‘President’s Choice Financial’ OR ‘Why Free Banking Isn’t Free’

11 03 2008

I opened a savings account with the good people at PC Financial – A direct banking subsidiary of RBC Financial! Because at the time they had the highest interest rate savings going and I needed to park my money while a few things happened. Not least among these was the creation of a new E*Trade account to replace my BMO Investorline one which at 26 or 28 bucks a trade was simply too much anal pounding to take in one go.

Anyway.. with the account set up I go to fund it from this PC holding tank. You know that disclaimer before every transaction where they tell you it can take up to two business days for anything to get done? The one you ignore because shit goes through instantly 99% of the time?

Yeah, PC Financial doesn’t fuck around. You better take your two days. Oh, and everything needs to be post dated by at least a day – EVERYTHING. So, its more like 3 days to do anything with your money.

I guess when RBC decided to back this operation they gave the PC kids whatever parallel gerbils-on-spinning-wheel powered servers they had in the back room.

Either that or you really do get what you pay for…. those bitches.

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