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[Royal Bank] RBC Financial Rewards - Save 20% towards Registered accounts

  • Last Updated:
  • Feb 1st, 2019 3:14 pm
[OP]
Newbie
Mar 22, 2009
36 posts
5 upvotes

[Royal Bank] RBC Financial Rewards - Save 20% towards Registered accounts

Good deal for those who want to contribute to a registered account with RBC, through their reward points. $100 reward is now 10,000 points instead of the usual 12,000 points. From their rewards page:

Contribute to a Registered Retirement Savings Plan (RRSP), Registered Education Savings Plan (RESP) or Tax-Free Savings Account (TFSA) with Royal Bank of Canada, RBC Direct Investing, RBC Dominion Securities Inc. or RBC Phillips, Hager & North Investment Counsel Inc. You can contribute to a Registered Disability Savings Plan (RDSP) with Royal Bank of Canada.

Redemptions start with a minimum of 12,000 RBC Rewards points for a $100 voucher. After that, for each additional 3,000 RBC Rewards points you redeem you receive an additional $25 in vouchers.
RBC-Financial-Reward.jpg
13 replies
Member
Nov 13, 2016
222 posts
329 upvotes
Does RBC charge any fees to open those accounts?
If someone's comment helped you, an upvote only takes 1 click!
Sr. Member
User avatar
Aug 19, 2018
622 posts
579 upvotes
I tried this before about a year ago. It is so annoying to claim the contribution. You have to wait for the mail to come, bring it to a branch and have the teller do it for you. It can not be done digitally. Sure hope they updated this and if not I am gonna save myself the trouble.
Deal Addict
User avatar
Feb 18, 2013
1226 posts
4502 upvotes
Despite the "20% off", $0.01 per point is a very poor redemption rate for RBC Rewards.

Converting to WestJet dollars goes on promo a few times a year and gives significantly better value.
Newbie
User avatar
Apr 25, 2011
24 posts
5 upvotes
YVR
Leverage wrote:
Jan 15th, 2019 12:24 am
Despite the "20% off", $0.01 per point is a very poor redemption rate for RBC Rewards.

Converting to WestJet dollars goes on promo a few times a year and gives significantly better value.
Do you have the details handy? What is the ratio with WS convert during promo?
Deal Addict
Jan 16, 2016
1307 posts
932 upvotes
Hamilton, ON
Leverage wrote:
Jan 15th, 2019 12:24 am
Despite the "20% off", $0.01 per point is a very poor redemption rate for RBC Rewards.

Converting to WestJet dollars goes on promo a few times a year and gives significantly better value.
1 cpp is average value, you can buy gift cards for much poorer value tbh. WJ is only good if you fly them. Most everyone can take advantage of these RBC investment certs.
Deal Addict
User avatar
Feb 18, 2013
1226 posts
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tilo wrote:
Jan 15th, 2019 12:28 am
Do you have the details handy? What is the ratio with WS convert during promo?
Link to last RFD thread discussion - converting to those + leverage the new Member Exclusive Fares make for redemption levels way above 1 cpp.
Altera wrote:
Jan 15th, 2019 12:57 am
1 cpp is average value, you can buy gift cards for much poorer value tbh. WJ is only good if you fly them. Most everyone can take advantage of these RBC investment certs.
Converting RBC Rewards to WS has a better cpp and can be fixed for fixed rates with WestJet, Delta, Air France, KLM and Qantas. If an RFDer has no plans to fly any of those airlines in the next few years, then get a crap redemption rate investment cert, sure. ;)
Deal Expert
User avatar
Nov 28, 2013
16103 posts
6166 upvotes
Oakville
In theory, you could convert your points to cash this way by putting it into a TFSA and then immediately withdrawing the cash. It reduces your contribution limit for the year, but if you're not taking advantage of that any way, this is one of the few ways to convert your RBC points directly to cash.
Lucky Koodo $40/6GB (with $15/10GB add-on) recipient
Newbie
Apr 19, 2018
39 posts
20 upvotes
Vancouver
Does anybody have any idea when 20% cash promotion ends?
Thank you.
I am not looking to offend anyone.
Newbie
Apr 19, 2018
39 posts
20 upvotes
Vancouver
muscleking wrote:
Jan 15th, 2019 4:25 am
37500=500 amazon bucks.
I was not able to find it. Where is this deal?
Thank you.

Amazon.ca
Amazon.ca
Amazon.ca Gift Cards* never expire and can be redeemed towards millions of items at www.amazon.ca and certain of its affiliated websites. Amazon.ca's huge selection includes products in Books, Electronics, Music, Movies & TV Shows, Video Games, Software, Home & Garden, Sports & Outdoors, Kitchen & Dining, Computer & PC Hardware, Watches, Home Appliances, Office Products, Camera & Photo, Pet Supplies, and more. Amazon.ca is the place to find and discover almost anything you want to buy online at a great price.

Denomination Quantity Points
$10
-
0
+
1,400 pts
$25
-
0
+
3,500 pts
$50
-
0
+
7,000 pts
$100
-
0
+
14,000 pts
$250
-
0
+
35,000 pts
Add to Cart
I am not looking to offend anyone.
Member
Jul 17, 2012
498 posts
185 upvotes
Kamloops
havercanada wrote:
Jan 28th, 2019 12:30 am
I was not able to find it. Where is this deal?
Thank you.

Amazon.ca
Amazon.ca
Amazon.ca Gift Cards* never expire and can be redeemed towards millions of items at www.amazon.ca and certain of its affiliated websites. Amazon.ca's huge selection includes products in Books, Electronics, Music, Movies & TV Shows, Video Games, Software, Home & Garden, Sports & Outdoors, Kitchen & Dining, Computer & PC Hardware, Watches, Home Appliances, Office Products, Camera & Photo, Pet Supplies, and more. Amazon.ca is the place to find and discover almost anything you want to buy online at a great price.

Denomination Quantity Points
$10
-
0
+
1,400 pts
$25
-
0
+
3,500 pts
$50
-
0
+
7,000 pts
$100
-
0
+
14,000 pts
$250
-
0
+
35,000 pts
Add to Cart
a few months ago i redeemed. i think it's like once a year thing. lots of people chose to redeem hotel cards and other cards. but amazon.ca cards were most popular. i have almost 80k points and i used less than half of that to get 500, all came in 25 bucks cards as the 100 and 250 ones sold out quickly.

found it:

https://forums.redflagdeals.com/30-off- ... 0-2242901/

so 1750points=25 bucks. yeah so i was a bit over actually even better 35000 for 500 bucks.
Newbie
Apr 19, 2018
39 posts
20 upvotes
Vancouver
20% promotion ends.
I wanted to visit RBC to open TFSA there but they ended the promotion.
My new CC is coming. I will be waiting for another promotion.
I am not looking to offend anyone.
Newbie
Jul 8, 2017
83 posts
58 upvotes
havercanada wrote:
Jan 30th, 2019 10:21 pm
20% promotion ends.
I wanted to visit RBC to open TFSA there but they ended the promotion.
My new CC is coming. I will be waiting for another promotion.
For future reference: When you redeem your points for RBC Financial Rewards, they send you a voucher... yes, a piece of paper that you need to take to a branch. You can use your points to order these before opening an account.

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