Could someone explain RBC's new fees?

[pioneer]

Banking sector ppl...RBC gonna implement some kinda revised fees for transactions but I'm pretty confused here



WRT to savings acccounts...from what I understand "in bank" debit/withdrawals will now carry a fee of $4.00, one free debit transaction per month, am I right?


What is this monthly service charge about for "current accounts"?

[maj. tom]

RBC Canada wants customers to do more online banking so they can launch apps and enter the realm of 1st world banking. Like Wells Fargo and Bank of America.

Is this relevant to RBTT?

[De Dragon]

Means you gotta pay the $25 each and every month, and I'm guessing whatever is the rate for any transactions over this amount.

[speedist]

wut? does this not defeat the purpose of a savings account or multiplier?

[De Dragon]

wut? does this not defeat the purpose of a savings account or multiplier?

If'n yuh money small, it sure does

[pioneer]

Look like we're screwed

[speedist]

very. Roytrin units affected? was going to withdraw all monies anyway.

[MonsterPower]

doh bank wid dem #notaffected

[Kiro_lee]

future fortune ftw

[AdamB]

They just putting fees equal to Scotia. Scotia online banking is also second to none!

[UML]

I closed off my account.

[speedist]

will have to jump to a next bank...

[kevinknr]

I have a savings account with rbc.

Does the $4 charge apply to ATM withdrawals?

If so, I wont be sticking with rbc anymore..

[rocknrolla]

my interpretation of the information posted.

if yuh have money we ent gonna firetruck with u.

if yuh poor we gonna firetruck with yuh cuz yuh too poor to take we to court anyway muhahahahah.

[tr1ad]

go to court over what exactly

to those that feel unaffected, think again

all banks will go this way

[pioneer]

For what I gather, ATM withdrawals not affected and would carry usual charges.

If you go into the bank to do a withdrawal more than once, every transaction after the first one will cost you $4.00

I do not know what the monthly service charge on "current accounts" mean. Will try to call RBC tomorrow to find out, although I'm not looking forward to a clear response.

[rocknrolla]

go to court over what exactly

to those that feel unaffected, think again

all banks will go this way

this was done in america, everyone protested and the fees were removed. that is $300 plus to store your money in their bank which they using to lend and make money. but trinidad laws so backward theyll probably win in court here.

[tr1ad]

again, court for what?
service fees?

you saying you able to justify what their service fees should be?
trinidad laws do not cover a private institution fees, backward or not

you always pay a fee in the bank, but maybe you need to actually look at your statements to see it

[Yorkshirelass]

http://www.rbtt.com/tt/personal/file-711343.pdf

[pioneer]

Yes Yorkshirelass that's where I got it from.

[TEMPO]

under d mattress fuh it yes !

[ZeroOne]

Is current accounts and Personal savings Accounts the same thing?

[pioneer]

This is what I wanna know?...wtf is that?

I showed two attorneys it and they are mindfuct as to its meaning

[rocknrolla]

again, court for what?
service fees?

you saying you able to justify what their service fees should be?
trinidad laws do not cover a private institution fees, backward or not

you always pay a fee in the bank, but maybe you need to actually look at your statements to see it

no but it could justify changing banks to one that doesnt require the fee or many ppl with large savings pulling their money out the bank.. but look what it say..

if ur savings balance is 15000 and up they wont charge any fee.. LOL that is so they can retain their customers with large deposits in savings while making a money on the poor man head.

scotiabank charges $15 per month for their new savings account which they told everyone theyd be upgrading to, but they have an alternative savings account service where you pay nothing. but they dont tell u about it you have to read it and ask about it urself. they try to push the account type with the service fee as if it's the only available option tho.. lol.

if u aint smart and watching them and asking plenty question ull get skull. that is always how the banks have been and always will be.

sometimes, if u lucky, when u go to withdraw all ur money and close the account and they ask u y.. say it's because of the service fee and they MIGHT offer to waive it for u dont know their policies.

[javishm]

good thing i broke

[TriniAutoMart]

Is current accounts and Personal savings Accounts the same thing?

In simple terms, what they refer to as a "current account", is what we know as a "chequing account".

[pioneer]

Ohhh...well let's hope that is correct...I will try to verify tomorrow

How about we all bomb them with calls

[pioneer]

From all definitions, it seems TAM is right...it means chequing account

[javishm]

btw

viewtopic.php?f=4&t=504167&hilit=rbc+new+fee

[pioneer]

That's great, but it only got 7 posts.

Thread with more posts wins.