• As most of you are aware, I try to write about ideas that would be of interest if our roles were reversed. Today’s topic at Robert Floris’ Mortgage Architects office is how the Big Banks have certainly changed over the years and not for the better. My incident happened at my local branch. in the last 10 years, I had given this major chartered bank over $50 million in business. Do you think I ever received a thank you? Nope! So last week I asked them to waive my $7.50 certified cheque fee. The answer given to me: NO. I was told it was the “cost of doing business”. Well, I’m about to show them the cost of doing business.

    In seeking answers, I found out I’m not alone. Check these flattering comments which were easy to find:

  • Banks are greedy monopolies.
    They will fee you to death.
    75% of Canadians stated that they do not trust their bank as they fail to meet their expectations.
    Canadian banks rank low on fairness, transparency and reliability.
    Responsible for building such high debt.

    • What can we do about this awful situation. I wish I had the answer. We, as consumers, are powerless. I will look elsewhere to do business but will this really produce long term results. No, quite frankly they could not care less. I could go to PC and have no fees but you get what you pay for.

    Try writing to the CEO, your letter will not reach them. How do i know? I tried.

    The only conclusion I have come to is that there are no good banks, only good people. If you are lucky to have a bank employee who really cares, don’t let them go!

    Robert Floris is a Mortgage Broker serving Hamilton, East Mountain, Ontario and the rest of Canada. Robert is about more than just the best mortgage rates. Robert believes in educating the client. If you are refinancing, purchasing or consolidating your debt, go with somebody you can trust and someone with 25+ years of experience. Contact Robert today at 905-574-9200 Ext. 215.

    Robert Floris, CFP, AMP
    Mortgage Planner
    651 Fennell Avenue East
    Hamilton, Ontario

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