RBC Royal Bank has acknowledged client concerns over new banking fees introduced by the institution here as of June 20, 2016.
However Country Manager, Sandra Fontenelle, has said that the bank continues to communicate with its customers regarding the changes.
She said the bank recognizes that any change in fees is a sensitive topic.
Fontenelle has said that the bank continues to assure clients of its continued commitment to serving them and addressing their concerns.
The Country Manager said the institution wants to thank its clients for their business.
She explained that in a recent review of its services, RBC recognized opportunities to improve on existing deposit product offering, while ensuring that the suite continues to provide value.
RBC customers have been expressing concern over the introduction of a twenty-five dollar monthly fee on savings accounts.
A number of customers have closed their accounts.
Fontenelle said she could not give an exact figure.
Nevertheless she revealed that over the past two days, there has been an increase in the number of clients exercising their options one way or the other.
“Some are coming in just for information, some to consolidate their positions and some are transitioning to different product types,” the RBC Country Manager explained.
“I am not in a position to say how many accounts have been closed – what we are seeing is increased traffic, “Fontenelle said.
She asserted that the increased traffic could be as a result of people coming in to inquire because they are aware of the changes in the pricing.
According to the RBC official, the bank has been experiencing a combination of clients coming in for information and clients who will get advice and decide they will just transition to another product type to suit their needs.
“At this point we don’t have numbers but the increased traffic could be the result of increased inquiries,” Fontenelle disclosed.