RBC Royal Bank Shakes up Svcs...More Changes re: Credit Card

[javishm]

one chupes

[ZeroOne]

Yea I found it to be a step backward as well.

The flyer said that it was done to curb fraudulent transactions on credit cards, eg only a max of 3k can be spent if the limit is 3k.

24hrs before is a lot of time to wait for a temp increase.

[wagonrunner]

It's that difficult to permanently increase the cc limit?
I did that by phone sometime in 2011.

[M_2NR]

Yea I found it to be a step backward as well.

The flyer said that it was done to curb fraudulent transactions on credit cards, eg only a max of 3k can be spent if the limit is 3k.

24hrs before is a lot of time to wait for a temp increase.

credit limit supposed to take effect immediately providing that you go in.. Get it approved etc. Thankfully they didn't make it into a paper trail yet. But it would only hold for 24hrs. Something like this coulda be accomplished online to be quite honest.

And WR from what the CSR said a while ago when i called, for that temp increase in limit you have to go in a branch and they have to approve it. Not an over the phone thing as the permanent one.

[zoom rader]

Yea I found it to be a step backward as well.

The flyer said that it was done to curb fraudulent transactions on credit cards, eg only a max of 3k can be spent if the limit is 3k.

24hrs before is a lot of time to wait for a temp increase.

credit limit supposed to take effect immediately providing that you go in.. Get it approved etc. Thankfully they didn't make it into a paper trail yet. But it would only hold for 24hrs. Something like this coulda be accomplished online to be quite honest.

And WR from what the CSR said a while ago when i called, for that temp increase in limit you have to go in a branch and they have to approve it. Not an over the phone thing as the permanent one.

Seems they are contradiction themselves, did they not say they want to use more Internet banking and reducing the walk in customers. In the UK you can log on over the net and increase your credit limit based on your credit score .

[drunkenscorpion]

Wait....wtf....so if I wanna make a transaction online in the night....and its over my limit....and I have applied further monies on the cc.....it still wont go through???.....that is utter bs!

[Team2lo2flo]

Anyone checked their latest CC Statement and noticed the crap about Transactions with Regards to Credit Balances?
They are no longer going to honour purchases made based on your credit balance and only your credit limit. So if your credit limit is $3000.00 and say you added $1000.00 (Total to spend: $4000.00) you can still only spend $3000.00.

If you have to do a purchase in such a fashion you have to go into the branch for a 24 hour temp. credit increase...

And if you aren't satisfied with your current credit limit you can go in and get reevaluated.

Thats really fcuked up if true...

[pugboy]

that is actually a blessing
don't overspend your means

[dogg]

Seems Royal attempting to introduce Canadian banking culture to TT.

THey tried that in the 80s and had to pull out.

They sold out RBC jamaica this week. TT operations probably not far behind. Won't be surprised if Guardian Holdings buy it up.

[ZeroOne]

Yea I found it to be a step backward as well.

The flyer said that it was done to curb fraudulent transactions on credit cards, eg only a max of 3k can be spent if the limit is 3k.

24hrs before is a lot of time to wait for a temp increase.

credit limit supposed to take effect immediately providing that you go in.. Get it approved etc. Thankfully they didn't make it into a paper trail yet. But it would only hold for 24hrs. Something like this coulda be accomplished online to be quite honest.

And WR from what the CSR said a while ago when i called, for that temp increase in limit you have to go in a branch and they have to approve it. Not an over the phone thing as the permanent one.

I spoke to a CSR who said the temp increase can be done via phone, you have to notify them before you deposit an excess of the limit.

If the limit is temp removed immediately that great.

[ras_elmo]

Forget them yes...they have the lamest internet banking facilities and they sprang that appointment nonsense without clearly informing customers. Last year I wasted almost an hour in RBC Westmall waiting to open a new account for them to tell me about I have to make an appointment. Worse yet...even though I made the appointment the person in reception didn't log it properly...so I ended up showing up for a non-existent appointment.

Walked over to Republic in the mall one time and opened a new account in 15 mins.

Fack RBC. They only studying profits rather than customer service...

[pseudorandom]

that is actually a blessing
don't overspend your means

Not exactly. It's the opposite. Suppose I have $3000 credit limit, but I want to make a one time $5000 purchase. I know I can afford it so I add $2000 to my cc to make the balance -$2000. According to this new rule, I cannot spend the $5000 even though it's within my credit limit. The credit limit itself prevents overspending from daily purchases, but this new rule will make me want to permanently raise my credit limit to $5000 to prevent future inconvenience of going to the bank. So the new rule is a curse, not a blessing. It's a scheme to make people permanently raise their credit limits and make more money from people overspending.

