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‘We are no longer in a position to continue our banking relationship with you’: Ontario man dumped as bank client after 30 years
It doesn’t happen very often, but a bank can ‘un-bank’ you, telling you to take your business elsewhere and closing your accounts with them.
“There is no reason for this,” Tomas Nassab of Alliston told CTV News. “I’m not part of any criminal network. I’m not into fraud. I’m just an average guy trying to get through this Canadian world.”
Nassab said he has been a customer with the Royal Bank of Canada (RBC) for nearly 30 years. He told CTV News he has lines of credit, credit cards, and investments with RBC and oversees his parent’s accounts with the bank as well.
However, Nassab said when he was trying to move money in his investments, he encountered difficulties getting in-person service, so he complained to the bank.
“I made complaints to a couple of branch managers as well as a regional community manager and within seven days I was told all my accounts were being closed,” said Nassab.
If the decision is made to end the relationship, the bank does not have to explain the reason behind it. However, they do have to give former clients enough time to move their money and investments.
