Some of Canada’s largest banks have spent millions of dollars in advertising this year to boost their credibility in a tough economic environment.
The campaign includes a variety of different tactics, ranging from billboards, to online videos, to social media ads, but the most expensive advertising campaign is still a letter from an investment bank to a large Canadian company.
It includes a series of letter-writers from investment banks who are seeking investment in the country’s financial sector, including Royal Bank of Canada, Royal Bank Financial Group, TD Bank and CIBC, among others.
Some of the letter writers have been working for banks for years, but they are now the latest in a long line of Canadians seeking a better life for their families.
They include a letter that the bank’s president wrote to a young mother from Toronto, and a letter the bank president sent to a woman in her 40s in Vancouver, asking her to come back to Toronto and work at a bank.
The letter is addressed to a Canadian resident in her 20s and 50s, and has been signed by all the letter writing recipients.
The letters are not written for the bank, but for the individual bank, the letter states.
The recipient of the letters, a Canadian citizen, is not contacted or compensated for the cost of their letter.
The money is then paid out to the individual letter writer in cash, in a letter addressed to the bank that received the letter.
“The bank is not reimbursing you for any expense,” the letter reads.
“If you choose not to respond to the notice, it is the obligation of the bank to reimburse you.”
The bank has not paid out any of the cash for the letter and it is unclear if the money was given directly to the recipients.
“As the letter goes, I have no reason to believe that it is a scam,” said Bill Tambourin, president of the Canadian Bankers Association.
“What I have read is the bank is just trying to make money.”
Tamborin says it is not unusual for Canadians to send letters and make payments for the benefit of their families, as long as the letters do not go directly to a bank that does not have a direct relationship with the letter writer.
“That’s why you’re seeing the letterwriters out there in the streets, doing their thing, doing the things that you do,” he said.
The Canadian Banker’s Association has long called for the banks to stop the letters and reimburse Canadians directly for the letters they send, arguing that it could increase their costs.
The CBA has also warned that a letter can be a tool in a campaign, as it could encourage Canadians to reach out to their banks to offer support, even if they do not necessarily intend to receive any funds.
“This is just a way of the banks being more visible to their clients and their customers to their customers,” said Tambourson.
“They’re just trying not to offend the banks by putting a letter out there.”
The letter writing campaign, called “Help Us Reach Your Bank,” was launched by the Canadian Federation of Independent Business in February and is being run by the CIBC branch in Toronto, which has more than 600,000 members.
The bank is in a position to make decisions about who gets letters, according to a spokesperson.
“We have not made any decisions about which letters will go out and which letters won’t,” said the spokesperson, who did not want to be identified for privacy reasons.
The CIBC bank has the ability to pay out money directly to individuals for the time spent on the letter, according a spokesperson, though the bank has yet to do so.
Tamborson said that even if the bank does not directly pay out the money, he would be willing to accept the money if the letters did not end up in his mailbox.
“I can understand the bank wanting to do this.
It’s an advertising campaign, but it’s also an advertising that’s not in the best interests of the individual,” he added.
Tapping into fears About five years ago, Tambanson was writing letters to his bank about the banking industry.
At the time, he was doing his MBA in the U.K. and he was looking for a job.
He said he wrote to the banks in his home province of British Columbia and to other banks, but did not receive a response.
He then called the bank and asked them to send him a copy of their website and the letter that he had written to them.
“There was no response.
I emailed and called back and I didn’t get an answer,” he recalled.
“So I contacted the bank.
They said, ‘Well, it’s just a one-off, we can’t comment on the matter.’
I said, I’m just wondering if you’re going to pay me back the money that I sent them, and they said, we’re not going to say anything about it.” Todm