Royal Bank Double Speak
I really wish the Royal Bank (or RBC) would have the guts to tell it like it is. In a recent piece of correspondence to me, some genius in the art of evasive writing wrote: "As of May 1, 2008, we will be changing the monthly fee for the RBC Signature No Limit Banking (TM) account to ..." What they really mean to say is that RBC will be increasing the fee.
What's more, the unlimited transactions the letter refers to are not at all unlimited. For example, there are strict limits listed in the first three items. After the two or three free transactions, a fee applies. I have no idea how that can be described as unlimited.
And then, they use some bizarre math to suggest that the savings could add up to $502.44 annually, but, to get those "savings", I would have to use American Express Travellers Cheques, rent a safety deposit box, obtain 12 bank drafts per annum, order cheques, get a specific RBC Visa card, etc. etc. In other words, the letter is full of half truths or pseudo lies.
But, I think all banks are guilty of such subterfuge. That's why they rake in obscene profits.
3 comments:
I think that is the DEFINITION of limited.
Banks do whatever they want and then pretend they're helping you.
You're right, it's ALL banks!
I can't believe the regular bank stuff that my bank is charging for now!
What happened to the good old days when the bank would give us a blanket or a toaster for putting $200 in our accounts?
Perhaps I should start my own bank?
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