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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