Canadian banking [#1]: How banks fight for clients

The first thing we did upon our arrival to Canada was opening bank accounts with Canadian banks. The next thing was a surprise about promotions they do to attract new clients.

Basically, by opening a bank account and setting up payments or a direct payroll deposit to your new account they give you free stuff! And it’s not a lottery. Once you set up your payments or direct payroll deposit they automatically ship it to your mail address!

Royal Bank of Canada

All you need to do is to set up a payroll deposit to your all-inclusive bank account. Alternatively, you setup cellphone & Internet bill payments with RBC. Either way you get an iPad Mini by mail. You don’t even need to go to a bank office to pick it up! Apple fans should be happy πŸ™‚

TD Canada Trust

Specifically for Android lovers, TD Canada Trust gives you a little more flexibility. In order to get a new Samsung Galaxy Tab 4, they require you to do 2 of the following 3:

  • Setup a direct payroll deposit
  • Setup one bill payment thru their Internet bank
  • Setup one direct pre-authorized payment from your account (cellphone, for instance)

Bank of Montreal

Don’t know the exact terms, but they don’t bother with picking one or another side of a battle between Google and Apple. They give you cash so you can choose yourself πŸ™‚


P.S. We ended up opening a joint all-inclusive account with RBC (we’re linking Internet bills and PayPal to it) and two separate accounts with TD Canada Trust. I’m setting up a direct payroll deposit and my cellphone bills there, and my wife sets up her cellphone bills and BC Hydro with their Internet bank. Let’s see if we end up with 2 Samsung Galaxy tablets and one iPad Mini πŸ™‚ Speaking of souvenirs & presents from Canada…

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2 Responses to Canadian banking [#1]: How banks fight for clients

  1. Denis Gladkiy says:

    Nice : )

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