# PC RRSP GIC Withdrawals



## Belizean Beach Bum (Apr 19, 2009)

President's Choice has found one more way to screw us around.

We are retired and trying to cash in some of our RRSPs before our CPPs start. In this case we are talking about 2 GICs which are renewed every year at the end of February and which we wanted to be cashed out when they matured this time around.

We downloaded RRSP Withdrawal Request Forms from the PC website back in July and completed (yes, cash them at maturity), signed (yes, we know you have to withhold income tax), and mailed them to the address indicated. 

Yesterday, we happened to be talking to their "no help desk" about another problem and thought to ask whether they had received our requests since we had no confirmation by mail. 

It turns out they had received our requests but apparently our requests were made too early as they will only accept requests within 90 days prior to the GIC maturity date. The PC files show that our GICs are scheduled for renewal once again.

We are pushing this problem up the PC corporate ladder. Hopefully it will be our last problem with PC as we are moving all of our accounts elsewhere.

Retirees beware!


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## sprocket1200 (Aug 21, 2009)

i think this is a pretty common practice. always read the fine print...


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## plen (Nov 18, 2010)

How nice of PCF to now tell you the issue with your request. Where was their help when you sent in the documents to call or write you back explaining their policies.

If there's one thing I've learned to do when filling out and mailing paperwork is to follow up with a phone call after a couple weeks if I don't see or hear any results to my requests.


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## OhGreatGuru (May 24, 2009)

There is no rational reason why they should not have acknowledged your request, even if they didn't want to process it until 90 days before maturity. (And frankly in this electronic age there should be no reason why they can't process such a change any time.) However they don't mature until end of Fedbruary, so at least you have time to fix the problem.


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## Jungle (Feb 17, 2010)

I think they should have communicated back to them, at least with a letter. Also, I think you left this too late and should have followed up, as to why you've received no confirmation back for your request.


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## Brian Weatherdon CFP (Jan 18, 2011)

*getting service when redeeming GICs*

I sympathize entirely! The frustration you describe used to be mine when managing such matters for clients. Our staff manages all that follow-up easily. Have a friend introduce you to a certified planner (with good staff) who can make life easier for you.


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## HaroldCrump (Jun 10, 2009)

Brian Weatherdon CFP said:


> I sympathize entirely! The frustration you describe used to be mine when managing such matters for clients. Our staff manages all that follow-up easily. Have a friend introduce you to a certified planner (with good staff) who can make life easier for you.


eh, is it only me that senses a thinly veiled solicitation here?
This "clients" and "staff" and "manage" pitch, coupled with the explicit user name, smells soliciting to me.


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## Four Pillars (Apr 5, 2009)

HaroldCrump said:


> eh, is it only me that senses a thinly veiled solicitation here?
> This "clients" and "staff" and "manage" pitch, coupled with the explicit user name, smells soliciting to me.


+1


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## marina628 (Dec 14, 2010)

Lesson learned no need for a planner just learn to follow up on stuff in future


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## Belizean Beach Bum (Apr 19, 2009)

We pushed this up the PC ladder and a "customer care" rep called us down here last week. 

She e-mailed us yesterday to say that PC has pulled our original requests out of their archives and promise they will be processed at the end of the month.

Follow up on requests? Sure, sounds good but not easy to do when you're out of the country and your dealing with a company that won't accept e-mails/faxes and their help desk won't accept collect calls and is of no help.

Read the fine print? Always. We didn't get to retire early by paying bank/credit charges. BTW, the rep's e-mail said it was -23 up there which is real fine print by us.


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## sprocket1200 (Aug 21, 2009)

Belizean Beach Bum said:


> We pushed this up the PC ladder and a "customer care" rep called us down here last week.
> 
> She e-mailed us yesterday to say that PC has pulled our original requests out of their archives and promise they will be processed at the end of the month.
> 
> ...


try google voice or skype. lots of cheap ways to manage the money.


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## Belizean Beach Bum (Apr 19, 2009)

sprocket1200 said:


> try google voice or skype. lots of cheap ways to manage the money.


Try googling Belize Telemedia blocks VoIP.


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## Eclectic12 (Oct 20, 2010)

Jungle said:


> I think they should have communicated back to them, at least with a letter. Also, I think you left this too late and should have followed up, as to why you've received no confirmation back for your request.


Agreed ... but then again, followup can mean nothing as well. I asked in advance and checked daily yet somehow my transfer *within* the same banking group took 8 days.

The morning the money was scheduled to be withdrawn for my house purchase, I was prepared to camp in the manager's office until they guaranteed the withdrawal - but the money finally showed up.


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## sprocket1200 (Aug 21, 2009)

try a program that reroutes IP addresses. you give up too easily. or just have them call you back.


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## Belizean Beach Bum (Apr 19, 2009)

sprocket1200 said:


> try a program that reroutes IP addresses.


We've tried about a dozen - all get blocked eventually.



> or just have them call you back.


They (PCF, Vonage, Access America, etc.) will call back but only after being threatened with ombudsmen/better business bureau/etc.



> you give up too easily.


You are clueless in Canada.


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## andrewf (Mar 1, 2010)

Are you not allowed encrypted connections?


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## sprocket1200 (Aug 21, 2009)

andrewf said:


> Are you not allowed encrypted connections?


he has given up. it is too much work, woe is me...
it's a wonder there are no friends in canada that will help him...


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