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Open Business High Interest Savings Account at RaboDirect with $25k Balance, Get Free iPad Mini

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REBELS14

Somehow stumble on this one — can't find the page on RaboDirect's page but only available in that little popup Updated: thanks to EC who PM'ed me the direct link. It's also for business (rather than for individuals) that have some cash that needs to be parked somewhere. Basically, open a business account at RaboDirect, use promo code REBELS14, have $25,000 or more in the account by the year end, and they'll give you an iPad mini for free.

Terms and conditions:

  • Offer available to eligible new business account holders (for eligibility to open a RaboDirect account, please read our Terms and Conditions).
  • A minimum balance requirement of $25,000 applies
  • This offer is valid from Thursday 20 February until 31 December 2014 or whilst stocks last, and the balance must reach $25,000 before the end of the offer period to be eligible.
  • Only one iPad mini per account opened.
  • Please allow up to 4 weeks for the delivery of the iPad mini
  • Offer is subject to availability. If for any reason whatsoever beyond RaboDirect's reasonable control the offer is not capable of being conducted as reasonably anticipated, including due to tampering, unauthorised intervention, fraud or any other causes beyond RaboDirect's control which corrupt or affect the administration, security, fairness or integrity or proper conduct of the offer, RaboDirect reserves the right in its sole discretion, to suspend, modify, or terminate this offer or disqualify any individual from receiving this offer.

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closed Comments

  • +2

    Once your HISA balance reaches $25,000, you will receive your FREE iPad mini

    • Ripper deal. I opened it on 27/6 and they closed the offer the very next day however they have honoured the deal for me and I got an email from them 3/7/14 saying that the iPad was being mailed to me that day! Wow. I am impressed.

      When I spoke to them they said that the offer had been in existence since March with very little take-up but that after the Ozbargain posting, that things went crazy and they suddenly had new customers flooding in for that offer each day equal to what otherwise they had received each month!

  • I couldn't spot the rates, if an iPad mini is worth around $300 that's 1.2% interest at $25,000. I wish this was available for personal accounts.

    • +4

      That particular account is currently paying 3%.
      http://www.rabodirect.com.au/business-savings/rates/

    • +1

      Yeah, but can you just deposit $25k one day and take it out the next? Then interest isn't a factor. Terms don't seem to say this isn't possible, just "when you balance reaches $25,000…"

    • actually $349 RRP assuming it's the base model Mini 16gb wifi only, i don't expect Mini Retina or wifi/cellular model considering this is a bonus offer

      • +1

        Confirmed with customer service that it is the Ipad Mini 16GB wifi.

    • Do note that business accounts always pay less interest rate somehow. For RaboDirect,

      I currently use St. George for my business savings account simply because the everyday account is with them, and the interest rate there is pretty bad comparing to personal savings account with RaboDirect, MEBank or UBank.

      I think this might be worth it if you are already parking your pre-tax & BAS money in a business savings account. The benefit is not that great if you are moving fund from your personal savings account.

  • +21

    nice, with all this years' deals from ozbargain, ive managed to save $25000

    Now to put the $25000 to good use and get a free iPad :D

    • +57

      Don't know how you did it. Felt like I spent an extra $25000.

      • +2

        You are under quoting…

        The $25k would have went to DSE's daily 12%-20% discount + free shipping… oh wait… mostly spent on Eneloops…

        Maybe a bit on SSD from Amazon as well…

  • +64

    Bummer, with all this years deals from ozbargain, I blew $25000 on Headphones, torches, and eneloops.

    • +4

      Don't forget the tea bags, eBooks, SSDs and all those 5% rebate/lifetime membership for free credit cards!

      • +1

        I blew $25000 on Headphones, torches, and eneloops.

        Don't forget the .. eBooks..

        You spent money on ebooks? you're doing ozb wrong!

    • +41

      Sorry about that, I am quite irresistable.

    • +1

      Love it!

    • At least you got 25000 points right…..you did use your Citibank credit card that you signed up for in the family and friends deal last year….right?? lol

    • +3

      i burned most of my 25K on that Maccas Mcflurry deal(hack?) https://www.ozbargain.com.au/node/131568 and the rest Hungary Jacks, Eneloops, beef jerky and enough handheld flashlights to make my own Batman searchlight…

      • +5

        Does Hungarian Jack charge much? Hourly fee?

  • +2

    Once the account receives $25,000 deposit, do I have to maintain this minimum balance until the end of 2014 to get the free iPad mini? The T&C are unclear.

  • +3

    Signed up. Lets see how it goes

    • +2

      Nice. You clearly have 25k spare.

