Banking bureaucracy

I'm exercising my prerogative as an elderly blogger. This posting is a rant about recent Canadian banking experiences.

I move (back) to Canada in 2022 after 21 years in New Zealand and 8 years in Scotland. During that time I had retained my Bank of Nova Scotia account and observed its technological progression comparing it with my New Zealand and UK banking experiences. It all seemed much the same until, as a Canadian resident, I had to engage more closely with Scotiabank.

The first indication that things were rather wonky back in Canada was learning that many financial transactions were conducted by cheque - something that, 21 years in New Zealand, had made me believe that this financial tool belonged only to the twentieth century.

The next little niggle occurred when I discovered that not all machines that ostensibly offered payment by card did not accept a debit card - only credit cards were accepted. I duly went to my bank and applied for a credit card. No luck. I was told that, while I held a long term visa to live in Canada, only citizens and "permanent residents" could hold a credit card with a Canadian bank. The teller rather ruefully told me that, while they taxed people in my category, they did not issue credit cards.

A year later the credit card prohibition was relaxed and I acquired a credit card. But not all was now plain sailing. My online banking system refused to list the transactions on my credit card. I telephoned many times, supplied multiple evidentiary screenshots, and kept being assured that this issue was being "progressed to another level". After over a year the matter was successfully solved.

Most recently I caused myself inadvertent grief in paying a credit card bill by mistyping a comma instead of a period. I accidentally transferred $3,000 instead of $3.00. Surely, I thought, this can easily be corrected by reversing the transaction. But no. Instead I received a message asking me to contact customer support.

When I made the call and supplied all the verification details required I was told there was no record of my credit card account. "Was it a Mastercard" I was asked. Then "What is the number on the card?". Then I was told that there was another number I needed to call.

Making the call and supplying the verification information again I was pleased that they had heard of me and knew my account. But my problem was not yet resolved. Naively I had expected that they would fix the problem on the spot. Not so. Here is what I had to do. Write an email to an address they specified with a case number they also specified. The email should contain the details of my overpayment and a screenshot from my online banking system verifying the payment. Then I could expect to receive within 30 days a cheque for the required amount.

I was almost speechless but managed to ask whether the matter could be resolved electronically. I was told this was the only way because Scotiabank had acquired their credit card business from the Sears Company 10 years ago.

I was left to conclude that, while Canada is led competently by a former banker, Scotiabank seems to be led by donkeys.