Online Banking and Telephone Banking "Memorized" Option
With a "Memorized" option in Online Banking and Telephone Banking, you can give instructions for payments or transfers to be made at a predetermined frequency on specified dates. This can even be a one-time payment or transfer on a certain date. You can pay heating and hydro bills, magazine subscriptions, or other regular expenses. Imagine the freedom of having this taken care of month after month. You never have to worry about forgetting, or your cheque getting lost in the mail. For a demonstration of this "Memorized" option in Online Banking, check out our personal banking demo.
Pre-Authorized Payments
For all those day-to-day "back home" expenses that don't go away even though you are away, arrange Pre-Authorized Payments (PAPs). You can pre-authorize payment from your Canadian account for expenses incurred in Canada. They will be paid automatically, and on time. No more "late payment" fees or fussing with cheques! (Remember, though, to make sure there are sufficient funds in your account.)
Direct Deposits
When you arrange a pre-authorized credit (PAC) or Direct Deposit with the issuer of a payment, you know that it will always be deposited on time. You can now arrange to have payments such as your federal government benefit deposited directly to the account of your choice. In the case of payments coming from the United States, you can even pre-arrange to have them deposited to your RBC Royal Bank U.S. Personal AccountTM.
How do I set up a Pre-Authorized Payment or Direct Deposit?
Contact your RBC Royal Bank specialist and ask for a supply of your personally encoded PAP or direct deposit enrollment forms. Remember, we can now arrange for PACs on accounts in both U.S. or Canadian funds. It's easy. Once you receive your personalized enrollment form, just add the name of the company and its account number and send the form to the company.
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