Expired Hot Deals

[ZenBanx] Exchange CAD>USD @ par Aug.3 *NO REFERRAL REQUESTS/POSTS, READ THE OP 1ST*

  • Last Updated:
  • Mar 21st, 2017 4:11 am
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[OP]
Newbie
Oct 28, 2013
9 posts
231 upvotes
Toronto

[ZenBanx] Exchange CAD>USD @ par Aug.3 *NO REFERRAL REQUESTS/POSTS, READ THE OP 1ST*

Deal Link:
Expiry:
August 3, 2015
ZenBanx is doing exchange USD @ par promotion again for Civic holiday (August 3).

Make sure open an account at least 3 business days BEFORE Aug 3rd. It sometimes takes more than couple of days to process cheque deposit or verifying linked account.

As CAD is going down everyday, it's good promo. When they had same promo on Canada Day, I got $250 into $310 after exchanging it back!

Mod note: NO REFERRAL REQUESTS/POSTS PLEASE. They will be deleted and an offender will get an infraction(s), repeated actions or obvious attempts to break the rules may lead to a ban.
Also, do not solicit people your referral links through PM - Referral Discussion in all forms is prohibited. A first user complaint will be a warning infraction, any further ones will lead to a ban.
If you have received an unwanted PM, report the post or PM a mod and it will get taken care of ASAP.


===========================================

Zenbanx MINI-FAQ
zenbanx-exchange-cad-usd-par-again-civi ... st23118725

BIG FAQ Courtesy of Adamking
Link: zenbanx-exchange-cad-usd-par-aug-3-no-r ... st23153709, zenbanx-exchange-cad-usd-par-aug-3-no-r ... st23176511

:! :D isclaimer: Thanks dhna1217 (OP) for bringing this promotion to our attention. I am not not employed by ZanBanx or have any connections with them besides being a customer. Please forgive me if any of the info are not 100% accurate. I'll try my best to update this thread.

Setting up
Note: Typically in the afternoon / early evening, members have been reported of problems with the website loading extremely slow. If it doesn't work - try another web browser or come back again in a few hours.

1) Create an account on https://zbc.zenbanx.ca/ or on its mobile app on Android / IOS.
2) Complete the application form including your SIN, and a ID such as driver license or passport.
3) You will now need to "link" your external account. You have two options:
a) Write a cheque of $250 from and to yourself. Upload it with the mobile app.
b) Input your banks info (transit, institution, and account number).
In 2-3 business days, ZenBanx will then make two "micro" deposits into your bank account.
Check what these amounts are, and verity the amount on your ZenBanx's member profile.
You can now transfer money to/from this "linked" account.
4) Make sure you have $250 in your account prior to August 3rd. Or if you want to exchange less - that's okay too.

The Promotion
Details can be found here: http://zenbanx.ca/par/

1) This is the second time ZenBanx is doing this - first was for Canada Day. This time around, will be on August 3rd - Civic Holiday (or whatever you call it in your respective Province)
2) You can transfer a maximum of $250 CAD for $250 USD on par.
3) You will only receive ~$190 USD immediately. Pending market rate.
4) Within a few days, ZenBanx will top off the difference, giving you now a total of $250 USD

Post-Promotion.
It's up to you how you want to spend your money! There's a few options.
1) Keep it in your ZenBanx account in USD and earn a bit of interest rate.
2) Exchange your $250 USD back to CAD at ZenBanx's market rate. This would be approximately $32X.XX CAD give or take.
Either keep it in your ZenBanx account or transfer it back to your linked external account - free of charge.
3) An ATM will be mailed out to you. Typically it takes 1-2 weeks. Maybe longer now.
4) You can use your ATM card in the United States. Details here on fees here:
a) Use it at specific US retailers listed here: as a debit card. No fee.
b) Withdraw USD at ATMS in the United States for a fee of $3.
5) At this time, you can only link your ZenBanx with CAD deposit accounts. So unfortunately you will not be able to transfer the whole $250 USD balance to your bank's USD account.

FAQ's.
Q: Is this bank legit? I never heard of them before.
A: ZenBanx was started by innovators including Arkadi Kuhlmann - the same guy who bought ING Direct (Tangerine) to Canada. ZenBanx is a subsidy of DUCA - DUCA Financial Services Credit Union Ltd.

Q: What's this $1 on my account?
A: As a ZenBanx customer you become a member of DUCA when you open your ZenBanx account. A $1 one-time DUCA membership fee is initially deducted from your account but reimbursed to your account by ZenBanx.

Q: Are my deposits insured?
A: Up to a combined maximum of $100,000 is insured by DICO providing they are in CAD.

