I opened an RESP account for my daughter Iaroslava (born 2010-10-26) at Scotiabank in late 2012. Since then, I have made 2 contributions ($2 500 CAD on 2012-11-30, $2 500 CAD on 2013-01-11).
Although the 2 federal grants ($550 CAD, $550 CAD) were deposited a couple of months later on 2013-02-01 and on 2013-03-01, the Québec grant ($250 CAD) for the 2012 contribution was deposited 6 months later on 2013-05-09. As of today (2013-11-01), almost 10 months after the contribution date of 2013-01-11, the Québec grant for the 2013 contribution has not been deposited yet.
I repeatedly reminded my Scotiabank branch of the lack of Québec grant, and they have repeatedly assured me that the branch's request was transmitted to Scotiabank headquarters promptly without delay. However, it seems that the branch's submission to the headquarters goes into a black hole with no trace.
I withheld the investment decision of the RESP account until the arrival of all the grant. Therefore, I have incurred loss of investment due to the delay.
It has been more than 90 days since the branch's last assurance. Therefore, I am appealing to you for thorough investigation about what is going on.
Please note that it is not at all the fault of the Bells Corners branch, whose financial advisor was simply following the bank's policy in a very professional manner with utmost integrity.
I promptly reported the problem of mis-information to Scotiabank, and a representative called me and settled the matter.
