Sign up for a new RBC all-inclusive bank account to receive $300 cash deposited into your account come June. You will need to complete one of two transactions in order to qualify for the free money.
Allow me to walk you through this promotion. First, you can select one of two RBC all-inclusive accounts:
RBC Signature No-Limit Banking
This bank account costs $14.95 per month or $10.95 if you have two other RBC accounts/credit cards. The account includes unlimited debits, 15 free Interac e-Transfers per month, and access fees refunded when you use an ATM at another bank. In addition, you will receive a $39 rebate on the annual fee of any eligible RBC credit card if you choose to get one.
RBC VIP Banking
This bank account costs $30 per month or $22.50 when you have two other accounts with Royal Bank. The account has both unlimited debits and unlimited free Interact e-Transfers each month. All access fees are fully refunded when you use this card at another bank. When you apply for an RBC Royal Bank premium card, both the applicant and co-applicant fees will be refunded (once). You will also get two additional Canadian and one U.S. bank account for free.
To keep your expenses low, I suggest the RBC Signature No-Limit Banking account.
After you register for the bank account, you need to complete one of two transactions:
- Set up one (1) regular payroll / direct deposit to your account OR
- Set up two (2) Pre-authorized payments
Once the transactions appear in your new banking account, you qualify for the $300 cash. You will receive the $300 cash bonus by June 15, 2015.
Now, let us talk dates. You need to sign up for the bank account by the 15th of April 2015. Then you need to complete the qualifying transaction(s) by the 15th of May 2015. Within a month of that deadline, you will receive the bonus. Now, I could not find any fine print on how long you have to keep this account open for to qualify for the bonus. Thus, it looks like you can close your account without penalty any time after you receive your bonus. Just a little food for thought if you are bouncing between banks.
Do note that while the $300 is technically free, the account you open does cost a monthly fee.
(Expiry: 15th April 2015)