NASSAU, BAHAMAS — The Royal Bank of Canada clarified yesterday that a declined transaction fee of $0.50 will only apply to declined transactions at other bank ATMs within the country and for declined local point-of-sale transactions amid public outrage over the announcement.
Andrew Knowles, the bank’s senior manager of corporate communications, responded in an email to Eyewitness News, stating: “RBC wishes to clarify that a declined transaction fee of $0.50 is being implemented for Other Bank ATMs within The Bahamas (in-country) and purchases at local Point of Sales (POS) terminals. This fee will apply only to declined transactions at all other bank ATMs within The Bahamas (in-country) and for declined local POS transactions.”
He added: “RBC also reminds its clients to ensure they have sufficient funds in their accounts to complete transactions, verify that their card details and PIN are entered correctly, and be aware of their debit card’s daily limit. Clients are encouraged to review RBC’s Personal Schedule of Service Fees and Account Charges, available on our website at www.rbc.com/bahamas.”
Outrage was sparked following an Eyewitness News article on the announcement, with users overwhelmingly criticizing the move, expressing displeasure with banking fees, and questioning the rationale behind it.
“Well, they already charge $1. What does this mean, are they charging $1.50 now? Make it make sense,” said one online commenter.
“How is it fair if the transaction declines and it’s not my fault? I’m still getting charged. Come on now, that’s not right,” said another poster.
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