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[Royal Bank] RBC Business account - Get 500$

  • Last Updated:
  • May 21st, 2020 11:11 am
[OP]
Member
User avatar
Nov 13, 2016
298 posts
284 upvotes
Montreal

[Royal Bank] RBC Business account - Get 500$

How to Get this Offer:

Open an eligible RBC business bank account3 by March 31, 2020.

Make 12 qualifying transactions within 90 days of your account open. You can mix and match transactions from the list below to meet the needs of your business.

Pay a bill to a service provider or supplier
Complete an Interac‡ e-Transfer transaction
Complete an Automated Clearing House (ACH) transfer
Send a wire transfer
Complete a cheque payment or cheque deposit
Receive Moneris‡ deposit(s)


We will deposit $500 cash directly into your new RBC business bank account. Feel free to spend it on whatever your business needs!


Offer link - https://www.rbcroyalbank.com/business/c ... dium=email
I spent and earn with Koodo, Fido, AmEx etc | Sharing is Caring ;)
107 replies
Deal Addict
Feb 12, 2004
1520 posts
170 upvotes
From terms and conditions:

"Providing you fulfill the Qualifying Criteria, and subject to these Terms, you may receive a credit in the amount of $350 deposited into your Eligible Business Deposit Account within 4 to 8 weeks of completing the twelve (12) Qualifying Transactions within the Qualifying Period (hereinafter, the “Promotional Offer”)."

Where is the other $150?
Sr. Member
Jul 28, 2004
525 posts
30 upvotes
Regina
Wondering if I can open an account ( I do have a business starting up) and just transfer myself 12 times over the 90 day period.
Newbie
Oct 23, 2017
60 posts
155 upvotes
jmoe316 wrote: Wondering if I can open an account ( I do have a business starting up) and just transfer myself 12 times over the 90 day period.
Technically transfers to yourself are excluded in the T&C but I don't see why you couldn't do 12 $1 transfers to your friends. Thinking about it myself!
Sr. Member
Jan 8, 2012
625 posts
384 upvotes
Williams Lake
Thanks OP.

Quite a few hoops to go through, but doesn't look too onerous.

You have to keep the account open until Sept. 30th, 2020. But the fees don't look prohibitive.

And you have to start poking RBC to get the credit by Oct. 31st, 2020, or they will consider you've lost your entitlement.

But I'm with bigbug in wondering where the other $150 is?
Jr. Member
User avatar
Jul 23, 2007
180 posts
215 upvotes
Montreal
This seems fairly easy to achieve... a few e-transfers and deposits....
No minimum balance to keep like other similar promotions
Deal Fanatic
Aug 21, 2007
5400 posts
412 upvotes
Markham
PeterQ857 wrote: What about rbc business accounts that are already open?
looks like a big fat nothing unfortunately

but given that this works for the $5 account, which happens to be very good for small businseses that only need electronic transactions, i think this is a very good offer
Jr. Member
Oct 15, 2018
168 posts
57 upvotes
jmoe316 wrote: Wondering if I can open an account ( I do have a business starting up) and just transfer myself 12 times over the 90 day period.
T & C says: "Complete an Interac‡ e-Transfer transaction payable to payee(s) other than you or any of your shareholders, directors, or any other beneficial owners"
So its better to transfer it to a friend as stated by @PumpkinPete
Jr. Member
Jul 27, 2017
137 posts
52 upvotes
adeel wrote: looks like a big fat nothing unfortunately

but given that this works for the $5 account, which happens to be very good for small businseses that only need electronic transactions, i think this is a very good offer
I tried reading the terms..looks like existing customers can open another account and would still be paid the bonus ?
Deal Fanatic
Aug 21, 2007
5400 posts
412 upvotes
Markham
coolkunal wrote: I tried reading the terms..looks like existing customers can open another account and would still be paid the bonus ?
my reading of the terms said should not have any business relationship with rbc as of jan 23
Jr. Member
Jul 27, 2017
137 posts
52 upvotes
adeel wrote: my reading of the terms said should not have any business relationship with rbc as of jan 23
Read them again and you are right .
Newbie
Mar 6, 2013
47 posts
37 upvotes
Toronto
Not quite as good as coast capital but close! A little more hoops to jump through for business accounts
Jr. Member
Jan 14, 2008
161 posts
36 upvotes
PumpkinPete wrote: Technically transfers to yourself are excluded in the T&C but I don't see why you couldn't do 12 $1 transfers to your friends. Thinking about it myself!
Do you think that would work? I looked over the terms and it doesn't state any amount for minimum transfers so in theory this should work. You get 10 free transfers then after that it's $1.50 each. At $5 a month to keep this account seems like a good offer.

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