Canadian High Interest Savings Bank Accounts

Is anybody else having the same problem transfering funds electronically into there Ally account? RBC have told me that there computer system will not let them transfer funds to another financial institution, I think that they are full of it personally, every time I make a fund transfer for $2,000.00, which I was told at first was the maximum I could transfer,it was been reversed by RBC.What the point in opening a transfer account with Ally if that's the case.

Thanks for that Doug. I have to believe that there is more to this. Is RBC playing game because the new guys are offering way better rates. I would like to hear from other banks and RBC clients.

I Work for a big 5 bank (not RBC) but we can't do a simple transfer of funds electronically to another financial institution through our system.
The only way we can do that would be through a cable. We can wire money to any financial institution in the world but it costs about 30 dollars to transfer it plus the person on the other end receiving it would be charged a fee by their bank as well.
So believe me RBC isn't trying to trick you because they're scared you're going to move 2000 dollars out of their bank.
Why would RBC lie to you about that?

i've been transferring cash from rbc to ally for some time now without any problems. money is there the next day, and ally actually has one of the lowest hold-times for eft transactions in the industry. i've always initiated the transfer from my ally account.

someone earlier in this thread mentioned a "bank teller". what the heck is a "bank teller"???? i'd better get on my commodore 64 and see if i can find the answer…:lol:

It's RBC and the big banks that are at fault here. They want to force you to open a 0% account with them as a lot of people are moving their cash to Ally, PCF etc.

I have an RBC Direct Investment (RSP) account. For this year's contribution, I was forced to send them a chq by mail (4 days), which they held with no interest for 10 days and then finally allowed to invest. All because I don't have an RBC bank account. Obviously, I'll be moving my RSP account soon!

Stay well away from RBC (a.k.a Humungous Bank). They charge ridiculous fees for practically everything. Stick with banks that offer free services.

This May, I recently have been hit with one of Ally's computer gliches. I had opened an initial account about one month ago and because it was going well, I decided to open another account with them.
Then the huge problem arose!
Ally bank has a feature that if you verify an account with the same test deposit numbers than it automatically initiates a transfer from an external bank into your other account.
For example,
1. Account # 1- You open your account with $1000.00 and you have verified your test deposits.
2. Account # 2- You decide to open another account and use the same test deposits but this time only want to open your new account with $100.00,
Then
3. A transfer of 1000.00 with initiate to account # 1.
Leaving you with no solution and alot of overdraft fees from the external bank account.

Ally bank made it clear that they don't have a gliche in their system, and I informed them that if I wanted to transfer $1000.00 from my external account into my Ally bank account then I would have specifically did just that. But this was not the case. Instead you use the same test deposits of $0.45 and $0.22 and this is what happens.

Has anyone else incurred this type of problem because I do not believe that I am the only one.
For professional purposes, Ally bank should have at least tried to care about this gliche or the customer but that was surely not the case. They were dumbfounded!
What else can I say, I've been duped by this bank, hmmm no surprise there I guess.:yell: