Customers are expressing outrage that the Royal Bank of Canada has stopped cashing cheques for customers without an account at the bank, so much so that they’ve taken their concerns to Prime Minister Gaston Browne.
One customer who spoke publicly on the issue said he was recently refused cash after he tried to change and RBC cheque at its branch in St. John’s.
“I did some work for a client, they gave me a Royal Bank cheque. I went to Royal Bank and they say they stop cash cheque,” the man said.
He urged PM Browne to “please look into it because some people out there don’t have an account and if you give them a cheque what are they going to do with it?”
In response, PM Browne told the caller to Pointe FM that he will ask the Attorney General to look into the matter “to see whether or not they may not be violating their fiduciary responsibility to their customers.”
“I understand that globally we are moving towards a cashless society but Royal Bank has to take into consideration that we are nowhere close as yet,” Browne, a former banker said.
“We are still a society that is cash-based and for them to take a decision that they are not paying cash for cheques drawn on their bank, I think that goes against the whole culture of the society.
“They are putting customers at a major disadvantage,” he added.
It is not certain when the new Royal Bank of Canada policy took effect or whether it was announced through the local media.
However, in reports from Trinidad as far back
We reached out to the local branch of RBC but calls went to voice mail.
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