Transfer Out Fee | RBC Royal Bank | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
Transfer Out Fee
May 2, 2022
9:18 am
BlueSky
Member
Members
Forum Posts: 149
Member Since:
November 8, 2021
sp_UserOfflineSmall Offline

RBC fee changes. Effective Aug. 1, 2022, they'll charge $150 transfer out fee for registered and non-registered accounts, up from $50 and $0 respectively.
Registered Accounts include TFSA, RRSP, RESP, RRIF, RDSP.

May 2, 2022
11:13 am
HermanH
Member
Members
Forum Posts: 1242
Member Since:
April 14, 2021
sp_UserOfflineSmall Offline

BlueSky said
RBC fee changes. Effective Aug. 1, 2022, they'll charge $150 transfer out fee for registered and non-registered accounts

How exactly does that transfer fee work for non-registered accounts?

May 2, 2022
11:16 am
rodeworthy
Member
Members
Forum Posts: 196
Member Since:
February 1, 2016
sp_UserOfflineSmall Offline

Can you provide official link to this information, please?

May 2, 2022
12:43 pm
Loonie
Member
Members
Forum Posts: 9398
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

It came as a fee update blurb with a credit card bill at my house. I'm not sure if it's available online.
I threw it out as there was nothing that applied to us.

May 2, 2022
1:06 pm
FastJonny
Ontario
Member
Members
Forum Posts: 51
Member Since:
February 20, 2022
sp_UserOnlineSmall Online

rodeworthy said
Can you provide official link to this information, please?  

Here is one thing I saw.
https://www.rbcroyalbank.com/onlinebanking/servicech/pdf/service_fee_and_account_changes_en.pdf

May 2, 2022
5:21 pm
Loonie
Member
Members
Forum Posts: 9398
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

The transfer fee on non-registered only applies to mutual fund accounts from what I see.

May 3, 2022
8:04 am
Oscar
Member
Members
Forum Posts: 290
Member Since:
October 17, 2018
sp_UserOfflineSmall Offline

rodeworthy said
Can you provide official link to this information, please?  

Second to last on this page. Right click and save PDF.

https://www.rbcroyalbank.com/onlinebanking/servicech.html

May 3, 2022
8:23 am
BlueSky
Member
Members
Forum Posts: 149
Member Since:
November 8, 2021
sp_UserOfflineSmall Offline

To all:
It arrived in my bank's message centre, PDF format.

Screenshot-2022-05-03-111958.jpg

May 3, 2022
8:26 am
BlueSky
Member
Members
Forum Posts: 149
Member Since:
November 8, 2021
sp_UserOfflineSmall Offline

HermanH said

How exactly does that transfer fee work for non-registered accounts?  

I don't know at this point, and I don't have any meaningful dealing with RBC.

May 3, 2022
8:44 am
Oscar
Member
Members
Forum Posts: 290
Member Since:
October 17, 2018
sp_UserOfflineSmall Offline

I long for the days when they just nickel and dimed us at every turn. Is this 200% fee increase due to climate change or the supply chain crisis ?

May 3, 2022
9:22 am
Loonie
Member
Members
Forum Posts: 9398
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Oscar said

I long for the days when they just nickel and dimed us at every turn. Is this 200% fee increase due to climate change or the supply chain crisis ?  

LOL!
It must be the supply chains. Their computer broke down, couldn't get parts, so they decided to use correcting fluid, which smeared and made a mess, so that 6 looked like 200!
I hear they're happy with the outcome though and plan to use this technique elsewhere. It's called 'innovation', and some of them are getting a bonus for thinking it up!sf-laugh

Please write your comments in the forum.