RBC launches new high interest U.S. dollar online savings
TORONTO, May 1, 2008 — High interest, no minimum
monthly balance and free unlimited real-time online transfers
to other RBC accounts are just some of the benefits of RBC's
new U.S. dollar, high interest, online personal savings account,
launched today, the first offered by a major Canadian bank.
The new RBC US High Interest eSavings account will offer an
introductory rate of 1.50 per cent based on the current short-term
interest rates in the U.S. and is ideal for Canadians accustomed
to setting aside U.S. dollars.
"This online account is designed for people who hold
U.S. funds and are looking to earn higher interest on their
savings," said Max Thompson, head, GICs and Savings.
"The majority of our account holders who have our existing
personal U.S. dollar account do not write cheques, so we are
pleased to offer an alternative solution that is better suited
to their savings needs."
According to an RBC poll released last week, nearly half
of Canadians who travel to the U.S. purchase their U.S. dollars
at the last minute. In fact, most Canadians (64 per cent)
tend to keep their U.S. dollars at home. "What we have
found is that many people may not be aware of how they can
make their U.S. dollars work better for them," Mr. Thompson
added. "Instead of keeping U.S. dollars in a drawer where
it can get lost or forgotten, consumers can put their U.S.
dollars in an account where they earn interest and it's safe.
With our new RBC US High Interest eSavings account, anytime
they feel the exchange rate is right for them, our clients
can easily transfer funds from their Canadian account to their
US eSavings account."
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Jackie Braden, RBC, Media Relations, (416) 974-2124