TORONTO, Oct. 31 /CNW/ - 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
- ADR Chambers' commitment to address disputes on a timely and
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.
For further information:
For further information: Jackie Braden, (416) 974-2124