OT- How do I switch bank branches?

[Susan2771]

Argh! I am trying to switch our mortgage, investments, RESP's, RRSP's to a different bank branch but I am getting no where! I have spoken to 2 branch managers at 2 different banks in my area and they have been no help. They don't want to step on the toes of the people at the branch all the above is currently at and it's getting really frustrating.

Is there another way to switch bank branches besides the bank manager? Is there someone above a branch manger I should try reaching out to? I think it just might be best to switch everything to a different bank, it might be easier.

 

[Gigi22]

Maybe I'm missing something, why can't you just make an appointment with your current Bank Manager and tell him/her straight out that you want to move your accounts to a different branch? This can't be the first time this has occurred.

 

[alc571]

I agree with PP. Banks do it all the time. I'm not sure why you're getting hassle. Scotiabank even advertises moving your banking to them.

As to your other question, having worked at RBC, I can tell you that each branch manager is accountable to an area manager. If you try calling the banks customer service line, someone should be able to give you a number to reach that person.

 

[minnie mum]

I think we must be missing some piece of information. I have never encountered a problem such as you have described. In fact when we moved into our new home 20 km from our old one, the branch manager actually contacted us about moving us over to the branch closer to us.

What you are encountering is, in my experience, very unusual. I agree with the PP who recommended that you phone customer service and find out just what is going on.

 

[Susan2771]

I don't know why it is such a hassle for the bank to do this. It has been more of a hassle for me to go to different banks and having to wait around to speak with branch managers to beg and plead our case. The only reason I got was that branches don't like to step on the toes of other branches. What about our toes though as the clients? Our home branch is just to far and we can't make it there during the branch hours when we need to do something in person. With either one of these 2 branches I approached, it is just much more convenient and they still keep our business.

Thank-you for the direction of getting a hold of the area manager. I will look into that avenue to move branches.

 

[maplevale]

DH has worked for 3 of the top 5 banks... the reason they don't want to step on toes because the value of the loans is tied to an employee portfolio..... when you move - it deducts from their portfolio. Even though the bank doesn't loose business the specific employee does (and vice versa whomever you transfer to will gain without doing much work.

It sucks for you and for the account manager whom you are leaving - I hate the way the banks tie it back to the account manager!

 

[bankr63]

I don't really understand why in today's electronic age you need to move anything? I've been with TD/Canada Trust for years and have accounts that are tagged to 3 different branches across the city but that has never caused any difficulty. My original mortgage was with the main downtown branch that I have only ever been to once (to use the ATM, not for anything related to the mortgage). My experience has been the same for teller banking regardless of what branch I've gone into, even if I had no accounts based at that branch.

Actually the only thing I can think of that matters is our Safe Deposit Box. That one requires you to go to the branch where it is located (obviously), and they do check against a physical signature card. Other than that, I can't think of anything that I haven't been able to do at any branch related to Deposit Accounts/Credit Cards/Investments.