Suspicious phone call from the bank.

[Laurentien2]

Last evening we received a phone call from our bank (RBC Canada) offering us to open a U.S. dollars account because, as for the last few days, the Canadian and U.S. currency are at parity they offer us the amazing opportunity to increase our asset because as we all know, the U.S. dollars will raise up shortly.
We have been with this Bank for 15 years and never have we receive any such kind of offer, I'm no expert in economy but why would a bank offer you to make a deal like that now, when the U.S. dollars is plunging and the U.S. economy is about to collapse. Are they (Canadian bank) trying to sale their American dollars knowing that it's about to go down to minimize their eventual lost. I smell a fish here, maybe other Canadian forum member had similar experience or know if this a usual practice.

 

[Ollie]

When I get a phone call like that I always ask them to put the offer in writing for me to consider, that way you get rid of a lot of the scammers, or you could visit your local bank and check out exactly what is happening.

 

[Laurentien2]

When I get a phone call like that I always ask them to put the offer in writing for me to consider, that way you get rid of a lot of the scammers, or you could visit your local bank and check out exactly what is happening.

A old friend told me some years ago when he started is business "the Canadian bank as a license to steal" , a few days ago watching the news, a economist was saying that the U.S. dollars may plunge as low as 85 cents in the next years. Imagine how much money the bank will make by sailing now to their customer if it was to be. I have no time to check with the bank if it was a genuine call as I'm leaving soon for the airport but I'm curious to know why they are pushing this now. Receiving call from them (bank) is a weekly lot here, for credit card or insurance but encouraging customer in this way is a première for us. Only time will say!

 

[Gonzo]

That is strange. I too have had an account with the same bank for a while but have not received such an offer (yet).

Perhaps you could check your online banking to see if there is a similar message there. I would also contact your branch to verify such an offer exists first, to ensure it's not a scam from someone other than the bank.

It wouldn't surprise me, but that would be such a blatant case of bad advice that I think it would be worthy of complaining to Ombudsman for Banking Services and Investments (OBSI) or the regulatory body, the Office of the Superintendent of Financial Institutions (OSFI).

Gonzo

 

[Redrock12]

Laurentien,the Rothschilds are the major shareholders of RBC shares. Should not that be an indicator of how much trust you should place in any advice your bank-actually any Canadian chartered bank-gives you?
I have a close relative who was defrauded out of at least a million dollars by the CIBC. I have an acquaintance who discovered that if you pay off a consumer loan ahead of time, they will charge you the full interest on the loan anyway. However, this fellow happened to be politically connected, and the Feds did put a stop to that practice. And who knows what kind of shenanigans they pull on their all-too-trusting customers.
As well, their employees are paid crap wages, not much above the minimum wage, considering they are required to adhere to a strict dress code; female employees cannot wear open-toed shoes, and male employees are required to wear white shirts and a tie with dark slacks and dark shoes. My advice to you, fwiw, is to do some research into the banking system and pull your money out of RBC asap and put it into a credit union.
Hope this helps.

 

[Ca.]

Like most banks did in the 90s, that (increase profits with interest rates running as high at that time 17 to 20%) would incur appetite for risk, was to send me unsolicited applications for credit cards. So heavy was the volume I had buy a shredder to destroy the documents, as they coming in at rate of I think around 10 applications a week. And this went on into 2005.
That has incurred a unpaid debit in the u.s. financial system in the trillions.
Not only that, but there would be another push to mortgage holders to gamble. That was the continued letters for the mortgage companies and banks for the re-fie and the push and the talk of using some that equity in the home to take a vacation, pay college tuition, but new cars, you name it, they all had ploy or should I say a scam a rama.