The Royal Bank of Canada has waived off fee for Interac e-transfers from a personal chequing account. The bank said it will no longer charge a $1 fee for the e-transfer. At the same time, fees for Interac e-transfers from savings accounts and small business accounts remain at $1 and $1.50, respectively. RBC said it made the decision to drop the fee for Interac e-transfers after it looked at statistics from Interac, which showed steady growth in usage of the company’s e-transfer service. Bank’s digital, payments and cards executive vice-president Linda Mantia said offering free e-transfers supports the bank’s commitment to helping clients seamlessly and quickly send money how they want and when they want. RBC’s investment in mobile has really accelerated the adoption of person-to-person payments and in 2015 RBC clients sent more than $ 22 billion in payments between our two person-to-person payment services – far surpassing many incumbents and new entrants in the fintech space, she said.
