RBC Promo: Open a New Bank Account, Get a Free iPad mini [u]

RBC has a new promo starting Monday which will offer a free iPad mini for those who open a new bank account. Here’s what will make you eligible for the free iPad mini:

  • Open a Signature No Limit ($14.95/month) or VIP bank account ($30/month)
  • Have your payroll or direct deposit direct into the account OR two pre-authorized payments (such as bills)

Your iPad mini will be delivered in 6-8 weeks. The promo starts on Monday, April 14 and goes until October. According to discussion on this offer over at RedFlagDeals, the free iPad is said to be a Retina model (worth $419 CDN); we’ll update this post once it’s confirmed or not.

Let us know if you would be interested in jumping on this. If you were about to open one of these accounts with RBC, it might be worth it.

[via RFD]

Update April 13, 2014: RBC has made this promo official on its website and from the FAQ, it confirms it’s a Retina iPad mini. We’ve pasted a few answers from their FAQ which should clarify the deal and its terms.

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Do I qualify for this offer if I upgrade my account to the RBC Signature No Limit or the RBC VIP banking account?

No. This offer is only for clients who are new to RBC or do not currently conduct their everyday banking with RBC. Upgrades do not qualify for the iPad mini offer.

How long do I have to meet the qualification criteria for the iPad mini?

Your automated and recurring direct deposit or second pre-authorized payment must appear on your Signature No Limit or VIP Banking account before August 31st, 2014. Transactions processed later than this date will not qualify for the iPad mini offer.

Can I exchange my iPad mini for another product?

No, you will receive the Apple iPad mini 16GB with Retina display WiFi, 16GB, model #1489, which is not exchangeable for any other product.

From the fine print:

  1. RBC has the right to charge your account or send you an invoice for $319 plus applicable taxes if your Eligible Personal Deposit Account is closed or downgraded at any time prior to August 31, 2015.

Here’s how RFD forum member PCDawg characterizes this offer:

if you think about, it, this is a great deal, sign up right before the promo is over, do one deposit from work and the ipad is yours for ~131.40 if you get the account with a basic free credit card

Update April 14, 2014: RBC has updated its terms to indicate this is no longer a Retina iPad mini, but a non-Retina model.

Founder and Editor-in-Chief of iPhoneinCanada.ca. Follow me on Twitter, and @iPhoneinCanada, and on Google+.

  • mrideas

    Wow. Cheapest way ever to get an iPad. Pay a few months fees and voila new iPad.

  • It’ll be interesting to see how long they will make you keep your account open for.

  • ?suttonmontreal

    i hope this works in Montreal too

  • Peter Pottinger

    How would this work, can banks require you to keep an account under a certain plan for years?

  • Harold Mitchell

    My thought exactly.

  • Vancouver Brian

    I think it’s pretty clear. After you’ve set up the dierct deposit, you’ll wait 6-8 weeks.
    After that, nothing is keeping you there.

  • iFone

    Oh you should see what the fine print sometimes include. You’d be surprised!!

  • reformcanada

    I’ll stick with my free TD account thanks. I’ve had enough of RBC. This definitely will have strings.

  • Shier

    And as a current RBC customer how do I jump on this lol

  • DravenInc

    I will definitely be checking this out…have a 1st gen Mini already, but kind of wanting a full size…get this, sell it, and put the proceeds towards a full size iPad Air…sweet

  • Red

    no strings on how long to keep the account open for..I know because I work there.

  • theman

    perfect
    lets see

  • Chris Zhu

    same question

  • wah_gee

    It goes to show how much profits the banks are making from investments, mortgages, credit cards. I’d rather have higher return of interest on my accounts – that’s if the banks were willing to share profits with their customers.

  • Daniel Lyu

    Well guys, original RFD thread poster actually edited the post saying ‘please delete’ This promo could be just terminated before it’s born….

  • Anon

    Do you honestly think they are just gonna give out iPads for free, and let you cancel shortly afterwards? They are a bank after all and aren’t that stupid. It’s guaranteed you there will be a yearly plan you will be locked into.

  • mike

    Its another contract offer now banks too

  • chickeee

    open another $30/m bank account

  • sukisszoze

    So tempting…do I need another iPad..hmmm

  • Tim

    Damn, that has to be my bank, I bet existing customers can’t get this

  • Junior C

    Just called RBC and only new customers that have no dealing with rbc are eligible and the account must be kept for a least one year.

  • Carrie

    No, once you have the two pre-authorized payments go through you can cancel. If you want to ask them about it just call them at 1-800-769-2511.

  • Anon

    Rbc can’t, or won’t at least.

  • Update April 13, 2014 @ 9:36PM PDT: Added a link to the official offer on RBC’s website. It’s a Retina iPad mini that’s being offered.

  • Sam

    Too bad it’s with the condition that your account stays open until at least Aug 2015, otherwise they charge you for the price of the iPad

  • Adam

    I believe it’s more the Just getting a free credit card to merit the discount of 131$. You need an investment and a mortgage with them to qualify for the discount.

