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[Royal Bank] (warm) Get $300 on new account is back

  • Last Updated:
  • Feb 24th, 2021 9:26 am
[OP]
Member
Feb 18, 2019
284 posts
706 upvotes
Toronto

[Royal Bank] (warm) Get $300 on new account is back

Limited Time Offer
Switch to RBC and get up to $300
When you open an eligible RBC bank account.

Offer ends March 31, 2021. Conditions apply.
13 replies
Newbie
Nov 20, 2018
33 posts
219 upvotes
OP, mention the fact that the monthly fee of $15.95 can't be wavied even with a min.
Deal Fanatic
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Apr 10, 2011
5288 posts
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Montreal
It would be useful if someone familiar with this could post a summary of the conditions. :)
Sr. Member
Feb 4, 2017
823 posts
610 upvotes
Toronto
RBC is the only bank of the big 5 that do not require minimum balance to waive fees. Instead, they require you to sign up to multiple products to waive or lower the monthly fee. Not my preference but maybe for people who can't keep a minimum balance.
Deal Addict
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Mar 18, 2011
1327 posts
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Pickering
incode wrote: OP, mention the fact that the monthly fee of $15.95 can't be wavied even with a min.

Went to Tangerine and closed all but my eSavings/Investment accounts with them. Good riddance.
CTC employee

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[OP]
Member
Feb 18, 2019
284 posts
706 upvotes
Toronto
there is a limited chequing account , monthly fee is $4
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Mar 18, 2011
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Pickering
SohSay wrote: there is a limited chequing account , monthly fee is $4

I could be wrong, but, that account doesn't seem to be eligible, according to your link.
CTC employee

Sport Chek / Canadian Tire / Party City discount
Telus EPP $50/20GB/BYOD
Bell EPP $50/20GB/BYOD
Deal Expert
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Dec 19, 2001
30915 posts
1754 upvotes
Fernando Poo
Worst CDN bank ever. Followed by HSBC and Scotia Bank.
Sr. Member
Sep 11, 2011
737 posts
394 upvotes
Alberta
Basically same offer as the iPad one that just ended. Only difference is the iPad is worth $400+tax, and it costs about $200 to keep the account open for 12 months to keep the reward. So it's "only" a profit of $100 vs ~$200+ if you wanted the iPad. Not really worth it considering the other banks often have $300 account offer openings without needing to keep account open for an entire year, or they have the ability to waive the fees.
Deal Fanatic
Aug 5, 2006
5780 posts
2803 upvotes
Global Village
RBC needs to stop punishing their customers with these mandatory chequing account monthly fees. Maybe the govmt needs to step in and make them illegal or optional.
All day I dream about sports
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Apr 10, 2011
5288 posts
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Montreal
scoper wrote: RBC needs to stop punishing their customers with these mandatory chequing account monthly fees. Maybe the govmt needs to step in and make them illegal or optional.
The government and the banks have come to an agreement (to avoid being regulated on that matter). Banks must offer a minimal fee account (with chequing) for a maximum of $4 per month.

https://www.canada.ca/en/financial-cons ... -cost.html
Sr. Member
Apr 6, 2017
820 posts
1294 upvotes
This is what happens when you have an oligopoly. Every time a new player makes strides one of the big boys buys them.
[OP]
Member
Feb 18, 2019
284 posts
706 upvotes
Toronto
hagbard wrote: Worst CDN bank ever. Followed by HSBC and Scotia Bank.
Which bank is good?
Deal Addict
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Nov 14, 2003
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Gotham
SohSay wrote: Which bank is good?
None of them really. Some like the 'free' banks (simplii, Tangerine, PC, etc.).

I got a similar deal with CIBC, but it also included the fee waiver to a credit card. To avoid any account fees, I need to keep $6000 in the account or have $100k in investments. This makes more sense to me.

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