Disappointed and Done with People's | Page 3 | Peoples Trust | Discussion forum

People’s never mirrored Trust with Bank
Didn’t have RRIF at either so didn’t bother giving them my RRSPs.
Customer service was only mediocre.
Then to poor.
Rates continually going down. Wonder why they have any status here.
I’ve left Peoples Bank
I’ve removed all cash from Peoples Trust.
When the few non registered GICs mature, that money will find a home.
Will only have TFSA GICs left….and their presence will be under constant review with no reservations whatsoever for that money to move to a new home as well.

You would think that an online bank would have top notch customer service as customer contact should be much more minimal VS dealing with a storefront FI. And with the Tangerines and the Wealth Simples you would want to beat competition…..but nope….not People’s…..and not Oaken either.

gamgam said
Agreed! I have been thru Aislinn, Kiem, Jen & Abigail…not one can give the customer service one would expect! My duplicate T4RSP slips are inexcusable! Still not resolved with a March 2/26 notice put thru by Peoples Trust. CSR’s are completely rude for an error caused by themselves! I will pull all my remaining GIC’s as soon as they mature to another FI! Done!  

Gamgam: May I ask how long you have been a customer of People's Trust?
I have been an RBC customer since the late 1970s or early 80s. My brother was a teller at the time (eventually he became a lawyer). I actually had one of the first ATM cards in Canada as Calgary was one of their test markets for ATM cards. He managed to give me some good perks, as there were never any holds on my cheque deposits. In less than the last six months I have removed over 20% of my financial assets out of RBC (at least if they complete a transfer in the coming week). It would have been a lot more, but one of the instituitions I transferred to does not support preferred shares. I suspect that it will only become worse for them. They became so complacent. For someone my age, it is not as easy a decision to switch one's main financial institution as it was when I was in university. I only switched back then because of my "older, wiser brother" as he liked to quip back in the day. encouraged it and made it feel less painful then it might otherwise have felt.

Now, RBC (through a long series of actions and inactions) has made it pretty easy.

Peoples has lately been low on the interest totem pole, but it wasn't always so. And don't compare them as an "online bank" - I originally chose them because at the time they were one of the only high-interest offerings with NO online presence. To this day, they provide a branch in Vancouver I can visit, good telephone service and no TFSA transfer-out fees.

Like all FIs, they can be slow to get to the phone at RRSP/TFSA time, and I have no brokerage business, but I'm still pretty happy with them. I just wish they had longer phone hours.