RBC Isn’t Messing Around with HSBC Conversion! Don’t blink this weekend or you’ll miss it!

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In this episode, we take a look at Royal Bank of Canada's aggressive strategies to transform HSBC Canada branches to RBC-branding, in four days! The shift consists of the integration of 800,000 HSBC clients and the closure of 25 branches.

Also in this episode:

Canada's OSFI introduces rigid home mortgage rules to fight increasing homeowner financial obligation, intending to support the monetary landscape by capping loan-to-income mortgages.

The Bank of Canada continues its quantitative tightening policy into 2025, aiming to lower its balance sheet and assistance high rate of interest in the middle of financial unpredictabilities.

✈ Boeing's CEO, Dave Calhoun, reveals resignation by year-end, following a security event with a 737 Max airplane, marking a significant leadership overhaul in the middle of ongoing obstacles.

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RBC Isn't Messing Around with HSBC Conversion! Don't blink this weekend or you'll miss it!

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  1. I very nearly got an HSBC mortgage last time I renewed. They were offering lower rates and free transfer, etc.. My bank ended up matching their deal once I provided proof. I wonder if I had gone with HSBC, whether RBC would have had to honour my rate for the duration of the period or if I would have had to renegotiate?

  2. Thank you for the new video!

    It seems like things are just getting harder for people with mortgages. HSBC disappearing, new rules limiting who can get loans… That last one may not be so bad in the long term, but it’ll probably make it harder for people out there right now looking for a house. The pressure keeps building. Hard to believe there won’t be some kind of reaction on the consumer side eventually.

    So the quantitative tightening continues. No sign that interest rates are going down soon. That’s probably for the best – again, in the long term. But it doesn’t help people who are in debt right now.

    1. Lol 😂 because RBC’s constant antics is definitely the better option with the recent money laundering charges.

  3. I’m an HSBC UK and Canada customer. Never paid fees as a premier customer but in 12 months will have to at RBC, $30 per month for equivalent VIP account. Also, interest rates are much worse than HSBC. The migration is a gong show. They mis-printed a telephone number which went to a health care scam in the US, never received emails due to them sending messages from an IP address that had been hacked previously, and issues sending PINS. RBC are also the 5th worst bank in the world for funding anti-climate change activities. Hence to say I am taking the opportunity to bank elsewhere.

    1. I was also a Premier Customer for 10 years, I took all my $$ out this week and took it to TD Bank were I get free transfers and no account fees with a minimum of $4K

    2. Someone has to pay for the deal and reducing the customer’s choice and hosing them is the best way to generate “synergies”

  4. hey bud , your sound has echo , sounds like your talking in a tin can , not trying to be negative . love the videos .

  5. What’s interesting about HSBC is that they wanted out of the Canadian market and RBC just had the winning bid. I’m with HSBC and RBC and I’ve found the transition, thus far, to be smooth well communicated. My fingers will be crossed a little this weekend but I’m not sweating it.

  6. Im a HSBC Private banking customer. Depite RBC being Canadas biggest bank, the takeover greatly reduces international banking options, the reason I banked with them in the first place. HSBC was really only everyday international banking option in Canada. The oligopoly deepens and Canadian banking customers will suffer.

    1. I don’t think so. Big banks will have more trouble in the future as people have more access to online brokers and the willingness to invest themselves. Ie Wealthsimple, questrade, eq bank. The returns are even better 4.5 % on a normal chequing account.

    2. @@peej91You made some good point about investment yield on fixed income. But in terms of international banking, all big banks in Canada are weak. Their definition international banking equals to US market.

    1. Definitely has something to do with mortgage fraud never heard anything from the investigation sounds like cover up again

  7. Will defaults happen ? Not sure espicially when they are extending ammortizations past 30 years anyway 😢

  8. I got this advice from an Australian; This only works for variable rate mortgages. Make sure you can make payments anytime. Figure out the daily interest per day. Pay the interest every day, so the interest doesn’t compound. Make the regular monthly payments. The mortgage should be paid for in about five years with minimum Interest. It’s the compounding interest that makes mortgages hard to pay off. Look for videos on this strategy.

  9. HSBC has far superior international banking services than any other banks in Canada. Their domestic services suck so it’s good and bad that they got taken over by RBC. HSBC was geared more towards wealthy clients.

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