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Royal Bank

(warm) Get $300 on new account is back

  • Last Updated:
  • Feb 24th, 2021 9:26 am
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-15?
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13 replies
Feb 23rd, 2021 4:14 pm
incode
Newbie
Nov 20, 2018
66 posts
300 upvotes

Feb 23rd, 2021 4:14 pm

OP, mention the fact that the monthly fee of $15.95 can't be wavied even with a min.
+18
Feb 23rd, 2021 4:26 pm
Temporel
Deal Guru
User avatar
Apr 10, 2011
12402 posts
24578 upvotes
Montreal

Feb 23rd, 2021 4:26 pm

It would be useful if someone familiar with this could post a summary of the conditions. :)
+1
Feb 23rd, 2021 4:27 pm
CheapMang
Deal Addict
Feb 4, 2017
1513 posts
1964 upvotes
Toronto

Feb 23rd, 2021 4:27 pm

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.
+1
Feb 23rd, 2021 4:35 pm
Richard1986
Deal Addict
User avatar
Mar 18, 2011
2445 posts
2178 upvotes
Pickering

Feb 23rd, 2021 4:35 pm

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 $75/60GB/BYOD
Bell EPP $40/20GB + $40/50GB/BYOD
+2
Feb 23rd, 2021 4:35 pm
SohSay [OP]
Member
Feb 18, 2019
473 posts
1196 upvotes
Toronto

Feb 23rd, 2021 4:35 pm

there is a limited chequing account , monthly fee is $4
+1
Feb 23rd, 2021 4:37 pm
Richard1986
Deal Addict
User avatar
Mar 18, 2011
2445 posts
2178 upvotes
Pickering

Feb 23rd, 2021 4:37 pm

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 $75/60GB/BYOD
Bell EPP $40/20GB + $40/50GB/BYOD
+1
Feb 23rd, 2021 4:45 pm
hagbard
Deal Expert
User avatar
Dec 19, 2001
31347 posts
2022 upvotes
Fernando Poo

Feb 23rd, 2021 4:45 pm

Worst CDN bank ever. Followed by HSBC and Scotia Bank.
Welcome to the Minitrue FDs, Ficdep
+7
Feb 23rd, 2021 4:53 pm
ADIDAD
Sr. Member
Sep 11, 2011
816 posts
512 upvotes
Alberta

Feb 23rd, 2021 4:53 pm

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.
+1
Feb 23rd, 2021 5:11 pm
scoper
Deal Guru
Aug 5, 2006
10315 posts
7462 upvotes
Global Village

Feb 23rd, 2021 5:11 pm

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
+1
Feb 23rd, 2021 5:14 pm
Temporel
Deal Guru
User avatar
Apr 10, 2011
12402 posts
24578 upvotes
Montreal

Feb 23rd, 2021 5:14 pm

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
+1
Feb 23rd, 2021 6:16 pm
tfong010
Deal Addict
Apr 6, 2017
1299 posts
2282 upvotes
GTA

Feb 23rd, 2021 6:16 pm

This is what happens when you have an oligopoly. Every time a new player makes strides one of the big boys buys them.
+1
Feb 24th, 2021 9:11 am
SohSay [OP]
Member
Feb 18, 2019
473 posts
1196 upvotes
Toronto

Feb 24th, 2021 9:11 am

hagbard wrote: ↑ Worst CDN bank ever. Followed by HSBC and Scotia Bank.
Which bank is good?
+1
Feb 24th, 2021 9:26 am
batcave
Deal Fanatic
User avatar
Nov 14, 2003
6425 posts
5070 upvotes
LaLaLand

Feb 24th, 2021 9:26 am

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.
+1

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