RBC new chequing account promotion - Apple Watch or $79 iPhone Se

Not sure I read correctly but 14.95$ per month and you have to stay there for a bit

You don't save that much vs just buying the watch

And iirc the first version of the watch is isn't that good

Thanks OP. Pretty nice deal, but just a note to anyone considering this that you will have to stay with RBC for over a year...

Digging through the Terms and Conditions I found this:

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 or pre-authorized payment, at any time before September 29 2018, we reserve the right to debit your Eligible Personal Banking Account or any of your accounts for the value of the Reward you selected (less any amount paid when you selected the Reward) 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 you agree to pay in 30 days.

Reward Model Value
(after any initial payment)
Apple Watch Series 1 - 38mm Case Size MNNG2CL/A,
MNNJ2CL/A,
MNNH2CL/A,
MP022CL/A $ 359.00

Apple Watch Series 1 - 42mm Case Size MNNL2CL/A,
MNNN2CL/A,
MNNM2CL/A,
MP032CL/A $ 399.00

iPhone SE (16 GB) – unlocked (initial payment of $79 required at the time this Reward is selected) MLLP2VC/A,
MLXM2VC/A,
MLLN2VC/A,
MLXN2VC/A $ 500.00

I stayed with Cibc for 2 years when they had their $300 promotion.

Now I am trying to find the cheapest option for business accounts/ credits cards

I don't see a way to waive the charges like there usually is.. is anybody else seeing that/ is that correct?

How long should I keep the account?

Might as well buy the Apple Watch straight out and you will save even more than be locked in with RBC with the scam fees

I know TD and BMO (likely others too) waive monthly fees if you keep a certain amount in the account. RBC never did that and it doesn't seem they do now.

anshen wrote: ↑ How long should I keep the account?

Can only cancel after September 28 2018.
So have to be with them for 16 months.

$14.95 x 16 months = $239.20

Same Apple Watch is frequently on sale in US Target for 199USD. Combine with red card and in store coupon( sometimes), you have the deal

Thatdealguy wrote: ↑ Can only cancel after September 28 2018.
So have to be with them for 16 months.

$14.95 x 16 months = $239.20

. In that case, I would open an account on August 30,2017 to make a shorter term.

Yah, this is a bit more interesting if you happen to be new to canada. Their $14.95 account is then free for 6 months.

Also, does anybody actually have an Apple Watch and can recommend it? I'm not even sure if i'd keep mine or pawn it on Kijiji

hermit1988 wrote: ↑ Same Apple Watch is frequently on sale in US Target for 199USD. Combine with red card and in store coupon( sometimes), you have the deal

Well, you also get the account with free transactions, money orders, interact transfers, etc. Worth something...

Ychanceit wrote: ↑ I don't see a way to waive the charges like there usually is.. is anybody else seeing that/ is that correct?

I have all my accts with RBC, they definitely do NOT waive your fees despite maintaining a balance.

I'm finally making the switch to TD. I just stayed with RBC because I was lazy. TD's $30/ mo plan fee gets waived when your balance is over $5000, which is great as it comes with a tonne of "free" stuff like drafts, waiving your VISA annual fee, small safety deposit box and etc...

mobifree wrote: ↑ I have all my accts with RBC, they definitely do NOT waive your fees despite maintaining a balance.

I'm finally making the switch to TD. I just stayed with RBC because I was lazy. TD's $30/ mo plan fee gets waived when your balance is over $5000, which is great as it comes with a tonne of "free" stuff like drafts, waiving your VISA annual fee, small safety deposit box and etc...

You can get fees waved if you maintain multiple products with RBC, but none of the accounts that qualify for the Watch gets you fully free costs.

So really you're paying about 8.95 over 12 months to get that Watch. 108 bucks (and no HST cuz bank fee, right?) is not bad if you really want a Series 1.

And you happen to already have investments and mortgage with them.

So yeah. Not many folks on RFD are going to qualify.

Elessar wrote: ↑ You can get fees waved if you maintain multiple products with RBC, but none of the accounts that qualify for the Watch gets you fully free costs.

So really you're paying about 8.95 over 12 months to get that Watch. 108 bucks (and no HST cuz bank fee, right?) is not bad if you really want a Series 1.

And you happen to already have investments and mortgage with them.

So yeah. Not many folks on RFD are going to qualify.

Because of the drafts I have the VIP acct..And it doesn't get fully waived despite having all the products.
With TD, I'm getting my fee waived in full for maintaining $5000+.

mobifree wrote: ↑ I have all my accts with RBC, they definitely do NOT waive your fees despite maintaining a balance.

I'm finally making the switch to TD. I just stayed with RBC because I was lazy. TD's $30/ mo plan fee gets waived when your balance is over $5000, which is great as it comes with a tonne of "free" stuff like drafts, waiving your VISA annual fee, small safety deposit box and etc...

That's the best offer right now IMHO.
I have that, and it's pretty good.
They are opened Saturdays and Sundays too.

I know we RFDers are always railing against bank fees, but some RBC packages actually offer excellent value, especially if you travel. And I'm going to switch to the VIP package. I have a mortgage and Direct Investing accounts, so this brings the package down to $19.95 instead of $30.

The VIP package is worth it for couples that like to keep separate bank accounts. You get up to 3 bank accounts (e.g. 1 each and a joint account), free cross-border debits, rebates on Interac fees, and a full rebate on the Aviion travel credit card, which is worth $170 a year with co-card fee.

The card has comprehensive travel insurance for 2 (interruption, cancellation, etc.) and it even has 15 day sof medical. The travel insurance without medical can cost $300 for a 2 week trip for 2 to Europe!

So not bad if you actually use the benefits.

randomroyalty wrote: ↑I know we RFDers are always railing against bank fees, but some RBC packages actually offer excellent value, especially if you travel. And I'm going to switch to the VIP package. I have a mortgage and Direct Investing accounts, so this brings the package down to $19.95 instead of $30.

The VIP package is worth it for couples that like to keep separate bank accounts. You get up to 3 bank accounts (e.g. 1 each and a joint account), free cross-border debits, rebates on Interac fees, and a full rebate on the Aviion travel credit card, which is worth $170 a year with co-card fee.

The card has comprehensive travel insurance for 2 (interruption, cancellation, etc.) and it even has 15 day sof medical. The travel insurance without medical can cost $300 for a 2 week trip for 2 to Europe!

So not bad if you actually use the benefits.

TD has a similar plan, and the fees are waived if you maintain a balance of $5k.