Personal Finance

Anyone else have bad experiences with Scotiabank?

  • Last Updated:
  • Dec 6th, 2018 10:57 pm
Tags:
None
Deal Addict
May 10, 2011
1300 posts
360 upvotes
Ottawa
thetipster wrote:
Jun 22nd, 2015 11:46 am
Agreed, Scotia's biggest problem seems to be their antiquated systems and business practices and processes revolving around these systems.
Another example is booking appointment. You can't book any appointment if you don't have an access card. They refused to take your name and phone number and use those to lookup your account. However you can't get an access card if you have just an investment account, but to do anything with an investment account you need an appointment. So every year to top up my RRSP account I need to argue with the person on the phone for an hour to get a 30 minutes appointment.
Newbie
Jul 18, 2015
1 posts
1 upvote
I discontinued doing over-the-counter banking in July 2012 due to two reasons:

1. The Scotiabank used to be a reliable bank when it comes to $10 bills. But it doesn't seem to be the case anymore, it seems as if Scotiabank in my region (St. John's) may be drifting away from ordering $10 bills, and thus renders my future visits to the bank useless now.

2. On two occasions, in 2004 and a few years back, I cashed a government cheque, and it was recorded as a deposit and then a withdrawal, thus resulting in an unnecessary service charge. Seriously, isn't cashing a government cheque always a free transaction? Fortunately, I did contact the main office about that issue, and they gave me back the 60 cents. But if they do this to hundreds of thousands of customers, Scotiabank could be robbing it's customers of millions of dollars per year.

I still do have a Scotiabank account, but I no longer have a desire to face a live human teller ever again because of the company's antics. Plus it is redundant now,since the frequency of new $10 bills at the branches is far less now as opposed to over a decade ago.
Deal Addict
Jun 6, 2015
1435 posts
232 upvotes
I can't stand Scotiabank, the West Georgia, Broadway branches in Vancouver are all incompetent. I'm waiting for my reward to be redeemed back with my Momentum and then it's au revoir.
Deal Fanatic
User avatar
Apr 20, 2011
5310 posts
477 upvotes
Vancouver
Gregster23 wrote:
Jun 21st, 2015 12:37 pm
You could throw this thread up on any of the big 5 and have a ton of people hating on each bank - its like any company and its run by people. Some people are ***** and some people aren't - when you have 10's of thousands of employees you can't pick 100% good ones. When you have millions of customers you are going to have a lot of haters - this isn't specific to Scotiabank.
Exactly. And they are highly rated anyway http://www.yelp.ca/biz/scotiabank-yaletown-vancouver - The Scene Visa is nice!
Newbie
Jul 26, 2018
1 posts
THUMBS DOWN. I would never recommend Scotiabank for disabled persons.

Scotiabank places insurmountable challenges for individuals with intellectual disability and using their services, when they are
over 18.

Unfortunately this portion of our population does not have drivers licenses, passports, picture work id etc. Their lives
in our communities tend to be more limited than others due to their disabilities . As such they do not have the need or
or are not able to qualify for these pieces of identification . Most banks are reasonable and accept birth certificates, ohip
and other bank cards in the person's name to open an account.


Case #1 A intellectually disabled young man turned 18. His dad is a 20 year scotiabank member
with a substantial amount in his account. Dad needed to open a second account a joint account with his son
so that they could receive his disability pension. The son's name MUST appear on the account for him to receive
his penion. Scotiabank did allow dad to open a second account but REFUSED to make it joint with his son.
Scotiabank WOULD NOT allow his very handicapped son to be added into the joint account because he only had for his son
a birth certificate and ohip card In an attempt to assist in this case we even obtained
picture id/signed and certified by the young mans doctor and worker. Scotiabank still refused to let them open a joint bank account
thereby blocking this young man from receiving his pension cheque or having the same options and abilities to access their services.

Tsk, Tsk Scotiabank It is sad, unfair and demeaning that you refuse your services to this needy portion of the population !!!!

Case 2 If a person does have an account as a intellectually challenged child that is joint with the parent and the account is in good standing and the
young person has been very responsible using a debit card for years....Scotiabank is unrealistic and unfair to these young adults and again does not accomodate their disability.

Scotialbank will NOT allow this young person (intellectually disabled) once they are over 18 that is on a joint account to open a personal savings account with multiple documents of identification including birth certificate, bank card for their bank, bank card from other bank and ohip this is NOT SUFFICIENT.

Tsk, tsk scotiabank......this individual CANNOT provide a drivers license, passport etc. They are your customer for years and you will not allow
them to do what everyone else is able to do open a savings account and SAVE MONEY!!


Scotia bank DOES NOT ACCOMMODATE THE NEEDS OF THE INTELLECTUALLY DISABLED!!!!

