[ZenBanx] Exchange CAD>USD @ par again for Civic Holiday

[chcher]

ZenBanx is offering a promotion to get $250 USD for $250 CAD on August 3, 2015.
The person who started ZenBanx, had previously started ING Direct (now called Tangerine) and is looking to make a more flexible and cheaper bank for people who travel or deal with multiple currencies.

Similar Canada day promotion
http://www.thestar.com/business/2015...e-service.html

Make sure open an account at least by Aug 2nd. From the Zenbanx terms and conditions on the promo offer:

Should your account set-up be delayed for circumstances beyond your control, ZenBanx will still honour this promotion until August 17.

It sometimes takes more than couple of days to process cheque deposit or verifying linked account.

You can have accounts in multiple currencies, like USD, EUR, GPB, JPY, etc. Their exchange rates are really good. Plus, when you open an account you get a debit card mailed to you that can be used all around the world to pay for things or withdraw cash.

As CAD is going down everyday, it's good promo.

When they had same promo on Canada Day, I got $250 into $310 after exchanging it back!


===========================================


To Sign Up:
You can visit

https://zbc.zenbanx.ca/ from desktop

If anyone is looking to make an account, please use the referral link in my signature from the post below.
A referral link registration with give us both $10 each.

Deposit $250 CAD
On Aug 3, convert that to USD at market rate
They will add the difference

For example (using FX at 1.3):

August 3 - convert $250 CAD to USD
Will deposit $192.31 in your US account
Within a couple of days, you will get a deposit of $57.69 USD to that account
So you now have $250 USD

From there you can keep, or convert back to CAD (at 1.3, it's $325)
Then you can withdraw

Please feel free to PM me for any questions

Thanks,
Cher

[chcher]

For those wondering if this is legit. News on their similar Canada Day promotion
http://www.thestar.com/business/2015...e-service.html

The man who introduced Canadians to online-only banking in 1997 is back with a new disruptive financial service called ZenBanx.

Arkadi Kuhlmann, who launched ING Direct Canada, is behind a new mobile-only bank account that can hold, transfer and send multiple currencies at relatively low cost.
“We think the time has come for that type of product,” Kuhlmann, who is chief executive officer of ZenBanx Holdings Ltd., said in a telephone interview Thursday.

Billed as cheaper and easier to use than existing remittance services, ZenBanx is aiming to grab a share of $24 billion a year that is sent outside of Canada by people who live and work here.

[seylz_gurl]

interesting...looks like Duca Credit Union is going to be their 'back office' but to do transactions you need to do them on a smart phone? fairly reasonable charges to wire money too.

[chcher]

interesting...looks like Duca Credit Union is going to be their 'back office' but to do transactions you need to do them on a smart phone? fairly reasonable charges to wire money too.

You can do all the transactions on the desktop too. Their mobile apps are kinda slow

[chcher]

ZenBanx Mini-FAQs (As per their site)

What is ZenBanx?
ZenBanx is a mobile multi-currency account for Citizens of the World that allows you to hold up to five currencies and exchange or send them domestically or internationally. ZenBanx Accounts in Canada are offered through our partner, DUCA Financial Services Credit Union Ltd.

Are there fees for having a ZenBanx account?
No, there are no fees to sign up or maintain a ZenBanx Account.

What interest rate will I earn on my ZenBanx savings?
Deposits in your Canadian dollar account may earn 1.5% interest. Interest rates on other currencies vary.

Is ZenBanx secure?
Absolutely! Your money is held in a regulated financial institution. Our mobile app and website feature state-of-the-art multi-factor authentication.

Are there minimum/maximum balances for my ZenBanx Account?
We require a minimum initial deposit of $25; we do not require a minimum balance to maintain a ZenBanx account. The maximum account balance is $100,000 for new accounts and $500,000 for seasoned accounts.

How can I access the money in my ZenBanx account?
The money in your account can be sent electronically to family or friends, transferred to your linked bank account, used to purchase goods with your debit card (where Interac® is accepted) or as a cash withdrawal from a participating ATM network (Interac® or Cirrus® or THE EXCHANGE®) throughout the world.

