A CBC report which confirms Canadian banks are all driving their staff to push credit and so called ‘investment’ products on to customers against the customers’ best interests, and all under the guise of “financial advice”.
“Employees from all five of Canada’s big banks have flooded Go Public with stories of how they feel pressured to upsell, trick and even lie to customers to meet unrealistic sales targets and keep their jobs.
The deluge is fuelling multiple calls for a parliamentary inquiry, even as the banks claim they’re acting in customers’ best interests.
In nearly 1,000 emails, employees from RBC, BMO, CIBC, TD and Scotiabank locations across Canada describe the pressures to hit targets that are monitored weekly, daily and in some cases hourly.
“Management is down your throat all the time,” said a Scotiabank financial adviser. “They want you to hit your numbers and it doesn’t matter how.”
This is unacceptable and not good business. The best advice for you is to close your bank accounts and switch to a credit union.