Introduction
The RBC Royal Bank is based in Canada and provides a host of banking services for its customers. One of these services is online banking which allows customers to carry out various transaction activities over the internet in the comfort of their homes, offices or even when on holiday. Online banking with RBC means that one has the ability to pay all their bills over the internet without the hassle that the manual option presents.
History
In order to pay any bill when online banking with RBC; an account holder has to create a list of all the people or entities they will be making payments to on a regular basis. The list can be updated at any time and if one happens to have a long list of payees a search function is provided to speed up the searching process. When the benefactor of the payment is located the customer enters the account number and after confirming the details they can proceed to quote the figure.
In case a customer makes any error with the payee’s account details when online banking with RBC; then they have to ensure that they get in touch with the bank before the end of the working day so that the transaction can be reversed. This only applies to payments to non RBC bank account holders; if the recipient has an account with RBC then it will be impossible to reverse the transaction
Features
Online banking with RBC also provides its clients with the ability to view a history of all the payments made over a period of time. This is usually a period of about half a year. Customers have to use a code to activate their online accounts; this code would be sent to the holder’s email by the bank once they apply for the service. The code serves to confirm the user’s identity.
The transfer of funds between two RBC online account holders happens in real time and this is the reason for its irreversibility. Moving money to non RBC customers offers the advantage of a delay in case a mistake has been made by the sender. This is a vital feature when online banking with RBC. Account holders have to ensure that they are indeed very careful with all the details they input before carrying out any transaction.
Online banking with RBC also provides a maximum figure that can be moved in one transaction. The maximum figure will be determined by the card that the client has with the bank. Different account holders will have different figures that they can be allowed to move in one day.
Tips and comments
Online banking with RBC has offered convenience to its customers and reduced the amount of time that would usually be wasted when standing in banking halls. The service provides flexibility thus freeing up some time for customers so that they may be able to engage themselves in meaningful activities. Although security is guaranteed; customers are still advised to be careful when making payments to avoid erroneous transactions.
