My family and friends tell me when I get really angry, I can be a very mean and nasty person. I certainly hope so, at least in cases where a person whose main responsibility is customer service fails to do so.
As I mentioned earlier, I have finally found a suitor for my lovely apartment. The tenant handed me two bank drafts (or money orders) last night for his deposit. Now, let’s pause here and re-read what I just wrote.
Bank drafts.
Also known as money orders.*
Those things that banks charge you $6.50 for. Each. Oh, and the money is already accounted for once those drafts are made.
Now, my tenant actually works for Bank of Montreal so I assume he has some credibility behind the documents he hands me.
Moving along, I went to the RBC branch at University Avenue and Dundas Avenue this morning to cash in those money orders and transfer the money to my dad. The teller promptly said that he would have to put a hold on both of them for five (5) business days to make them clear. When I asked him why, he said it’s just the way it is, it would be different if I was depositing cash (no shit, Sherlock). He said they were unverified and it takes five (5) business days for them to get cleared by the other financial institution and to make sure everything is legit.
So I left not wanting to give up the drafts because, though I didn’t know much about bank drafts, this sounded a little odd to me. I headed over to the BMO across the street and asked them what their process was. They informed me that unfortunately I could not cash the drafts with them, however any financial institution would just be able to call the branch where the draft was created to verify the account holder’s funds.
After this, I moseyed on back to work and decided to do a little online research about what the reality was. RBC’s website wasn’t too helpful but provided with a phone number I could call. I called Customer Service, not releasing my name or account information, and pretended to be a customer inquiring about what the process to get a bank draft made would be.
The CSR was very polite and told me that most drafts act as guaranteed money and can be cashed by the receiver immediately. If there is any issue, the receiver’s financial institution would call RBC to verify the account holder’s funds. He also mentioned that he personally answers various calls of such a nature on a daily basis. I asked him if there would ever be a situation where the draft could not be cashed immediately and why. He responded by stating if the receiver’s account had any flags from previous transaction, the draft may be held for two (2) business days only.
Hearing this, I told him what had just happened with me at the RBC branch and asked if my account had any flags. After getting my account information, he cleared me for being able to receive bank drafts of the monetary value I had disclosed to him, and stated there should be no problem when I returned to a branch.
I head back over to RBC after hearing this (hopping mad by this time) and spoke to a different teller, outlining the situation. She not-so-politely informed me that the draft would be subject to a five (5) business day hold. I told her what the CSR had told me and she did the following:
1) Asked me for his name
2) Said the Customer Service reps don’t know what actually happens at branches
3) Things have changed
Nevertheless, she went to speak with her manager and returned to tell me that they would process the drafts for me just this once but in general, it was a rule that they had to put holds on them. I snidely said that maybe RBC should have better training and education, to which she laughed sarcastically and agreed with me.
Then she went on to say this:
“Bank drafts are basically the same as personal cheques.”
I looked at her in disbelief and asked her why the
website would state otherwise. She had no answer, getting pretty upset with my snooty attitude by now (in my defense, I had to spend a good portion of my lunch hour to get this sorted out). She reiterated that I would not be able to enjoy the same privileges of same day deposit again and to please have a good day.
Now, RBC, please explain to me why I should remain a customer to a bank who even though has excellent customer service otherwise, treated me with such disregard in this instance. Forget about me, why does RBC charge $6.50 for a money order or a draft that it itself will not accept as a secure payment method?
I have been a loyal customer since I started depositing the meager earnings of my babysitting job when I was 14 or so. Through high school, university and now my first job, I have stuck by RBC and boasted about your excellent customer service to all. It seems you just don’t care about me the same I did about you.
* RBC distinguishes drafts and money orders by monetary amount attached. Other Canadian banks don't distinguish between them.
