Short-Term Promo - Savings 1.50% Up to 2%, Mainly New Clients | RBC Royal Bank | Discussion forum

Interest is calculated daily and paid monthly.

Does anyone know what RBC Bank's transfer-out fee is? Is there an account closure fee for registered accounts?

Max $1,000,000.

Thanks to GR.

Other details here:
https://www.rbcroyalbank.com/investments/psi/feb2021-hisa/terms.html?utm_source=tc&utm_medium=vanity&utm_campaign=invst_wint-hisa

Is there a fee for transferring fund out from non-registered eSavings account?

Norman1 said
There's no fee to transfer funds from the RBC High Interest eSavings to any other RBC Royal Bank personal deposit account in the same name.

Otherwise, it is $5 for each debit, including any preauthorized debits or bill payments. The $5 fee is waived for one ATM cash withdrawal per month.  

Thanks. I don't have any RBC account. Wondering what is the best way to take advantage of this offer. I am going to open an eSavings account and a TFSA or RRSP account. I can link RBC eSavings account to an external account and transfer fund in. But, when I transfer fund out to the external account, I need to pay $5 each time. I think I am going to transfer all funds out by the end of the promotion, and probably need only need 1 transfer.

It looks like there is a Seniors rebate on the chequing account fee which makes a basic one free. Called "Day to Day Banking".

If you are going to try to get this offer, you will need to either have an existing RBC bank account or go into a branch or get an appointment for a videoconference with a bank rep before 3 pm Friday. I would say your appointment should be by 1:30 Friday at the latest. Doing it all online from scratch will incur delays beyond Friday.

We did the videoconference.

We stated clearly at the beginning exactly what we wanted: joint eSavings account and joint day to day day banking chequing account ($4/month) with seniors fee rebate = free, and we didn't want any cheques. We'll deal with the TFSA later.

I counted at least four times when she tried to upsell us with things we didn't want or need which would have cost us money.
At least four times, we repeated that we only wanted eSavings and free chequing with no cheques.

We did not want a package "with many other conveniences". We did not want overdraft protection at $X/month. We did not want "a brand new account which just came out this week which is only $11.95/month". We did not want one of the others on the long list of chequing accounts with fees which she began to recite.

She was not unpleasant. She was just on autopilot, trying to sell things that people don't need or want. If you hadn't already done your research and known exactly what you needed and/or got distracted by all this unnecessary chatter, you would lose.

Accordingly, this process took an hour. And we're not done yet. We have to print out, sign, and email back numerous forms. She ran out of time for that. She could have easily done it all within the hour if she hadn't tried to sell us things we said we didn't want.

Interestingly, she never once tried to sell us a TFSA, the only additional thing that might have mattered to us, and which would increase the interest we receive.

Watch your step, and don't let anyone tread on your toes!

The original link is no longer valid.
Does anyone know if there is a minimum time that you have to have the TFSA in order to maintain the 2% rate in the second half of this promo? With $100 in the TFSA savings account paying absolutely no interest, one would definitely be better off keeping it in the savings account at 2%!