Barbados: RBC Royal Bank removes transaction fees following CBB directive

The Central Bank of Barbados (CBB) has announced that RBC Royal Bank has officially ceased imposing transaction fees on its customers for utilizing the automated clearing house, which includes transactions through the real-time payments system. 

This move comes after discussions between the Central Bank and RBC.

RBC Royal Bank pledges refunds for affected customers

The RBC Royal Bank has pledged to reimburse customers who have incurred these fees since the Central Bank’s directive on January 2, 2024, mandating the removal of charges on such transactions. 

Refunds on the horizon

The CBB has also confirmed that these refunds will be administered to affected individuals, no later than January 19.