[Royal Bank] remove
remove
Last edited by shipill on Sep 15th, 2023 2:40 pm, edited 4 times in total.
Score breakdown ×
Mar 24th, 2023 5:44 am
Nearby Royal Bank locations:
Mar 24th, 2023 6:06 am
This means you're forced to pay their uwaiveable $16.95 fee for 12 months = $203.4, making this offer entirely meaningless for all the effortYour Eligible Personal Banking Account must remain open and in good standing, and the Qualifying Criteria you performed to get the Bonus Amount for the Signature No Limit Banking account, RBC VIP Banking Account, or RBC Advantage Banking Account (such as payroll/pension deposit or pre-authorized payment) must remain in effect for at least 365 days from the Qualify By Date.
If you received the Bonus Amount and then downgraded, changed or closed your Eligible Personal Banking Account or removed or otherwise undid any of the Qualifying Criteria you performed to qualify for the Promotional offer and to receive the Bonus Amount (e.g., cancelled any payroll/pension deposit or pre-authorized payment), at any time prior to 365 days from the Qualify By Date, we reserve the right to debit your Eligible Personal Banking Account or any of your accounts with us for the Bonus Amount, even if this places your Eligible Personal Banking Account or any other account into overdraft. If your Eligible Personal Banking Account is closed and you do not have any other account with us at that time, we reserve the right to send you an invoice in the amount of the Bonus Amount that was paid to you, which you agree to pay within 30 days of its postmark date.
Mar 24th, 2023 6:12 am
Mar 24th, 2023 6:15 am
So unlike every other major bank, you still pay a fee when you have multiple products, got it. Terrible bank still, nothing's changed.
Mar 24th, 2023 6:31 am
It's not a good thing - it's an illusion, or rather a diversion. Problem with RBC is they don't even provide the option to waive a fee, so as soon as you have enough savings to park a balance at another fee-waiving bank, you've already outgrown RBC. They're just greedy.
Mar 24th, 2023 6:54 am
Mar 24th, 2023 7:02 am
Mar 24th, 2023 7:15 am
why pls explain
Mar 24th, 2023 7:19 am
Mar 24th, 2023 7:56 am
Mar 24th, 2023 8:07 am
Mar 24th, 2023 9:24 am
Im not defending RBC because some banks also have alternative (better) ways of completely waiving a fee. But it is worth noting that a 5000 minimum balance in a 0% interest account is effectively (5000*.042) a 210 dollar annual fee at the moment. I picked 4.2% as it is the highest non promo savings account interest i could find in a quick google. 210 of course is more than the cost of credit card they give you.pkamto wrote: ↑ So unlike every other major bank, you still pay a fee when you have multiple products, got it. Terrible bank still, nothing's changed.
What could you possibly get out of RBC that you couldn't out of EQ / Simplii ? EQ will actually pay you interest for the balance in your account which acts as both chequing and savings, let alone take monthly fees from you. Simplii is also free but you get free cheques in the mail too.
I have a Scotiabank Ultimate account as well for which the fee is completely waived for keeping a $5000 balance and it also waives the annual fee for their top tier cashback card which in turn nets me about $500 cashback annually
Some banks can help grow your money. Others just take. Do your research. One time opening offers mean very little
Mar 24th, 2023 9:36 am
Mar 24th, 2023 9:36 am
The math is wrong here. You need to have 3 different RBC products (personal investment account, credit card, mortgage, business account) to reduce the monthly fee to $5. Not everyone new to RBC would have a business, or can transfer a mortgage over. Otherwise, you are paying $11.95 per month, that's $143.4 for 12 month, net you $206.6.shipill wrote: ↑ this is good for people who have 2 RBC products with 2 products after rebate you only pay $5 for no limit account
12 x 5 = 60 total montly fees for 1 year
350 - 60 = $290 you will get 290 after the monthly fees
if you combine this chequing promo with direct investing promo you'll get $590 in total
Mar 24th, 2023 9:39 am
Mar 24th, 2023 9:53 am
Mar 24th, 2023 10:05 am
Mar 24th, 2023 10:28 am
Mar 24th, 2023 10:53 am
Mar 24th, 2023 1:54 pm
Exactly why I am not at all thrilled about my HSBC Premier account moving to RBC.pkamto wrote: ↑ So unlike every other major bank, you still pay a fee when you have multiple products, got it. Terrible bank still, nothing's changed.
What could you possibly get out of RBC that you couldn't out of EQ / Simplii ? EQ will actually pay you interest for the balance in your account which acts as both chequing and savings, let alone take monthly fees from you. Simplii is also free but you get free cheques in the mail too.
I have a Scotiabank Ultimate account as well for which the fee is completely waived for keeping a $5000 balance and it also waives the annual fee for their top tier cashback card which in turn nets me about $500 cashback annually
Some banks can help grow your money. Others just take. Do your research. One time opening offers mean very little
There are currently 2 users viewing this thread. (0 members and 2 guests)