RBC Gift card is a rip off!

[gogoblender 3,070]

I bought a number of these last year, for my cousin,his wife, and a few friends. The cards were beautiful, the system seemingly perfect. Of course, this is the time of the Big Banks, and if their massive profits are an indicator of success, I should have expected something tricky, but something so nefarious and underhanded as a ticking trickle of funds from your card that leave you with nothing after x amount of time?

 

Should have expected something like this after being charged almost 3 bux each for the cards, but they were

so attractive.

 

 

 

My friend's frustration at attempting to use a card a year and a bit later with much of the balance "eaten" away was the final straw.

 

This video, a great expose done by the Canadian CBC will hopefully out this scam to more.

 

STAY AWAY DON'T BUY

 

 

http://www.cbc.ca/marketplace/2011/visagiftcard/

 

 

gogo

[Knuckles 904]

Wow...that is total b.s. Maintenance fees for not using the card? I typically get store gift cards. Never tried using a bank one. Though I do have 2 Visa debit cards sitting in my wallet from rebates. Sounds like I better use them quickly. And if I get charged for activating them some poor customer service rep is going to have a really bad day.

[gogoblender 3,070]

1.50 per month !

 

I'm sticking to Mcdonalds' gift cards this year for gifts, at least the site has a catchy jingle, and the cards are sharp lookin!

 

http://www.mcdonalds.ca/ca/en/promotions/mcd_card_promo.html

 

 

gogo

[Dragon Brother 619]

They charge you for not using them:) Thats a bit stiff...I don't think we have anything like that here, although I just got a pre-paid mastercard with come cash on it for my birthday so maybe I better spend it fast just in case

[Llama8 8]

They charge you for not using them:) Thats a bit stiff...

Incredibly so. Gogo, do they state the charges when you get it, in advertising, etc?

[gogoblender 3,070]

They charge you for not using them:) Thats a bit stiff...I don't think we have anything like that here, although I just got a pre-paid mastercard with come cash on it for my birthday so maybe I better spend it fast just in case

 

That's the part that got to me too...that your money just drips away if you don't use it.

 

I'm not sure if your card will stay indefinitely or not, but will be interesting to see how cards in Down Under run. (And Happy Birthday friend Ashley! )

 

 

They charge you for not using them:) Thats a bit stiff...

Incredibly so. Gogo, do they state the charges when you get it, in advertising, etc?

 

When I bought the cards, nothing at all was told to me about them at the bank. They just charged me close to three dollars each, this is besides the amount I put on each card. None of the tellers told me that there would be a dripping involved, but when I went to the website, I saw the shrinking money effect.

 

 

There is a powerful new law here in Quebec, that has gotten enacted, Bill sixty. All gift cards must now make sure that any money left on cards can be returned to customers and that nothing zeros out because the card wasn't used in a proscribed period of time.

 

Banks could, of course, be the exception?

 

 

gogo

[podgie_bear 184]

Thanks for pointing this out Gogo, I was just about to buy a load of these to send to my inlaws in America as Christmas presents!

[stubbie 21]

Good heads up gogo.

It seems that banks, no matter in what country they are, just rip off their customers.

And also of note is how useless your consumer watchdog is...about the same waste of space as ours is.

 

I personally like to give store gift cards. It makes shopping easy and lets the person get something they really like, as opposed to the "oh thanks...I really, really like that Boy George candle stick holder".

 

I also love to receive store gift cards as presents. They tend to make me go out and get something that I really want because I don't normally spend money on myself otherwise.

If I was given money or one of them bank cards I would probably just use it to pay bills.

 

Typically though my wife will never accept a card...she insists that I go out and suffer the shops and all the customers at Xmas time to spend hours trying to find her something that I have to hope and pray she will like.

[masteff 64]

Non-use fees are slowly getting outlawed, but I do think that banks fall under different regulations. So prepaid Visa/Mastercard are different from store cards.

 

I don't mind getting cards but I've lost a few to non-use so I'm pretty strict about getting them used shortly after receiving them. (Don't get me started on Groupons and expiration dates; I've put a moratorium on me or the girlfriend buying any unless we discuss them first.)

 

Frankly, cash is a much better gift unless you know the person will use the store you get the card from. (My girlfriend's parents give me Lowes or Home Depot every year for Christmas and one minor home repair and I have that sucker spent w/out even thinking about it).

 

One option to consider: Amazon gift cards. You can email them or get real ones to send. They can be used for anything on the site and never expire. (Although I don't know how they'd work cross-currency for Podgie to send to family in America). And if you can't find something to buy on Amazon, you're not trying!

