Ethics

Boycott of RBC – make this a movement

RBC replaces Canadian staff with foreign workers, CBC, April 6, 2013

“Dozens of employees at Canada’s largest bank are losing their jobs to temporary foreign workers, who are in Canada to take over the work of their department.

” ‘They are being brought in from India, and I am wondering how they got work visas,’ said Dave Moreau, one of the employees affected by the move. ‘The new people are in our offices and we are training them to do our jobs. That adds insult to injury.’ …”

If this style of business offends you and you are a customer of RBC, visit Vancity or a nearby credit union. They’ll help you transfer your banking business and a year from now, you’ll wonder why you didn’t do it long ago. You’ll get better banking services and the community will benefit economically.

Categories: Ethics

69 replies »

  1. Bravo,Norm! I'll be at the bank on Monday, cancelling my accounts & my credit card with them. They don't want Canadian workers, then obviously they don't want Canadian $$.

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  2. Let them know certainly but you don't even have to go there. Vancity has a service to help you make all the changes needed, like switching pre-authorized payments and automatic deposits etc. I imagine the other credit unions can do the same thing. My wife has dealt with RBC for at least 2 decades but nobody in her branch knows who she is. This foreign worker story pushed her over the edge and is planning to close RBC Monday.

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  3. You've got to admire the big Canadian banks… they always find a way to make money. This new move takes the cake, though! I wish I was an account holder at RBC, so I could quit them.

    Years ago, our teachers' local was banking with the Bank of Montreal and they were charging US for making deposits. We quickly switched to the local credit union, where we earned a slight bit of interest on our chequing account.

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  4. Motorcycle guy reminds of a song from Alice's Restaurant, the good-natured movie from the sixties, starring young Arlo Guthrie. (I loved that movie at the time but wonder how it holds up today.)

    “And three people do it, three, can you imagine, three people walking in
    singin a bar of Alice's Restaurant and walking out. They may think it's an
    organization. And can you, can you imagine fifty people a day,I said
    fifty people a day walking in singin a bar of Alice's Restaurant and
    walking out. And friends they may thinks it's a movement.”

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  5. This will be a public relations disaster for RBC and it doesn't look too good on Kenney either.

    btw, RBC CEO Gord Nixon made $12.6-million last year in salary, stock, and bonuses – a 25% increase from the year before.

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  6. Well we know that the banks got rich off the backs of lower paid jobs filled by women for decades now. Now they see an opportunity to even better that by importing bodies to exploit even more. So disgusting.
    It will take more than closing your accounts. You need to move your mortgage as that is where the profits really are in banking. Lending money.

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  7. Same thing is happening in health care. The government has had a temporary foreign worker program running in the Phillipines for a few years now. Specifically aimed at long term care workers and live-in caregivers. Our nursing homes are now full of these temporary foreign workers.

    By the way, Vancity is great. We were long-time RBC customers but gave up over 10 years ago for the same reason your wife did. Being a good and loyal customer meant nothing to RBC. Good call Norm.

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  8. Always amazes me the back room things that go on we would never know about if it wasn't for reporters and bloggers to spread the word. Good on you Norm for bringing this to our attention and good on CBC for covering it in the first place. We've been with RBC for a long time – and they know our name – but we will be making changes – and making sure they know why.

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  9. I wouldn't go to Vancity, they are just the same as RBC.
    They screwed me over just like the Big 5 do, lying and obfuscating when you want your money out of their investments.
    I lost 25% of my investment while trying to get it out and that Tamara Vrooman (and the heirarchy) wouldn't even let me address the situation at the AGM because that would have shone them in a bad light.
    Tamara Vrooman was once a BC Liberal Minister of Finance under Guido Scambell, so what does that tell you.

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  10. Don't close your account, just take all the money out and leave a few bucks in it. They will charge you to close your account, this way they will still have to maintain it and send you statements. At least get your pound of flesh from this thieving slugs.
    I run two business, one in BC and the other in Alberta and deal with the Royal Bank. I will be giving them a lot of grief. I don't owe them any money and will be keeping my deposited amounts and savings to a minimum. I plan on using all their services until they ask me why(and they will) I am keeping larger balances in a different financial institution.
    If you have any leverage at all use it to stick it up their ass.
    By the way I believe this is all part of Harper's plan to make Canada into a third world Kleptocracy.

    CGHZD

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  11. I have dealt with Credit Unions for years. However, I am e-mailing everyone I know, to get their money the hell out of RBC.

    Harper is bringing over, $800 per month, Chinese resource workers.

    Now bringing over East Indians?

