Originally uploaded by borderfilms (Doug).
The short version:
I deposited a large cheque in my RBC account Nov 14th. The idea was to pay off some bills before I leave for Ghana.
After waiting a couple of days I started to move the money around.
Suddenly, my online access was locked out. I called RBC and after trying to reset my access over the phone, I was told that my account was locked down and I would have to contact my branch.
On Monday of this week (six days after depositing the cheque and knowing it cleared) I had my debit card declined at the local grocery store.
Now, bear in mind that I had money in this account before I made the deposit.
I called the branch and was given the runaround. I was also told it was customary to put a hold on the cheque until it cleared. Which it did the previous Wednesday. Where did the money go? Pluto?
After making a deposit, RBC has arbitrarily kept me from all my money!
There was no warning either. No call. No email. Nothing. Just the surprise of being locked out.
The lockdown has created a ripple effect. Cheques I've written to pay off other bills have now bounced and my CIBC accounts are a mess.
There is even a questions as to whether my plane ticket went through on my Visa, as I made a payment to make room for the $2300 charge.
Yesterday, 8 days after making the deposit the bank left me a voicemail message saying it would be at least this FRIDAY (day 10) before the account would be unlocked.
I left a message with the rep. saying this was completely unacceptable. I mean, sure, keep me from using the money from the cheque until it clears. That I get.
But to take more than 10 days to do it... and keep me from my money already sitting int the account -- well, that's complete crap.
Needless to say, the Royal Bank has lost a customer of at least 20 years. They were rude, uncooperative and unable to even appear to want to help resolve the situation.
I will spread the word in the hopes that more people dump this prime example of what is wrong with the major banks.
They make money off our money and turn around and treat us like peons. Hello credit unions!
More on this to come.