RBC Royal Bank of Canada

They say its a good bank for businesses. I wonder why.

Opened a business account and deposited $37 K for a year. Eventhough the cheques i would deposit were from the same company, they still required 5 business days to clear.

Every time you ask to withdraw more than $500 cash, tellers would look at you suspiciously as if you were a drug dealer or something.

The funny thing was that for every withdrawal you were required to write a cheque to your self. Mandatory..... TD or CIBC would never ever do that.

Finally i canceled my account and will never go back

A bank stuck in the 19th century with employees who NEED TRAINING badly

-chose to have the property taxes paid by the bank; it was a new build and we got appraised 2 years after we moved in; RBC sent us a notice that the monthly amount will increase by 200$ on a certain date but they started taking it out one week earlier than they said they would; we had to pay NSF because they cannot process anything right

-needed a mortgage on a 2nd dwelling to be able to take possession of our new house before we sold the old one; at first they said no; when they heard that a different bnk gave us the loan they invited us to the branch to 'work it out'; after 30 min the very 'professional' message was: 'I cannot help you, take the other loan and run'

-ported our mortgage with a few weeks gap between the two close dates (old property closed a few weeks later than the new one); we asked to extend our mortgage to 5 yrs and blend the old rate with new 5 yrs rate: answer was NO (they do not want business that much is obvious by now); they promissed that no CMHC fee would be charged for porting with decrease and that they would try to waive the penalty (or part of it) for porting down; what actually happend: we were charged CMHC and no penalty was waived

-on the new mortgage we chose to pay weekly accelerated on the first week after opening that mortgage; it took them 4 weeks (during those I had to call several times) to get that straight and start taking money out of our account

-after I repeteadly expressed my dissatisfaction with their services they increased the interest rate on my credit line from prime +3.5% to prime +7% WITHOUT ANY CHANGE IN MY CREDIT RATING. Coincidence? Maybe but at this point IT DOES NOT MATTER as we BROKE FREE FROM the incompetence and moved ALL OUR BUSINESS TO A BANK THAT CARES!

6-I closed my credit line and the teller decided to only bring it at 0 and keep it open although I confirmed twice that I wanted it gone; I even turned in my client card!!!

My local RBC Royal Bank of Canada is friendly and I miss the personal approach but the convenience of on line banking is sufficient to compensate for this and the occasional visit keeps me in touch.