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RBC Direct Investing $300 bonus (code WNG15) on $3k deposit and keep for 2-3 months - ends May 3, 2023

  • Last Updated:
  • Mar 31st, 2023 6:46 am
[OP]
Sr. Member
Nov 30, 2011
636 posts
489 upvotes

[Royal Bank] RBC Direct Investing $300 bonus (code WNG15) on $3k deposit and keep for 2-3 months - ends May 3, 2023

There is no thread for this specific deal, it's buried in other expired threads. A thanks to Franklin777 who first mentioned it as well as the workaround described here if you don't have an RBC checking/savings account.

Deal link: https://www.rbcroyalbank.com/nbo/cashba ... Code=WNG15

You need to log in to your RBC account in another tab first for the link to work. If you don't have an RBC account try this less appealing public offer:

https://www.rbcdirectinvesting.com/dms/ ... gIAavD_BwE

and change the promo code to WNG15. This workaround hasn't been tested by anybody.

Offer details:

How to Get Your Cash Back

Simply follow these three steps:

1. Open Account: Open your first Direct Investing account(s) online by May 3, 2023 using the promo code WNG15.

2. Transfer Funds: Transfer a minimum of $3,000 in eligible funds to your new account(s) by July 7, 2023 and hold them there until at least September 8, 20231. We’ll even cover up to $200 in transfer fees when you transfer $15,000 or more.

3. Get Cash Back: Your cash back amount will be based on the amount transferred into your new account(s) by July 7, 2023 minus any withdrawals made by September 8, 20231. The cash back will be deposited into your account(s) on or around October 13, 2023.

Net Transferred Assets (C$) Cash Back (C$)
3,000-49,999 300
50,000-99,999 400
100,000-249,999 500
250,000-499,999 700
500,000-999,999 1,000
1,000,000-1,999,999 2,000
2,000,000 5,000

IMPORTANT: If you're opening the account solely for churning don't open the account until the end of April beginning of May, otherwise, you'll fall out of the 6 month fee waiver and either incur a $25 quarterly fee or have to setup a PAC to avoid it. Also, while your money is sitting there it can earn extra interest from one of RBC's ISAs (RBF2010, RBF2020, RBF2030, RBF2040 4.05% [Updated: Feb 03 2023](mentioned by ADenariusSaved)
Last edited by TomRFD on Mar 21st, 2023 11:24 am, edited 2 times in total.
Reason: updated retailer name to match up with our retailer list
Thread Summary
You don't need to make 3 trades before 6 months because the fee is already waived. But after that, any 3 trades made in any quarter waives that quarter's fees.

I think the simplest thing to do is go to a branch and open a savings account. Takes a few minutes and will save you more time later instead of dealing with a check and $10 fee when you close your DI account
118 replies
Jr. Member
Nov 6, 2022
116 posts
83 upvotes
Do I have to transfer $3k from another bank? Can I just open an account and leave $3k in there until September?
Sr. Member
Sep 4, 2017
725 posts
1203 upvotes
I had a robo investor account (which I closed), will I still be eligible?
Deal Fanatic
User avatar
Jul 22, 2007
8282 posts
8940 upvotes
Calgary
hyosuke116 wrote: Do I have to transfer $3k from another bank? Can I just open an account and leave $3k in there until September?
No. Yes.
Deal Addict
Sep 1, 2007
2535 posts
2181 upvotes
Surrey
hyosuke116 wrote: Do I have to transfer $3k from another bank? Can I just open an account and leave $3k in there until September?
"and transfer or deposit a minimum of $3,000 CDN cash and/or securities (‘Transferred Assets’) into your Eligible Account(s) by July 7, 2023, inclusive"
Deal Addict
Sep 1, 2007
2535 posts
2181 upvotes
Surrey
Thanks OP. Gonna open these for me and my wife tomorrow. Easy $600
[OP]
Sr. Member
Nov 30, 2011
636 posts
489 upvotes
hyosuke116 wrote: Do I have to transfer $3k from another bank? Can I just open an account and leave $3k in there until September?
When you open the account it gives you the option of linking your RBC or an external bank account. You'll be able to transfer $3K from the info you provide once they're linked.

You can also bill pay RBC Direct Investing from an external bank account to deposit $3K.
Last edited by Bzzzzt on Mar 17th, 2023 10:11 pm, edited 1 time in total.
Deal Fanatic
Aug 5, 2006
9139 posts
6099 upvotes
Global Village
If you don't have an RBC bank account there is no way to link an external account to RBCDI or to do an electronic $ transfer out, so if you need to withdraw $ at any point you have to go to an RBC branch or call RBCDI to issue and mail a cheque for the amount you want to withdraw (which costs $10).

Full Terms:

https://www.rbcroyalbank.com/nbo/cashba ... dex-h.html
All day I dream about sports

My Banks: Tangerine, Meridian, EQ Bank, Simplii
[OP]
Sr. Member
Nov 30, 2011
636 posts
489 upvotes
scoper wrote: If you don't have an RBC bank account there is no way to link an external account to RBCDI or to do an electronic $ transfer out, so if you need to withdraw $ at any point you have to go to an RBC branch or call RBCDI to issue and mail a cheque for the amount you want to withdraw (which costs $10).

