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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
364 posts
994 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
66 posts
300 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
9250 posts
16742 upvotes
Montreal
It would be useful if someone familiar with this could post a summary of the conditions. :)
Deal Addict
Feb 4, 2017
1121 posts
1207 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
1742 posts
1347 upvotes
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
Sport Chek / Canadian Tire / Party City discount
Telus EPP $50/20GB/BYOD
Bell EPP $50/20GB/BYOD
[OP]
Member
Feb 18, 2019
364 posts
994 upvotes
Toronto
there is a limited chequing account , monthly fee is $4
Deal Addict
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Mar 18, 2011
1742 posts
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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
31347 posts
2013 upvotes
Fernando Poo
Worst CDN bank ever. Followed by HSBC and Scotia Bank.
Welcome to the Minitrue FDs, Ficdep
Sr. Member
Sep 11, 2011
788 posts
469 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
7694 posts
4593 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

My Banks: Tangerine, Meridian, EQ Bank, Simplii
Deal Fanatic
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Apr 10, 2011
9250 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
Deal Addict
Apr 6, 2017
1054 posts
1639 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
364 posts
994 upvotes
Toronto
hagbard wrote: Worst CDN bank ever. Followed by HSBC and Scotia Bank.
Which bank is good?
Deal Fanatic
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Nov 14, 2003
5268 posts
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LaLaLand
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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