National Day for Truth and Reconciliation FAQs

Questions About the Day

Why is National Day for Truth and Reconciliation a day of reflection?

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.

Why are people wearing orange shirts?

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

Will branches be open and able to process payments or deposits on September 30?

No, similar to all other federal statutory holidays, RBC^® branches are closed on National Day for Truth and Reconciliation. ATMs will remain open.

Will Telephone Banking be open and serving clients?

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.

Can I make a payment valued on September 30?

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 the next business day. 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).

What will happen with cross-border payments going to and coming from the US or other countries?

Any cross-border payment initiated in Canada on September 30 will be sent to the foreign institution on the next business day. Any cross-border payments sent to Canada on September 30 will be deposited into your account on the next business day.

Will I be able to send/receive money via Interac e-Transfer^‡ on September 30?

Funds can be sent/received via Interac e-Transfer 24 hours a day, seven days a week, including on federal statutory holidays.

Will I be able to transfer funds between my RBC accounts on September 30?

Yes, but the transaction will be posted under the next business date.

Will I be able to make bill payments on September 30?

Yes, but the transactions will be processed on the next business date.

When can clients expect their Old Age Security (OAC) and Canadian Pension Plan (CPP) cheques to be deposited?

The Federal Government has informed us that the payment due date for OAS / CPP will be on September 27, 2023. Contact the government directly for more information.

Credit

When completing a new mortgage or bridge loan application, can I select September 30 as the closing date?

No, as with any other statutory holidays, September 30 is not an option for a closing date. An alternate date must be selected.

What happens to a mortgage or loan payment scheduled on September 30? Will this result in additional costs to me?

Similar to all other statutory holidays, payments scheduled for September 30 will be debited from your account as of the next business day.

Mortgage payments will be applied effective the statutory holiday, September 30, and loan payments will be applied effective the next business day. 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.

Personal Savings and Investments

What will happen if my GIC is set to auto-switch or auto-renew on September 30?

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.

What will happen to my payout principal or interest payments if my GIC is maturing on September 30?

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.

Will trade settlement and money movement in registered accounts be delayed?

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 the next business day.

Will my systemic withdrawal payments still occur?

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.

Will my pre-authorized contributions still be processed?

All September 30 pre-authorized contributions will be processed as planned.

Who can I contact if I still have questions about my investment accounts?

Telephone Banking remains open and staff are ready to help you with your questions. Please contact us at 1-800-463-3863.

Will I be able to transfer money between institutions on September 30?

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

What should I do to prepare for this "day of reflection"?

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

How will payments sent/ received by RBC Royal Bank^® be impacted?

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
Friday, September 29	Friday, September 29
Saturday, September 30	Tuesday, October 3
Tuesday, October 3	Tuesday, October 3

Note: In most cases payments with a due date of September 30 will automatically have a value date of October 3, with some exceptions noted below.

What will be the impact if I submit payments online via RBC Express or Online Banking for Business with a value date of September 30?

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.

Will Automated Clearing House (ACH), Automated Funds Transfer (AFT) or wire payments be processed on September 30?

No, domestic payment systems in Canada will not be operational on September 30, and RBC will be unable to process payment instructions.

What will be the impact if I submit an ACH payment file to RBC Royal Bank on September 30?

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.

What will be the impact on RBC Express future-dated or recurring wire payments or account transfers that have already been scheduled for September 30?

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.

What will be the impact on future- dated Automated Clearing House (ACH), Automated Funds Transfer (AFT) and Pay Employees & Vendors (PEV) payments that have already been submitted with a due date of September 30?

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 the next business day. Alternatively, you have the option to cancel these payments and resubmit them with a different value date.

My payroll is scheduled for September 30. What will be the impact?

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 next business day and employees will receive the payment on the next business day and your account will be debited on the next business day.

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 the next business day. Client accounts with a transactional risk limit will be debited on the next business day. 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 the next business day. Your account will be debited on the next business day

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 the next business day.

Will I be able to send Interac e-Transfer^‡ Bulk Payables files on September 30?

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 the next business day.

Can I still send Payables Direct files to the bank?

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.

Will I be able to transfer funds between my RBC Royal Bank accounts on September 30?

Yes, but the transaction will be posted under the next business day.

Will clients be able to transfer funds via the 3PP service to another client’s account at RBC Royal Bank on September 30?

Yes, but the transaction will be displayed under the next business day.

Will clients be able to make payments with their credit cards on September 30?

Yes, but the transactions will be processed on the next business day.

Will lockbox items be processed on September 30?

Lockbox operations will be closed on September 30 similar to other statutory holidays. Normal operations will resume on the next business day. As a result:

No Canada Post mail pick-up will occur on September 30 but will resume on October 3.
Courier activity (drop-offs or pick-ups) will not be available September 30 but will resume on October 3.
Post-dated items previously scheduled for September 30 and exception-item decisions input from clients on September 30 will be processed on October 3.
Lockbox files will not be generated and issued on September 30 but will resume on October 3 and will include any post-dated items previously scheduled for September 30 or exception-item decisions entered on September 30, as applicable.

Will BAI/MT940/EDI 821 or CAMT (.053, .052, .054) files be sent on September 30?

No, balance and transmission reporting files will not be sent on September 30. Information for September 29 will be sent the morning of October 3.

Credit

What will be the impact on my credit availability if I have to submit a margining report for my operating loan at the end of the month?

The credit availability for margined credit facilities will be adjusted on the next business day based on the reports submitted.

What will be the impact on payments, rollovers, term renewals of credit facilities with a September 30 due date?

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 the next business day.

Is paying down and augmenting revolving credit facilities possible?

All payouts and the augmenting of revolving credit facilities will not be processed on September 30 and can be processed either on the previous business day or the next business day.

How will the delivery of my loan statements be impacted?

Statements will be produced on the next business day. As a result the delivery of the September statement will be increased by one day.

Where can my clients get assistance?

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