Compensation

[drlove]

I got a call from a customer service rep at my bank last month saying I was approved for an RRSP catch up loan. She said she would send me the package in the mail which would arrive within 3-5 business days.

When it didn't show up, I called, and was informed that the woman I was speaking with screwed up on my address, and now (presumably) the package is lost. I was furious - so much so that they transferred me to the office of the president to discuss the issue. I told the person on the other end of the phone I wanted monetary compensation for the inconvenience and the principle of it. He is going to call me back tomorrow. I'm just wondering what I can expect. Any ideas??

 

[KBear]

I was furious - so much so that they transferred me to the office of the president to discuss the issue..... ...I'm just wondering what I can expect. Any ideas??

They might cancel all your accounts for you

 

[drlove]

They might cancel all your accounts for you

I threatened to do that myself... CC's line of credit, RRSP's mortgage - everything. Taking my business elsewhere if I don't get it resolved to my satisfaction. Seriously, I'm not kidding around.

 

[peeler_feeler]

I wouldn't hold your breath for monetary compensation. I can't wait to hear how they settle this issue for you.

GOOD LUCK!

 

[KBear]

They may offer a break on discharging your mortgage, like only charging a 3 months interest penalty and half off the $300 transfer fee. If they offer to mail the mortgage transfer documents to the other bank, don’t trust them

 

[tboy]

yes I am curious as to what their compensation will be. I will hedge my bets and say it will be an apology and nothing more. Even though banks are losing customers left right and centre they are still raking in the dough (look at the announced profits posted this week) and will in no way let some of that dough go.

Unless you have a major mortgage (400K +) or major deposits (500K plus) I don't think they will give a rat's ass if you leave or not......

 

[einar]

I can't for the life of me grasp your upset. Somebody offered you a loan, and then messed up your address, so you did not receive an envelope in the mail: so what?

 

[yychobbyist]

Damn, wish that this thread wouldn't have started. I really needed that $34,000 free loan using that other guy's personal info. SHIT!

 

[shack]

His account information was in that package, thats why he's pissed.

Or maybe because he wasn't able to make an RRSP contribution due to the mixup and now he has to pay more income tax.

 

[Esco!]

Damn, wish that this thread wouldn't have started. I really needed that $34,000 free loan using that other guy's personal info. SHIT!

You couldnt afford it on your puny little west coast salary!!!!

 

[Hard Idle]

It's called Identity Theft

I can't for the life of me grasp your upset. Somebody offered you a loan, and then messed up your address, so you did not receive an envelope in the mail: so what?

He'd better hope the person it was mailled to is the type who presumes junkmail and throws everything out without looking.

 

[Hard Idle]

I can tell you now

I wouldn't hold your breath for monetary compensation. I can't wait to hear how they settle this issue for you.

GOOD LUCK!

After waiting a week or two with nothing happening, he'll try to call the bank back and will spend hours on hold listening to Celine Dion! This is how Canadaian corporations break the will of customers who have a problem.

Generally speaking, Canadian banks shut you down and say no to everything until you actually do take your business somewhere else. Then they call and offer you what you asked for if you come back.

These days I don't let the demoralized temp workers in the call centres mail me anything. If I can't pick it up myself from a brach, forget it.

 

[drlove]

Or maybe because he wasn't able to make an RRSP contribution due to the mixup and now he has to pay more income tax.

Actually, I've already made RRSP contributions through my advisor. This was just something extra I was going to get involved with in an attempt to diversify further.

 

[drlove]

The fact remains that I wasted an hour of my valuable time dealing with a bunch of morons who had no clue what was going on. Time is money. When I finally did speak to someone in the higher echelons, they did seem to take it seriously, saying they would inform my branch manager of the situation and work together to come up with an acceptable solution.

I'm not asking for much here. If they deny my request, then for a token sum, they have effectively talked themselves out of my future business. I get calls almost daily from other banks who would bend over backwards to get my business, so I would have no trouble going somewhere else. point being, a bank should not be allowed to screw up and expect to get away with it. If they say they're going to do something, they better do it. in other words, "say what you mean, mean what you say".

Remember, I'm the customer, and they work for me. For those of you who think I'm being arrogant, I'm simply stating the truth. In the worst case scenerio I'm prepared to walk into the bank and cancel everything in person just so I can see the looks on their faces when I do. That alone would almost be worth it - almost. I still want the cash.

 

[Berlin]

... I still want the cash.

Take it to the media, the issue may get solved quicker.