Friday 29 June 2007

Banks ... Can't live with them ... Can't live without them?

We have a tightly regulated banking industry here in Canada.

We have several rather large banks, with the Royal Bank of Canada (RBC) topping out as number one.

I personally have been with the RBC for a long time. I opened my very first bank account with them, and presently will be closing my last.


Because they treat me like they are doing me a service for allowing me to bank with them. The focus of the business relationship is them and not me, their client, despite their ads saying the opposite.

They nickel and dime our business to death with their fees for everything.

They nickel and dime us to death with their fees for everything.

The banks seem to have forgotten that it was our money residing in accounts within their institution that enabled them to build their huge profit making machines.

So, now that their huge profit making machines are rolling, where exactly do those nickel and dime fees charged to us fall? Probably one one thousandth of a percent of their gross revenue. So, why exactly are we being charged banking fees again?

Client service my rear end! The client is number 1! Bullocks! :*Þ

No where have I been treated like I would treat my clients. This after close to 30 years with the bank!

As a result, we will be closing all of our accounts at the RBC and transferring them to an institution that is hungry for our business. This new institution has demonstrated to us recently that they may not have lost their perspective on who is number one: their client.

Philip Elder
Microsoft Small Business Specialists

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