Targeted 4.6% on eSavings March 3 to April 28th | RBC Royal Bank | Discussion forum

AlainJF said
How do you know the rate that you are getting and for how long?

I could be missing something, but AFAIK, neither the App nor the Website is showing the rate or special bonus in effect. The answer from the CSR on the phone has been to wait for the end of the month (interest deposit) to see if special interest is in effect. Same answer with in branch employee.

My personal experience seems to indicate that RBC marketing is trying to compete with the other online FI with special promotions, but regular RBC employees (Chat/Robot, Telephone and in branch) are not ready, trained nor equipped to help/answer customers about it.

If my personal experience is totally unique/wrong, please let me know!  

Did you finally get some sort of confirmation that you are getting the promotion you were promised.

anitavirginia said

Did you finally get some sort of confirmation that you are getting the promotion you were promised.  

AlainJF said

Absolutely not.
In my experience, it's impossible to get confirmation from a client advisor or branch employee. I considered calling the RBC ombudsman to complain about my experience, but I ultimately decided to dedicate my time to more important matters. Clearly, the client advisors I contacted were working from home, kept me on hold several times for no reason, and wasted my time without providing an answer to my simple question. Unbelievable !  

Absolutely unbelievable... despite the fact that I was unable to get any confirmation for the special offer anywhere (at branch, call center, app, online banking message center, email, etc.)... Well, I got it: "Bonus deposit interest" on Apr 1st.

I made the math and the bonus is 4.05% (Total 4.6%).

If someone knows where to see the bonus rate and until what date, please share!

That's what many companies today are pushing - arbitration - in an attempt to seem fair and save legal fees. This from a (2009 in the US) Huffington Post article:

* Most importantly arbitration is biased in favor of corporate interests. According to a study by Public Citizen which examined almost 20,000 arbitration decisions, the corporate party won a massive 94% of the time. In one case, an arbitrator awarded $11,000 to a debt collector against a woman who owed no money whatsoever, but who had the same name as a woman who did.

* Arbitration is often pay to play. If you bring a suit in federal court, you pay a $350 filing fee, and that's it. Arbitrators, on the other hand, frequently offer an a la carte menu. If you want to file a motion, that's $500. If you want a live hearing, $1500. If you want a written explanation of the arbitrator's ruling, $1500 more. In some cases, consumers have been charged $10,000 or more for the privilege of losing their case before a biased arbitrator.

* Arbitration is secret. Except in California, arbitrators are not required to publicly disclose their decisions. Because they can keep their past history from the public, many arbitration companies market their services to corporations by highlighting their pro-business bias, even as they lobby Congress with claims that they are just as fair and balanced as real live judges.

This is exactly what Air Canada is trying to force cheated passengers to accept or face year-long delays in complaint resolution. In fairness, Canadian passengers would have the option to reject an arbitration - and go back to waiting.