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News Releases

 

RBC introduces a new independent dispute resolution process for Canadian banking clients

TORONTO, October 31, 2008 — Royal Bank of Canada (RBC) today announced the introduction of a new independent dispute resolution process, effective November 1, 2008. RBC expects the new appeal process will result in quicker response to RBC banking clients' concerns that remain unresolved after review by the RBC Ombudsman.

RBC has retained the services of ADR Chambers, an industry-leading alternate dispute resolution firm. ADR Chambers will provide an independent appeal process for RBC's banking clients who do not agree with the observations and recommendations made by the RBC Ombudsman. ADR Chambers already provides arbitration services to our investment clients.

RBC has one of the best records in the Canadian banking industry for dealing with unresolved client disputes. In recent years, less than 15 RBC client disputes annually have resulted in case investigations by the former provider of external dispute resolution services. In 2007, this represented only eight per cent of case volumes submitted to the former provider. Our objective is to continue to build on this record with a focus on providing more timely responses to our clients.

Key benefits of this new relationship to RBC's banking clients include:

  • Access to a different independent client resolution service, drawing on a pool of dispute resolution specialists
  • The opportunity to speak with a banking ombudsperson during business hours
  • ADR Chambers' commitment to address disputes on a timely and comprehensive basis

The services of the RBC Ombudsman and ADR Chambers are free to all RBC clients. RBC Banking clients with a concern or a complaint are encouraged to call or visit their RBC branch to begin the resolution process. More information, including a step-by-step guide to complaint resolution, is available at www.rbc.com/customercare/complaint.html.

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For more information, please contact:
Jackie Braden, 416-974-2124


 



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10/31/2008 16:36:53