RBC Royal Bank introduces high volume transaction account for frequent debit card users
TORONTO, JULY 12, 2006 — RBC Royal Bank has introduced a new high volume transaction account that offers significant cost savings for those Canadians who rely upon the convenience of debit cards for everyday transactions.
For a flat monthly fee of $11.95, the new RBC No Limit Account lets you make as many debit card purchases in Canada as you want, and includes the following range of transactions:
* debit card purchases
* cash withdrawals at RBC banking machines
* bill payments at RBC banking machines
* bill payments through online banking
* funds transfers through online banking
* funds transfers through telephone banking
* pre-authorized payments
* cash withdrawals, transfers, and bill payments in branches
* cheque writing
“Today, it’s easy to withdraw money at convenient times and places, so people tend to debit their accounts more often,” said Doug Collins, vice-president, Consumer Accounts & Payment Services. “It’s almost second nature. In any given day, you may use your debit card at a retail store, at a banking machine, to buy lunch, to pay for gas, or to get groceries. The RBC No Limit Account is the ideal product for people who debit their account often and responds to the way Canadians want to do their banking.”
According to industry statistics, Canadians used their debit cards more than 3 billion times in 2005 — an average of 95 times a second for every hour of every day.* Active account users, who complete upwards of 90 transactions in any given month would save over $33 by using RBC No Limit, instead of paying for each transaction individually.
A complete list of RBC Royal Bank’s deposit accounts, banking plans and fees is included in the “Everyday Banking” guide available at RBC Royal Bank branches or online at www.rbcroyalbank.com.
* Source: Interac Association
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