A Royal Bank of Canada sign is pictured in downtown Toronto on Dec. 2, 2011. 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. THE CANADIAN PRESS/Nathan Denette
Republished May 22, 2015 - 1:31 PM
Original Publication Date May 22, 2015 - 9:20 AM
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.
The big bank (TSX:RY) 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.
News from © The Canadian Press, 2015