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Questions About the Day

The National Day for Truth and Reconciliation will be observed on September 30 of each calendar year beginning September 30, 2021.
In 2015, the Truth and Reconciliation Commission of Canada issued 94 calls to action in response to the injustices inflicted on First Nations, Inuit and Métis peoples, including the forced removal of children from their families to attend residential schools and the abuse the children experienced there. The establishment of the National Day for Truth and Reconciliation as a day of reflection was in response to the 80th call to action, which urged the federal government to work with Indigenous people to establish such a day. The purpose of this day is to honour survivors, their families and their communities, and ensure that public commemoration of the history and legacy of residential schools remains a vital component of the reconciliation process.
Orange Shirt Day (September 30) was created as an opportunity to discuss the effects of residential schools and their legacy. It honours the experiences of Indigenous Peoples, celebrates resilience and affirms a commitment that every child matters.

General Banking Questions

No, similar to all other federal statutory holidays, RBC® branches are closed on National Day for Truth and Reconciliation. ATMs will remain open.
Telephone Banking will be open with reduced staff to serve clients (exception: the Asian queue will be closed and clients will be given the option to be served in English). Self-serve Telephone Banking options will continue to be accessible for all clients.
No. Like any other federal statutory holiday, domestic payment systems in Canada will not be operational and RBC will be unable to process payment instructions with a value date of September 30. For personal clients, in most cases payments with a due date of September 30 will automatically be forward valued to October 1. If you would like to be proactive in planning, please go to your online banking and update any pre-planned payments you have scheduled for September 30 to ensure they are processed in time to meet the due date(s).
You should cancel any scheduled payments and resubmit them with a different value date. Future-dated or recurring wire payments that were previously submitted with a value date of September 30 will be rejected by the system on the morning of September 30. Please ensure you are reviewing any future-dated or recurring wire payments and taking the required action.
Any cross-border payment initiated in Canada on September 30 will be sent to the foreign institution on October 1 (in the case of 2021). Any cross-border payments sent to Canada on September 30 will be deposited into your account on the next business day (October 1 in the case of 2021)
Funds can be sent/received via Interac e-Transfer 24 hours a day, seven days a week, including on federal statutory holidays.
Yes, but the transaction will be posted under the next business date, October 1.
Yes, but the transactions will be processed on the next business date.
The Federal Government has informed us that the payment due date for OAS has been adjusted now that September 30 is a statutory holiday. Direct deposit and cheque issuance will occur a day earlier – Monday, September 27 for OAS only. CPP payments could not be adjusted and will be dated the 28th as it is scheduled now. Cheques may be issued earlier, and the Receiver General will honour any of the CPP cheques that are cashed on September 27. Contact the government directly for more information.

Credit

No, as with any other statutory holidays, September 30 is not an option for a closing date. An alternate date must be selected.
We are working closely with our clients and will contact them if there is a September 30 scheduled closing date.

For purchase transactions, you should contact your real estate agent and renegotiate the closing date with the seller, and you will need to provide RBC with the amendment of the Purchase and Sale Agreement that reflects the new closing date.

For refinance transactions, please contact your branch to select an alternate business day that works best for you.
In cases where changing the closing date pushes the rate hold beyond the 120- day window, RBC will honour the initial client rate until October 8.
Similar to all other statutory holidays, payments scheduled for September 30 will be debited from your account as of the next business day, which will be October 1, 2021.

Mortgage payments will be applied effective the statutory holiday, September 30, and loan payments will be applied effective the next business day, October 1, 2021. This additional statutory holiday will not affect your credit bureau, will not have a material impact on the total cost of borrowing over the term of the personal loan, and will have no impact on your mortgages.
Mortgages with a maturity date of September 30, similar to other statutory holidays, will be deferred to October 1 and backdated with no impact on you. For mortgages eligible for early renewal, September 30 will be treated as a statutory holiday. As a result, September 30 cannot be selected as an effective date for renewal of your mortgage.

