RBC exec: Sometimes we need to change course
NASSAU, BAHAMAS — Royal Bank of Canada (RY on TSX and NYSE) (RBC) yesterday announced the reintroduction of $20 notes at branch ATMs across The Bahamas.
This comes nearly three months after the bank made the decision to discontinue issuance of the $20 bills at ATMS, which resulted in widespread backlash from the Bahamian populous.
At the time, countless Bahamians took to social media to vent their frustrations while RBC maintained the decision was based on a review of its clients’ banking habits, which allegedly found “there was not a demand for $20 bills”.
While our initial decision was based on data regarding client banking habits, we recognize the importance of listening to our clients and our communities.
RBC Managing Director and VP, Personal Banking LaSonya Missick
Yesterday, LaSonya Missick, Managing Director and Vice President, Personal Banking, The Bahamas and Turks and Caicos Islands, said: “We heard from clients and listened to their feedback regarding our recent decision to change the bill mix in our Bahamian ATMs.
“Based on that feedback, I am pleased to advise that we will reintroduce the $20 note at our branch ATMs across The Bahamas.”
The $20 notes will be available at all RBC ATMs that are co-located with RBC’s branches, and at ATMs located at RBC’s regional headquarters on East Hill Street in Nassau.
However, RBC ATMs that are offsite, such as those found at grocery stores, gas stations or convenience stores, will continue to offer notes in $50 and $100 denominations.
“While our initial decision was based on data regarding client banking habits, we recognize the importance of listening to our clients and our communities,” added Missick.
“Sometimes we need to change course.
“Our clients are at the center of everything we do and we want to continue providing them with more convenience and more flexibility when banking with RBC.”
The reintroduction of the $20 notes at branch ATMs on New Providence took place between December 9 and 10, while banknotes at Family Island Branch ATMs will be re-added between December 10 and 15.