    My son reminded me of Harper's speech regarding, Global Governance for Canada. Harper certainly is all for that

    Harper's Omnibull-S-Bill gives China permission to sue any Canadians blocking Communist China's invasion of Canada. 300 BC miners applied for the 200 jobs, that were given to China. Chinese resource workers earn, $800 per month.

    CSIS even warned of, China's huge intrusion into Canada. BC was specifically mentioned. Campbell sold BC out, to Red China long ago. People refused to listen to that too. Canadians are well known for, sleeping through absolutely everything. Harper counts on it.

    Time for BC, to get the hell out of Harper's Canada. However. I am sure we will just sit here, as the fools we usually are, while our entire country is given away, by a total, dictator, tyrant of a monster.

    Bully for those who can live on Chinese wages of $800 per month. Most Canadians can't.

    What part of that don't people get?

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  12. I moved my accounts to a big credit union more than a year ago from the Royal Bank. Glad I did too because my banking costs have gone down. Even my credit card interest rate was cut in half but they arranged a line of credit and the credit card gets paid automatically. Now Visa gets paid every month before their high interest rates even kick in.

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  13. Whoa Yeah! Fat's in the fire now.
    I'm like G. Barry Stewart: wish I had an RBC account so I could shut it down over this issue. Sort of sad I already did that thirty years ago–also fired, over the years, almost every other chartered bank, TD, BMO, ICBC, etc…ended up with Scotiabank cuz they had a low-interest credit card (which I no longer use)…
    but this latest thing's got me so disgusted think I'll fire them too, move everything over to my credit union—finally!
    Thanks for the push.

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  14. The biography of Gordon M. Nixon, the CEO of RBC is quite chilling in the Rockefeller like PR spin on his co-chair duties with The Toronto Region Immigrant Employment Council, the Ontario Premier's Jobs and Prosperity Council, and other lofty sounding accomplishments, to present a facade of altruism to yet an other loathsome Economic Hitman.. There must be two Gordon M. Nixon's. Full biography available at http://www.rbc.com/newsroom/pdf/Profile-Nixon-June2012.pdf He made 11.9 Million last year.

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  15. Norm this has been going on for TWO to THREE YEARS!!!!(it has only now come to light because the higher paid I.T. people are complaining). i know. my girlfriend works in RBC business banking here in Toronto for many years. people going back and forth to India (iGate) training them and the like. functions that use to be done here in Toronto are no longer done in Canada but overseas. it would be absolutely ridiculous to suggest that Canadian jobs are not going overseas. they hide it through attrition and laying off the temp agency (Kelly) people that they swell their ranks with. full time or temps losing their jobs is still jobs going overseas. 🙂 MADSADORGLAD twitter

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  16. Very troubling…if Canadian politicians are selling out Canada, isn't this what they call “economic subversion”? The next logical point of discussion is “economic treason”. Global governance is another term for the wealthy elite controlling everything…this is setting a dangerous precident…

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  17. I have already called and cut up my RBC mastercard. Monday i will be shipping my money to another bank.Please check other banks if they are not using this practice. I will never go bak

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  18. RBC is lying. They have been getting away with this since 2005. Whole departments have been let go and replaced by iGate. Hundreds of people have been laid off not just 45 as per the CBC News report. RBC also says they are helping the employees find jobs another lie. RBC has stayed out of the news far to long. I am grateful that David stepped it up and let the cat out of the bag, something I did not have the guts to do. RBC is run by GREED. When you see their Client First commercials, the client is not you or me, it is the shareholders.
    Signed Former RBC employee

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  19. I think we need to get organized and start boycotting all of the companies that do this; RBC is just the tip of the iceberg. Rogers and Bell do it, oil companies up north, all of the other banks (and the list goes on and on)… it is time we let our money talk for us. We have subsidized the banks billion dollar profits – time we start putting our money in socks and keeping it from the Canadian banks. We have been gouged with fees for this and fees for that all the same time they jack up lending rates and crawl back interest rates on our money they use to lend out to others again on the backs of our honest investment.

    Canadians, it is time to stand up to all of these injustices. I think we need to take things in our hands and show the companies we expect more! Time for governments change laws – enforce laws and make sure businesses cannot hijack the Canadian way in the name of raping for profit. Time we make this all stop – who is with me?

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  20. I have a mortgage at RBC. I guess there is a penalty if you move a mortgage before it is up for renewal, isn't there?

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  21. I think we will have to get rid of the Conservatives if we want a government that will make and enforce laws that benefit ordinary citizens rather than corporations.

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  22. Depends on the individual borrowing agreement. Sometimes, borrowers can save money by changing mortgages. Something to review with a person you trust who knows today's markets. That might be at a lending institution or at a mortgage broker. Be cautious though, ensure the people you deal with have good reputations.

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  23. I'd put the federal Liberals on that same trash heap. They still have many insiders hoping for restoration of the good old days when corruption and self-dealing was merely business as usual.

