NASSAU, BAHAMAS – Royal Bank of Canada has informed its customers that starting July 31st, a fee of $0.50 will be applied per declined transaction for other bank ATM transactions within the country and purchases at local points of sale.
In a notice, the bank emphasized the importance for customers to ensure they have sufficient funds in their accounts, verify correct entry of card details and PIN, and be mindful of their debit card’s daily limit and/or business daily limit.
In March, the Central Bank released its analysis of commercial bank fees, detailing costs across financial institutions, particularly for transactions involving deposit accounts and credit services.
The analysis revealed varying costs among financial institutions for deposit accounts and credit service transactions, with digital transactions proving cheaper than traditional methods. The regulator also indicated that it aims to enhance digital financial inclusion through policy initiatives and consultations to improve transactional access and credit management transparency.
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