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RBC iPad Offer (Net benefit of $240+)

  • Last Updated:
  • Jan 11th, 2022 5:33 pm
[OP]
Newbie
Mar 6, 2019
29 posts
77 upvotes
Vancouver

[Royal Bank] RBC iPad Offer (Net benefit of $240+)

RBC iPad offer is back. They are offering the latest 10.2” iPad Wi-Fi 32GB (8th Generation). Deal Link:
https://www.rbcroyalbank.com/dms/pba/op ... -n-or.html

All you need to do is meet the following conditions:

1) Open an eligible RBC bank account by December 18, 2020:
i) RBC Signature
ii) RBC VIP

2) Set up and complete two of the following by February 15, 2021:
i) Your payroll as a direct deposit
ii) Two pre-authorized monthly payments (PAPs)
iii) Two bill payments to a service provider

If you are only going to open an account solely for this iPad, I'd suggest opening the Signature account as it has a lower monthly fee of $15.95.

$430 (without tax) iPad - $192 ($16 a month)* = $238 net benefit.
*Assuming they won't let you close your account for the next 12 months.

So fair to say a value of 240+ is guaranteed with this offer. it would be best to open the account in early Dec 2020 and close it in Jan 2022 to pay the least monthly fees and ensure the reward isn't clawed back.

----

FAQs

Q) Is there a way to avoid the monthly fee by maintaining a certain balance similar to TD, Scotia, etc?
No way to waive off the monthly fee by keeping $4000 to $6000 in your chequing account with RBC. The closest thing I could find was that RBC offers multi product rebate. If you have an investment account, mortgage, etc with them, they offer some bundle discount.

Q) Can I close this account once I get the iPad? How long do I have to keep this premium account open for?
As pointed below by demanche & trigger0, it would be best to to open the account in Dec 2020 and close it in Jan 2022. This way you'd pay the least monthly fees possible and ensure the reward isn't clawed back.
If you received the Reward and then downgraded, changed or closed your Eligible Personal Banking Account or undid any of the Qualifying Criteria you performed to get the Reward, such as cancelled any payroll/pension deposit, pre-authorized payment, at any time before December 31, 2021, we reserve the right to debit your Eligible Personal Banking Account or any of your accounts with RBC for the value of the Reward you selected as described in the table below, plus applicable taxes, even if this places you into overdraft. If your Eligible Personal Banking Account is closed and you do not have any other account with us at that time, we will send you an invoice for the value of the Reward you selected, as described in the table below plus applicable taxes, which invoice you agree to pay within 30 days of its postmark date;
Terms & Conditions:
https://www.rbcroyalbank.com/dms/pba/op ... tions.html

-----
BB 8th Generation iPad Reference: https://www.bestbuy.ca/en-ca/product/ap ... y/14961795
Last edited by TomRFD on Sep 22nd, 2020 11:56 pm, edited 4 times in total.
Reason: retailer field was empty
399 replies
Deal Addict
Aug 7, 2019
1069 posts
359 upvotes
EDIT: Dang, just missed it. This was where my OP post was but it doesn't make sense now, lol


New deal from RBC for opening an account

https://www.rbcroyalbank.com/dms/pba/op ... -n-or.html

You are supposed to get the latest iPad so I'm assuming that means the iPad 8 but maybe someone can confirm.

If you want to have anything added to this OP, @ me in the thread.

Not sure whether to post in banking or electronics.
Last edited by DrDoomsday on Sep 21st, 2020 9:47 pm, edited 3 times in total.
Deal Fanatic
User avatar
Jul 4, 2005
7704 posts
1574 upvotes
Ottawa
The “smart” banks have caught on....
This offer is available to permanent Canadian residents without an existing Personal Banking Account with Royal Bank of Canada or any of its deposit taking subsidiaries at the beginning of the “Promotional Period” on September 21, 2020, or in the prior five year period, and otherwise comply with the terms of the offer.
Member
Jul 29, 2019
285 posts
253 upvotes
Is it possible to convert this to 128gb model by paying extra or by other means ?
I spend time on RFD,
more than I'd like to admit.
But I console myself stating,
I'd need another job if I wouldn't
Deal Addict
User avatar
Sep 22, 2016
2889 posts
5030 upvotes
Toronto
Not a bad deal.. personally, I don’t like paying monthly fee and I guess there os no way to avoid it with rbc? Especially with the current interest rate, I am okay with keep 5k to avoid the monthly fee
Deal Addict
Mar 16, 2008
3548 posts
3552 upvotes
iPad is really only 399 plus tax since everyone knows to go through education store.
Deal Fanatic
User avatar
Jul 22, 2007
7420 posts
7291 upvotes
Calgary
Looks like your thread is duplicated.
Deal Addict
Oct 18, 2018
3442 posts
1667 upvotes
Is there a monthly fee on this account? Or can it be avoided by keeping a minimum balance
Newbie
Aug 8, 2018
82 posts
104 upvotes
Centre of universe G…
Does paying your credit card bill count as bill payments?

