TriniTuner.com | Latest Event:
Moderator: 3ne2nr Mods
acesinghit wrote:I approached FCB yesterday to open an account with them because I too fed up of RBC. I'm thinking support local and stuff hence my reasoning for FCB besides I highly doubt even though the govt does not own the group entirely that they will allow them to sink. So I had my two forms of ID and a utility bill but they want job letter and I have a couple forms to fill out etc... so now I have to go to HR tmr to apply for a job letter so they can project the kind of funds passing thru my account. All this drama to open a chupid savings account just for your salary to pass thru.
Eight months after it caused an uproar over its decision to increase fees for its personal and business banking services, RBC Royal Bank announced yesterday that, effective March 27, it would be introducing a number of new fees and increasing some of its existing fees.
The Canadian-owned bank published a new personal banking schedule of fees and charges on its website. The new schedule includes an $8 deposit fee for what the bank describes as day-to-day banking, day-to-day savings, enhanced savings and student banking customers. The bank’s schedule does not make clear whether this new deposit fee includes ATM and salary deposits or if the fee pertains to only in-branch deposits.
Deposits by savers over 60 and those defined as young savers remain free, as do deposits made by VIP banking customers and those who enjoy RBC Royal’s no-limit banking.
Deposits in the bank’s high interest bearing eSavings accounts will now pay $14 to deposit.
According to the Central Bank’s comparative schedule of fees and charges as at June 30, 2016, RBC Royal Bank charged no fee on in-branch deposit transactions (teller) up to the middle of last year.
The bank also increased the monthly service charge on its day-to-day banking accounts to $25, which includes five free cheque transactions, but customers in this category will pay $3.50 per transaction thereafter. The Central Bank schedule indicated that the maintenance fee on savings accounts at RBC Royal Bank up to the middle of last year was $15 a month.
Young savers pay no monthly service charges for keeping their monies at RBC Royal Bank, while for those 60 and over there is no service charge if they maintain a balance of $15,000 or more.
RBC Royal Bank also increased from $7 to $8 the cost of in-branch withdrawals and other customer-generated debit transactions for many of its day-to-day customers. But this service remains free to its VIP customers, its 60 plus customers and its young savers.
Customers of the bank face a new cheque book distribution fee of $25 (if distributed by TTPost) and a fee of $30 if the bank holds their cheque books for more than 30 days.
The bank also alerted its customers that some of them will be required to pay a new fee of $4.50 a month for the processing of their account statements.
RBC Royal customers as well face a new international transaction charge of 0.25 per cent of the transaction amount on any foreign purchase made with their credit card. They are also likely to pay higher late payment and over-limit fees on their credit cards come March 27.
Les Bain wrote:I've stayed with them out of laziness as well as the fact is just for the salary to pass through.
Any recommendations which bank to switch to?
originalbling wrote:Is a fee for deposits standard international practice? still dont understand why they need to charge you for depositing $$
Which other banks have a robust online banking platform as well as a good credit card miles program?
Scotia seems ok but their miles program is the aero platinum which has higher fees.
acesinghit wrote:I approached FCB yesterday to open an account with them because I too fed up of RBC. I'm thinking support local and stuff hence my reasoning for FCB besides I highly doubt even though the govt does not own the group entirely that they will allow them to sink. So I had my two forms of ID and a utility bill but they want job letter and I have a couple forms to fill out etc... so now I have to go to HR tmr to apply for a job letter so they can project the kind of funds passing thru my account. All this drama to open a chupid savings account just for your salary to pass thru.
thelem-again wrote:acesinghit wrote:I approached FCB yesterday to open an account with them because I too fed up of RBC. I'm thinking support local and stuff hence my reasoning for FCB besides I highly doubt even though the govt does not own the group entirely that they will allow them to sink. So I had my two forms of ID and a utility bill but they want job letter and I have a couple forms to fill out etc... so now I have to go to HR tmr to apply for a job letter so they can project the kind of funds passing thru my account. All this drama to open a chupid savings account just for your salary to pass thru.
This sheit!!
I opened an account with them 3 years ago and it was this same headache. Took me 2 different days at 2 different branches, just to open an account. I was unimpressed with their service and left the account dormant, which they eventually closed.
FCB just has too many red tapes. e.g. Online Banking. If not used consistently (monthly i believe) they close off your access, and you have to go in-branch to reapply.
I'm literally down to Scotia now. Don't like Republic (similar to FCB).
Suggestions??
ADONI wrote:I have heard from people FCB is better than the rest in terms of service charges, but the wait time to get something done is a killer... 2 hours and thing...
acesinghit wrote:how is it at JMMB? I wonder if Trinis will warm up to a Jamaican bank. The Indian bank here look like it suffering or looks can be deceiving.
