16 hidden banking freebies

I asked the big five banks for a list of freebies they provide their clients beyond putting together a financial plan. Four out of the five banks responded.

Here are some of the goodies:

Royal Bank of Canada:

• The RBC Welcome to Canada Package for new immigrant clients  waives daily banking fees for 12 months. Signature no limit banking account fees are not charged for six months.
  
• RBC’s complimentary Get Started Kit includes 15 personalized cheques and a free safety deposit box for 12 months. 
• MyFinanceTracker is a free online money management tool available to clients.
• A multi-product rebates. “If the client has a banking account and two or more eligible RBC Products (Rewards Visa, investment and/or mortgage) they may qualify for a full or partial rebate of their monthly fees,” the bank said in an email. 
• “RBC Rewards” for using certain credit cards and bank accounts. Those points can be used to obtain traditional goodies like travel and merchandise, but also for so-called financial rewards. For example, clients can cash in points to pay down mortgages, loans, lines of credit or they can pad their savings through RRSP, RESP or TFSA contributions.
• Free “practice accounts” so that self-directed investors can learn the ropes of online investing without risking their own money. Clients can buy and sell a wide range of investments with $100,000 of “practice money.”

TD Bank:

TD's  “Bravo” branches offer a variety of good things. Although those services vary by location ( here's  a list from a previous post), they may include the following:

• A free community boardroom for customers, businesses and not-for-profit groups. The room includes video conferencing capabilities along with a printer and fax machine.
• Those branches have a kids’ area that includes free Internet access to pre-screened children’s websites. Adults, meanwhile, get free coffee and Web access.
• Free coin counters (see my previous post) and use of a free document shredder.

 Bank of Montreal:

The SmartSteps program is a way BMO says it helps clients save on fees and interest costs. SmartSteps includes some on-the-spot money saving tips.

BMO SmartSteps for Business includes an online tool designed for small- and medium-sized businesses.

There are also two other segments of the program, SmartSteps for Students and SmartSteps for Investing.

CIBC:

CIBC CreditSmart  is a free tool the bank provides customers to educate them on making responsible credit decisions.

The CIBC Newcomers to Canada Plan also includes some freebies for eligible new immigrant clients. It includes free daily banking for one year. (No monthly fees and no fees on an unlimited number of transactions like withdrawals at CIBC bank machines and branches, writing cheques, paying bills, and pre-authorized payments.)

Newcomers who open a CIBC chequing account can also receive up to $45 cash back if they also open a safety deposit box.

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