$1 Trillion Bank (RBC) Plans Major US Expansion

[Economy 52,932]

https://www.bnnbloomberg.ca/rbc-plans-to-start-a-direct-to-consumer-bank-in-the-u-s-1.1393724

 

Canada's largest bank with nearly $1 Trillion in assets plans to follow the footsteps of other major Canadian Banks like TD (Toronto Dominion) in big expansions south of the border.

 

Canadian Banks which were one of the few to not fail in 2008 and remain among the world's most profitable largely took advantage of the US downturn to buy out assets for cheap and invade.

 

While RBC may not be more late to the party and may not be able to buy failing banks for peanuts like TD did they nervetheless want a stronger presence

 

RBC made a profit of $3.5 Billion last quarter alone (3 month period)

[Gabe 2,619]

That's my bank, tbh I've never had a single problem with them. Interesting. 

[Economy 52,932]

Just now, Gabe said:

That's may bank, tbh I've never had a single problem with them. 

My wife used them before she also said they were ok

 

My bank (TD) is pretty good with customer service usually but there's a couple times they really pissed me off

 

Once recently they didn't wanna change my dam premium credit card that I thought wasn't worth the fee and they kept trying to convince me otherwise

 

Many years ago when the Government first introduced the Tax-free savings account and I had a fair bit of money back in those days the financial advisor told me I could put $20,000 in there ($5000 for each year since it started in 2009)

 

Turns out because I only turned 18 in 2011 the 2009 and 2010 contribution room didn't apply to me and $10,000 over got hit with a massive penalty and government asked me for over $1000 in tax penalties

 

I was mad cuz his bad advice caused that and bank did not offer to reimburse

 

I wrote to Government explaining situation of confusion (they had the decency to at least help with paper work for that) and fortunately the Government did end up waving my penalty and I didn't have to pay it

 

I legit was angry tho

[StarstruckIllusion 53,580]

23 minutes ago, Gabe said:

That's my bank, tbh I've never had a single problem with them. Interesting. 

Tea... I mean other than my debit card suddenly not working with Apple Pay anymore. It might be an Apple thing idk. But then again I’m only 20 and havent made any big tests with them so imma keep my moof, clozd. 
 

I wonder if they’re gonna rebrand in the US. It’s not a very Royal and Canadian country they’re going to 🙈

[LaLuna 12,732]

I'm not supposed to say this but when I was working at an ad agency we had them as a client... Some of the most difficult people I've ever had to deal with 

I don't know about their banking services though. I've never really heard bad things about them.

[Economy 52,932]

6 minutes ago, StarstruckIllusion said:

Tea... I mean other than my debit card suddenly not working with Apple Pay anymore. It might be an Apple thing idk. But then again I’m only 20 and havent made any big tests with them so imma keep my moof, clozd. 
 

I wonder if they’re gonna rebrand in the US. It’s not a very Royal and Canadian country they’re going to 🙈

When it comes to Banking were not very royal ourselves so I'm sure they will fit in

 

Canadian banks are very agressive. They often Apple level profit margins (like 30% of revenue) kind of thing

 

I'm not surprised they are considered the "world's most secure banks". Money is what they literally swim in

 

A stress test study concluded a 50% housing market crash like the US would not cause a single one of our major banks to fail