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Email this7:27 pm
April 6, 2013
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Earn 5.4% interest for 3 Months
Enjoy this limited-time interest rate to help you save more. Simply open your first RBC High Interest eSavings account by 3:00 PM EST on October 31, 2024 to get 5.4% interest for 3 months (on balances up to $1,000,000)
6:17 am
January 16, 2017
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I am completely new to RBC.
Basic question: How do you move funds in and out if you only have this account at RBC ?
ref: https://www.rbcroyalbank.com/products/deposits/onlineservices/e-savings.html#fees
7:21 am
April 6, 2013
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The RBC High Interest eSavings account is not really intended to be the sole account one has with RBC. Withdrawals, except one ATM withdrawal each month, will be $5 each.
A previous discussion explored moving funds in and out with just that one account.
The account can receive direct deposits to move funds in and pre-authorized debits to take funds out. However, $5 would be charged for each pre-authorized debit. Cheques can be ordered for the account. Again, $5 would be charged for each cheque processed against the account.
8:34 am
April 21, 2022
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If opening an eSavings account for the first time, it might be worthwhile also opening a Day-to-Day savings account as it includes one free debit. Funds can be moved between those two accounts with no fee.
https://www.rbcroyalbank.com/accounts/day-to-day-savings.html
2:44 pm
June 2, 2018
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Under the terms and conditions, i see this,
"Any Eligible eSavings Account that, prior to the payment of interest at the Bonus Interest Rate, is closed or switched to another product type which is not an RBC High Interest eSavings Account will forfeit any such interest calculated during the month in which the Eligible eSavings Account is closed or switched"
I am a bit concerned about,
"or switched to another product type which is not an RBC High Interest eSavings Account will forfeit any such interest"
Does transferring all monies out of the account, (going into the branch and asking for a draft for the entire amount) prior to the 90 day ending date, constitute a "switch"? Would I forfeit the last bonus interest payment
I am not familiar with the use of "switch to another product type"
5:41 pm
April 6, 2013
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Yes, you'd forfeit the last bonus interest payment if you closed the eSavings account out to a bank draft. Unfortunately, someone did that and warned about the consequence in RBC Does not pay accrued bonus interest if you close your account.
You would not forfeit if you withdraw the entire balance to a bank draft and left the eSavings account open until after the last bonus interest payment is made.
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