    • +2

      Do you intend to keep the money there till you get the iPad?
      edit: to answer my own question I would keep the money till iPad arrives because of this:
      "Offer is subject to availability. If for any reason whatsoever beyond RaboDirect's reasonable control the offer is not capable of being conducted as reasonably anticipated, including due to tampering, unauthorised intervention, fraud or any other causes beyond RaboDirect's control which corrupt or affect the administration, security, fairness or integrity or proper conduct of the offer, RaboDirect reserves the right in its sole discretion, to suspend, modify, or terminate this offer or disqualify any individual from receiving this offer."

      • Has OzB written all over it

  • A business account, dream on, if they wanted customers then they need to let everyday account holders join the fun, it's quite a useless deal really if you don't own a abn.

    • +5

      Anyone can apply for an ABN as a sole trader , it will only take you a few minutes and its FREE

      • -5

        Keep in mind that signing up for an ABN has tax implications and businesses aren't legally allowed to trade at a loss long term.

        • +6

          ive had an ABN as a sole trader since 2004 and its never had any tax implications for me. And ive never used it except for phone contracts/deals that require an ABN

        • -7

          Just wait until they audit you then fine you for misusing a ABN. lol.

        • +7

          why would they fine me. I pay my taxes, declare my income

        • +3

          Fine him based on what?

        • Just wait until they audit you then fine you for misusing a ABN. lol.

          i think he/she is just talking smack now :o

        • +4

          I'm not telling people not to get an ABN (there are many great reasons to have one) I am just saying to be aware of any possible obligations you may have in doing so.

          It's like telling people they should get a credit card because it has no annual fee - there are still things that people should know.

        • +5

          I am a tax accountant and there are 0 risk of applying for an ABN. As long as you are declaring your income properly the ATO won't audit you, even if they do they won't "fine" you for having ABN that is inactive…

        • +2

          You need to prove that you were eligible for a abn. So make sure all the answers that you give them is true. If you don't have proof then they can nab you under this:
          https://abr.gov.au/General-information/Making-a-false-or-mis…

        • +1

          Pure nonsense.

      • +1

        "On the basis of the information you have provided it appears that you are not currently entitled to be registered for an ABN.

        Basis for decision
        As you have not demonstrated that you have commenced operating an enterprise, or have indicated that your business activities do not constitute an enterprise, you are not entitled to be registered for an ABN."
        might have to pass this one..

  • -1

    This is a great offer If I can just put $25k in and withdraw it straight away. I would be bitterly disappointed if they decided not to honour it because the money was in for a short time.

    • +2

      I would be bitterly disappointed if I left $25k in and they decided not to honour it.

  • iPad mini, new or refurbished?

    • +5

      Blended to a fine mist.

    • +1

      And with Rabobank bloatware?

  • Hmm

  • +2

    Looks like you need a business bank account with another bank to be eligible.

    Documents to gather

    BSB and account number of an existing bank account in Australia in your business's name
    ABN or ACN
    Yours and your business's Tax File Numbers or exemptions (you can still complete your account application without it)

    Confirm your eligibility

    You and the business need to meet the following criteria:
    The business is currently registered in Australia and has an ABN/ACN for tax purposes
    The business has a bank account in its name with another financial institution
    You, the Authorised Signatory, are over 18 years of age
    You, the Authorised Signatory, are an Australian resident for tax purposes

    • I'm a contractor and my personal bank account is the same one that I use for my business.

      My ABN is tied to my business but I don't know about my bank account being tied to it.

      I'm hoping that it is, could be an easy free iPad.

      • +1

        If you are a sole trader your "entity name" is your full name so I think that should be sufficient. Sole traders can have trading names but their entity name is always their full legal name.

    • +1

      RaboDirect is a savings account and you usually need a transactional account to move the money in/out of your savings account.

  • I'm curious

  • SOLD!

  • good deal, now if only I can start a business, open an account and then use that account to open this account…

  • hmmm… just bought my business a new car today otherwise I'd have parked the money in that account for a day to get that mini. Ah well… still got time before the end of the year.

  • Oh no! with all the tax deductions for business in this year's budget, why do they need this?

  • +1

    You are required to send quite a few documents back to rabobank to complete the account opening process.

    1. An extract from ASIC website showing details of the directors and their details etc (if the entity type is company).
    2. Certified ID (passport or driver's licence)
    3. Verify linked account (by means of confirming the reference number), so you need an account in business name to get link the bank account.

    Great deal if you can meet the requirements

  • +1

    i dont get it - all we need to do is open an account and deposit 25k to qualify for the ipad. How long does this need to be in there for though?

    To celebrate our partnership with the RaboDirect Rebels, we are excited to offer business customers a FREE iPad mini when they open a new business account with RaboDirect and have a balance of $25,000 or more.

