Canada's Royal Bank CEO defends ATM fees

Canada's Royal Bank CEO defends ATM fees
Tags: Bank / Credit Union, Distributors / ISO / IAD, North America, Other, Regulatory Issues, Retail / Off-Premises, Transaction Processing, Trends / Statistics
March 5, 2007

Reuters: ATMs that provide convenience should charge fees, the Royal Bank of Canada's president and chief executive said March 2. Executives from Canada's chartered banks are expected to meet with Canada's Finance Minister to discuss bank-machine fees. Some opposition politicians have urged the Canadian government to act to reduce or kill ATM fees.

(Update: Reuters reported March 5 that Flaherty is still pushing Canada's largest financial institutions to lower their fees. The fees that independently operated, so-called white-label, ATMs charge have not yet been addressed by Flaherty.)