I deliberately make sure to have a small credit limit on my cc, and I usually add funds to make it a negative balance when I need to buy more expensive stuff. I will wait until this new rule affects me for the first time, then I will make sure to cuss up the bank employee and cancel my credit card one time.

[M_2NR]

I spoke to a CSR who said the temp increase can be done via phone, you have to notify them before you deposit an excess of the limit.

If the limit is temp removed immediately that great.

oh. Great. The inconsistencies in what they are telling customers start already

Ras Elmo, boy. Don't even go there. it amazes me as to why I still even have money with them. I stupid enough to have them do me that 2 additional times after and I already have an account.

Thanks pseudo.

[Sky]

Plenty credit unions have atm cards now

and they also charging 1% a month for mortgages, and want to make you wait 3 months to get your money back if you need it.



I love how people beating up for $4, but will go and buy kfc everytime the price goes up

Last time I went into the bank (had to, because they didn't offer an alternate medium for what I wanted to do) and paid $4 to stand in line for 70 minutes. So I will beat up.
I can see how they would introduce other ways to bank, and to try cutting down on customers using the old way by charging a premium . But to do certain things, the old way is the ONLY way, so you HAVE to pay the premium. And I would think that this extra charge would get you some better sort of service.....SEVENTY MINUTES!!!

[pioneer]

Do RBC credit cards have a "US side" like RBL?

Or is it just TTD and they convert?

[fokhan_96]

Still better than republic. Ever had to do ANYTHING in RBL involving $US ... buying cash, wire transfers, paying credit card bills .... LOL ... is like they NEVER have $US. They always short.

[pioneer]

What's RBC's interest rate like?

[ZeroOne]

Do RBC credit cards have a "US side" like RBL?

Or is it just TTD and they convert?

NO they convert TTD, if you buying online using paypal you have the option of paypal doing the conversion rather than the bank.

[wagonrunner]

NO they convert TTD, if you buying online using paypal you have the option of paypal doing the conversion rather than the bank.

iwth my other bank issued Visa Card that's never cheaper. how is it with yous?

[ZeroOne]

paypal is not cheaper, i have the bank convert

[pugboy]

Amazon also has option,
I find paypal and amazon use rates of around 6.8

[pioneer]

From what I heard RBC uses a standard $6.50TTD to $1.00USD despite their sales pitch of "current exchange rate"


Also like 20 RBC staff loss dey wukk

[SR]

Anyone checked their latest CC Statement and noticed the crap about Transactions with Regards to Credit Balances?
They are no longer going to honour purchases made based on your credit balance and only your credit limit. So if your credit limit is $3000.00 and say you added $1000.00 (Total to spend: $4000.00) you can still only spend $3000.00.

If you have to do a purchase in such a fashion you have to go into the branch for a 24 hour temp. credit increase...

And if you aren't satisfied with your current credit limit you can go in and get reevaluated.

this makes sense to help prevent money laundering

[crazychinee]

Why not just get a visa debit card and stop beating up?
RBL and FCB haven't allowed persons to put excess on their cards for years now.

[desifemlove]

RBC is weak, even compared to Trini-based banks like FCB. How come FCB and Republic have prepaid credit cards and they don't?

And really even doh they small compared to HSBC and BNP Paribas, they have means to introduce "first world" banking here. In Canada, do people stand an hour in line to pay in a check? lol.. I know for a fact in HSBC in UK it only taking 10 mins, 15 tops.

[Dizzy28]

Why not just get a visa debit card and stop beating up?
RBL and FCB haven't allowed persons to put excess on their cards for years now.

So wrong. FCB allows excess on their Visa card. Used this facility as recent as Sep last year.

[r3iXmann]

Why not just get a visa debit card and stop beating up?
RBL and FCB haven't allowed persons to put excess on their cards for years now.

that's not true. i do this all the time

[noshownogo]

Anyone checked their latest CC Statement and noticed the crap about Transactions with Regards to Credit Balances?
They are no longer going to honour purchases made based on your credit balance and only your credit limit. So if your credit limit is $3000.00 and say you added $1000.00 (Total to spend: $4000.00) you can still only spend $3000.00.

If you have to do a purchase in such a fashion you have to go into the branch for a 24 hour temp. credit increase...

And if you aren't satisfied with your current credit limit you can go in and get reevaluated.

this makes sense to help prevent money laundering

The banking institution cares about this now?

[pete]

They need to appear to care.

[Sky]

Why not just get a visa debit card and stop beating up?
RBL and FCB haven't allowed persons to put excess on their cards for years now.

Did this last year for some uber spending.