For PAP I am thinking either hydro, gas, property taxes, etc which is ok

But I don't really have a lot of bills to pay. What kind of bill payments count? The only thing I can think of is my internet with Fido.
Deal Addict
Mar 26, 2006
2101 posts
231 upvotes
OTTAWA, Canada
Your Eligible Personal Banking Account must remain open and in good standing, and the Qualifying Criteria you performed to get the Reward (such as payroll/pension deposit, pre-authorized payments) must remain in effect at least until December 31, 2021;
So don’t sign up until Dec...

I did this in 2018, got offer/order link exactly 2 months after meeting the requirements.
Newbie
Nov 22, 2017
13 posts
2 upvotes
Am I eligible for this promo if I used to have an rbc personal bank account with them in 2019? I closed the account in may last yr
Deal Fanatic
User avatar
Jul 22, 2007
7420 posts
7291 upvotes
Calgary
quan21 wrote: Am I eligible for this promo if I used to have an rbc personal bank account with them in 2019? I closed the account in may last yr
See post 3
Sr. Member
Jun 13, 2019
902 posts
1190 upvotes
Toronto
If you received the Reward and then downgraded, changed or closed your Eligible Personal Banking Account or undid any of the Qualifying Criteria you performed to get the Reward, such as cancelled any payroll/pension deposit, pre-authorized payment, at any time before December 31, 2021, we reserve the right to debit your Eligible Personal Banking Account or any of your accounts with RBC for the value of the Reward you selected as described in the table below, plus applicable taxes, even if this places you into overdraft. If your Eligible Personal Banking Account is closed and you do not have any other account with us at that time, we will send you an invoice for the value of the Reward you selected, as described in the table below plus applicable taxes, which invoice you agree to pay within 30 days of its postmark date;
https://www.rbcroyalbank.com/dms/pba/op ... tions.html
Sr. Member
Jun 13, 2019
902 posts
1190 upvotes
Toronto
jeeva86 wrote: The “smart” banks have caught on....
What's different? This seems similar to past and similar other bank's offers..
Member
Sep 13, 2019
277 posts
451 upvotes
Quebec
DrDoomsday wrote: EDIT: Dang, just missed it. This was where my OP post was but it doesn't make sense now, lol


New deal from RBC for opening an account

https://www.rbcroyalbank.com/dms/pba/op ... -n-or.html

You are supposed to get the latest iPad so I'm assuming that means the iPad 8 but maybe someone can confirm.

If you want to have anything added to this OP, @ me in the thread.

Not sure whether to post in banking or electronics.
If you look at the Terms and Conditions. They quoted the following model which are the newest iPad
MYLA2VC/A,
MYLC2VC/A,
MYL92VC/A,
Sr. Member
Mar 20, 2013
754 posts
939 upvotes
Winnipeg
demanche wrote: So don’t sign up until Dec...

I did this in 2018, got offer/order link exactly 2 months after meeting the requirements.
I hate the idea of fairly large monthly service fees. Like, you could have $25,000 sitting in this account , and at $15/month in service fees, you would be losing money.

But, I could stand to pay that for a couple of months if it meant a free iPad.

Do see any reason why this wouldn't work this year?

edit: you have to keep it active until Dec 2021. still a decent discount, but probably too much of a hassle for me to follow through on.
Last edited by CheapWinnipeger on Sep 21st, 2020 11:05 pm, edited 1 time in total.
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Jul 22, 2007
7420 posts
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Calgary
CheapWinnipeger wrote: I hate the idea of fairly large monthly service fees. Like, you could have $25,000 sitting in this account , and at $15/month in service fees, you would be losing money.

But, I could stand to pay that for a couple of months if it meant a free iPad.

Do see any reason why this wouldn't work this year?
Dec 31 2021
Member
Sep 13, 2019
277 posts
451 upvotes
Quebec
CheapWinnipeger wrote: I hate the idea of fairly large monthly service fees. Like, you could have $25,000 sitting in this account , and at $15/month in service fees, you would be losing money.

But, I could stand to pay that for a couple of months if it meant a free iPad.

Do see any reason why this wouldn't work this year?
I thought most banks waived the monthly fees if you have $6,000 more in the account. But you do lose the opportunities to put in an account with higher interest rates.

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