Full Terms:

https://www.rbcroyalbank.com/nbo/cashba ... dex-h.html
There's nothing in the T&C that says so. They actually ask you for an external account in the application unlike TD where you have to call them later to set it up.
Deal Addict
Mar 20, 2005
2966 posts
1234 upvotes
Maple
Silly question, if I already have a direct investing account I'm out of luck ?
Deal Fanatic
Aug 5, 2006
9139 posts
6099 upvotes
Global Village
Bzzzzt wrote: There's nothing in the T&C that says so. They actually ask you for an external account in the application unlike TD where you have to call them later to set it up.
Were you able to successfully link an external bank account? I called RBCDI about this and they said it is not possible.

They make it easy to transfer $ in with bill pay but surprisingly difficult to withdraw if you don't bank with RBC.
All day I dream about sports

My Banks: Tangerine, Meridian, EQ Bank, Simplii
[OP]
Sr. Member
Nov 30, 2011
636 posts
489 upvotes
scoper wrote: Were you able to successfully link an external bank account? I called RBCDI about this and they said it is not possible.

They make it easy to transfer $ in with bill pay but surprisingly difficult to withdraw if you don't bank with RBC.
No, because I already have an RBC bank account. But, I'd be really surprised if you couldn't do it. Maybe somebody with more knowledge on RBC Direct Investing can confirm. If it really is the case then maybe just open a free savings account just for this purpose and closing it once you're done.
[OP]
Sr. Member
Nov 30, 2011
636 posts
489 upvotes
corcoran_chris wrote: Silly question, if I already have a direct investing account I'm out of luck ?
Yes

From T&C:

To qualify, the following conditions must be met:

You must not have an account with RBC Direct Investing as of the day before the first day of the Offer Period (defined below)
...
Accounts between February 2, 2023 and May 3, 2023 inclusive (the “Offer Period”)
Newbie
Feb 25, 2014
53 posts
63 upvotes
OTTAWA
Watch out for fees if keeping under 15k in assets there.

25$/quarter after first six months.

Looks like a 100 commission free trades offer will expire March 31 (separate offer and doesn't appear to be able to be combined.

Possibly a better deals as you have 2 years to use them so if you think you will trade 30 times or more in 2 years (at 9.95$ each) might be better for a small account.

https://www.rbcdirectinvesting.com/pricing/fees.html
Deal Fanatic
User avatar
Jan 11, 2020
5826 posts
4514 upvotes
TheprimOrdialsingula…
Thanks for the reminder! Almost forgot about this.

This place looks like an in-and-out operation. Not the greatest broker in Canada...It's one of the few I don't have for that reason.
Deal Addict
Jan 5, 2018
1972 posts
1754 upvotes
How come the cash back reward ratio gets worse as you put more money into it lol...
NOT A WOMAN. JUST GOT A WEIRD NAME. I AM A MAN. THANKS.
Sr. Member
Mar 2, 2011
652 posts
343 upvotes
West
I'm looking at the T&Cs and it seems like I can just open a cash account? So just open a RBC DI and put $3k and wait till Oct 13, 2023 to get $300. Am I missing anything?
I have my TFSA and RRSP elsewhere and don't want to transfer those out.



The ‘Cash Back’ offer (‘Cash Back’) is available to Canadian residents only, subject to the following terms and conditions:

1. The Offer Period

To qualify, the following conditions must be met:

You must not have an account with RBC Direct Investing as of the day before the first day of the Offer Period (defined below)
Open one or more new RBC Direct Investing account (‘Eligible Account(s)’) using a qualifying offer code when opening at least one of your Eligible Accounts between February 2, 2023 and May 3, 2023 inclusive (the “Offer Period”). The account type opened must be a: Cash (single or joint account holder), Margin (single or joint account holder), Tax Free Savings Account single account holder (TFSA), Registered Retirement Savings Plan single account holder (RRSP). Locked-in registered, non-personal, RESPs and, RRIFs and RDSP accounts do not qualify for this Cash Back offer;
Transfer or deposit a minimum of $3,000 CDN cash and/or securities (‘Transferred Assets’) between February 2, 2023 and July 7, 2023 inclusive. Cash and securities received after July 7, 2023 are not eligible for Cash Back;
Deposits and transfers into or from any RBC Direct Investing accounts are not eligible for Cash Back; and
Cash back will be paid into your Eligible Account(s) on or about October 13, 2023.
Sr. Member
User avatar
Nov 4, 2012
991 posts
427 upvotes
Musically wrote: Watch out for fees if keeping under 15k in assets there.

25$/quarter after first six months.

Looks like a 100 commission free trades offer will expire March 31 (separate offer and doesn't appear to be able to be combined.

Possibly a better deals as you have 2 years to use them so if you think you will trade 30 times or more in 2 years (at 9.95$ each) might be better for a small account.

https://www.rbcdirectinvesting.com/pricing/fees.html

Do you need to pay the fee even if it's a TFSA account?
Newbie
User avatar
Nov 25, 2020
70 posts
47 upvotes
Do they perform a credit check on you to open the account?
Deal Fanatic
User avatar
Jan 11, 2020
5826 posts
4514 upvotes
TheprimOrdialsingula…
Might as well move in 15k if the holding period exceeds a quarter, gotta stuff it in these to reduce the opportunity cost damage:

RBC (RBF2010, RBF2020, RBF2030, RBF2040 4.05% [Updated: Feb 03 2023]

Stingy, but I always say, these guys aren't the best. They will restrict you from HISA ETFs and other institutional ISAs. But I guess their ISA products are 80% of the way there...
HamsterDad wrote: Do they perform a credit check on you to open the account?
Don't open a margin account...

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