Sunday Apr 20, 2014

RBC Revises Branch Hours

3 May 2011

Over time banks adjust their hours to suite the needs of their customers. One perfect example is TD Canada Trust, they decided to add Sunday to their day of operations, allowing clients to bank any day of the week.

With that said, RBC has revised their schedule as well.

What is RBC’s new schedule?

RBC has decided to revise their branch hours of operations, and I was able to get my hands on the new schedule. The new schedule is as follows:

DayNew Hours
Monday - Tuesday9:30 am - 5:00 pm
Wednesday - Thursday9:30 am - 8:00 pm
Friday9:30 am - 6:00 pm
Saturday9:00 am - 4:00 pm

For those who may be unfamiliar with RBC’s current hours, I listed them below.
DayNew Hours
Monday - Wednesday9:30 am - 4:30 pm
Thursday9:30 am - 8:00 pm
Friday9:30 am - 6:00 pm
Saturday9:00 am - 3:00 pm

As you can see, the changes made are quite significant, seeing as Wednesday now has branches open till 8, 3.5 hours more than the old schedule. Saturday has also gotten a significant boost in time, as branches will now stay open another 1.5 hours. Monday and Tuesdays realistically have little change made to them seeing as it is only an extra half an hour, but then again that is just my opinion on the matter.

RBC Royal Bank Branch and ATM Locator 2011 07 04 11 28 06 RBC Revises Branch Hours

How does this change compare to other banks?

Do not get me wrong, these changes are great, it is a great step forward into providing clients with more hours to bank with RBC, however I still find RBC falling short of their competition.

TD offers probably one of the best hours of operations you can find. The majority of their branches are open from 8:00 am – 8:00 pm Monday to Friday, and 8:00 am – 4:00 pm on Saturday. Like I said before, TD has also decided to have branches open on Sunday, making them a great choice for anyone looking to have the ability to walk into a branch any day of the week.

With that in mind, are the changes RBC made enough to keep up with the competition? TD has been recognized as the highest in customer satisfaction among the Big Five retail banks. J.D. Power and Associates examines convenience/ facility in their study, which is no surprise TD scores high in that category as well.

RBC is making improvements, which is great, but I feel they could do much more, especially when you look at what TD is doing.

How do you feel about the new hours

image source: CCTV Surveillance Signage

About the Author

Sensei

My favorite weapon of choice is the samurai sword. I use it to cut my chicken during dinner, cut my hair and periodically carve my name into stone when I am bored. I love meditating on top of a 15ft high pole and eating those sushi’s with smoked salmon on top. I love everything there is about Canada and everything financially related to Canadians. I write deily posts from Canadian Banks to Credit Card information.

Comments (6 )



John Wrote:

I am presently an RBC customer, I tend to go to the bank before noon time or after 3 pm, so the changes will not affect me too much. I must admit I would prefer longer hours since this would reduce the number of people who go to the bank at the same time as me.

I find that the service at all the major Canadian banks has improved over the years, online banking has reduced the number of times I go to the bank. Many bank branches now have a customer service person when you enter the bank, they even say Hi to you.

I speak English but many banks now have employees that speak many different langauges, from Greek to Hindi, this makes many of there customers very comfortable.

During my MBA we did research on RBC and they are very interested in what customers think and how to get a bigger piece of the Canadian market. The biggest obstacle to change is the sheer size of the banks, minor changes can cost millions but a major changes will cost millions and take years to complete.

Maybe these changes are enough for now but competition will force them to meet challenges from TD, BMO, etc in the future.

[Reply]

Jeff Wrote:

I too am a RBC Customer, in both Canada, and in the U.S.A. (Georgia).

This is the difference I find between the the two banks.

1) I don’t need 12 hour service, and a 7 day a week banking, why? because I have good credit, and my bank provides the automated facilities to access these services in off hours. RBC trusts me. As a result, my loan and credit line products are almost two percent lower than TD.

2) TD seems to cater to those with less than perfect credit, they do not seem to trust their clients, and these extended hours are expensive, resulting in consumer loans and credit 2-3 percentage points higher than RBC.

3) RBC gives me ease of use in both Canada and the USA. My RBC US Visa is a bona-fide US Bank Issued Visa card, building a US Credit rating. It’s not s pseudo-US Credit card offered by the other banks (Card has to be issued by RBC Bank (Georgia) N.A.) while TD boasts of a huge US network of services, none of those services are available to clients in Canada.

So TD might win with the total hours of branch availability during the week, but RBC hands down beat them in Total-Customer service when it comes to product availability on both sides of the border, lower rates, and better ATM access with high cash-back limits for customers with good credit ratings. RBC doesn’t need longer hours unless it wants to crack the sub-prime market, and if they do, all clients foot the bill, like TD.

[Reply]

Sensei Reply:

RBC definitely wins with the cross border debit, however you could always look at Scotiabank for their Advantage card, which offers both Visa and Debit purchases. I do not look into the US credit rating system and how Canadians can build their score up (but you gave me a great article idea, so thanks :) ) so I am not well versed in this topic, but if it is as you said, it makes sense to be with RBC.

Gotta admit TD in my opinion really dropped the ball with increasing the interest rates for various clients. Especially when a lot of people affected were long time customers not to mention keeping on top of their credit.

I see what you are saying, however TD provides a level of service that RBC does not. That is one reason TD has won the customer satisfaction award from JD Power and Associates so many times (in a row if I may add). People see that having the bank open that extra day is convenient. For me, I like being able to drop in a cheque at any given day of the week, and sometimes, Sunday is the only day I have free time.

[Reply]

john Wrote:

I too am a RBC Customer, I like the new schedule , Its not hassle anymore for me

John, Foreclosure

[Reply]

Joe Wrote:

R u guys all out of your mind I, I ,I, do u realize u are all off on Sunday, what happened to the good old family time spend with your families on Sundays , no I guess u all prefer to walkin a bank to do What, wait in line to deposit a ck or pay a bill, is this a joke or what the ATM,s are available 24hours and so are the telephone banking and Internet services stay home and give a chance also to the employees to stay home with their families … What is this world coming too ,,,, when is this going to end .. They started with stores, now banks what’s next, all other businesses, factories, construction etc. etc.

[Reply]

A Wrote:

FYI, RBC Fairview Mall branch opened on Sunday first before TD – Oct 25, 2010 to be exact – TD found out then opened a bunch of them. As a staff, it’s nice to know at least they (RBC) care for us enough to have Sunday Funday (for the most part)

Also, it doesn’t matter what time any banks close – most people still rush in right before closing, whether its at 4pm or 8pm….

[Reply]

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