Is this reasonable? RBC bank issue.
Jun 17th 2014, 7:20 pm
#1
Account Closed
Thread Starter
Joined: Jan 2006
Posts: 0
Is this reasonable? RBC bank issue.
My girlfriend and I have both been with RBC in good standing for more then a decade. (11 years for me, and 17 years for her) and under our prior separate accounts we had no issues, and never had funds held.
A few weeks ago, we decided to go in and get a joint account instead of paying for 2 separate accounts, since we had no need for 2 accounts. Everything with that went fine until pay day came for my girlfriend who is paid by paper cheque as her employer only has 2 hourly employees so they don't offer direct deposit as an option.
Her cheques have never been held, and never had an issue with the old account.
Now with the new joint account they are placing a 10 business day hold on the cheque saying its because its a new account, yes technically it is, but we have both a decade + of history with the bank in good standing so it should not matter if technically this account is new.
To me this just doesn't seem reasonable at all on the banks part.
Thus far nobody at the local branch or on the phone is willing to do anything aside from repeating from policy book.
What do you think?
A few weeks ago, we decided to go in and get a joint account instead of paying for 2 separate accounts, since we had no need for 2 accounts. Everything with that went fine until pay day came for my girlfriend who is paid by paper cheque as her employer only has 2 hourly employees so they don't offer direct deposit as an option.
Her cheques have never been held, and never had an issue with the old account.
Now with the new joint account they are placing a 10 business day hold on the cheque saying its because its a new account, yes technically it is, but we have both a decade + of history with the bank in good standing so it should not matter if technically this account is new.
To me this just doesn't seem reasonable at all on the banks part.
Thus far nobody at the local branch or on the phone is willing to do anything aside from repeating from policy book.
What do you think?
Jun 17th 2014, 7:51 pm
#2
Up Your Kilt
Joined: Mar 2012
Location: 1313 Mockingbird Lane, Mockingbird Heights
Posts: 1,621
Re: Is this reasonable? RBC bank issue.
Pretty typical of a bank. That's why I use a credit union.
Jun 17th 2014, 8:16 pm
#3
Banned
Joined: Apr 2009
Location: SW Ontario
Posts: 19,879
Re: Is this reasonable? RBC bank issue.
My girlfriend and I have both been with RBC in good standing for more then a decade. (11 years for me, and 17 years for her) and under our prior separate accounts we had no issues, and never had funds held.
A few weeks ago, we decided to go in and get a joint account instead of paying for 2 separate accounts, since we had no need for 2 accounts. Everything with that went fine until pay day came for my girlfriend who is paid by paper cheque as her employer only has 2 hourly employees so they don't offer direct deposit as an option.
Her cheques have never been held, and never had an issue with the old account.
Now with the new joint account they are placing a 10 business day hold on the cheque saying its because its a new account, yes technically it is, but we have both a decade + of history with the bank in good standing so it should not matter if technically this account is new.
To me this just doesn't seem reasonable at all on the banks part.
Thus far nobody at the local branch or on the phone is willing to do anything aside from repeating from policy book.
What do you think?
A few weeks ago, we decided to go in and get a joint account instead of paying for 2 separate accounts, since we had no need for 2 accounts. Everything with that went fine until pay day came for my girlfriend who is paid by paper cheque as her employer only has 2 hourly employees so they don't offer direct deposit as an option.
Her cheques have never been held, and never had an issue with the old account.
Now with the new joint account they are placing a 10 business day hold on the cheque saying its because its a new account, yes technically it is, but we have both a decade + of history with the bank in good standing so it should not matter if technically this account is new.
To me this just doesn't seem reasonable at all on the banks part.
Thus far nobody at the local branch or on the phone is willing to do anything aside from repeating from policy book.
What do you think?
Jun 17th 2014, 8:21 pm
#4
BE Forum Addict
Joined: May 2012
Location: Qc, Canada
Posts: 3,787
Re: Is this reasonable? RBC bank issue.
What Siouxsie said.
No, it's not reasonable, but it's what banks (try to) do.
S
No, it's not reasonable, but it's what banks (try to) do.
S
Jun 17th 2014, 8:33 pm
#5
Moderαtor Emeritus
Joined: Sep 2003
Location: Upstate South Carolina
Posts: 30,768
Re: Is this reasonable? RBC bank issue.
My girlfriend and I have both been with RBC in good standing for more then a decade. (11 years for me, and 17 years for her) and under our prior separate accounts we had no issues, and never had funds held.
A few weeks ago, we decided to go in and get a joint account instead of paying for 2 separate accounts, since we had no need for 2 accounts. Everything with that went fine until pay day came for my girlfriend who is paid by paper cheque as her employer only has 2 hourly employees so they don't offer direct deposit as an option.
Her cheques have never been held, and never had an issue with the old account.
