Royal Bank of Canada
The very first savings account I ever opened was with the Royal Bank of Canada. It was my primary account until I moved away to school back in 89. That's when I switched to CIBC out of convenience. CIBC had way more instant teller machines around the city than RBC. Anyhow, I always kept a little cash in my RBC account. It was always nice to know I had a small reserve in case I ever found myself in need of a few bucks. I thought there was nothing to worry about. Isn't the idea of a savings account that you can let your money sit there and accumulate interest indefinitely? Admittedly I haven't been actively using the account for many years. In fact, in years past, RBC has sent me notices saying my account had been inactive for a very long time, and if I didn't do anything about it they would close out it out. When ever I got one of those messages I made a point of putting some money in the account to keep it active. This year RBC didn't warn me. They charged me two inactivity fees of 15 dollars apiece, then came up with some lame charge for the remainder. They basically stole 42 dollars from me. Needless to say I've lost my faith in humanity. I think it's fitting that I write this on the day of the Pope's passing. Ultimately I have the last laugh. I am well on my way to attaining my CA designation. There will come a day when I will be reasonably well to do. Royal Bank of Canada, you screwed up. I know your dirty little secret. I will never do business with Royal Bank of Canada ever again.
posted by Matt Swanson at 7:53 PM
6 Comments:
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Matt:
It's time to make the switch to a credit union! Allison and I have been exclusive members of credits unions since the early '90s and we couldn't be happier. All the services banks provide, plus we know all the profits are staying with the members. Sometimes, they pay us (they pay us!) dividends. VanCity, our current C.U. gives $1 million to a charity each year that we get to vote on.
I love credit unions! I hate banks!!!
Hi M t Swanson, I was just blog surfing and found you! Wow, I really like this one.
It’s such a pleasure to read your post …. Interesting! I was over at another site
looking at accounts receivable
and they didn't go into as much detail as you, but nonetheless interesting.
Hey this blog is not about invoices
I have been doing hours of research on "factoring" and it brought me to your blog on Royal Bank of Canada. Anyways, M t Swanson I was reading your blog and I think it is really cool. It’s really a pleasure reading your posts! Keep up the great work.
Keep blogging away :-)
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Your blog keeps getting better and better! Your older articles are not as good as newer ones you have a lot more creativity and originality now keep it up!
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