Expired Hot Deals

[National Bank] Up to $300 for a new Chequing account

  • Last Updated:
  • Jun 25th, 2020 9:39 pm
Member
Mar 2, 2016
271 posts
348 upvotes
Toronto
Don't do it. It's not worth it. This bank is a nightmare to deal with.
Public Mobile|Fido|Tangerine|EQ|AMEX|Plastiq|Paytm|eBates|TopCashBack|Mr. Rebates|Great Canadian Rebates|RocketMiles
Carrot|AwardWallet|Skiplagged|uber|Lyft|airBNB|uberEats|DoorDash|Skip the Dishes|Foodora|Ritual
Deal Addict
Nov 21, 2013
4593 posts
2989 upvotes
sports1 wrote: Problem is with what NBC is offering, not you.

I say this as someone who did the previous promo in Oct 2017, similar requirements for $300.. except the monthly fee was half as steep, and the min balance was $3000. I got the $300 easily though, that was the upside.

They will hard pull you if you open a Savings account, and no there's no way to decline that credit check even if you ask (I dealt with the branch manager and she seemed f**king clueless on exactly what a "hard pull" was - considering she told me I wouldn't get marked on my report, and then the same day *I got hard pulled*.)

$300 for $6k is a 5% return. At $25.95/month account fee, that's ~$311/yearly - more than what they're giving back to you. For reference, TD's $300 offer requires you to open a chequing account with a $15.95/month account fee. https://www.td.com/ca/en/personal-banki ... -accounts/. That's ~$191/ yearly, wavied with a $4k min balance. The features of the account don't matter since I assume people aren't exactly looking to bank long term with the bank (NBC, TD, etc.) after hitting the promo. And, even if it does, what TD is offering is adequate for your average person (Unlimited Chequing account).

Overall I'd avoid this, unless you were looking to bank with NBC anyways... in which case this would just be icing ontop.
5% return is not bad! And, if you take into consideration their MasterCard World Elite ($150/year, waived1st year) wich allows you a $250/year refund on travel fees like airport parking, bags fees, seats selection so first year 300+ 250 = 550 ON A $6K sleeping there = 9% return. The following years $150 (card fees) + $250 (travel fees) $400 on a $6K sleeping there = 6.5% return. And this is not taking into consideration other (very small) perks that the account offers.
Member
Oct 7, 2015
479 posts
422 upvotes
Vanier, ON
DoorCrasher wrote: so, it took you three months to notice? you really do not check your statement every month in case of errors, fraud or anything?
Yeah...I was under the impression that since I had absolutely zero activity with that account other than leaving the money there, I didn't have to check it monthly.
I was wrong.
Deal Addict
Nov 21, 2013
4593 posts
2989 upvotes
x8ssJoe wrote: Yeah...I was under the impression that since I had absolutely zero activity with that account other than leaving the money there, I didn't have to check it monthly.
I was wrong.
Obviouslywrong, and this is just talking about fraud... Ho well, lesson learned, I guess
Member
Oct 7, 2015
479 posts
422 upvotes
Vanier, ON
DoorCrasher wrote: Obviouslywrong, and this is just talking about fraud... Ho well, lesson learned, I guess
Yep, lesson learned. Still made $200 after all, not too bad, could be better.
Deal Addict
Nov 21, 2013
4593 posts
2989 upvotes
x8ssJoe wrote: Yep, lesson learned. Still made $200 after all, not too bad, could be better.
Yes, $200 is good considering what happened ;)
Member
Mar 26, 2012
318 posts
156 upvotes
Natasha321 wrote: I posted this thread with all good intentions, but looking at the down votes, I think I made a mistake.
YOu had good intention all right. The downvotes were not against u personally, but against the NBC promotion. But, many here got the similar promotion ($300 to open a bank acct and $100 for a new credit card) last August or Sept, and had bad experiences. I found the customers service at my local NBC branch bad, and I had to wait about 45 minutes last week to talk a live person to cancel my NBC credit card.
[OP]
Member
Nov 24, 2015
330 posts
205 upvotes
Toronto, ON
fkungery wrote: YOu had good intention all right. The downvotes were not against u personally, but against the NBC promotion. But, many here got the similar promotion ($300 to open a bank acct and $100 for a new credit card) last August or Sept, and had bad experiences. I found the customers service at my local NBC branch bad, and I had to wait about 45 minutes last week to talk a live person to cancel my NBC credit card.
A bit of consolation.

Thanks.

I do have a personal line of credit and a credit card along with a no-fee account with them for a few years now. I don't have any complaint against them other than an isolated incident when I had a credit balance in my credit card and had to go to a branch to get the money moved to my other account. As they were not able to do it over the phone and their branch locations may not convenient to some people.
Deal Addict
Nov 21, 2013
4593 posts
2989 upvotes
fkungery wrote: YOu had good intention all right. The downvotes were not against u personally, but against the NBC promotion. But, many here got the similar promotion ($300 to open a bank acct and $100 for a new credit card) last August or Sept, and had bad experiences. I found the customers service at my local NBC branch bad, and I had to wait about 45 minutes last week to talk a live person to cancel my NBC credit card.
Bad service at tour local branch does not mean that all NBC place are bad?!?
Deal Addict
Nov 15, 2006
1683 posts
414 upvotes
i did this in 2017 and closed it in 2018 but it never really got closed until 2019.
I withdrew everything and got a confirmation the account was closed.
2 months later, I started getting an e-mail that my statement was ready.
Thought it was an error since NBC was going through major website changes at the time.
When I received a second one, I had to go into their branch again and have it escalated because the account wasn't actually closed.
Oh and these shitty banks all close at 3pm wtf.
Member
Mar 26, 2012
318 posts
156 upvotes
DoorCrasher wrote: Bad service at tour local branch does not mean that all NBC place are bad?!?
I was just talking from my unpleasant personal experience with NBC at my local branch, and from reading similar experiences by others elsewhere in the similar 2018 NBC promotion thread. If u have had good experience with NBC, tell us about it.
Deal Addict
Nov 21, 2013
4593 posts
2989 upvotes
fkungery wrote: I was just talking from my unpleasant personal experience with NBC at my local branch, and from reading similar experiences by others elsewhere in the similar 2018 NBC promotion thread. If u have had good experience with NBC, tell us about it.
I have no experience at all with NBC
Banned
Mar 3, 2006
1198 posts
271 upvotes
Edmonton
Worst bank to deal with. Changed minimum balance requirement like 2 months after I joined. Charged me transaction fee to cancel account because it is considered a withdrawal.
Deal Addict
Sep 4, 2007
1367 posts
920 upvotes
Edmonton
I did this last year. It took many emails and phone calls to finally get my bonus money, but it did happen several months after the due date. The banker lady also gave me sass for doing the deal and closing the account. lol

Probably still worth it of you're willing to do the hustle, but if you can get your $300 somewhere else then do so.
Newbie
Dec 2, 2018
49 posts
20 upvotes
Worst bank ever, BUYER BEWARE!!! They even had database leaks recently which is horrendous ‘

Top