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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For further information, please contact:
Kathy Bevan, Media Relations, (416) 974-8810
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