Edited December 6, 2011 by masteff

[chattius 2,526]

Don't know, I don't like doing money or cards as presents. Even socks or neckties are better, there is at least some time and thoughts spend if they look good on me, at least I hope so

Normally I look all year for possible presents, be it a book, vinyl disc from an antiquar for siblings, aunts and parents. Blueprints for stickery are rarely in books nowadays, so when I am on sales travels: whenever I see an antiquar selling old used books I ask for books about stickery, 2 aunts and mother are happy at birthday and x-mas...

 

Our 8 year third is a musical genius and wished for an electro-zither for x-mas she was seeing at TV. Sadly it is a prototytpe, as expensive as a car... But it is possible to visit the manufacturer who is also building normal zithers, so that will be the x-mas present. Add a small do it yourself kit to make your own small eletric guitar. Only 6 strings and not the 48 of a zither, but at least she will learn the basics.

 

Second is wishing for roller skating equipment,..

 

Oldest for a cooking set when she will leave house and start university, ...

[gogoblender 3,070]

Thanks for pointing this out Gogo, I was just about to buy a load of these to send to my inlaws in America as Christmas presents!

 

 

This is a tale of caution! I hope everyone looks well at the small print of these smartly wrapped up gems, they look all shiny and nice, but they cost money!

 

Good heads up gogo.

It seems that banks, no matter in what country they are, just rip off their customers.

And also of note is how useless your consumer watchdog is...about the same waste of space as ours is.

 

I personally like to give store gift cards. It makes shopping easy and lets the person get something they really like, as opposed to the "oh thanks...I really, really like that Boy George candle stick holder".

 

I also love to receive store gift cards as presents. They tend to make me go out and get something that I really want because I don't normally spend money on myself otherwise.

If I was given money or one of them bank cards I would probably just use it to pay bills.

 

Typically though my wife will never accept a card...she insists that I go out and suffer the shops and all the customers at Xmas time to spend hours trying to find her something that I have to hope and pray she will like.

 

 

lol, I hear ya bout the tug of war tween old school gifts and cards! I honestly believe that a well-thought out gift is best, but coming up with something that is considered cool or "okay" seems to get harder and harder every year, specially as the current gift giving meme seems to be that cards are "correct" ?

 

 

 

 

Non-use fees are slowly getting outlawed, but I do think that banks fall under different regulations. So prepaid Visa/Mastercard are different from store cards.

 

I don't mind getting cards but I've lost a few to non-use so I'm pretty strict about getting them used shortly after receiving them. (Don't get me started on Groupons and expiration dates; I've put a moratorium on me or the girlfriend buying any unless we discuss them first.)

 

Frankly, cash is a much better gift unless you know the person will use the store you get the card from. (My girlfriend's parents give me Lowes or Home Depot every year for Christmas and one minor home repair and I have that sucker spent w/out even thinking about it).

 

One option to consider: Amazon gift cards. You can email them or get real ones to send. They can be used for anything on the site and never expire. (Although I don't know how they'd work cross-currency for Podgie to send to family in America). And if you can't find something to buy on Amazon, you're not trying!

 

Nice notes there Masteff. I have enjoyed doing some research into gift ideas lately, that's why the cards came up last year, they were novel and sharp, but the cost was a bit too much in retrospect.

 

The Amazon gift cards sound amazing, I never even thought of that. You've given me my research project for when I get home from work this afternoon. Thank you!

 

Don't know, I don't like doing money or cards as presents. Even socks or neckties are better, there is at least some time and thoughts spend if they look good on me, at least I hope so

Normally I look all year for possible presents, be it a book, vinyl disc from an antiquar for siblings, aunts and parents. Blueprints for stickery are rarely in books nowadays, so when I am on sales travels: whenever I see an antiquar selling old used books I ask for books about stickery, 2 aunts and mother are happy at birthday and x-mas...

 

Our 8 year third is a musical genius and wished for an electro-zither for x-mas she was seeing at TV. Sadly it is a prototytpe, as expensive as a car... But it is possible to visit the manufacturer who is also building normal zithers, so that will be the x-mas present. Add a small do it yourself kit to make your own small eletric guitar. Only 6 strings and not the 48 of a zither, but at least she will learn the basics.

 

Second is wishing for roller skating equipment,..

 

Oldest for a cooking set when she will leave house and start university, ...

 

 

Gifts are still my favorite thing go give. Time spent, insight, clever deductions, surprise! Gift cards are starting to be marketed as perhaps the "correct" thing to do, but if yer able to come up with a real, crafted thoughtful gift, that's still first place in my book.

 

If I could knit, I'd be there with the socks!

 

 

gogo