Finally lost my temper with the Scotiabank advisor, got in touch with the branch manager today by email. The manager actually said the penalties were added because I did not come into a branch in person to tell them I was transferring to another institution.
They're ignoring the fact that the following section is included on the Request for Payout that was signed by myself and they confirm was received by Scotiabank a full week before my renewal date.
"If this mortgage is due for renewal on or around the effective date of this statement, consider this your instruction to not renew this mortgage, pending payout of it. Should the mortgage have to be renewed, consider this your instruction to renew the mortgage only for a 6 month open term. These instructions are to have priority over any other renewal letter, document or other instrument you may have sent to me/us."
What bull#### can they come back at me with? They went ahead and did the exact opposite of what was requested in writing and they confirm it was received.
They also refuse to give me the name of the person who decided to proceed and ignore the instructions. They actually told me, there is no one to talk to at the central mortgage unit, no name or number to give me. I asked 3 separate times.
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