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Get $200-$750 cash back when you invest with BMO InvestorLine

  • Last Updated:
  • Jun 10th, 2017 5:14 am
Deal Addict
Feb 26, 2008
1821 posts
1285 upvotes
bkushner wrote: It looks like the CIBC account has to be kept for a year. I think the BMO one is shorter. I may move $300 000 to BMO and $100 000 to CIBC and take the 1150$ . Seems worth it for that. I have TD e series funds which I would have to sell, but I was looking at converting them to Mawer funds anyways. I am assuming I can buy Mawer funds from BMO and CIBC but I will check on that.

The CIBC deal has two components:

1) A bonus for transferring cash/securities of $200 for $50k, or $400 for $100k. According to section 9 of their terms and conditions, assets must be left at CIBC for six months; and

2) An additional bonus of 50 free trades for people who meet the cash/securities transfer requirement PLUS establish a Regular Investment Plan. According to clause 4(d)(ii) the Regular Investment Plan needs to remain active for 12 months to qualify for the 50 free trades.


The bonus for transferring securities is pretty good, but the regular investment plan looks like it would be a real nuisance to set up and then later cancel. I'd consider taking the first bonus, but I'd probably skip the free trades.
Deal Fanatic
User avatar
Jul 22, 2007
9451 posts
11815 upvotes
Calgary
kneevase wrote: The CIBC deal has two components:

1) A bonus for transferring cash/securities of $200 for $50k, or $400 for $100k. According to section 9 of their terms and conditions, assets must be left at CIBC for six months; and

2) An additional bonus of 50 free trades for people who meet the cash/securities transfer requirement PLUS establish a Regular Investment Plan. According to clause 4(d)(ii) the Regular Investment Plan needs to remain active for 12 months to qualify for the 50 free trades.


The bonus for transferring securities is pretty good, but the regular investment plan looks like it would be a real nuisance to set up and then later cancel. I'd consider taking the first bonus, but I'd probably skip the free trades.
Thanks for that. I am checking with a friend at Mawer if they offer anything like this. I doubt they do so I may end up doing CIBC and BMO.
Deal Addict
Feb 26, 2008
1821 posts
1285 upvotes
bkushner wrote: https://www.tdcanadatrust.com/products- ... 1-7083-TNT

TD is offering 300$ for 100 000$ investment

This one is interesting. You can get the $300 bonus for investing $100k in a one-year non-cashable GIC, which isn't too interesting. Or you can get the $300 bonus for investing $100k in a TD mutual fund, but only if you also set up a pre-authorized purchase plan and keep it operating untl March.

So, the time period is short, but you can't just transfer in existing securities (ie, you need to buy a TD fund which could possibly trigger a capital gain on the disposal of your existing securites) and you need to set up and then cancel a pre-authorized purchase plan which would be a nuisance.

I probably will take a pass on TD's offer as the rules are too restrictive for me.

Thanks for digging it out and posting.
Deal Addict
User avatar
Jan 4, 2009
4191 posts
5293 upvotes
on the links!
john2922222 wrote: CIBC Investor's Edge also has a promo on now, $200 for $50k transfer in or $400 for $100k transfer in (plus can also get 50 free trades, good for 60 days, if you set up regular contributions to the account). Promo ends March 31, 2017.

https://www.cibc.com/ca/features/diy-investing.html
The way I read their T&C, they will not cover any transfer out fees. So factor approx $150 additional fee (most FIs charge this for tranfering) into your overall bonus.
Newbie
Feb 21, 2013
23 posts
4 upvotes
https://www.td.com/ca/products-services ... rading.jsp

Open a New Account with assets of: Trade Commission Rebates:
$25,000 - $49,999 Up to 50 trades to a maximum value of $500
$50,000 - $99,999 Up to 100 trades to a maximum value of $1,000
$100,000+ Up to 200 trades to a maximum value of $2,000

up to 2k for trades if some people are doing trading mostly.
Newbie
Feb 27, 2015
95 posts
40 upvotes
Newcastle, ON
Sauerkraut wrote: The way I read their T&C, they will not cover any transfer out fees. So factor approx $150 additional fee (most FIs charge this for tranfering) into your overall bonus.
Did it mention that specifically, or you mean because of the generic not combine-able with other offers? Normally they would cover up to $135 but yes I guess this may be an important factor if they do not cover it when using this offer.

https://www.cibc.com/ca/features/gbo/investments.html
Deal Addict
Nov 25, 2002
1048 posts
317 upvotes
Brampton
john2922222 wrote: Did it mention that specifically, or you mean because of the generic not combine-able with other offers? Normally they would cover up to $135 but yes I guess this may be an important factor if they do not cover it when using this offer.

https://www.cibc.com/ca/features/gbo/investments.html
I called CIBC, and they confirmed they would cover the transfer-out fee even if you sign up under this offer.

I'm considering doing the CIBC and BMO deals.
Deal Fanatic
User avatar
Jul 22, 2007
9451 posts
11815 upvotes
Calgary
nabeel wrote: I called CIBC, and they confirmed they would cover the transfer-out fee even if you sign up under this offer.

