Small Business Phone Service. Poll on customer service in the major banks ?

Edwards Finance > Phones

Q. Mines is with CIBC, which by and large have been OK, with the exception of card holder services. The whole premise of their communication with clients is poorly premised. All commuinications by phone, no paper trail, thus leading to neverending mistakes and no accountability. Lack of responsiveness when reporting such problems, and unimaginable amounts of time lost in doing so. I wondered if I should look elsewhere, but I also wonder if it's the same everywhere. I'd also be taking my investments with me, so I don't think of it as a casual move. Yes, I know, you more experienced investors will poo-poo the banks, but I'm hoping that one day I'll invest enough time to become sufficiently knowledgable to do that more independently. In the mean time, just trying to get an idea of what customer service is like at the banks in general.

A. Major Banks and Customer Service are oxymorons much like Military Intelligence or Quebec Intellectual Accurate nonetheless. For all practical purposes, the only differences in customer service between the major banks depend almost entirely on the actual people in the branch where you bank. Some are good and make things work. More are twits and make life difficult. The only real way to get better service is to look for a recommended branch and develop a relationship. Changing banks doesn't do much at all. I guess that means investing time personally visiting the bank during their office hours. The phone-based customer-service (which is the only real resort after hours) is the whole problem. I agree. You need to establish a good relationship with one (hopefully senior) resource at the bank. Thankfully, I have a great contact who smooths any waves for me. It also helps if you have money. Seriously. If the Bank thinks you will yank your 250K mnortgage and walk, they'll be a little more accomodating. -CIBC sucks, but then again most banks suck. I did business with CIBC for years, but decided to move on a few years back. Yours and others experience may/will vary. -Don't give all your business to one bank because then they have you by the balls. Of course, each bank will encourage you to do this and dangle better rates in front of you. I simply cannot imagine having one's credit card, mortgage, car loan, investments, banking accounts... all with the SAME bank. Sure, it is convenient but it gives this one bank far to much control over your finances. I have experience dealing with CIBC, RBC and TD Canada Trust (business accounts)... they are all basically the same. I definitely do not keep all my finances under the same roof.

Ask Edwards a Finance Question

Other Questions:

Is Nufone going out of business???

I ordered service over a month ago and have not gotten any info from them. They don't reply to my voice messages for several days (they don't answer their phones!) and reply to my email messages a week or so after I've sent them, if I'm lucky e...

There are a couple of reasons why this service should allow searches by phone number: 1) When the business name is difficult or impossible to spell with the phone keypad or voice recognition. 2) When I have a phone number to a business ...

We have an 800 number and get calls constantly throughout the day (sometimes all the lines are used up). I'm a network engineer (new to the company) but have no experience in phone systems and have been told "go find a new one". Apparently we...

I'm planning on getting a cell phone this week, but I'm not sure which service to get. Also, I "may" not be able to get service because either I don't have any or it's not any good and I'm talking about my credit. And in case of that, can anybo...

I'm looking for a device that connects to a digital station line on a NEC PBX and converts it to an analog jack. I've found devices from Konexx and Northwest Extension that do this for Nortel and Lucent switches but nothing for NEC.It depends ...

Edwards Finance Menu

Ask a Question
About Us / Me
Contact Me
Privacy Policy

Sitemap

My Favorite Sites

PFBlog
Google Finance
Yahoo Finance
Motley Fool
Nveille's Financial Blog
AllFinanceMatters
Free Money Finance
2MillionBlog
The Terror Finance blog

Q&A Subjects