I am in the midst of severing my account with CIBC Investor's Edge - the "online brokerage house" because of:
chronic incompetence
denial of that incompetence
overcharging the published rates for trades
inability to trade due to frequent crashes of the system
refusal to let me talk to supervisors, every time I ask they are "in a meeting"
argumentative supervisors when I finally get one
slow posting of trades and account info (at least 24hrs)
slow updating of my portfolio (sometimes days after a trade is executed)
no news available when I hit the get news button
antiquated character based interface
frequent "system stalled" messages
excuses from the traders that they did not anticipate the amount of traffic so "you know we can't help it it's not our fault if too many people are logged on attitude"
One supervisor in Vancouver let's call him "Merv" said "Do you think we intend to provide a poor service?" He also told me that he used to work at TD's WebBroker and that "It's no better over there"
Unfortunately these customer service "experts" seem to be too stupid to understand the link between intent and action.
The fatcat Canadian Bank Execs seem to set out policy from their distant profit swollen offices, and their employees hide from their customers behind these policies. Well I for one am going to my local credit union to see if they can provide a less frustrating customer experience. At least none of them are bragging about multi billion dollar profits out of one side of their mouths, and spitting in our eyes out of the other.
I have never, ever experienced such a frustrating and incompetent entity. I wouldn't put up with it if it was free, so why would anyone pay them to do this.
Makes me ashamed to be Canadian as it reflects the overall problem we have in this country wrt service - "The customer is not always right, and if they complain they are the ones with the problem not us"
I have banked at the CIBC since 1977, and am going to completely sever all ties with them next week. Since they have announced that they will lay off over 4000 workers in the near future, and they don't have functional computer systems, I think shorting their stocks will be in vogue once those people are gone. Another thing after working in that vaccuum, they will be unemployable elsewhere.
Of course this is just my humble opinion....
WOW DO I EVER FEEL BETTER NOW, ALMOST AS GOOD AS SEX!!!
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