer.
All day I dream about sports

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