New Momentum Plus Savings Acoount | Page 2 | Scotiabank | Discussion forum

ponyFlower said
In 2025, I used promotions from Manulife, RBC, Vancity, Meridian, and CIBC without any problems at all. The only one that did not work out for me was Scotiabank. I eventually closed that account because they were unable to resolve the issues, whether over the phone or in person.

I spent hours on the phone with them, and it often felt like no one really knew what was going on. Visiting the branch was just as unhelpful as the calls. In the end, it turned into a significant waste of time, and I would not go back.  

Thanks for sharing. I will look somewhere else, even if the rate is slightly lower.

COIN said
How were you able to get an RBC promo? Do you have an RBC contact and/or walked into an RBC branch?
"In 2025, I used promotions from Manulife, RBC, Vancity, Meridian, and CIBC"  

https://www.rbcroyalbank.com/bank-accounts/savings-accounts/high-interest-savings-account.html

I just opened the account by phone. No chequing account needed. They keep renewing this offer. Scotiabank is the only one I’d avoid.
I’m currently using the 4.6% BMO offer.

rk said

Thank you, I will consider it. Any reason you phoned to open the account, as opposed to opening it online? I do not bank with RBC at the moment, so I would be a new customer. In previous years, did you close the account after the promo expired? (that is what I usually do, but some FIs charge you if you close an account sooner than they want you to)  

I was a new RBC customer. It wouldn’t let me do it online, so this was the fastest way to get my identity verified. The woman on the phone wasn’t exactly quick, but after a pretty slow process she did manage to get it done. For my current BMO account, I was able to open it online, but I still had to go into a branch to get verified, so in the end it wasn’t really any better and actually took more time.

Honestly, the big banks are all pretty archaic. For my primary banking I use an online FI, and I’m really just hopping around with the big banks for the promos.