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Email this7:59 am
January 7, 2020
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New Royal offer, right after the last one expired
4.6% for 3 months on a new account
https://www.rbcroyalbank.com/b.....count.html
9:00 pm
January 7, 2020
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Repeating their previous actions, they now have posted a new offer again, 4.6% for 90 days, this one expiring June 9
https://www.rbcroyalbank.com/b.....count.html
7:54 am
March 15, 2019
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Restricted.
"when you open your first RBC High Interest eSavings account."
11:42 am
April 21, 2022
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COIN said
Restricted."when you open your first RBC High Interest eSavings account."
It's essentially a once-in-a-lifetime offer. They're always looking for fresh meat, those already in meat grinder need not apply.
1:15 pm
March 15, 2019
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Yes, it's like those store opening specials.
Question: What is RBC offering, if anything, to existing clients?
1:31 pm
April 21, 2022
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COIN said
Yes, it's like those store opening specials.Question: What is RBC offering, if anything, to existing clients?
More of the same...nothing. It costs them very little to do nothing for their existing clients = more profit. If people were willing to switch banks like they switch the cell phone providers, I've no doubt banks would be making ' Win-Back ' offers to get their clients back.
1:53 pm
March 15, 2019
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JohnnyCash said
More of the same...nothing. It costs them very little to do nothing for their existing clients = more profit. If people were willing to switch banks like they switch the cell phone providers, I've no doubt banks would be making ' Win-Back ' offers to get their clients back.
'Please, sir, I want some more.'
Source: Oliver Twist
I read somewhere that it cost the banks less to keep an existing client than to gain a new one.
5:33 pm
April 6, 2013
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COIN said
…
I read somewhere that it cost the banks less to keep an existing client than to gain a new one.
Generally not true. An existing customer can cost a business more than finding a new one:
Harvard Business Review
The Value of Keeping the Right Customers
by Amy GalloOctober 29, 2014
Depending on which study you believe, and what industry you’re in, acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one. …
…
The final mistake is not seeing that often a high churn rate is the result of poor customer acquisition efforts. “Many firms are attracting the wrong kinds of customers. We see this in industries that promote price heavily up front. They attract deal seekers who then leave quickly when they find a better deal with another company,” she says. This was the problem many pointed out with Groupon’s business model. Those deals may have helped companies bring on new customers, but they were typically high-churning customers who didn’t stick around to make another purchase when a heavy discount wasn’t offered.
Before you assume you have a retention problem, consider whether you have an acquisition problem instead. “Think about the customers you want to serve up front and focus on acquiring the right customers. The goal is to bring in and keep customers who you can provide value to and who are valuable to you,” says [senior Harvard Business School lecturer Jill] Avery.
8:45 am
January 16, 2017
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Regarding this offer, is the online account opening process simple?
Can the process be completed online and the new account accessed immediately?
9:52 am
January 7, 2020
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You can open online, but you will have to go into the branch to be "verified" before you can access it
12:19 pm
January 16, 2017
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mustang said
You can open online, but you will have to go into the branch to be "verified" before you can access it
It looks like their CSR are not aware of this, or are trained to tell new customers that they can do it by themselves and NOT have to go to a branch...
12:40 pm
April 6, 2013
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Online onboarding of new clients may be possible now with RBC if they have since invested in the required software to do remote photo ID verification and facial recognition/matching.
Some lawyers use such software, like Bluink's eID-Me. A recent mobile phone would be needed.
FINTRAC does not accept "eyeballing" of the photo ID and the applicant over a remote video link for ID verification.
1:47 pm
January 16, 2017
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Norman1 said
Online onboarding of new clients may be possible now with RBC if they have since invested in the required software to do remote photo ID verification and facial recognition/matching.Some lawyers use such software, like Bluink's eID-Me. A recent mobile phone would be needed.
FINTRAC does not accept "eyeballing" of the photo ID and the applicant over a remote video link for ID verification.
Thanks for the information, but it would nice to confirm if one single forum member here has been able to do the full process without going to a branch, like CSRs and website suggest it is.
5:11 am
March 30, 2017
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my experiences with both BMO and BNS are while one can indeed open the accounts and start using it etc, any promotion rate etc for new accounts can be quirky and a branch visit is USUALLY required to make sure everything is setup properly.
6:55 am
October 4, 2018
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Are there any fees associated with this account? My Tangerine promotional offer of 4.20% is running out on Tuesday March 31, 2026 and I'm looking for another promotional offer of equal or greater value.
TD
8:16 am
June 2, 2018
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A few weeks ago, while talking to call center, they said I would qualify for promo, and I proceeded to open account with them over phone.
They said I had to complete process by going to branch and show id.
I did this, and they stated the promo would be reflected into account in a few days.
A few days passed, and chat on line and in branch stated that they could not see rate yet.
I called in a few days later, and they said I do not qualify.
I told them the history, and they said that they would listen to chat when i opened the account.
After this process, they confirmed that the original representative, incorrectly advised i qualified, and opened my account.
They have forwarded this up the line, and it has been close to a week now, and I have not heard back from them. All i have for now is a reference number, and an empty new account, that i will not fund, unless I get further assurances.
What a headache.
Beware
8:27 am
April 6, 2013
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Only those who have never been the primary owner of an RBC High Interest eSavings account before qualify:
9) The Bonus Interest Rate on January 30, 2026 of 4.05% within the RBC New eSavings Client Bonus Interest Rate Offer (“Offer”) is available to residents of Canada who are of the age of majority in the province or territory in which they reside as of the date the Eligible eSavings Account is opened and who were not the Primary Owner of an RBC High Interest eSavings Account at any time before the beginning of the Qualifying Period (as defined below), and who open a new RBC High Interest eSavings Account (“Eligible eSavings Account”) as the Primary Owner between January 30, 2026 and 3:00 PM EST on June 9, 2026 (the “Qualifying Period”). (Note: For added clarity, you will not qualify for this Offer by switching from another account type to an Eligible eSavings Account.) …
RBC's computers will remember if one had an eSavings account before and closed the account.
8:29 am
April 6, 2013
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Top Dogg said
Are there any fees associated with this account? …
Yes. See this post and this discussion.
9:16 am
January 16, 2017
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anitavirginia said
A few weeks ago, while talking to call center, they said I would qualify for promo, and I proceeded to open account with them over phone.
They said I had to complete process by going to branch and show id.
I did this, and they stated the promo would be reflected into account in a few days.
A few days passed, and chat on line and in branch stated that they could not see rate yet.
I called in a few days later, and they said I do not qualify.
I told them the history, and they said that they would listen to chat when i opened the account.
After this process, they confirmed that the original representative, incorrectly advised i qualified, and opened my account.
They have forwarded this up the line, and it has been close to a week now, and I have not heard back from them. All i have for now is a reference number, and an empty new account, that i will not fund, unless I get further assurances.
What a headache.Beware
The exact same thing occured to me. Join the club !
5:05 am
February 6, 2019
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How do you transfer out funds from this account?
I have tried to pull out a few thousands (so not much) using Flinks (via the other FI). Everything went well until I hit the 'Transfer' button. Finks said that this account is not eligible for instant transfer out. This is the first time when I hear something like this.
Anyone else has experienced this issue?