  • +1

    Open this with $25k for the iPad, then open the Notice Saver Account (3.5% for 31 days notice seems like a good way to park your money / or even better 3.75% for 90 days).

    • Sounds like a plan, presumably parking the money in these account types won't invalidate the eligibility for IPAD?

  • +3

    any advice for those of us who dont have a business and are just individuals who have 25k spare to cash this in?

  • +4

    Can someone pls lend me 25k?

    • +5

      Pretty sure we can just bounce 25k between OzB accounts… hot potato, hot potato

      • +2

        See the last point in Terms and Conditions. Please keep quiet in discussing your "strategies" :)

        • +1

          Oh, right right right… shhh… wink wink! ;-)

    • Sure thing. $25,000 coming your way at these bargain unsecured interest rates.

  • -2

    does this only applies to a business account or it is available for personal account ?

    • +2

      does anyone ever read titles these days :s

      Open Business High Interest Savings Account at RaboDirect with $25k Balance, Get Free iPad Mini

  • Why aren't they give away Androids? Oh, right… :-P

  • +2

    OMG i just realised. This is for an iPad mini. NOT iPad mini RETINA.

    Not worth it. Pass

    • +7

      Not worth it. Pass

      its free so who cares. Point me to someone that is offering an iPad for free

      If you have an ABN + extra $25000 in a bank account, why not :)

      • +1

        Alright fine you win. just finished applying for ABN per your advice above.

        Let me sign up to this now. I just opened a personal account with them on the prev 5% cashback deal

      • EC,did I you tick all the boxes and link to another business transaction account?

        • +1

          The business has a bank account in its name with another financial institution

          im a sole trader so yes :)

        • -1

          EC, how did you go with providing an ASIC registered business name, as Ace26 commented above?

          "You are required to send quite a few documents back to rabobank to complete the account opening process.

          An extract from ASIC website showing details of the directors and their details etc (if the entity type is company)...."
          

          It will cost $33 to register a business name for a year.

        • +5

          Just called them

          For sole traders

          • you only need to send signed application form, ID certified and supplementary form saying you own 100% of your business

          • and ipad is ipad mini 16gb wifi (non retina)

        • +5

          nah its free. i just did it

        • +2

          Do some people live their lives by just making up facts?

    • Well if you transfer the money on the 31st of December, Apple may have run out of iPad Mini inventory by then. You might end up getting the iPad Mini Retina so if Apple releases the iPad Mini Retina 2, at least you'll still be getting something of worth (hopefully)!

      • +1

        Serious? I think Apple still has some iPad 1 or 2 out at the back. Their pricing strategy is to keep discontinued or obsolete stocks instead of clearing them out at discounted prices.

  • So do we need to wait 6 months (december) to get the ipad?

    • 4 weeks from when you hit $25000 deposit

  • +1

    Somehow stumble on this one — can't find the page on RaboDirect's page but only available in that little popup.

    Found the direct link scotty !!

    http://www.rabodirect.com.au/rabodirect-melbourne-rebels/

    • It sounded like scotty was sockpuppeting

  • Fees and charges?
    How much to move out or have money in for 4 week weight?

  • +2

    What about this RaboDirect? How reliable is that institution?

    If I deposit 25K, will it be insured by the goverment as a normal deposit?

  • Quick question, am I eligible if my abn is inactive?

  • +4

    Wow, Australian business is booming!

    • +4

      This stunt should push us back over parity with the US$

  • +6

    I spoke with their customer service team morning and she confirmed being a sole trade one can use personal account opened with another financial institution.

    Once you reach 25K balance, the IPAD will be sent within 2 weeks - I have only 6 months to save such a big pile of cash!

    • -1

      Is it a ipad mini retina? lol.

  • +3

    To open this account you need;

    Application Form
    Signed copy (JP) of Passport or Drivers License

    -Partnerships
    Certified copy of partnership agreement or extract
    Fullname and address of each partner

    -Corporations
    Cert of Incorporation or extract
    Fullname of Public Officer
    Fullname of Chairman, Secretary, Treasurer

    -Other Companies
    Cert of Business Name Rego
    ASIC Extract showing company, director, shareholder and members
    Certified copy of passport/DL of the director if not you

    If you have those handy - get your iPad!

    • +1

      Would a sole trader fit under the partnership heading?

      • +1

        I have rung them and confirmed that sole traders don't need to do partnerships, corporations, or other companies. If you submit signed copy of id and a UBO form you should be sorted.

  • +2

    Have to post in the application. Annoying but doable…

    Need certified copies of documents. You mean I have to actually queue up to see a JP? That level of tediousness means I'll probably not bother.

    • $300 for a short queue!

    • I usually go to my local council and takes me 5 min max

    • +3

      In my experience a police station is the least hassle free way to get something certified.

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