Q: What about my $250 USD or foreign funds?
A: No. DICO only cover eligible Canadian dollar deposits held to a maximum of $100,000.

Q: Do I really need to provide my SIN??
A: Yes, by law financial institutions are required to collect a customer's SIN when opening any bank account where the customer earns interest income.

Q: Do I really have to upload a selfie of myself?!
A: No, you can choose to verify your identity by uploading your driver license or passport instead.

Q: My micro deposits still haven't showed up. How long does it take???
A: Typically 2-3 business days. Maybe longer. Patience!

Q: Can I sign up for my whole family and the whole church?
A: Yes, providing they are over the age of 18.

Q: Is there any sign up or monthly fees to this?
A: No. But be aware there is a $25 dormant fee if an account is inactive for over a year.

Q: I have changed my mind, can I close my account?
A: Yes, log into your account. Click on your picture (or "add photo+") at the top right.
You will now see the option to Close Account and Freeze Account.

Q: I'm signing up and stuck at step 3 waiting for a verification code. How long will this take?
A: YMMV depending on the server load. First check your spam folders. Wait a few hours, if you still haven't received it - give them an email at help@zenbanx.ca or call at 877-ZENBANX during their office hours (Mon-Fri 9am-8pm EST) and they will be more than happy to manually generate another code for you.

Q: The shinny $250 USD I received from this promotion! Can I transfer the whole amount to my XY bank or PayPal's USD account to avoid being hit with a conversion rate?
A: No. And at least not at the moment. You're only allowed to link ZenBanx with a CAD deposit account.

Q: It’s now Wednesday! (or Thurs or Fri or Sat or Sun). Is it too late to sign up?!??!
A: No, but you should do it ASAP. It will take 2-5 days for your account to be fully set up. However! As per ZenBanx’s website http://zenbanx.ca/par/
[QUOTE]Should your account set-up be delayed due to ZenBanx systems and processes we will still honour this promotion until August 17.[/QUOTE]

Q: How long will it take???
- How long will it take for micro-deposits to show up??
- How long will it take for my cheques to clear??
- How long will it take to receive my referral bonuses?
A: Typically 2-3 days. They are mostly done in batches. So YMMV.

Q: I see an Account Total on the top for $250, but the Available Balance is still CAD $0.00 and the CAD currencies is also $0.00.
A: Your cheque and transfer has been initiated but not yet cleared.

Q: How long will it take for an ATM card to arrive?
A: Typically 1 week. Check your member’s profile -> debit card to make sure it’s requested.

Q: I have received my two micro-deposit amounts, now what?
A: Click on the top right corner where your picture is (or “add photo)
-> Linked Accounts -> Your bank name -> Enter the two amounts

Q: I signed up early last week, but my cheque is still not cleared?
A: There might be a chance your cheque did not meet the specifications. Call 1-877-ZENBANX to double check.

Q: I have now linked my external account. How do I transfer my money?
A: Home page -> Canadian Flag -> +Add Money -> Your bank -> $250

Q: The mobile Android / IOS app is not working!
A: Only Android 4.0 and above will will work. (Not sure about IOS). Just use the desktop website.




---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
To Sign Up

You can either visit

https://zbc.zenbanx.ca/ from desktop OR Download the app from app store (search for Zenbanx)

Deposit $250 CAD
On Aug 3, convert that to USD at market rate
They will add the difference

For example (using FX at 1.3):

August 3 - convert $250 CAD to USD
Will deposit $192.31 in your US account
Within a couple of days, you will get a deposit of $57.69 USD to that account
So you now have $250 USD

From there you can keep, or convert back to CAD (at 1.3, it's $325)
Then you can withdraw
(zenbanx-exchange-cad-usd-par-again-civi ... st23118857)


----------MOD Edit---------------------

Courtesy of AdamKing

FAQ #2 / Late Comers

Q: It’s now Wednesday! (or Thurs or Fri or Sat or Sun). Is it too late to sign up?!??!
A: No, but you should do it ASAP. It will take 2-5 days for your account to be fully set up. However! As per ZenBanx’s website http://zenbanx.ca/par/
Should your account set-up be delayed due to ZenBanx systems and processes we will still honour this promotion until August 17.
Q: How long will it take???
- How long will it take for micro-deposits to show up??
- How long will it take for my cheques to clear??
- How long will it take to receive my referral bonuses?
A: Typically 2-3 days. They are mostly done in batches. So YMMV.

Q: I see an Account Total on the top for $250, but the Available Balance is still CAD $0.00 and the CAD currencies is also $0.00.
A: Your cheque and transfer has been initiated but not yet cleared.

Q: How long will it take for an ATM card to arrive?
A: Typically 1 week. Check your member’s profile -> debit card to make sure it’s requested.