I'm considering doing the CIBC and BMO deals.
let me know how it goes, The HSBC offer looks interesting too.
Deal Addict
Dec 14, 2008
3161 posts
3308 upvotes
When you transfer from one bank to another, does that count as an "transaction" in CRA point of view? ie. If this was not RRSP or TFSA, will I have to pay capital gains after this transfer? (or realize a capital loss).
Deal Addict
Nov 25, 2002
1048 posts
317 upvotes
Brampton
slimysnot wrote: When you transfer from one bank to another, does that count as an "transaction" in CRA point of view? ie. If this was not RRSP or TFSA, will I have to pay capital gains after this transfer? (or realize a capital loss).
No, you can transfer in kind.
Deal Addict
Oct 12, 2006
1451 posts
302 upvotes
Markham
kneevase wrote: The CIBC deal has two components:

1) A bonus for transferring cash/securities of $200 for $50k, or $400 for $100k. According to section 9 of their terms and conditions, assets must be left at CIBC for six months; and

2) An additional bonus of 50 free trades for people who meet the cash/securities transfer requirement PLUS establish a Regular Investment Plan. According to clause 4(d)(ii) the Regular Investment Plan needs to remain active for 12 months to qualify for the 50 free trades.


The bonus for transferring securities is pretty good, but the regular investment plan looks like it would be a real nuisance to set up and then later cancel. I'd consider taking the first bonus, but I'd probably skip the free trades.
HSBC offers $1200 for $100k. Mind you, you have to keep the money there for a year: http://www.hsbc.ca/1/2/personal/investi ... r-in-bonus
Deal Addict
Nov 25, 2002
1048 posts
317 upvotes
Brampton
enigma0t2 wrote: HSBC offers $1200 for $100k. Mind you, you have to keep the money there for a year: http://www.hsbc.ca/1/2/personal/investi ... r-in-bonus
Yes, but it seems they expect you to transfer in to their expensive mutual funds (similar to the TD deal), which could cost more than $1200 over the year compared to a similar ETF portfolio.

The CIBC and BMO deals are interesting for index ETF investors or long-term stock investors, because you can transfer you ETFs/stocks in kind and then transfer them back to your brokerage of choice after the promo period, allowing you to collect the bonus at no monetary cost and without affecting your portfolio in any way.
Deal Addict
Feb 26, 2008
1821 posts
1285 upvotes
enigma0t2 wrote: HSBC offers $1200 for $100k. Mind you, you have to keep the money there for a year: http://www.hsbc.ca/1/2/personal/investi ... r-in-bonus

Has anybody figured out whether there's fee-free way exploit the HSBC offer? I don't want to use their mutual fund account because the $1,200 bonus on $100k would likely be quickly eaten up by the MER on their mutual fund during the year that you are obliged to leave the money there. Similarly the World Selection Portfolio looks like it has hefty fees.
Deal Addict
Dec 20, 2007
4713 posts
6306 upvotes
Prince George
Love all the downvotes from people who have no clue how these sorts of offers work. Same thing every time it comes up.
Member
Mar 28, 2016
460 posts
199 upvotes
Calgary, Alberta, Ca…
I did this deal with BMO Investorline and got $400 bonus out of it two years ago. After that I moved the funds back to RBC Directinvesting. This literally is just filling out forms and get the bonus. You can move the funds back to your original broker or keep it with BMO.

I'll do this deal again this time if BMO investorline allows me to double dip on the bonus. Mind you that those dealing with the bank such as CIBC or HSBC, you have to invest in Mutual Funds with high management fees. Only do these kind of deals with the investor arms of the bank and you earn those bonuses just by filling out forms.
Newbie
May 8, 2008
79 posts
32 upvotes
newpass15 wrote: https://www.td.com/ca/products-services ... rading.jsp

Open a New Account with assets of: Trade Commission Rebates:
$25,000 - $49,999 Up to 50 trades to a maximum value of $500
$50,000 - $99,999 Up to 100 trades to a maximum value of $1,000
$100,000+ Up to 200 trades to a maximum value of $2,000

up to 2k for trades if some people are doing trading mostly.
Is the rebates (up to $2000) taxable income if this is in a cash account (non-registered)?
Member
Mar 28, 2016
460 posts
199 upvotes
Calgary, Alberta, Ca…
Easyjob wrote: Is the rebates (up to $2000) taxable income if this is in a cash account (non-registered)?
I don't think the rebate is taxable income. I've had these before and the rebate was not reported on the T forms.
Member
May 11, 2015
241 posts
133 upvotes
Toronto
Does BMO have a USD investing section? Most of my liquid cash is in USD, and if so would they offer the same promo on proportional USD transfer instead of CAD?
Deal Fanatic
User avatar
Jan 19, 2005
5203 posts
2486 upvotes
Vancity
For BMO, I got an offer in the email. The conditions:
>= $250k, < $500k = $750
>= $500k, < $2M = $1600
>= $2M = $2700.

Terms here: https://www.bmoinvestorline.com/selfDir ... t2700E.pdf

It was a long-time ago when I transferred an RRSP into RBC DI (during their 1% promo), but I can't remember how the transfer-out fees are paid and whether the bonus paid is considered an RRSP contribution. I know most firms cover the transfer-out fees for a significant transfer. Does this happen transparently without using cash in the account. I know I can call them up (and be placed on-hold for ages) for this type of info., but I thought I ask here first.
signature closed for renovation
Newbie
Aug 20, 2016
53 posts
32 upvotes
TalentedTom wrote: Does BMO have a USD investing section? Most of my liquid cash is in USD, and if so would they offer the same promo on proportional USD transfer instead of CAD?
I know they have USD non registered accounts. I wouldn't recommend opening short margin accounts though, there is something glaringly wrong with their accounting system when calculating margin interest.

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