  • Lee

    Looks like you didn’t read the fine print Red

  • WorldWideWebpolice

    Fine Print:
    RBC has the right to charge your account or send you an invoice for $319 plus applicable taxes if your Eligible Personal Deposit Account is closed or downgraded at any time prior to August 31, 2015.

  • gscqh

    Not that great of a deal, unless you need a new bank account. If you sign up now its 14.95 a month (that’s 16 months) to get to the middle of august 2015 plus another month because you have to stay with them until august 31, 2015. Works out to $254.15 and the reduced monthly fee of 10.95 down from 14.95 only applies if you have an investment, credit card and a mortgage (all three).

    A new iPad mini 16GB retina cost $419 minus the 254.15 and your only saving $164.85

  • adam

    Deal isnt hot any more, they went and modified the terms, its now just an old Ipad mini, which I bought for less then 300$ last year lol. they removed retina from terms.

  • MrXax

    Well, it’s 16 months (starting May 1) at a minimum of $15. Paying $240 for a Retina iPad Mini is still a great deal, but it’s hardly “a few months fees.”

  • Flaxx

    They changed the terms of agreement! It now says “No, you will receive the Apple iPad mini 16GB, WiFi, 16GB, model #1432, which is not exchangeable for any other product.” That is a old iPad mini (non-retina). I was interested until that revelation. For the amount of time involved and hassle, I’d rather get a used one off Kijiji/Craigslist.

  • Mathieu

    Hey Gary, they changed the model in the fine Prints !! non-retina now..

    -No, you will receive the Apple iPad mini 16GB, WiFi, 16GB, model #1432, which is not exchangeable for any other product

    -The Offer
    Providing you fulfill the conditions set out in Sections 1.1, 1.2 and 1.3 below, you may earn the following during the Promotional Period:
    Apple iPad mini WiFi, 16GB, model #1432 (“iPad”).

  • MG

    Fine prints have changed, it’s not the Retina version (1489)

    -You will receive the Apple iPad mini 16GB, WiFi, 16GB, model #1432, which is not exchangeable for any other product

    -The Offer
    Providing you fulfill the conditions set out in Sections 1.1, 1.2 and 1.3 below, you may earn the following during the Promotional Period:
    Apple iPad mini WiFi, 16GB, model #1432 (“iPad”).

  • Thanks. Very interesting RBC…

  • kim

    can you get the shoppers optimum points account,and ipad mini

  • John

    How can we confirm that RBC won’t send you a bill of 319$+ tax

  • John

    How can we confirm this

  • mrideas

    Yes when I commented I hadn’t seen the final details. I agree not such a great deal and even worse now that it’s an iPad mini and no retina display. Although it’s a pretty easy way to get an iPad on a service charge payment plan of $14.95 a month. Still saves you about $100 or so depending on when you open your account. However it’s a lot of effort for minimal savings.

  • gary

    Red if you work there then I would expect that you’re well versed on its terms and conditions. Please note that the RBC mini i-pad offer, according to your web-site can’t be downgraded to a lower service fee package or closed down before August 31, 2015 otherwise RBC will send you an invoice for $319 + taxes.

  • suria

    i went in a rbc branch to have more info, actuallly you can not cancel the plan you would be in until august 31 of next year. unless u pay off the ipad’s balance fee.

  • suria

    the worst is that its not even the retina one, its an old version of ipad mini.

  • Derpina.

    If you cancel before August 31, 2015 you will be charged the $319.00 that the ipad mini costs. Derp. Always read the fine print.

  • Derpina.

    The ‘strings’ are that you have to keep the account for a year which isn’t that bad. I can tell you from a professional aspect that TD is terrible. If you one of your accounts with them is compromised, you are screwed. They do not co-operate with authorities to help YOU resolve your issue(s). Any bank is better than TD.

  • Vette

    I just opened an account with RBC two weeks ago. I wasnt informed about this,can i still avail to this promo?

  • elaina

    are you not reading the article. it clearly says RBC has the right to charge you 319$ if you decide to close your account before august 2015. your committed to a year of banking with them before you can decide to leave.

  • HP

    Is your offer with iPad mini still available??

  • angelic

    do they actually give u an ipad mini for free

  • marte yaquit

    i have an account to td if i swicth to RBC do i need to inform my employer or should i give a free authorize payment to my employer and im qualified for this promotion if i switcth to rbc.

  • kosher connection

    Close account then and reopen

  • Brad Henson

    I am very disappointed in RBC all the headaches not to get a Free Mini. I was recruited to open an account with a free IPAD mini. They stated to me that I would receive a free Ipad mini just a few days ago. My wife said where is it? They said we didn’t meet the requirement as stated. Their first reason is that I am not a resident. Then I explained that I own a house and pay utilities each month in Canada. After they knew that wouldn’t work with me then they said I didn’t make preauthorized payments in time. Not True.
    I’m done with RBC.

  • Rose

    I did all this never received ipad