The Cable

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(Trinidad Guardian) Eight months after it caused an uproar over its decision to increase fees for its personal and business banking services, RBC Royal Bank announced yesterday that, effective March 27, it would be introducing a number of new fees and increasing some of its existing fees.

The Canadian-owned bank published a new personal banking schedule of fees and charges on its website. The new schedule includes an $8 deposit fee for what the bank describes as day-to-day banking, day-to-day savings, enhanced savings and student banking customers. The bank’s schedule does not make clear whether this new deposit fee includes ATM and salary deposits or if the fee pertains to only in-branch deposits.

Deposits by savers over 60 and those defined as young savers remain free, as do deposits made by VIP banking customers and those who enjoy RBC Royal’s no-limit banking.

Deposits in the bank’s high interest bearing eSavings accounts will now pay $14 to deposit.

According to the Central Bank’s comparative schedule of fees and charges as at June 30, 2016, RBC Royal Bank charged no fee on in-branch deposit transactions (teller) up to the middle of last year.

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