RBC Royal Bank (Meadow Lake) Reviews (%countItem)
RBC Royal Bank (Meadow Lake) Rating
Address: Box 728, 130 Centre Street, Meadow Lake, Saskatchewan, Canada, S9X 1Y5
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In 2015 my wife and I bought a condo in the Dominican Republic with our son, ***. We paid cash for our share, but *** could not get financing so we took out a mortgage on one of our houses to lend to *** for his share. *** made payments of $189.55 biweekly via automatic debt faithfully. We told our Banking Adviser, ***, what we had done and she took no issue with it.
On October 31, 2019 we sold the condo and the proceeds were put into my chequing account at RBC. On November 8, 2019 I emailed *** and advised her to pay out the mortgage and forward the remainder of the funds to ***. I receive an email from *** on November 11, 2019 stating she had sent for payout instructions. On November 21, 2019 I sent another email to *** saying I was getting concerned as the loan had not been paid out yet. *** replied that mortgages take 25 to 30 business days to payout. At the time I thought this was not correct as I am a lawyer and used to do conveyancing and it never took more than 3 to 5 days to get payout figures from the banks. However, because we were in the Dominican at the time I let it go.
On December 11, 2019 the mortgage was paid and the funds were taken out of my account and the remaining funds from the sale were sent to ***. At that time *** told me that the bank had incorrectly taken 2 payments out of ***'s account and had added $379.10 to ***'s money. I reviewed my account and the extra $379,10 was taken out of my account, but the bank had never put those funds into my account.
On December 16, 2019 RBC took another $189.55 out of my account. I phoned ***'s number and left a message. The bank manager, *** called me back and I explained that $189.55 had been taken out of my account for a loan that was paid off. She said the money would be returned. I said I wanted the funds returned today as they never should have been taken. She said there was nothing she could do. To today's date I have not received any documentation with respect to this mortgage.
Contact by the Business *** First and foremost, I would like a mortgage payout statement that shows what the early payout penalty amount is. Second, I think the bank manager owes me an apology for all the errors that were made with regard to this transaction. Third, RBC should change its policy to ensure clients are provided payout statements upon completion of any mortgage.
Be advised we have been communicating with the client, and this issue will be resolved very soon.
(The consumer indicated he/she DID NOT accept the response from the business.)
It has been more than a month since this matter came to light. The Royal Bank still has not provided me with documentation with respect to the payout of the mortgage that was paid out.
I believe that Mr. was provided the mortgage statement by *** on January 17, 2020. I have tried multiple times to contact him to confirm this and have left messages but have not received a reply. *** has now left employment with RBC so I really need to know if everything has been resolved. ***. My name is *** Branch Manager Meadow Lake.