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  24. I have an RBC account that will be closed out this week. I will make sure my reasons are made clear to them and not look in the rear view mirror as I drive away. Waiting on this government to act on this will be more of my prescious time waisted. On this matter it is best to rely on ourselves.

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  25. Time for a revolution. Kick these greedoids and their enablers out and put in those will will look after the needs of the 99% and not the 1%.

    There was that CBC revelation about how the rich are using off shore tax havens to avoid taxes. Go after the rich, those that enable them [accountants, lawyers, advisers] and have the streets running red.

    I hate using popular culture to prove anything, but there was a line in the movie “The Firm”, “Go after the lawyers, without them organized crime can't succeed.”

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  26. The Royal Bank isn't the only one who uses over seas workers. Other banks have already sent the work to other countries. Its just RBC got caught because the company they contracted with brought in workers. Yes, that is RBC's out, they didn't bring the workers in, iGATE did! These banks make billions in profits, hve had great tax deals from various federal governments and they still can't make enough money. No they want even more profits so they ship the jobs over seas.

    We have only to look at Telus. Their president, Darren Enthwisle, made $11M last yr but the company has its call centres in Asia. Those used to be Canadian jobs. Telus wanted bigger profits so now those jobs are in Asia and Canadians are unemployed.

    The federal Conservatives may be sprewing out about how they have “tightened” foreign worker visa systems but at the same time they passed legislation which permits Canadian companies to pay foreign “temporary workers” 15% less than Canadian workers.

    If Canadian companies are going to send jobs overseas and bring in foreign workers then the government should ensure they pay a higher rate of income tax than other corporations.

    With our banking IT systems being worked on in foreign countries how secure are our accounts? How is the information being used? Who gets to access it? How is our privacy being protected? It certainly won't be subjected to Canadian laws.

    Canadians need to make it very clear to the Harper Cons, jobs need to stay in Canada. If we need “temporary workers” for more than 4 months, the workers get to come as landed immigrants. Much of this “temporary visa” shit is just to avoid paying decent salaries and having the workers unionize.

    Start banking with your local credit union and forget about the banks because the banks have sure forgotten about Canadian workers. They don't pay taxes at the rate workers do. They charge excessively on the bank charges and interest rates on credit cards. The Harper Cons just make it easier for them. We have Harper running around wanting more free trade agreements with any dictatorship willing to sign.

    With another 50 thousand jobs lost in Canada last month, we don't need the Royal Bank bringing in foreign workers and we don't need the banks and Telus sending Canadian jobs overseas.

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  27. Wow! 41 comments and counting. Sounds like this is a real sore in Canadian's backsides, like robo-calls. I expect to see news reports this week of masses of account holders at the RBC jamming their local branches to close everything and say so long. Woot! Woot! I love it when Canadians come together for a common cause that helps them.

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  28. Call your branch at RBC and politely ask what the policy is and explain the action you anticipate in light of their apparently illegal action. Then ask for a toll free number for head office and call them. They will be thrilled to answer your questions. Remember, they should be grateful to you for reporting this breach of Canadian laws.

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  29. I think I will also go to the RBC in the morning to ask the bank manager about their hiring practices before I hand him my credit card and empty my account
    Maybe sing a few bars of Alice's Restaurant while I'm there.

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  30. These banks were also the very ones who complained about competition hurting them in the 1990s when ING was knocking at the banks doorstep. The made it difficult for foreign banks to compete here, accusing them of having no patriotic interest in Canada. If RBC wants to be unCanadian, then bring in the foreign banks and real competition, since foreign banks and RBC do not have Canadian interests at heart anyway. RBC can become a patriotic Canadian citizen or get out of town.

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  31. It is 430am right now. At 9am sharp I will be at the door of my local RBC to close ALL of my accounts with them, so will my husband. We'll be joining the local Credit Union. 🙂

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  32. I hate, hate RBC. When researching the disposition of my grandmother's estate I found out through the Wills Registry that my grandmother had vested a copy of her will at RBC's West Vancouver branch. I contacted them to obtain a copy only to be ignored and then finally told that they didn't know who my grandmother was which given the value of the assets she had managed by them was complete bunk. I suspect some very dirty business at this branch, considering my aunt could only produce an unsigned will and refused to provide an accounting for the estate.

    If you have any assets worth passing on to the next generation, then I'd strongly advise you to avoid RBC like the plague.

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  33. I just closed my account. They asked why i said you make tons of profits and lay of Canadians that not good business. RBC lost $10.541.00 dollars today. Credit union on the way. My family and freind are doing the same. RBC Shame on you Canadians matter. To the CEO of RBC i will never bank with you ever again

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