Some financial institutions offer bonuses when opening an account.

1) ING Bank - free $13 to the account holder & the new referral.
2) ING Mortgage - the account holder & friend who opens a mortgage each get $300!
3) Amex Bank - free $10 to both. You need a current account holder to make the referral.
4) RBC Leo's Young Savers Account- my preschooler got a free $5 deposit so check with your local branch. A good start for children to become better savers than their parents!
5) TD Canada Trust - some offers offer a free piggy bank for a no-fee child account.

Originally posted by eBuddy Some financial institutions offer bonuses when opening an account. 1) ING Bank - free $13 to the account holder & the new referral. 2) ING Mortgage - the account holder & friend who opens a mortgage each get $300! 3) Amex Bank - free $10 to both. You need a current account holder to make the referral. 4) RBC Leo's Young Savers Account- my preschooler got a free $5 deposit so check with your local branch. A good start for children to become better savers than their parents! 5) TD Canada Trust - some offers offer a free piggy bank for a no-fee child account.

Also, Citizen's Bank has a new promotion till November 22nd

Citizen's Bank: Free $50 to the account holder and free $50 to the new referral

Unfortunately, Citizens Bank does not seem to allow online deposits, e.g., make irregular transfers from your bank account. ICICI Bank's 2.5% and Manulife Bank's 2.35% no-fee online savings accounts are much better.

Originally posted by yewhou Citizen's Bank: Free $50 to the account holder and free $50 to the new referral

Originally posted by eBuddy Unfortunately, Citizens Bank does not seem to allow online deposits, e.g., make irregular transfers from your bank account. ICICI Bank's 2.5% and Manulife Bank's 2.35% no-fee online savings accounts are much better.

I have been using Citizens Bank for the past 2 years and I was able to link my other bank accounts (Royal bank, President's Choice Financial) with Citizens Bank to transfer funds between them. Also the current promotion of $50 bonus for opening a new Investment account is great. However, you do need a current member to refer you to get the bonus.

Originally posted by winegumboy I have been using Citizens Bank for the past 2 years and I was able to link my other bank accounts (Royal bank, President's Choice Financial) with Citizens Bank to transfer funds between them. Also the current promotion of $50 bonus for opening a new Investment account is great. However, you do need a current member to refer you to get the bonus.

But this is an Investment account, right? What sort of restrictions do they put on your money? Is it something you can withdraw quite easily without any penalties?

Originally posted by vincent_voltair But this is an Investment account, right? What sort of restrictions do they put on your money? Is it something you can withdraw quite easily without any penalties?

This is their Investment Savings Account. They have the same restrictions as other banks. If you deposit a cheque for a large amount, they will hold it like any other bank. There are no penalties for withdraw as it is not a GIC and money can be easily be taken out by ATM or transferred by internet, or phone banking to your linked accounts at other banks. Their accounts are covered by CDIC and they are a subsidery of Vancouver Savings Credit Union.

With their current promotion, it is a good deal to join; however, you need to be referred by a current member.

Also, after joining, a new member can refer a friend or family member and both get $50.00 bonus each.

I opened a Citizens Bank account to get the $50, so if anybody else wants to get $50, PM me your email address. Unfortunately, the deadline for Citizens' great offer is coming up soon on Monday, November 22.

Originally posted by eBuddy I opened a Citizens Bank account to get the $50, so if anybody else wants to get $50, PM me your email address. Unfortunately, the deadline for Citizens' great offer is coming up soon on Monday, November 22.

Also, good information to know about the current promotion.
A new member can only sign up 1 more person to get the bonus.
It is not unlimited referrals for new members.

You are misreading the terms. Once you are a member, you can have "endless referrals" & earn $50 for each person. Unfortunately, it takes a couple of weeks to have the account opened, so my relatives had to give me their email addresses all at once in order to earn the $50 bonus in time for the November 22 deadline, since time will run out to refer other people themselves.

So anybody that is not a member yet needs to be referred ASAP & prepare the following documents for mailing this week:

· A copy of two (2) pieces of identification (photocopied front and back to clearly identify your signature), ensuring that one piece of identification is government issued. A secondary piece of identification can include a major credit card or health care card.
· A personalized cheque (including address) drawn on your personal account at another Canadian bank or credit union made payable to yourself for a minimum of $500, for your initial deposit into your new Citizens Bank account.
· Verification of your physical address. We will accept a copy of a recent utility or cable bill, or lease agreement (from a leasing company, not a private landlord).

By the way, one should avoid joint accounts so that each separate member will earn the $50, i.e., PM separate email addresses.

Originally posted by winegumboy A new member can only sign up 1 more person to get the bonus. It is not unlimited referrals for new members.

I signed up for this too. I'm just bumping it because its the best deal around.
Also you can PM me for referrals too...

Or you can PM me for a referral too!

redflagdeals has this deal posted to their front page. You can get a referral from their thread on the subject by posting your email in the comments here...

Why get the referral from Juju's competitor, when you can get the $50 referral right here?!

We don't allow referral links due to the potential abuse by people posting just to make money (i.e. spam-vertising), but anyone is free to ASK for a referral.

Just reply with "Someone one refer me!" (use PMs, let prone to email harvesting bots)