Expired Hot Deals

Royal Bank

RBC iPad Offer (Net benefit of $240+)

  • Last Updated:
  • Jan 11th, 2022 5:33 pm
Sr. Member
Mar 20, 2013
750 posts
935 upvotes
Winnipeg
iVel004 wrote: 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.
Some used to do that for as little as $1000 or $2000, I looked around and didn't see that mentioned. It's possible that I missed it.
Member
Sep 13, 2019
270 posts
423 upvotes
Quebec
CheapWinnipeger wrote: Some used to do that for as little as $1000 or $2000, I looked around and didn't see that mentioned. It's possible that I missed it.
Actually you're right. I assumed that RBC will do like TD, BMO and Scotia, but I forgot they use a multiproduct rebates program and the lowest you can go is $9.95 if you have a mortgage with them.
Sr. Member
Aug 30, 2015
712 posts
1108 upvotes
BC
So coincidentally on my to-do list is to open an RBC bank account - I have a mortgage with them but no account; and having one allows me to modify my payment amounts, do lump sums and adjust frequency online. I do not intend for it to be my main bank account - just a special purpose one for the mortgage, so I was just going to do the simple "Day to day Saving" account since there's no monthly fee.

This deal is nudging me towards going with RBC Signature + a RBC credit card + an active investment account + I already have a mortgage. Through the multiproduct rebate program (http://www.rbcroyalbank.com/products/de ... ebate.html) my monthly would be $9.95 instead of $15.95. So the "net benefit" would the $240 the OP mentioned plus an extra $72. (assuming 12 months with the premium account).

So the big question is - how long do we actually have to maintain this premium account? 12 months is fine with me , but it seems it's just an assumption - not the actual terms. If it's 2 years the value of it is mostly gone.
[OP]
Newbie
Mar 6, 2019
29 posts
77 upvotes
Vancouver
setlist wrote: So coincidentally on my to-do list is to open an RBC bank account - I have a mortgage with them but no account; and having one allows me to modify my payment amounts, do lump sums and adjust frequency online. I do not intend for it to be my main bank account - just a special purpose one for the mortgage, so I was just going to do the simple "Day to day Saving" account since there's no monthly fee.

This deal is nudging me towards going with RBC Signature + a RBC credit card + an active investment account + I already have a mortgage. Through the multiproduct rebate program (http://www.rbcroyalbank.com/products/de ... ebate.html) my monthly would be $9.95 instead of $15.95. So the "net benefit" would the $240 the OP mentioned plus an extra $72. (assuming 12 months with the premium account).

So the big question is - how long do we actually have to maintain this premium account? 12 months is fine with me , but it seems it's just an assumption - not the actual terms. If it's 2 years the value of it is mostly gone.
Updated the original post. As other have pointed out, would be best to open the account in Dec 2020 and close it by Jan 2022. 13 monthly fee deductions in total just to be on the safe side. This would ensure the welcome bonus isn't clawback :)
patel21 wrote: Is it possible to convert this to 128gb model by paying extra or by other means ?
Bro this isn't best buy :p Pretty sure 32 GB is the only model eligible for this promo.
[OP]
Newbie
Mar 6, 2019
29 posts
77 upvotes
Vancouver
iVel004 wrote: 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.
What do you mean by high interest rates? Whenever I hear this, I think of high interest savings accounts. Please let me know if you meant something else.

The highest rate I currently see on Ratehub is 1.7% for EQ Bank. I don't really venture outside the top 5 banks and their interest rates for savings accounts are pretty far behind.$5000 parked in a chequing account to waive off the annual fee on credit cards is better value than earning $85 on the same amount imo.
Member
Sep 13, 2019
270 posts
423 upvotes
Quebec
EliGold wrote: What do you mean by high interest rates? Whenever I hear this, I think of high interest savings accounts. Please let me know if you meant something else.

The highest rate I currently see on Ratehub is 1.7% for EQ Bank. I don't really venture outside the top 5 banks and their interest rates for savings accounts are pretty far behind.$5000 parked in a chequing account to waive off the annual fee on credit cards is better value than earning $85 on the same amount imo.
My bad I wasn't clear, but yes I meant high interest saving account when EQ bank used to give more.
Newbie
Jul 4, 2020
10 posts
10 upvotes
pongster wrote: iPad is really only 399 plus tax since everyone knows to go through education store.
How do I go about getting this? I'm in uni and brother is in hs, so we have both segments covered
Deal Addict
Aug 7, 2019
1059 posts
354 upvotes
Is there a minimum balance to avoid the monthly fee (like TD)
Jr. Member
Nov 9, 2017
154 posts
52 upvotes
Edmonton
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

That above is a scary part. If, for some reason,during the 12-month period, a preauthorized payment or payroll deposit is missed, you'll be on the hook for the cost of the iPad plus taxes. Plus the iPad itself is only 32GB. Not worth $429 plus taxes.
Koodo, Public Mobile, Telus, Tangerine Bank, HSBC, Mylo,
Drop, WealthSimple, Swagbucks, AwardWallet,
Deal Addict
Nov 15, 2006
1955 posts
706 upvotes
YMMV but I got this like 2-3yrs ago and I paid much less monthly fees with the multi product rebate (I also have a mortgage with them, I believe sr rebates work as well) and also I was able to downgrade the account to a "free" one (after multiprod rebate) when they upped the price of the monthly account fee.

I went into a branch specifically and told them that I did not agree to paying a higher monthly fee during my 12 mths term and that I wanted to either get the difference credited or downgrade and the bank person downgraded the account for me and I didn't get any money clawed back for the ipad. I think I had spent like 60$ on the ipad overall at the time.
Deal Expert
User avatar
Jan 12, 2017
18900 posts
5497 upvotes
Scarberia
If Ur a senior I think u get 5$off per month discount.. I did this offer 2 yrs ago I think for the 6th Gen iPad Wi-Fi
*SIG: Ryzen R5 2600 cpu w/ ASrock B450M OCd to [email protected] stock cooler 16gb ram win10 pro w/radeon rx460 rogers Gigabit<< xb1 gamertag: mikka2017 >>
Sr. Member
Aug 22, 2009
581 posts
518 upvotes
Ottawa
Thanks for the reminder!

My obligation is over. Time to cancel Grinning Face With Smiling Eyes.
Partner is with DND so I can get free banking with BMO

RBC was one of my least favourite banks to bank with. Let’s see how BMO is.
Deal Fanatic
User avatar
Dec 23, 2008
5897 posts
1592 upvotes
Milton
Is the WestJet RBC World Elite Mastercard good cc to churn with the ipad offer?
Jr. Member
Oct 12, 2018
114 posts
70 upvotes
Anybody knows if Ubereats/Dorrdash/Skip payments counted towards payroll in 2020 promo?
RFD is kind of hole in the wallet, which I don't wanna block 😉
Jr. Member
Nov 6, 2017
139 posts
51 upvotes
Vancouver
Not a good deal for me.

Monthly fee can not be waived. Other banks offer $300 cash back promotion.
Deal Addict
User avatar
Jan 23, 2004
3126 posts
2636 upvotes
GVRD
32GB in reality is not a lot of space for today's usage unless you are just browsing the web; any productivity and entertainment needs will take up most of the space.
Sr. Member
Oct 25, 2010
837 posts
404 upvotes
I wonder how long it will take for them to get a new iPad in your hands
Deal Addict
Nov 26, 2014
1015 posts
664 upvotes
Toronto, ON
Do we need to keep pre auth-ing until 2021 Dec?
Anyone tried tangerine pull count as one PAP?

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