RBD/RBCDI Incompetence

Banking and Saving strategies, maximizing interest rates, budgeting, GICs, HISAs.
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Glen
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Posts: 37
Joined: 21 Jan 2012 19:46
Location: Toronto

RBD/RBCDI Incompetence

Post by Glen » 14 Mar 2017 17:07

My wife bought a 5-year $10,000 TFSA GIC from Ally in Jan 2013. When RBC bought Ally it became an RBC GIC. We were talking to the local RBC branch manager recently and she suggested transferring it in kind to my wife's new RBCDI TFSA. As we sat across from her she called RBCDI just to confirm the GIC could be transferred in kind. When it arrived at RBCDI, it showed as having a current value of $10,021 and a value at maturity (next Jan) of $10,245. We used the website messaging service to query RBC and they replied that they had sent $11,076. RBC asked RBCDI to investigate and to report back to us. RBCDI did so and told us that they had received $10,021. Both insist that the other is at fault. The manager called my wife the other day just to make sure all was well (maybe she'd caught wind of this back-and-forth). She said she would look into it and get back to us. Nothing from her yet either. We've submitted the case to the RBC ombudsman.

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