Personal Savings and Investments

All Canadian dollar GICs will auto-renew or auto-switch on the planned date of September 30. US term deposits will auto-renew on the next business day.
There will be no disruption. Your GIC will display a maturity pay date of September 30 and a credit to your Personal Deposit Account will be processed September 29.
There will be no disruption. All GICs will continue payments according to the standard schedule.
Funds will continue to be valued and traded on September 30, including GIC and mutual fund transactions (i.e. using a savings deposit to purchase mutual fund units or a GIC). Due to payment systems being closed, all redemption proceeds will appear in your RBC Personal Deposit Account on October 2.
There will be no delay. RIF payments that are automated (15th and 30th of every month) will proceed as usual so you will receive funds in your account on September 30.
Due to payment systems being closed on September 30, there will be a one- day delay to credit Personal Deposit Accounts. Should your payment option be set to cheque, they will continue to be mailed out on schedule.
All September 30 pre-authorized contributions will be processed as planned. All October 1 pre-authorized contributions will be processed on a one-day delay due to Personal Deposit Accounts being unavailable to initiate debits on September 30.
Telephone Banking remains open and staff are ready to help you with your questions. Please contact us at 1-800-463-3863.
Canadian payment exchange will not be available as it is a non-settlement day. All money movement will resume the next business day.

Business and Commercial Banking

General

We encourage you to proactively make any necessary preparations in the lead-up to this day of reflection. You should review your internal systems and any warehoused payments that have already been submitted via payment file and any future-dated or recurring payments that have been scheduled in RBC Express® or Online Banking for Business. You should make necessary adjustments to payment due dates to ensure payments will be received by recipients on time. This may be particularly important if September 30 is your business’s month, quarter or fiscal year end.

Payments

While some payment types may be pre-posted to client accounts on September 30 (e.g. debits/credits will be reflected in the client’s account balance on September 30), transactions submitted prior to the applicable cut- off time will settle on the following dates:
Due date submitted Settlement/value date
Wednesday, September 29 Wednesday, September 29
Thursday, September 30 Friday, October 1
Friday, October 1 Friday, October 1
Note: In most cases payments with a due date of September 30 will automatically have a value date of October 1, with some exceptions noted below.
For some payment services, the system will prevent you from selecting a value date of September 30; you will be prompted to enter a different date. For payment services that allow a value date of September 30 to be selected, payments will be processed on the next business day.
No, domestic payment systems in Canada will not be operational on September 30, and RBC will be unable to process payment instructions.
The file will be held and will not be processed until the next business day. For payments in the file that have a value date/due date of September 30, the value date will automatically be changed to October 1.
If no action is taken, future-dated or recurring wire payments or account transfers that were previously submitted with a value date of September 30 will be rejected by the system on the morning of September 30. Please ensure you review any future-dated or recurring wire payments or account transfers and take the required action. You should cancel these scheduled payments and resubmit them with a different value date.
If no action is taken, valid ACH/EFT/PEV payments that have been submitted with a due date of September 30 and submitted by the 7:30 p.m. ET deadline on September 29 will be sent to the other Canadian financial institution on September 29. In some cases, financial institutions may pre-post to the recipient’s account on September 30 (and the funds will be visible in their account); however, the value date of the payments will be October 1. Alternatively, you have the option to cancel these payments and resubmit them with a different value date.
If you submit your payroll file via the Automated Clearing House (ACH) Payment Direct Service (PDS) on September 30, the file will be processed on the following business day and employees will receive the payment on Friday, October 1. Your account will be debited on October 1.

If the payroll file is submitted via the ACH PDS prior to the day of reflection and before the 7:30 p.m. ET ACH cut-off, payments with a value date of September 30 will be selected and sent to the other Canadian financial institutions on the day before. It is possible that the other financial institutions will pre-post the transactions on September 30 (i.e. funds will be visible in your account) but with a value date of October 1. Client accounts with a transactional risk limit will be debited on October 1. Prefund client accounts will be debited on the day the file is submitted.

