I received notice in the mail recently that the RBC 1% rebate has been paid out in all our 4 accounts that I moved their last year to take advantage of their 1% rebate deal. Basically the offer was that if you transferred any money from other brokerages to RBC they would pay you 1% of the value of the assets. Of course you had to wait for the money – I didn’t receive mine until June of this year so they make sure you can’t just transfer the money, get the rebate and transfer out which makes sense. I only wish they had paid the 1% on current asset value and not the value as of last year which was lower. Given that the transfer involved about 2-3 hours work in total, it was well worth the effort.
Now that the rebate has been paid I can either stay with RBC (not!) or switch back to Questrade discount brokerage since I rather like them.
Did anyone else take advantage of this deal? Are you staying with RBC or switching to another discount broker?
If you are planning to move back to Questrade then read about the Returning to Questrade deal on transfer fees.
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