RBC is a bit of a joke. Having acted as executor through 2 family passings, RBC is one of the 2 worst to deal with.
In my last dealing, I was trying to round up funds from 5 different banks. After making another financial institution the Estate account, 2 banks merely transferred their balances, and the other 2 needed to see the probate documents. RBC was a particularly special needs case.
In January, I informed them of the financial institution that will be contacting them to handle the estate. They took copies of the will and certificate of Death and my ID to create a portfolio for me.
In July ( Prior to probate being finalized), the Estate account said the RBC manager (David?) needed to see me in person as they had no contact information for me.
Strange but ok. Better go back in person and bring the Will & Death Certificate again.
Arriving at the bank, David was unavailable so the teller took all of my information AGAIN to set up a profile for me. Once this was all done, the teller went on the search for their manager again only to return some time later to say David is on his lunch break now but told me that they need a copy of Probate to move the funds....
Maybe if RBC had not misplaced my 'Profile' this could have been resolved in a call or email instead of wasting a over an hour of my work day.
A couple weeks later, probate was finalized so off I go to RBC with my big fat envelope of documents.
I explain to the teller why I am there, present him with my ID & Court documents and he lets me know he needs to discuss it with his manager but HEY, Let me get copies of all your documentation SO I CAN SET UP A PROFILE FOR YOU....
After another agonizing wait, the teller comes back and says we'll have a check ready for you in about a week.
You can't just transfer the funds to the estate account? Like every other bank?
No. He says.
Did I mention that the funds in question amounted to $371.00 (-$4 every month from January until now Aug). No wonder they want to keep the cash. It'll all be theirs if I leave it long enough.
Oh and incidentally, I never did meet David. Got close though. He came out to do an override for the teller next to mine. Even the email I received was through the estate account with his email redacted.
I recommend any other financial institution over this one. Even keeping a sock full of cash under the mattress is a better alternative. read more