If you use Online Banking for Business and submit payroll payments using the Pay Employees & Vendors (PEV) service on September 30, transactions will be pre-posted on September 30, and your employees will receive the payment on October 1. Your account will be debited on October 1.

If you submit payments using the PEV service prior to September 30 with a due date of September 30, your account will be debited on the day they submit the payments to RBC. If payments are received prior to the 7:30 p.m. ET ACH cut-off on September 29, the payments may be pre-posted (i.e. visible in the recipients’ accounts) on September 30, but will have a value date of October 1.
Payment files can be sent via Interac e-Transfer Bulk Payables 24 hours a day, seven days a week. Transactions that are sent on September 30 will be pre- posted (i.e. the debit/credit will be reflected in the account balance); however, they will have a value date of October 1.
Yes, but please be advised of the following:
  • Payables Direct ISO 20022 Non-SWIFT Wires and EDI Wires with a value date of September 30 will be rejected by our systems. Please ensure a valid Canadian business day is used as the value date.
  • Payables Direct ISO 20022 SWIFT Wires will be held and processed the next business day.
  • Cheque print files can still be submitted for printing and inserting on September 30, but mail will be held until the next day for pick-up by Canada Post.
Yes, but the transaction will be posted under the next business day, October 1.
Yes, but the transaction will be displayed under the next business day, October 1.
Yes, but the transactions will be processed on the next business day.
The service will be updated to accommodate the new national statutory holiday and will NOT process any payments on September 30. You will not be able to schedule any new future-dated payments for September 30. Any existing future-dated payments already scheduled for September 30 will be moved to October 1. The September 30 holiday will follow the same rule as all other federal holidays: If the due date of the payment falls on a federal holiday, the payment will be considered on time if it is received the next business day.
Lockbox operations will be closed on September 30 similar to other statutory holidays. Normal operations will resume on Friday, October 1. As a result:
  • No Canada Post mail pick-up will occur on September 30 but will resume on October 1.
  • Courier activity (drop-offs or pick-ups) will not be available September 30 but will resume on October 1.
  • Post-dated items previously scheduled for September 30 and exception-item decisions input from clients on September 30 will be processed on October 1.
  • Lockbox files will not be generated and issued on September 30 but will resume on October 1 and will include any post-dated items previously scheduled for September 30 or exception-item decisions entered on September 30, as applicable.
No, balance and transmission reporting files will not be sent on September 30. Information for September 29 will be sent the morning of October 1.

Credit

The credit availability for margined credit facilities will be adjusted on October 1, 2021 based on the reports submitted.
Rollovers will be programmed to mature on September 30. Any tenors booked earlier and maturing on September 30 will be manually rolled over or paid out on September 29, 2021.
New loan advances for all products will not take place on September 30. Any scheduled closings will need to be moved to the previous business day.
There will be no impact on rollovers and term renewals, which will be processed on the next business day. Payments due on September 30 will be processed on October 1.
All payouts and the augmenting of revolving credit facilities will not be processed on September 30 and can be processed either on September 29 or October 1, 2021.
Statements will be produced on the next business day. As a result the delivery of the September statement will be increased by one day.
If your clients have further questions about the new federal statutory holiday and how it will impact the processing of their payments, please tell them to contact one of the following help desks:
Responsive Table
Help Desk Contact # Regular Hours Holiday Hours – September 30
Customer Service 800-769-2520 24 hours a day, 7 days a week 24 hours a day, 7 days a week
RBC Express/Cash Management Help Desk 800-769-2535 Monday – Thursday:
7:30 AM – 2:30 AM ET
Friday: 7:30 AM – 9:00 PM ET
Sunday: 6:30 PM – 2:30 AM ET
French support available Monday to Friday from 7:30 AM to 7:00 PM ET.
7:30 AM – 2:30 AM ET
Commercial Service Advisors Various Monday – Friday:
8:30 AM - 5:00 PM
Monday – Friday:
8:30 AM - 5:00 PM
Global Banking Service Centre Closed
Group Advantage Closed