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Royal Bank

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

[OP]
Newbie
May 3, 2017
3 posts
15 upvotes

[Royal Bank] RBC new chequing account promotion - Apple Watch or $79 iPhone Se

Was offered this yesterday but only found link today. For new accounts of their $14.95 a month or $30 a month accounts.

Apple Watch Series 1, with your choice of size & colour:
MNNG2CL/A, MNNJ2CL/A, MNNH2CL/A, MP022CL/A, MNNL2CL/A, MNNN2CL/A, MNNM2CL/A, MP032CL/A

Unlocked 16GB iPhone SE, with your choice of colour, for $79:
MLLP2VC/A, MLXM2VC/A, MLLN2VC/A, MLXN2VC/A
158 replies
Deal Addict
Nov 28, 2013
2735 posts
1157 upvotes
Quebec
Not sure I read correctly but 14.95$ 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
Deal Addict
Jul 27, 2016
1312 posts
1764 upvotes
Ottawa
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
Deal Addict
Dec 25, 2013
1063 posts
650 upvotes
Toronto
I don't see a way to waive the charges like there usually is.. is anybody else seeing that/ is that correct?
Member
May 19, 2012
387 posts
215 upvotes
Toronto
How long should I keep the account?
Deal Addict
User avatar
Jan 28, 2004
1332 posts
1043 upvotes
Toronto
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
Deal Addict
User avatar
May 22, 2006
2436 posts
1107 upvotes
Toronto
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.
Sr. Member
Mar 6, 2010
747 posts
109 upvotes
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
Member
May 19, 2012
387 posts
215 upvotes
Toronto
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.
[OP]
Newbie
May 3, 2017
3 posts
15 upvotes
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
Deal Addict
User avatar
Sep 4, 2007
3098 posts
1711 upvotes
Canada
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...
Deal Addict
Feb 22, 2009
3285 posts
3229 upvotes
Whitby
may as well offer you a box. (simpsons) banks are so shady.
Deal Addict
User avatar
Mar 26, 2011
2609 posts
680 upvotes
Toronto, ON
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...
Member
User avatar
Nov 29, 2003
376 posts
138 upvotes
North York
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.
Deal Addict
User avatar
Mar 26, 2011
2609 posts
680 upvotes
Toronto, ON
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+.
Deal Addict
User avatar
Oct 20, 2013
1169 posts
473 upvotes
Chambly, QC
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.
Deal Addict
User avatar
Jan 24, 2009
1309 posts
961 upvotes
Montreal
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.
Sr. Member
Apr 27, 2010
634 posts
250 upvotes
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.

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