Tag: Ashtyn

RBC backs off on paytopay fees after client pushback

TORONTO — The Royal Bank is backing off on its plan to charge customers a fee to make credit card, loan and mortgage payments under certain circumstances.Royal says it has listened to client feedback and reversed its original decision to include those transactions in a customer’s monthly limit of free debit transactions.The change means mortgage and loan payments, investment contributions and credit card payments will not count towards a customer’s monthly limit.Customers who have accounts with unlimited debit transactions would not have been affected.Royal Bank was widely criticized for the new charge that was part of a broader change to the fees it charges customers.The NDP has called on Ottawa to ban so-called “pay-to-pay” fees by Canada’s big banks.The Canadian PressOttawa should ban ‘pay-to-pay’ fees charged by big banks, NDP saysFed up with the rising fees at Canada’s big banks? There’s an easy solution read more