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v_tec · 07-24-2015, 11:18 PM

Credits to a 85+ pages thread on RFD. I'll try to summarize it best to my ability.

Who: ZenBanx
-> An "online" bank without much physical branches similar to Tangerine. Headoffice in Toronto and USA.
-> Started by the same guy that invented ING Direct / (Tangerine today)
-> A subsidiary of DUCA, a credit union with 15 branches in Ontario
-> As such, your deposits up to $100,000 are all insured and protected by DICO (The Deposit Insurance Corporation of Ontario)
-> All Canadians are eligible for an account. You do not need to reside / physically be in Ontario.
-> A SIN card is needed for registration.
-> No monthly fees.
-> Sign up bonus of $10 for referrer and referee. Please don't post any referral links on here as per RS rules.
-> Have an account set up at least 3 business days prior to below promo.
-> An ATM card is available if you wish, approximately 1 week in mail (or longer).

The "Deal"
-> This is the second time around, they had a similar promo for Canada Day.
-> On August 3rd (aka BC Day / Civic Holiday, etc)
-> You can exchange up to $250 CAD for $250 USD on par
-> Today's exchange rate stands at 1.30455
-> Aka, when you transfer it back to CAD, you're at a gain/profit of ~$75 give or take

Steps
1) Sign up for an account on Mobile Account for those who live in Multiple Currencies - ZenBanx in Canada at least 3 business days prior.
2) Link a bank account and/or cheque
3) In ~1-2 busineses days, you will receive 2 "micro deposits" (similar to PayPal, Tangerine, etc)
into your linked bank account. You will need to log back on ZenBanx's website and verify these two amounts.
4) On August 3rd, exchange (maximum) of $250 CAD for $250 USD on par
5) Keep it in your account as USD and hope it will go up
or
6) Exchange it back into your account for CAD.
6a) Withdraw it at an ATM for free.
6b) Transfer it back to your linked account for free.
6c) Use it at Point of Sale purchase for fee-free.
or
7) Keep it as USD. And when you're in the States:
7a) Use it at retail stores as a debit card for free at these specific retail locations:
NYCE Payments Network, LLC
7b) Withdraw it in USD at ATM's for a $3 fee.

Details on it's fee's: http://zenbanx.ca/dms/FeeSchedule.pdf

Hope I covered most of the FAQ's. Let me know if you have any other questions. You can visit their website for more info. There are hints that it may appear again for a Labour Day promotion. But nevertheless, an easy ~$75-85 for this time alone.

07-24-2015, 11:18 PM	#3389
v_tec WOAH! i think Vtec just kicked in! Join Date: Mar 2013 Location: Y Posts: 1,604 Thanked 1,399 Times in 396 Posts Failed 147 Times in 59 Posts	Credits to a 85+ pages thread on RFD. I'll try to summarize it best to my ability. Who: ZenBanx -> An "online" bank without much physical branches similar to Tangerine. Headoffice in Toronto and USA. -> Started by the same guy that invented ING Direct / (Tangerine today) -> A subsidiary of DUCA, a credit union with 15 branches in Ontario -> As such, your deposits up to $100,000 are all insured and protected by DICO (The Deposit Insurance Corporation of Ontario) -> All Canadians are eligible for an account. You do not need to reside / physically be in Ontario. -> A SIN card is needed for registration. -> No monthly fees. -> Sign up bonus of $10 for referrer and referee. Please don't post any referral links on here as per RS rules. -> Have an account set up at least 3 business days prior to below promo. -> An ATM card is available if you wish, approximately 1 week in mail (or longer). The "Deal" -> This is the second time around, they had a similar promo for Canada Day. -> On August 3rd (aka BC Day / Civic Holiday, etc) -> You can exchange up to $250 CAD for $250 USD on par -> Today's exchange rate stands at 1.30455 -> Aka, when you transfer it back to CAD, you're at a gain/profit of ~$75 give or take Steps 1) Sign up for an account on Mobile Account for those who live in Multiple Currencies - ZenBanx in Canada at least 3 business days prior. 2) Link a bank account and/or cheque 3) In ~1-2 busineses days, you will receive 2 "micro deposits" (similar to PayPal, Tangerine, etc) into your linked bank account. You will need to log back on ZenBanx's website and verify these two amounts. 4) On August 3rd, exchange (maximum) of $250 CAD for $250 USD on par 5) Keep it in your account as USD and hope it will go up or 6) Exchange it back into your account for CAD. 6a) Withdraw it at an ATM for free. 6b) Transfer it back to your linked account for free. 6c) Use it at Point of Sale purchase for fee-free. or 7) Keep it as USD. And when you're in the States: 7a) Use it at retail stores as a debit card for free at these specific retail locations: NYCE Payments Network, LLC 7b) Withdraw it in USD at ATM's for a $3 fee. Details on it's fee's: http://zenbanx.ca/dms/FeeSchedule.pdf Hope I covered most of the FAQ's. Let me know if you have any other questions. You can visit their website for more info. There are hints that it may appear again for a Labour Day promotion. But nevertheless, an easy ~$75-85 for this time alone.