I had no problems as an NBC Bank account holder for almost 15 years, then (after they were bought out by First American Bank) RBC Bank enters the picture.
I have had nothing but trouble since the day monies were transferred over to RBC. It seems they have a different way of doing things in Canada (or is it just Raleigh?). All of the sudden you couldn't trust anything you viewed online. Deposits weren't available immediately (sometimes taking more than 24 hours), charges to your debit card didn't appear right away... in some cases taking SEVERAL DAYS for a $5 charge to Chick-Fil-A, etc. To post.
In the initial transition to RBC, this caused my account to be overdrawn (yes, we actually relied on the accuracy of the online account statement).instead of showing some grace with the new transition, RBC took the opportunity to post over $200 in overdraft and "resubmit" fees on about $50 in charges they covered. That's got to be the most creative money making scheme I have ever seen! Hmmm... Let's see... We'll cover a $5 charge, but collect $40 in fees for doing so! That's worse than any payday loan (even the illegal ones!).
Just recently, as we were drawing our account down to close it (we had already had enough), an individual who said he had destroyed a check, actually cashed it. This time it caused over $300 in fees... Then more fees followed before I realized what had happened... A total of over $500 in fees! Again, since it was "not our fault", no grace on that one.
After 2 attempts to close my accounts there (and finally success in doing so), I find out that there was a $6 charge that came through from a fast food purchase almost 5 DAYS AFTER I made the purchase (the bank blamed the establishment of course). Funny that this NEVER happened with ANY other bank I have ever dealt with. And then, yes, another fee (they covered the debit even though the account was closed). Then after that they accepted ANOTHER automatic debit (we had already notified them to stop the drafts) DAYS after the account was closed (they said that when they covered the $6 charge it re-opened the account!). UNBELIEVABLE.
There is NO defense for this kind of abuse. Pleas to a "Personal Banker" and the branch VP were not successful. I now see that RBC Bank has found new way to make money, and they count on the consumer not to go after them for fear of embarassment. I've had enough! If you still own an RBC Bank account CANCEL now before they decide you are next! Back when banks were there to serve and help people, a friendly call would have been made to alert the customer (like MANY Americans, we don't always stay on top of our account)... Maybe you get a charge or two, but to charge fees that are 7-8 times the amount you are covering (or more), should be CRIMINAL. This is a rip off!
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