I wrote this in 2014, and have not heard anything from any major bank in Canada on the subject of RDSPs. The only time I do talk to a bank about RDSPs, is when I call to move my son’s money around.
I have waited 2 months for any bank or their representative to respond to my challenge laid down in RDSP: Question for Canadian Big Banks, and I am chagrined to say that none of them have even sent me a “Shut up you silly man” e-mail or comment yet.
I have done my best, I have complained to TD/Waterhouse about how archaic their deposit system is for their RDSPs, I have called out every other major bank for not offering anything other than GIC’s and Bank Based Mutual Funds for their RDSP solutions, and I have whined all over David Hodges at Money Sense (see the article), but nothing seems to want to change.
What are some next steps we can try? I would suggest that if you feel strongly about this contact your bank and voice your concerns, and if they ignore you, contact your member of parliament, as I will be doing today (my member of Parliament is Pierre Poilievre and he even has twitter, so let’s see what he does with a Tweet as well). Can an MP do anything about this? Maybe not, but maybe they need to be aware of it.
I would also suggest Tweeting your bank and ask them why the RDSP is being treated so shabbily ( maybe link to my original post as background ).
If you follow me on Twitter, you will see a sample tweet around 9:30 AM today (it is to my Bank TD asking why their deposit system is so cumbersome). I am not espousing SPAM’ing the heck out of the Twitter world with this, but it does seem that Tweets get addressed more than E-mails these days.
Maybe I am acting like Don Quixote on this subject, tilting at the Windmills that are the Canadian Big Banks, but I am tired of settling for the “we will get around to it eventually” response I get from anyone I talk to about this.
I’d love to say I spoke to folks and things got much better, but that would be a lie. I suppose it is time to start tilting at this windmill again.