A banking fee introduction of 1 percent on cash deposits in excess of $10,000 made over-the-counter has at least one gas station retailer crying foul and calling for government intervention.
Effective January 1, 2011, RBC Royal Bank of Canada (Bahamas) Ltd. implemented the fee hike. Other fee hikes include a charge of 1 percent for the exchange of coins over $100 in value (for non-RBC customers), and a charge of $1 for deposits per transaction for over-the-counter withdrawals and debits on savings accounts. The gas station retailer, who wished to remain anonymous, told Guardian Business that the fee hike would impact many local gas station businesses as well as small businesses.
“If they h ...

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