RBC Royal Bank

RBC Royal Bank defends decision to increase fees

RBC Royal Bank has defended its decision to increase fees for personal and business banking services, saying the new rates are within industry standards. 

In emailed responses to questions from the T&T Guardian, the bank said its competitive edge will not be diminished by the adjustments to its rates which are due to take effect on May 31 and June 17.

RBC’s revised schedule of fees and charges include a $1 increase in standing orders to $7. The fee for initial set up of a standing order, as well as for amendments to a standing order, has been increased to $10.