Arrogance at Coast Capital - Pitt Meadows | Coast Capital Savings | Discussion forum

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Arrogance at Coast Capital - Pitt Meadows
March 29, 2014
9:37 am
kanaka
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I recently visited the Pitt Meadows branch to ask about some RRSP fees that may be in place. I researched their website numerous times to no avail. There were no side counter/office people there but a teller asked if she could help. We were asked if we had an appointment, which is news to us, and said no but she said she would have some one answer my question. We talked to a very nice young fellow and he did not know the answer nor could he find it online so he called someone and retrieved the response we were looking for. He added "I guess we never transfer out funds" and only "transfer in". I thought nothing of it as being arrogant, but thought to my self if you only knew there are much higher rates out there than what Coast Capital to offer!
I have also noticed that their ATM machine is very slow and it always seems I get behind someone that is doing 5 transactions. Lol. And often there are tellers that are not busy. So I thought that in future visits if they are not busy I will bypass the ATM. Twice I have gone in and the teller appears to be finished her transactions and remains in a trance looking at her monitor (making no keystrokes). Does not recognize me, I'll just be a minute, nothing! When she gets out of her trance state she eventually indicates she is in business. Next time I visit, same thing, and I am with my wife. So I decide if I cannot be recognized and I stand here being embarrassed I will go to the more friendly ATM. I have a decent balance at Coast Capital along with another 100000 through my adviser. So is a teller not supposed to be customer oriented? Or better yet is she supposed to be "member" oriented? Am I supposed to accept her prima donna attitude?
I rarely go in the branch, so I am not a regular burden on their service. Does Coast Capital not realize that those of us that heavily use the ATM and Internet banking can easily be lost as a future customer when they are treated this way, face to face, in their branch? I can see my overall future will end with them once my external transactions with them mature!

Thanks for reading my rant. Any one have similar feelings?

March 29, 2014
12:38 pm
phrank
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I have bought car insurance through coast capital and just getting them to do their job resulted in their manager screaming and belittling me. I couldn't walk away from them at that point, as I had already paid for the insurance and paperwork was done. I thought maybe it was just that location, so I tried 2 others and both treated me very poorly and in a condescending fashion. They are the most convenient financial institution for me to deal with where I currently live, but I go out of my way and waste my time; which I highly value; to avoid any contact with this company and it's culture. So, your experience does not surprise me, but that a place like this exists is surprising to me. People need to stop putting up with all the bad service providers out there and vote by placing their money with the few who remain who still give the basic service we actually are entitled to as customers who pay their paycheck.sf-yell

March 29, 2014
12:49 pm
kanaka
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I found their insurance to be "order takers" and not really qualified. Keep in mind they have closed the Pitt Meadows insurance location as a result of spinning off that business. So that may be proof of them recognizing they were not well respected. Lol. But likely not enough money, so they stiffed someone else to do the business, charge them rent and skim a percentage off of the top.

March 29, 2014
6:18 pm
Rick
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CC's attitude and rates are the main reason I no longer use them for much of anything. I still have my checking account open as my family bank there and I still have my electronic transfers set up with my other banks so I can just transfer in / out anything I need when I have to move money to my kids. My son is paying a loan I made him back into CC and it gets transferred out the next day. There was a time I had over 250,000.00 in various forms with them as well as a line of credit. When the GIC I used to guarantee my LoC came due, I wanted to convert it to an RSP with them. They wanted to bump up the interest rate on my LoC as it was no longer "secured", even though I wasn't actually using it much and still had considerable deposits and immaculate history with them. Then when the GICs started coming due, I looked around and found their rates were no longer even CLOSE to the competition, and they had no interest in competing to keep me as a customer. I think I posted on another thread their No Haggle Guarantee is more like a Take it or Leave it ultimatum. Their policies and rates are all set out in black and white and their staff, from managers down, are all little robots that are only allowed to follow protocol with no regard or value of customers. If they were more accommodating, I would have more than 350,000.00 with them today, and more than half a mil when I retire in 4 years. As it stands, I have 1 RSP GIC with them coming due in Sept, and it will be out and tucked away elsewhere by the end of Oct. Now that their fee structure is changing Apr 1, I'm even MORE glad I switched. sf-laugh BTW...they charged me 55.00 to transfer out my RSP, 50.00 of which was reimbursed by my new bank.

March 29, 2014
11:16 pm
kanaka
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Rick and voodoo2 thanks for your input. Rick I am like you and only have a chequing and savings account for day to day used and my wife uses BMO. I only have investments from my investment adviser using their contract sales division that gives a higher rate than the "no haggle rates". How two faced they are!!!!! I am in midst of winding down my RRSP's and will flush them through Coast capital to another institution. Yes $55 well spent as I will net a lot more by paying the $55. Lol!!!! I consider both BMO and Coast Capital as insignificant and will use them as long as they continue to be completely free from monthly charges. I loved Citizens!!!! So out of curiosity what bank or CU was your alternate?

March 30, 2014
12:36 am
Rick
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Kanaka: moved over to CDF for day to day banking, my RSPs and wife's TFSA. Peoples Trust for my TFSA. ING has a few RSP GIC's left, but moving them out as they mature. Just locked in her TFSA and some of my RSP for 5 yrs at 3.3% thanx to the CDI bonus rate and some good timing.

April 1, 2014
2:47 am
Vig Lacera
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Coast Capital has clever marketing materials and that's where it ends. Try living overseas and then wanting to transfer your cash to Luxembourg. Good luck. They say, 'You can't wire funds overseas from a remote location. You must come into our branch to wire the funds.' Yeah. As if that's going to happen. Like I'm supposed to just take leave from work, get on a plane and walk into their branch. Oh and spend the gazillion dollars on airfare to fly to Canada. No thanks. So I found a workaround. And then I'm pulling ALL funds out of Canadian banks for good, because none of the Canadian banks are offering anything that is remotely helpful anymore.

And it's going to get much worse. Watch.sf-cool

April 1, 2014
8:04 am
Loonie
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Where will you put your money instead, Vig? I don't want to be too nosey, but I don't think most of us perceive ourselves as having significant other options in terms of banking.

April 1, 2014
9:49 am
kanaka
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Vig. Coast Captial has Hyperwallet. It is kind of like Paypal. You load it up from your bank account and then from Hyperwallet move to another account. You can also use the Hyperwallet account number like a credit card number.
Is there a work around here for you? http://www.hyperwallet.com/con.....sfers.html

April 1, 2014
11:02 am
Peter
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You can also use XE Trade to send money electronically to international destinations. For sending money to many countries you can use a bill payment. I outlined this here: https://www.highinterestsavings.ca/2013/11/xe-trade-sending-money-internationally-fee-free/

June 12, 2014
9:25 am
kanaka
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I found an interesting web site where Coast Capital employees input their ratings.

http://www.glassdoor.ca/Review.....244979.htm

June 12, 2014
6:03 pm
Rick
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Thanx for the link! I'm surprised they got 3.3 out of 5 stars. Too bad their mgmt seems to be focused more on profits than employee/customer loyalty. If they were smart, they would realize that taking care of customers and treating staff with respect would increase profits more than driving staff to the burn-out point. 3 more months and my relationship will be reduced to their free checking and debit account, just to move funds around to my other banks. Too bad....I would truly prefer to give my buisiness to a local company. sf-frown

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