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Saturday, January 21, 2012


I think that most of us have some big gripes with banks.

Here's a small one. Some months ago I decided to move my money out of CIBC to my local credit union. When I tried to move my RRSPs I was told that it would cost me $100 to move each one. Seeing as I contribute every year, this could add up. Why does it cost so much to punch a couple of buttons? Why do you charge so much? I asked. To paraphrase the answer - "because we can."

Ok fine. The bank drone then showed me on his computer a simple statement  when each RRSP comes due. So now when each one comes due, I roll it into a holding account until (in 2013) I can transfer the whole lot in one lump.

Here's my gripe. Instead of a nice, simple statement (like the one on the drone's computer) I get my four page statement and it's completely unreadable. Do they do this on purpose? Do they want the consumers to just throw up their hands in despair and let things roll over so they don't have to deal with it?

I'll bet a lot of people do. I've been guilty of that. No more. On Monday I am going to phone telephone banking and keep them on the phone until I understand every line of my statement and until I know for certain that they are going to do what I want them to do.


And hey - did you notice that the snow has melted? Hurrah!

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