Flexible, convenient banking services when and where you choose
At RBC® we are committed to providing you with a wide range of products and services that offer flexibility, convenience, value and choice, so you receive the best features and benefits that meet your needs. Effective
May 1, 2008, we are making some changes to our account line up and service fees. We are happy to discuss these changes with you to ensure that you have the best option that is right for you.
Personal Banking service fee and account changes
The following changes take effect on May 1, 2008.
RBC No Limit Banking™ Account
The monthly fee will be decreased to $10.95.
RBC No Limit Banking for Students™
The monthly fee will be decreased to $10.95.
RBC Signature No Limit Banking™ Account
The monthly fee will be $13.95, and will now include two cross border debits each month1.
U.S. Personal Account
A new $2.00 USD monthly fee which includes six debit transactions each month, will be applied. All additional transactions will be charged a $0.75 USD transaction fee. This account will no longer pay interest1.
Automated Fund Transfers
The $5.00 set up fee and $4.00 recurring transfer fee will be eliminated.
Cross Border Debits
The cross border debit fee will be $1.00 per transaction.
NSF Fee
The fee charged each time a cheque cannot clear your account due to non-sufficient funds will be $40.00.
Safe Deposit Box service fee changes
The following changes take effect on May 1, 2008.
Safe Deposit Boxes
All safe deposit boxes are now categorized into 5 size-groupings. Fees will change based on the size of the safe deposit box. The new size categories and annual fee structure are as follows:
| Box Size |
Annual Fee as of May 1, 2008 |
| Small |
$40 (no change) |
| Medium |
$58 |
| Medium/Large |
$125 |
| Large |
$275 |
| Extra Large |
$425 |
GST/QST/HST will be added to these prices.
Secured Royal Credit Line®
The following change takes effect on May 1, 2008.
Secured Royal Credit Line
If your Royal Credit Line is secured by a mortgage, we will charge an administration fee in connection with the pay out of the Royal Credit Line and the discharge of the mortgage. The fee will vary by province.
Business Banking service fee and account changes
The following changes take effect on May 1, 2008.
RBC Business Essentials Variable Pricing Account
The minimum monthly fee will be $6.002. The new fee structure for the RBC Business Essentials Variable Pricing Account for regular (paper-based) transactions, including credits/deposits and cheques/debits and for electronic transactions is as follows:
| Tier: |
Regular (paper-based) transactions |
Electronic transactions |
| 1–10 transactions |
$0.95 |
$0.60 |
| 11-30 transactions |
$0.90 |
$0.60 (no change) |
| 31-100 transactions |
$0.85 |
$0.55 (no change) |
| 101-300 transactions |
$0.80 |
$0.50 (no change) |
| 301 plus transactions |
$0.85 |
$0.55 (no change) |
Business Current Account
The minimum monthly fee will be $9.00 for this account.
RBC Business Essentials Savings Account™
The account will allow unlimited transfers in, at no charge. Each credit to the account, other than a credit used to transfer funds from your other RBC business accounts in the same name, will be charged a fee of $1.00.
Farmchek® Value Account
The monthly fee for this account will be $15.00.
Regular (Paper-Based) Transactions3
The fee for all regular (paper-based) debit and credit transactions including transfers, foreign exchange and regular wire debits will be $0.95 each.
Electronic Transactions3
A reduced fee of $0.60 applies to all electronic debit and credit transactions.
Cash on Deposit3
The new fee structure is as follows:
| Cash on Deposit Fees per $1,000.00 |
| Method of Deposit: |
Fees as of May 1, 2008 |
| Night and Day Deposit chutes |
$2.00 |
| ATM |
$2.15 (no change) |
| In-branch |
$2.25 |
Items on Deposit
The fee applied to each item on deposit to a Canadian dollar account will be $0.20 CAD. The fee applied to each item on deposit to a US dollar account will be $0.25 USD.
NSF Cheques
The fee applied each time a cheque cannot clear your account due to non-suffi cient funds will be $40.00.
Foreign Currency Cheques
The fee applied to all cheques that are not written in the currency of the business account will be $20.00. The fee will be collected in the currency of the account from which the cheques are drawn.
Cross Border Debits
The fee applied to debits made using a business ATM card outside of Canada will be $1.00.
U.S. Par Crossed Services
If you have U.S. Par Crossed services, the monthly fee applied will be $35.00 per account.
RBC Royal Bank Visa* card service fee and annual interest rate changes
The following changes take effect on May 1, 2008 and will be made to your RBC Royal Bank Visa cardholder agreement.
NSF/Dishonoured Visa Cheque Fee
A new $40 fee will be charged to your Visa Account, if we dishonour your RBC Royal Bank Visa cheque because it is for an amount that exceeds your total available credit.
Dishonoured Payment Fee
A $40 fee will be charged to your Visa Account, if a payment is not processed because a bank returns a cheque or refuses a pre-authorized debit. This fee is in addition to any fee charged for insufficient funds in the bank account.
Additional Visa Statement Copy Fee
A $5 fee will be charged to your Visa Account, if you order an additional copy of your Visa Statement. The $1.50 fee for each statement update remains unchanged.
Annual Interest Rate Changes:
The standard annual interest rate will change to
19.5% for the following RBC Royal Bank Visa cards:
- RBC Royal Bank Visa Platinum
- RBC Royal Bank Visa Gold
- RBC Royal Bank Visa Classic
- RBC Royal Bank Visa Classic Student
- RBC Royal Bank Visa Classic II Student
- RBC Royal Bank Visa Business
- RBC Royal Bank Visa Business Gold
The standard annual interest rate will change to 11.9% for the RBC Royal Bank Visa Classic Low Rate Option card.
Please review the above changes carefully to determine which apply to your RBC Royal Bank Visa Account. If you have any questions, please don’t hesitate to call 1-800 ROYAL® 1-2 (1-800-769-2512).
Should you have any questions regarding these changes or if you would like to review your current personal or business banking requirements to make sure you have the right combination of services to meet your needs, we will be happy to discuss the options that are right for you.
- For Personal Banking please call us at 1-800 ROYAL® 1-1
- For Business Banking please call us at 1-800 ROYAL® 2-0
- Visit us at any RBC branch
1 Clients who choose alternative products or opt out of this service within
90 days of the change will be refunded the fee difference.
2 If monthly transaction fees are less than $6.00, a minimum monthly fee of
$6.00 will be charged for this account.
3 This applies to most Business Accounts. Please contact your branch for
more information.
4 Reduced fee for cash deposited via Night and Day Deposit may not be
available in all areas. Please see your branch for details.
® Registered trademarks of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada.
™ Trademarks of Royal Bank of Canada.
* Registered trademarks of Visa International Service Association. Used under license.
Note: Service fee changes are also applicable to personal accounts offered by Royal Trust Corporation of Canada, The Royal Trust Company and the Royal Bank Mortgage Corporation.
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