Has RBC lost their minds over currency exchange?

Business Forum Personal Finance
41

Brady said:

Sayer said:
Mai said:
Which branch?

2157

Take those francs to a currency exchange place for a better rate, then close your RBC account.

Time for a ‘frank’ conversation with RBC!

42

@Luca
Oh, well played!

43

@Luca
Haha! Nice one.

44

Brady said:

Sayer said:
Mai said:
Which branch?

2157

Take those francs to a currency exchange place for a better rate, then close your RBC account.

This is probably the best answer. You’d likely get a better rate anyway.

45

Sayer said:

Mai said:
Which branch?

2157

Here’s an idea: just call them and ask why they really want the francs back.

46

Honestly, RBC should just eat the loss if they made a mistake. It’s wild they’d risk losing a customer over this.

47

Van said:
Honestly, RBC should just eat the loss if they made a mistake. It’s wild they’d risk losing a customer over this.

You’re right. RBC actually does offer currency exchange for Swiss francs, so this should not be an issue.

48

@Milan
Exactly. Since OP did the exchange as a client, why are they making this a thing?

49

Rowan said:
@Milan
Exactly. Since OP did the exchange as a client, why are they making this a thing?

Probably because they think they have the right to just take funds back. But they need to explain why first.

50

@Milan
Take funds for what, exactly?

51

Bailey said:
@Milan
Take funds for what, exactly?

Right? They can’t just freeze accounts.

52

@Milan
They have no grounds if they haven’t explained the issue with the francs. If they thought there was fraud, they would’ve flagged it immediately.

53

KateMelon said:
@Milan
They have no grounds if they haven’t explained the issue with the francs. If they thought there was fraud, they would’ve flagged it immediately.

If the money were fake, they wouldn’t be able to give it back. They’d have to hold it.

54

KateMelon said:
@Milan
They have no grounds if they haven’t explained the issue with the francs. If they thought there was fraud, they would’ve flagged it immediately.

If the francs were fake, it’d be the police contacting, not RBC.

55

@Rai
Yep. Federal crime territory.

56

KateMelon said:
@Milan
They have no grounds if they haven’t explained the issue with the francs. If they thought there was fraud, they would’ve flagged it immediately.

True, and if the manager authorized it, they should own up.

57

@Milan
They made the exchange and should own it.

58

@Milan
They accepted the francs. Case closed, right?

59

Keagan said:
@Milan
They accepted the francs. Case closed, right?

RBC has the right to end services with any customer. But that’s a weak excuse here.

60

Milan said:

Keagan said:
@Milan
They accepted the francs. Case closed, right?

RBC has the right to end services with any customer. But that’s a weak excuse here.

True, but this was completed in good faith. It’s all on RBC.