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Are banks doing “Tied Selling”?

This may be my most controversial post yet. The concept of “Tied Selling”, as defined by Investopedia is:

  • Tied selling is the illegal practice of a company providing a product or service on the condition that a customer purchases some other product or service.

How close does that sound to “Multi-Product Rebate”? For example, see how RBC promotes it:

  • The more you bank with us, the more you save. It’s our way of saying thanks! With the MultiProduct Rebate you could enjoy monthly savings of up to 100% of your monthly fees depending on the type of account you hold and the number of eligible products you have with us.

Just to be clear, I am NOT trying to imply that “tied selling” and “multi-product rebate” are the same. To be fair, the difference I see is that Tied Selling involves “adding” a product or service; while Multi-Product Rebate involves “subtracting” a fee.

I will leave it at that. More importantly, I would love to open this topic up for discussion. How you feel about this practice? Please share in the comment section below!

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Pointshogger aims to provide analysis and updates on earning loyalty reward points and maximizing the value of your points. We hope to inspire our readers to experience the joy of travel and make the most out of what they've already got!

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