Royal, CIBC, Credit Unions I have found to be sensitive to their needs and realistic about the limitations and complications
imparted on them by their disabilities. I have not dealt with other banks so I cannot comment either way on them. I strongly
encourage individuals/child/adults/parents with intellectual disabilities to open accounts at one of the more sensitive, accommodating
and respectful banks.
Deal Addict
Jun 29, 2007
4257 posts
1071 upvotes
I deal with banks all the time. They are such large organizations that there are idiots at each one. Having said that, I have found Scotiabank by far to be the worst. Not just 1 person or 1 dept. I have come across 8 - 10 in various depts in the past 2.5 yrs and 5 or 6 over a recent issue, and they were incompetent in their knowledge or customer service.

I even wrote to their president's office. Issue was resolved afterwards right away, but no phone call or any contact to apologize or comment on my email to them.

Likely unrelated but I bought all 5 banks' stock in early June. BMO, RY, CM and TD gave 2.7% to 3.7% return (incl dividend), and BNS only gave 0.4% return.
Deal Addict
Jul 3, 2017
3194 posts
2161 upvotes
To be fair, all the Canadian banks are pretty similar. They all have their ups and downs in customer service. I have personal and business accounts covering all of the major banks, and I've had good, bad, and so-so experiences with all of them.

But having said that, Scotiabank is the only one where the service was bad enough that I closed my accounts, canceled my credit cards, and left permanently.

The issue was a Scotiabank Visa credit card that had a fraudulent charge on it. I reported it immediately, but they insisted that I come down to the branch and fill out a form in person, which I did. They said they would get back to me in 4-6 weeks. They didn't. I followed up, they said they were still investigating. 3 months later, still investigating. Then there was another fraudulent charge from the same source. I asked what they had done with my first report. Nothing, still investigating. That was when I closed everything and crossed Scotiabank off my list permanently.
Member
Jun 28, 2011
308 posts
56 upvotes
VANCOUVER
Exp315 wrote:
Jul 28th, 2018 10:14 am
To be fair, all the Canadian banks are pretty similar. They all have their ups and downs in customer service. I have personal and business accounts covering all of the major banks, and I've had good, bad, and so-so experiences with all of them.

But having said that, Scotiabank is the only one where the service was bad enough that I closed my accounts, canceled my credit cards, and left permanently.

The issue was a Scotiabank Visa credit card that had a fraudulent charge on it. I reported it immediately, but they insisted that I come down to the branch and fill out a form in person, which I did. They said they would get back to me in 4-6 weeks. They didn't. I followed up, they said they were still investigating. 3 months later, still investigating. Then there was another fraudulent charge from the same source. I asked what they had done with my first report. Nothing, still investigating. That was when I closed everything and crossed Scotiabank off my list permanently.
While I'm on a Scotiabank tirade, my experience so far has been terrible and I've posted about it on the Passport Infinite Visa thread.
Exp315's experience seems to confirm that I made the right decision to cancel my application. Who needs this hassle.
@Exp315: did Scotiabank not reverse the fraudulent charges?

But yeah, all banks are essentially the same and it's a matter of picking your poison.
It really does come down to the specific branch and staff and some are worse than others.
Deal Addict
User avatar
Nov 14, 2003
2575 posts
973 upvotes
Everywhere
travelandshoppingwoman77 wrote:
Jul 29th, 2018 2:51 am
I should have checked out that thread beforehand... live and learn :rolleyes:
Everyone has their own personal Scotia story. Now so do you. :rolleyes:
Member
Sep 6, 2016
494 posts
180 upvotes
I closed my Scotia account when they always forget where is there keys for safe-boxes and when they sniffed and licked my check to verify its authenticity
Public Mobile $110/12GB forever!
Deal Addict
User avatar
Oct 4, 2004
3870 posts
767 upvotes
Vancouver
1. They suddenly and without warning closed by Scene Visa card. It was not my main card but I did use it actively on Cineplex purchases. I had to go to a branch for an explanation and it was that I had to renew my student status every year. I don't think this was actually true because I hadn't all those years and because the Scene Visa is not a student card, nor was this written anywhere or brought to my attention at any time.

2. They bumped my ULOC rate from P+ 2.2% to P+2.8% arbitrarily. I know they're within their rights to do so.. but it doesn't leave you with much confidence to use their product as this represented a >25% rate increase when I'm in a better financial position than I was when they first offered me P+2.2.

3. I feel like they didn't honor one of their Apple Pay promotions where the first 25,000 (or something like that) people to make an Apple Pay transaction would be given something like 10% back up to $25. I had Apple Pay on day 1 and did not receive a penny.. so it's hard for me to believe I wasn't one fo the first 25,000.

Unfortunately, the ULOC is still very competitive and the ability to consolidate credit limits and bring them over to the LOC is just ridiculous. They also constantly pre-approve me year after year for the same products (Gold Amex with bonus after cancelling it when the annual fee hits). So... I still bank with them.
Removed external link in signature.
Newbie
Feb 11, 2015
52 posts
8 upvotes
East York, ON
I called them to close down my credit card. They asked me to visit branch. Ridiculous!

I again called them to do a balance transfer. I was on the phone (waiting for a representative) for over 22 minutes and still I was on hold.

Worst bank in Canada by a country mile.

Top