STRATEGIC PARTNERS
December 20, 2001
TORONTO -- Royal Bank has followed the lead of CIBC in introducing a surcharge at its off-site ATMs.
Royal Bank announced that non-customers will be charged a convenience fee ranging from $1.25 to $1.50, depending on the location. Royal Bank spokesman Beja Rodeck said the bank is rolling out the fee across its network of 2,100 off-premise ATMs and estimates the fee will apply at all machines by early January.
CIBC became the first Canadian bank to introduce a surcharge at its 1,800 off-site ATMs on Nov. 13. CIBC spokesman Joe Heim said it may take up to a year to implement the charge at all of CIBC's machines.
Both banks said that customers will be advised of the fee during the transaction.
