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RBC to sell RBC Bank USA to PNC Bank - Questions
Posted 26 June 2011 - 09:28 AM
I'm not from Canada but I do have a RBC Royal Bank checking account and client/atm card that I opened on a visit many years ago. The balance is small, but I keep it handy. A couple of years ago I opened a checking account, debit card and credit card with RBC Bank USA. The account is their Access USA (Embassy) checking account that lets me transfer money between my Royal Bank checking. An email I got from RBC Bank USA explained they plan to keep the Access USA accounts, and they'll explain it in the coming months. Does anyone know more about this? Do they plan to offer US banking without branches? They also said they plan to still offer their US Dollar Gold Visa Card. I have a regular RBC Bank USA Visa Card, and not the Canadian version, so I'm assuming that will become a PNC Bank Visa Card. In that I'm in a unique situation in that I don't live in Canada but have their Access USA account, I'm hoping they don't throw me in the same boat and convert that to a PNC account. To make matters worse, I am already a checking and credit card customer with PNC. I didn't plan on having my RBC stuff combined into PNC, since they serve different purposes.
If anyone has any further insight on all of this, please post.
Posted 15 October 2011 - 02:37 PM
RBC was and is very conservative with their lending. They did purchase a lot of smaller US banks - that's how I ended up with them. I love them. I will be very sorry to see them go.
I started with my bank in 1995 when I moved from another city. At that time it was a small regional savings bank. Later, as the banking laws changed, they were bought out by a larger bank who was then bought out by a larger bank. Fortunately, the local branches kept their management, and they have always been a very nice bank to deal with.
I believe that RBC will do what they say - they just do not want to have to operate a full service bank under US regulations now.
footnote - I hope no jobs are lost in this transition.
Posted 02 November 2011 - 08:53 AM
As a highly valued RBC client in both Canada and the U.S., your relationship is important to us and we're committed to fully meeting your banking needs.
As you may know, RBC plans to sell the majority of its U.S. banking operations to PNC Financial Services Group, Inc. (pending regulatory approval). At the same time, RBC is building a new U.S. banking operation to continue delivering superior cross-border banking capabilities and the high level of service you have come to expect from us. As a result, your personal U.S. account(s) will remain with RBC and you will continue to enjoy the convenience of products such as RBC Access USA®, online funds transfer, and integrated Canadian/U.S. contact centre support.
You should have already received a letter from us in September where we asked you to confirm your contact information in order for RBC to communicate with you over the next few months regarding the transition of your account(s). As many clients travel during the winter months and/or have seasonal addresses, we want to ensure that we have your correct information, including your mailing address, email address and phone number(s).
If you have any questions or wish to provide an alternative mailing address please contact
We will keep you informed throughout the transition to our new U.S. operations. For ongoing updates and information please visit http://rbcbank.com/transition .
We look forward to continuing to serve you with the high quality service you have come to expect from RBC.
Here's another. I guess they're getting rid of the account aggregation service in preparation for the sale to PNC. It doesn't affect me, as I use such a service elsewhere.
No client action required: Effective December 7, 2011, My View account aggregation will no longer be available to RBC Bank clients to view and manage accounts held with other financial institutions. As of this date, you will notice the 'Online Banking Account Balances' page will no longer display other 'external' financial institution account information. If you are also an RBC Royal Bank client in Canada, you can continue to view and manage your Royal Bank of Canada and RBC Bank accounts using a single online banking screen, including cross-border funds transfer, via One Sign In. You can access One Sign In by clicking on the 'Update Profile' link on the 'Online Banking Account Balances' page. If you have any questions or concerns regarding this change, please contact us at 1-877-RBC Bank (722-2265).
Edited by Burgerwars, 02 November 2011 - 09:02 AM.
Posted 08 November 2011 - 09:32 AM
RBC Bank's website does have more specific dates about the transition. Mainly between January 30th and February 17th, cross-border customers will be getting new checks and credit and debit cards (for whatever they have now). Over the weekend of February 17-20, the accounts get transferred. Since the RBC Bank/PNC Bank transition is supposed to happen in March, I'm unsure between then whether RBC Bank branches will still be helping cross-border customers. I'm guessing they won't, as the accounts were transferred to this new RBC entity.
Posted 20 February 2012 - 09:03 PM
I found this page interesting: http://www.rbcbank.c...cid-296832.html
RBC Bank's CEO talks about an "expansion into the Southwest U.S., with offices and an ATM network, to better accommodate the needs of clients living, vacationing and working there."
Maybe RBC Bank won't just be an internet bank with no branches. Since I live in the Los Angeles area, I'm hoping for branches here.
Edited by Burgerwars, 20 February 2012 - 09:04 PM.
Posted 20 February 2012 - 09:40 PM
Posted 20 February 2012 - 09:54 PM
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