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Is there any point to complain about poor service at People’s Trust
February 1, 2023
1:13 pm
HermanH
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Oh, F*** me. I just tried to log into People's Trust for the first time and set up Increased Authentication, only to receive a message that there was a problem with my request and that I need to call.

Of course, those halfwits won't answer the damn phone.

[edit]Unfreakin-believable. I tried to fax my RRSP transfer authorization form and get a BUSY SIGNAL.

Does anything work at that place!?

February 1, 2023
1:32 pm
c
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I hear you, and ended up giving up on them. After trying to open accounts in person with both trust and bank, after 1 month only one had been opened. Then trying to fund it resulted in more issues. Was assured of call backs that didn't materialize. Very nice staff, but peace of mind and ease of doing business elsewhere won out over the higher rates.

February 1, 2023
1:34 pm
Briguy
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HermanH said
Oh, F*** me. I just tried to log into People's Trust for the first time and set up Increased Authentication, only to receive a message that there was a problem with my request and that I need to call.

Of course, those halfwits won't answer the damn phone.

[edit]Unfreakin-believable. I tried to fax my RRSP transfer authorization form and get a BUSY SIGNAL.

Does anything work at that place!?  

Where have you been last 2.5 years ? It's called " work from home " ( WFH ) sf-laugh

February 1, 2023
1:53 pm
mmlt
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They have not improved I see. I was going to use them for TFSAs this year but now it's a hard pass.

February 1, 2023
8:32 pm
sothisistheinternet
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I haven't had any People's Trust customer service problems, but then again I haven't reached out to them for a long time. Maybe I was lucky back then, or things are worse now.

One thing though, that I have to say about my experience with PT is that their pushes out are LIGHTNING fast. I'm talking same day from PT to RBC.

Some FIs like Simplii won't even let you initiate a push on the day you set it up, even if it is 4:00am and the 'business day' hasn't even started. By default the earliest it will go out is the next business day.

PT has also batted 100% in my experience when it comes to following maturity instructions. I'm at the point now with some FIs where I assume they will get it wrong and am surprised when they don't.

February 1, 2023
9:03 pm
Rail Baron
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Within 24 hours after initiating my online application for accounts, I got the secure email from PT to send in my banking details - signed, void cheque. So far, so good!

I'll follow their instructions tomorrow when I'm fully rested and see how the next step in setting up my GIC online goes.

February 2, 2023
2:02 am
RetirEd
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My experience with Peoples has been pretty good. During COVID-19's heyday, the reps I spoke to were at home, sometimes with tech issues communicating, but things are better now. Yesterday and today were very slow - I got one callback in the AM and then yesterday's overnight callback after I had already done my moves. I think they have a hard time with peak end-of-month, end-of-year and registered-product deadlines. I do sometimes go to the downtown Vancouver office, but they want an appointment these days and that means... phoning.

I always make a point of mentioning that they need to answer their phones. On the whole, though, they have a number of features that are important to me, more and more of my funds are moving there.

This year, I will have to start planning RRSP withdrawals. I expect to call a lot of financial institutions and get confused, conflicting advice, given by what I've seen so far!
RetirEd

RetirEd

February 2, 2023
9:19 am
Rail Baron
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I just sent in the required forms (signed Void cheque and pre-authorized deposit form) to set up the links so that I can fund my new accounts.

I sent them through PT's secure portal, but did not receive any evidence that the first message had gone through - i.e., it did not appear in the "Sent" section. So I re-sent the forms, and the second transmission appeared in the "Sent" section of their portal.

I'll report back when I receive the notification that my accounts are ready for funding.

February 2, 2023
9:39 am
rodeworthy
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I moved money over to People's Bank this week with the intent to purchase a 2-yr GIC @ 5.4%. The money shows in my account but it is on hold. I have been trying to reach them to see if they will release the hold for this in-house purchase. Or at minimum, guarantee the rate until the money is not on hold.

Does anyone know if People's will do this? Or am I just wasting my time trying to get a phone connection.

February 2, 2023
10:45 am
HermanH
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I'm trying to do the same thing. Are you saying that you PUSHED the money into Peoples and they are holding the funds? Or, did you PULL the money into Peoples and the money is being held?

I am trying to PUSH funds into Peoples from Hubert in order to purchase 2-yr for 5.4%. I was hoping to do this without needing any CSR help, since none is available.

February 2, 2023
11:04 am
savemoresaveoften
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rodeworthy said
I moved money over to People's Bank this week with the intent to purchase a 2-yr GIC @ 5.4%. The money shows in my account but it is on hold. I have been trying to reach them to see if they will release the hold for this in-house purchase. Or at minimum, guarantee the rate until the money is not on hold.

Does anyone know if People's will do this? Or am I just wasting my time trying to get a phone connection.  

if the money is sitting in ur People's account, you can call them to release the hold. they stay online with you so you actually use it to purchase the GIC. You can do all that online but the rep has to be on the phone with you so he/she can monitor that u are indeed buying a GIC with the funds.

