Disappointed and Done with People's | Peoples Trust | Discussion forum

@svg1234
Very similar situation. I also had large amounts transferring to PT, but I pushed them from Hubert. I also had troubles and waited nearly 2 weeks, before finally getting through to a CSR to handle some moderately complicated issues of TFSA/registered account setup and joint concerns. However, once through, my complex situation was readily handled. Of course, I absolutely agree with you regarding their total ignorance of all my phone calls, messages, e-mail, and even fax requests. I only lost out on some interest and can only imagine what deeper level of Hell I would have to travel if my issue actually involved something serious like fraud or a security breach!

To be fair, I had similar contact issues with major banks like CIBC and BNS, too. The best service is from Hubert.

If you want to continue calling, your best bet might just to be up early and phone as soon as their lines open. That way, you can try to avoid the queue (or at least be at the head of it.)

I pulled in ~$200 on Feb 1 to top up to an even amount but still on hold.

When the hold is (eventually) off, I likely will just push it back elsewhere, as it was already a hassle to call them and make a GIC joint at the best of times.

I guess their notice on website "Notice: Our great rates have generated higher than normal call volumes and callers may experience longer wait times. An option is to click 'Contact Us' at the top of this page then click on CONTACT FORM and complete your request. We appreciate your patience and will service your call as efficiently as possible." is there way of lowering expectations.

RetirEd said
Only once have I faced a hold on incoming funds at PT. It was about a month ago. I called and the rep said on no circumstances would they life a hold early, but I told him to check with higher-ups. He willingly did, and they immediately approved the withdrawal. (A four-figure amount)

I have accounts with both PT and PB, and several GICs totaling close to their deposit limits.

This week, though, I've been trying to get some of that juicy 2-year 5.4% money for four days but nobody calls back. I hope this is improved soon! And that I can still get the rate.

RetirEd  

My experiences are the opposite. They always release the hold for me as soon as I tell them I want to put that money into a GIC. The money is still on hold in GIC form but starts earning the GIC rate, to avoid interest slippage.

Maybe I got lucky but I called them last week and recd a call back few hours later. That was with PT.

Call when they first open is the trick.

RetirEd said
This week, though, I've been trying to get some of that juicy 2-year 5.4% money for four days but nobody calls back. I hope this is improved soon! And that I can still get the rate.

To hold the rate, you could apply via the website:
https://applications.peoplestrust.com/en/

Select Existing Customer option.

As I understand it, a new application for an existing customer holds that rate for you once the application is submitted. I believe you can either fund it from outside or with existing PT eSavings accounts. Even if you make an error, I think that the application will serve as a placeholder until you can get in contact with a CSR.

TommyT said

It depends on the sum of money and how much money is in your savings account or chequing account. Their hold period is in their fees schedule. If they hold funds they make sure the hold period of time coincides with the weekend.  

All holds these days are 5 biz days, and it will "magically" coincide with a weekend. I dont know of any 5 biz days that doesnt. They dont "need to make sure" it does....

Not every institution is evil nor every intention is evil....Sigh

semi-retired said
Easy Peasy.  

Try and change the maturity instructions to Non-Renewal. See how 'easy peasy' it is.

It can take longer to get someone on the phone than for funds to transfer!

Helpful observances:
1. The PT local number in Vancouver (604-331-3465) will still get answered weekdays from 3am PST (6am EZT) for some reason. May be temporary because of backlog.

2. The toll-free 1-800-663-0324, though, waits until later. 9am I think, but it's not consistent enough for me to make a commitment.

Well, I did eventually get through and snatch some 5.4% 2-year, filling a nice slot in my ladder. At that rate I'll let it compound.
RetirEd

Thank you, semi-retired. Very appreciated. How long does it link Tangerine to PT?

If I knew earlier, I wouldn't be charged for NSF. On the day I placed an order at PT, it said it needed one to three business days, even you placed on transferred now. Than I thought the fund would be withdrawn in next morning as usually (I already transferred once it works in this way), so my fund was available before 11:30pm MT (it was transferred from my saving account with promotion interest 5%). However PT withdrew fund early at 9:30pm so that it caused a NSF. It is a lesson to learn. I am so desperate with PT, very poor customer service, not only by phone call, also by email. In the opening account email, they said if you have questions, you can call and email mentioned phone number and email address, however when you made a call, it was not in service or no spot for service. When you emailed, you wouldn't get any response.