Now with the new joint account they are placing a 10 business day hold on the cheque saying its because its a new account, yes technically it is, but we have both a decade + of history with the bank in good standing so it should not matter if technically this account is new.
To me this just doesn't seem reasonable at all on the banks part.
Thus far nobody at the local branch or on the phone is willing to do anything aside from repeating from policy book.
What do you think?
A few weeks ago, we decided to go in and get a joint account instead of paying for 2 separate accounts, since we had no need for 2 accounts. Everything with that went fine until pay day came for my girlfriend who is paid by paper cheque as her employer only has 2 hourly employees so they don't offer direct deposit as an option.
Her cheques have never been held, and never had an issue with the old account.
Now with the new joint account they are placing a 10 business day hold on the cheque saying its because its a new account, yes technically it is, but we have both a decade + of history with the bank in good standing so it should not matter if technically this account is new.
To me this just doesn't seem reasonable at all on the banks part.
Thus far nobody at the local branch or on the phone is willing to do anything aside from repeating from policy book.
What do you think?
A couple setting up a joint account may well have mortgages, insurance, kids RESPs and the rest in their near to middle future, Thats a big carrot to dangle in front of any bank to make holds and fees disappear. RBC are being retarded in my opinion.
Jun 18th 2014, 12:24 am
#6
Oscar nominated
Joined: Jan 2008
Location: Moncton, NB, CANADA
Posts: 51,094
Re: Is this reasonable? RBC bank issue.
The daft thing is they would probably issue letters of good standing or whatever they're called if requested so they could take their own recommendation.
I reckon "working" on them, as suggested, would be successful.
Jun 18th 2014, 12:31 am
#7
Account Closed
Thread Starter
Joined: Jan 2006
Posts: 0
Re: Is this reasonable? RBC bank issue.
Got it sorted. Apparently it was a random security hold but they wont give specifics as to why, but the branch did clear it in the end once a manager was asked for.
Guess cheques for payroll are just a rarity these days..lol
Guess cheques for payroll are just a rarity these days..lol
Jun 19th 2014, 4:14 am
#8
Forum Regular
Joined: Oct 2012
Location: Half a mile closer to the sun...
Posts: 105
Jun 19th 2014, 5:17 am
#9
Account Closed
Thread Starter
Joined: Jan 2006
Posts: 0
Re: Is this reasonable? RBC bank issue.
Van City is 7/month.
Blue Shore Financial is 25/month for unlimited account vs 10.95 at RBC.
10/month at Blue Shore only permits 40 transactions.
Those are the only 2 credit unions locally. Only credit union that seems to offer free accounts with no strings is Coast Capital, but no local branch which is essential for us.
Jun 19th 2014, 5:32 am
#10
Forum Regular
Joined: Oct 2012
Location: Half a mile closer to the sun...
Posts: 105
Re: Is this reasonable? RBC bank issue.
Do you really need to use a branch? Can you not open an account with Coast Capital in Vancouver and then use online banking and ATMs? Just a thought.
Jun 19th 2014, 11:57 am
#11
Oscar nominated
Joined: Jan 2008
Location: Moncton, NB, CANADA
Posts: 51,094
Re: Is this reasonable? RBC bank issue.
But on-line/phone banking and withdrawals by cashback with shopping might work.
However, what works for some doesn't always work with everyone for good reasons. Financial juggling being one of them.
Jun 19th 2014, 12:48 pm
#12
Forum Regular
Joined: Oct 2012
Location: Half a mile closer to the sun...
Posts: 105
Re: Is this reasonable? RBC bank issue.
Presumably use of an ATM (not of your own bank) results in a fee that would very soon exceed an account fee unless there were only a couple of withdrawals a month.
But on-line/phone banking and withdrawals by cashback with shopping might work.
However, what works for some doesn't always work with everyone for good reasons. Financial juggling being one of them.
But on-line/phone banking and withdrawals by cashback with shopping might work.
However, what works for some doesn't always work with everyone for good reasons. Financial juggling being one of them.
It was just a suggestion for the OP.
Jun 19th 2014, 6:20 pm
#13
Oscar nominated
Joined: Jan 2008
Location: Moncton, NB, CANADA
Posts: 51,094
Re: Is this reasonable? RBC bank issue.
No, with Coast Capital you can use any "Exchange" ATM -- all the BC credit unions are on it and I think HSBC bank as well -- at no charge. It works for me and I've not incurred any bank charges for 10+ years, and that's as a house and business owner and dealing in 3 different currencies.
It was just a suggestion for the OP.
It was just a suggestion for the OP.
My PC card can be used in PC machines (obviously
) and CIBC, but there's a charge for other machines. This seems to apply to all bank accounts here - except BMO is free in machines in Sobeys while other banks aren't.