Q: I have received my two micro-deposit amounts, now what?
A: Click on the top right corner where your picture is (or “add photo)
-> Linked Accounts -> Your bank name -> Enter the two amounts

Q: I signed up early last week, but my cheque is still not cleared?
A: There might be a chance your cheque did not meet the specifications. Call 1-877-ZENBANX to double check.

Q: I have now linked my external account. How do I transfer my money?
A: Home page -> Canadian Flag -> +Add Money -> Your bank -> $250

Q: The mobile Android / IOS app is not working!
A: Only Android 4.0 and above will will work. (Not sure about IOS). Just use the desktop website.
6350 replies
Member
Nov 24, 2014
327 posts
351 upvotes
Windsor, ON
Impossible.

Edit: Okay, I see a limit exists. I revise my original comment to 'What's the catch?'

Because there has to be a catch. Companies don't just hand out money for free.
Jr. Member
Jul 3, 2002
144 posts
7 upvotes
Mississauga
I don't see any restrictions on people that took advantage of the Canada Day promo either. This is a great deal, especially considering how poor the dollar is at the moment.
Deal Fanatic
Apr 11, 2012
5701 posts
2922 upvotes
Winnipeg
any limit?

Finished signing up on Friday. Hope to make profit on Aug 3.
Deal Addict
User avatar
Dec 9, 2005
3565 posts
1681 upvotes
Ontario
http://www.thestar.com/business/2015/06 ... rvice.html

[QUOTE]The man who introduced Canadians to online-only banking in 1997 is back with a new disruptive financial service called ZenBanx.

Arkadi Kuhlmann, who launched ING Direct Canada, is behind a new mobile-only bank account that can hold, transfer and send multiple currencies at relatively low cost.
“We think the time has come for that type of product,” Kuhlmann, who is chief executive officer of ZenBanx Holdings Ltd., said in a telephone interview Thursday.

Billed as cheaper and easier to use than existing remittance services, ZenBanx is aiming to grab a share of $24 billion a year that is sent outside of Canada by people who live and work here.[/QUOTE]
Kaboom! Kaboom! KABOOM!
Deal Addict
Dec 5, 2010
3432 posts
1224 upvotes
Montreal
is this bank like Tangerine? also most important is there any monthly fees?
Deal Addict
User avatar
Jul 7, 2008
1571 posts
346 upvotes
Toronto
For those wondering, as of yesterday, (As an approximation) $250 USD would net you ~$325 CDN.

So you can net out approximately $75.
Sr. Member
Nov 13, 2013
593 posts
461 upvotes
Quebec
taranducal wrote: Impossible.

Edit: Okay, I see a limit exists. I revise my original comment to 'What's the catch?'

Because there has to be a catch. Companies don't just hand out money for free.
They probably have a foreign exchange hedge so it doesn't cost that much for them and it's a good way to attract new customers, like me :)
Member
Aug 30, 2009
254 posts
98 upvotes
Since it's mobile banking, how do you go about withrawing this money? Or are you forced to spend the ~300$+ CAD we get back through their chequeing account?
Deal Fanatic
User avatar
Jan 27, 2014
5418 posts
2416 upvotes
If anyone wants USD I can exchange with them in person at a bank. I will give you the rate at xe.com (better than exchange rate you'll get from a bank). PM me if interested. I have $2000 USD.
Member
May 22, 2012
295 posts
111 upvotes
Vancouver
SameerAlam wrote: Since it's mobile banking, how do you go about withrawing this money? Or are you forced to spend the ~300$+ CAD we get back through their chequeing account?
I believe they send you an atm card.
Sr. Member
Nov 12, 2012
503 posts
491 upvotes
Mississauga
This aug3 promotion only for new customer or existing too..?
Deal Fanatic
User avatar
Aug 9, 2009
5144 posts
796 upvotes
So how would this exactly work?

I create a new account and link one of my bank accounts to zenbanx and transfer 250 over?

How about after getting the $250 USD. I would have to transfer it out to a USD account right?
Deal Addict
May 12, 2004
2882 posts
377 upvotes
Mississauga
So do we have to upload $250 CAD onto this account before we can make the transfer? Or will it just take the $250 CAD from our regular bank account?
Penalty Box
User avatar
Jul 11, 2008
4368 posts
1494 upvotes
Away from RFD idiots
my oneplus one can't install their app
Deal Addict
User avatar
Dec 9, 2005
3565 posts
1681 upvotes
Ontario
Hopefully they'll also offer a labour day deal. Wish I had know about this before Canada Day. Would make for a cheaper vacation.
Kaboom! Kaboom! KABOOM!

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