February 2, 2023
11:53 am
Rail Baron
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Why not just open up a new GIC following PT's online procedure and have their staff pull the funds directly from another FI into the GIC? That's what I'm in the process of doing, and so far it is working fairly smoothly, and without the need for telephone calls. I hope that typing the above doesn't jinx my GIC going forward!

February 2, 2023
12:00 pm
sothisistheinternet
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Rail Baron said
Why not just open up a new GIC following PT's online procedure and have their staff pull the funds directly from another FI into the GIC? That's what I'm in the process of doing, and so far it is working fairly smoothly, and without the need for telephone calls. I hope that typing the above doesn't jinx my GIC going forward!  

But didn't the "have their staff" part of this involve speaking with them?

February 2, 2023
12:14 pm
Rail Baron
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sothisistheinternet said

But didn't the "have their staff" part of this involve speaking with them?  

No speaking needed (yet). They just do it, based on instructions and authorizations that are provided entirely online.

February 2, 2023
12:42 pm
sothisistheinternet
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Rail Baron said

No speaking needed (yet). They just do it, based on instructions and authorizations that are provided entirely online.  

Wow that is good. Please update once everything goes through (or if it doesn't).

February 2, 2023
2:21 pm
HermanH
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Still no return call, but I got a DIAL TONE for the fax machine! Yahoo!
It promptly ended in a transmission error.
Calling back only got another busy signal. Sigh. sf-yell

February 2, 2023
4:28 pm
sothisistheinternet
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Hey, I heard that the fax machine was voted employee of the month in January.

February 2, 2023
9:09 pm
rodeworthy
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HermanH said
I'm trying to do the same thing. Are you saying that you PUSHED the money into Peoples and they are holding the funds? Or, did you PULL the money into Peoples and the money is being held?

I am trying to PUSH funds into Peoples from Hubert in order to purchase 2-yr for 5.4%. I was hoping to do this without needing any CSR help, since none is available.  

HermanH, I pulled the funds into PB using my online account. The pulled amount showed up almost immediately but it was flagged as 'on hold'. I attempted to use the online Account Services\Term Deposit utility to purchase a GIC but it was rejected due to insufficient funds in the account to cover the purchase. No where to go but call them and there was no answer - no call-back - until late today. More on that below.

savemoresaveoften said

if the money is sitting in ur People's account, you can call them to release the hold. they stay online with you so you actually use it to purchase the GIC. You can do all that online but the rep has to be on the phone with you so he/she can monitor that u are indeed buying a GIC with the funds.  

SMO, you are correct, a call connected to one of PB's CSRs will get the 'hold' removed promptly. The problem being it took days to get "connected'. But that did happen today and the rep released the funds. He could not process the GIC purchase but I got off the phone and set up the GIC online with no more problem. The deed is done. Happy to have this completed after many hours of waiting for return phone call.

Rail Baron said
Why not just open up a new GIC following PT's online procedure and have their staff pull the funds directly from another FI into the GIC? That's what I'm in the process of doing, and so far it is working fairly smoothly, and without the need for telephone calls. I hope that typing the above doesn't jinx my GIC going forward!  

RB, not sure what method you are using to set up a GIC online and using PB staff to pull the funds into the GIC. The only process I found to initiate the purchase was through Account Services\Term Deposits. As described above, that was not successful due to the pulled funding being 'on hold'. I don't know of any way to deal with staff without talking to them and, for me, that requires a phone conversation. Care to elaborate on your method?

I am still not out of the woods yet. The GIC is in my name only and it needs to be joint with my spouse. That requires another phone connection which I have requested but no response yet. And the beat goes on....

February 2, 2023
9:22 pm
HermanH
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rodeworthy said
I am still not out of the woods yet. The GIC is in my name only and it needs to be joint with my spouse. That requires another phone connection which I have requested but no response yet. And the beat goes on....  

Thanks for your clarification. You used PTrust to pull the funds into PT, and thus the hold.

I am in the same situation regarding Joint. I can push the funds into PTrust and purchase a GIC, but need to have it made into joint ownership. As well, I need PT to make certain the Joint has me as the primary. I just don't know if any of this is possible with their portal.

Anyone able to do it without CSR assistance?

Maybe when your CSR is finished with you, you can have him call me. sf-wink

I tried to file a complaint with their department, but Step one is to call the branch and try to resolve it. So, I sent the complaint and said that Step #1 was impossible, since no one answers.

February 3, 2023
7:55 am
rodeworthy
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I need to apologize for a mini-hijack of this thread that clearly stated People's 'Trust' in the header and I have been going on about People's 'Bank'. Not hard to confuse those two. Not sure if the two entities are using disparate systems for their operation but it doesn't seem practical to do that.

This was my first foray into GIC's at People's BANK (maxed out at People's TRUST). It was a bit of an ordeal but these are hard times for many businesses. Especially those doing brisk business with top-rated interest rates.

I still have to get the Joint designation for the GIC that I eventually got setup. That will eventually get done.

As an aside, I did two GICs with Oaken yesterday. Had to leave a message but got a call back within five minutes and the Rep set up the two GICs with Joint designation very efficiently from available funds. The whole process took about 15 minutes. Got an email confirmation that the certificates are in the mail.
Nice work Oaken.

My February transactions are complete. Hope things will be better come March.

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