🚀 go-pugleaf

I must admit that staffs at Royal Bank are POORLY trained for their
OWN services what they provide.    At least all the other bank staffs
who are taking the phone calls do know their products.   At least
other bank personnels do NOT hung up on someone's calls.     Too bad.
They lost a deal of gettng thousands of dollars of G.I.C. for 50-100
years.


Today, I called Royal Bank for asking about one of the GICs in THEIR
brochure.    I called the number on the brochure.   The person who
picked up the phone call didn't know anything so he told me to wait.
He then described something that's out of GIC in question so I asked
him what he was talking about.   Then he told me that he was going to
transfer so wait.  OK.   I waited.   He hang up and I got the fast
busy signal.   I dialed again and someone else picked up the phone.
"Someone else" transferred to mutual fund department which has nothing
to do with G.I.C.    Then mutual fund specialist decided to transfer
my call and she hang up and I got fast busy signals.    I called the
customer service number that mutual fund specialist mentioned.   OK.
Now customer service receptionist refers me to call back a number that
I first called.    She didn't even know the kinds of G.I.C.s that THEY
would offer.   I told her that two persons on the line didn't know the
products and one person hang up.  One another hang up on me as well.
I told her that they were going to lose their business.      The lady
transferred to a Royal Direct (investment line).  Fine.   Now I giot a
gentlemen.    He told me that 3 yr special G.I.C. (called Market Rate
Increase G.I.C.) is 5% while 5 yr one is 5.3% and he called the rates
as "adjustment rate."   I asked him the rate of return.  He told me 5%
per annum is for 3 yr and 5.3% for 5 yr G.I.C.    That's more than a
prime rate.  That's not possible.   If I understand correctly, someone
yesterday told me 3.5% for that particular G.I.C.  I must then assume
that adjustment rate is sorely for purpose of determining whether
customer gets better rate or not if Royal  decides to increase the
interest rate of that particular G.I.C.   

In any case, phone takers at Royal Bank, in general, have no idea what
they are talking about.    Whatever the case, hunging up on someone's
call is not acceptable.  It's an insult.       The person who I am
*supposed* to call first time even confused with other G.I.C.s and
started to tell me about participation rate which has nothing to do
with G.I.C. in question (however, this matters with other G.I.C.s such
as market linked one).

As far as chequing account etc. are concerned at Bank Royale, they do
not have good option as well.   If you choose to have $9.5/month
option, you do not get interest nor certified cheque option.   You
have limited number of transactions;  which are not the case at TD
Bank, for example.     At least when I opened up my first account when
I just arrived here, the personnels told me that I couldn't write the
cheque on Young Saver's Account nor told or provided me with cheques;
In fact I could... and I didn't know it because Royal personnels
didn't know it.


When come to think about for a second, this is worse than my history
with Scotia Bank and C.I.B.C.   At least Scotia has better service fee
options and C.I.B.C. usually makes no mistakes (although it may take
time...).


Anyways, avoid Royal.   That's only I can say.  Never deposit
thousands/millions of money for someone who doesn't know how to handle
YOUR money.    I am glad not to deposit money at Royal for my life...
my life 50 years later.    $500 can become a couple hundred thousands
(50 years later... why not... 70 years later from now... it's
possible) but I now know I never trust them.   At least when I changed
my Royal branch when I changed my school... the personnel just gave me
a regular savings account although I was something like 16 years old.
I am glad that I am not a customer of Royal and I am now sure that I
will never become their customer again.





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