What’s the limit?
You can get $250 USD for only $250 CAD

Are there any referral benefits when you refer friends and family to ZenBanx?
Yes, every time you refer someone, both of you will each receive $10 CAD in your ZenBanx accounts.

Contact info
email - [email protected]
call - 1-877-ZENBANX (1-877-936-2269)

[chcher]

The CAD deposits are insured up to $100,000.


Are my deposits insured?
ZenBanx customer accounts in Canada are held at DUCA Financial Services Credit Union Ltd. The Deposit Insurance Corporation of Ontario (DICO) insures eligible Canadian dollar deposits held at DUCA Financial Services Credit Union Ltd. up to a combined maximum of $100,000. To find out more about deposit insurance visit www.dico.com

[mollyh]

Has anyone done this before? Is it legit?

[chcher]

Has anyone done this before? Is it legit?

Yes I have done it before as well, when they had the promotion on Civic Day.

The guy running the business, is the same mind behind Tangerine Bank (Also known as ING) as well, so no question about it being a scam.

[mollyh]

Once I transfer the money from CAD to USD, how do I withdraw the USD?

[chcher]

Once I transfer the money from CAD to USD, how do I withdraw the USD?

I dont think they have an option to link a USD account now for Canadian customers. But you can withdraw USD from an ATM in the states.
Once you avail the promotion and get the $250 USD, you can keep the USD, or convert it back to CAD (at 1.3, it's $325)
Then you can withdraw

[jaxflower]

How do you link accounts to add funds? How do you get a debit card? I can't seem to find anything on the mobile site. PS - I used your referral link

[bhlombardy]

No offense, but this is asking for some bizarre info... like pictures, SIN, and other pieces of ID.

There are "membership" fees associated with the account, that they arent too clear to divulge... as well as dormancy fees, and the like, also not keen to spell out.

And it expects me to link to my actual bank account... hmm.

Be sure you all read the Agreement before clicking YES.

This is waaaaay too sketchy for my liking, to profit a mere $75 or so... I'll keep my identity and skip these 'mystery' fees.

[chcher]

How do you link accounts to add funds? How do you get a debit card? I can't seem to find anything on the mobile site. PS - I used your referral link

On the desktop app, you have to click your photo icon on the top right. Over there, you have the option to link an account. They send you 2 micro-payments (similar to Paypal). Once linked, you can transfer $250 over.
Second option is to upload a cheque made out to you. It can be blank or for any amount (say $25), and once the accounts are linked, you can transfer over the remainder.

Over there, you also see that, the debit cards have already been mailed out.

Please feel free to PM in case of any more questions. And thanks for using my referral link. Appreciate it

[chcher]

No offense, but this is asking for some bizarre info... like pictures, SIN, and other pieces of ID.

There are "membership" fees associated with the account, that they arent too clear to divulge... as well as dormancy fees, and the like, also not keen to spell out.

And it expects me to link to my actual bank account... hmm.

Be sure you all read the Agreement before clicking YES.

This is waaaaay too sketchy for my liking, to profit a mere $75 or so... I'll keep my identity and skip these 'mystery' fees.

Well to open an account in ANY bank, you need to give in your SIN and 2 ID proofs. This is no different. Linking your account either directly, or by uploading a picture is necessary, or how would you transfer money to and fro. This works on the same notes as a Tangerine Bank account (no physical location).

There are no monthly fees. However, to send money to someone else, a fee applies. As per ZenBanx customer service it's $5.95 CAD to send money to someone else in another currency, and $3.00 CAD to withdraw directly from a bank machine in another currency in a foreign country.

There is a $25 "Dormancy Fee" if you don't login to the account or make a transaction at least once every 12 months. But given the promos, coming up every couple of months, I doubt your account will be dormant. Below is the fees schedule
http://zenbanx.ca/dms/FeeSchedule.pdf

Worst condition, is to close your account, after taking advantage of the promotion. It just takes 5-8 min to signup. Not bad for $75

P.S. I don’t work for them

[chcher]

From the Zenbanx terms and conditions on the promo offer:

Should your account set-up be delayed for circumstances beyond your control, ZenBanx will still honour this promotion until August 17.