Friday, September 26, 2008

Royal Bank of Canada trials SMS payments service

Royal Bank of Canada (RBC) is trialling a mobile person-to-person payments service that lets customers send and receive money instantly using SMS text messages. The RBC Mobex payment service is being piloted by bank employees and their family and friends until January 2009, with a wider trial expected to follow. To make a payment, participants send a text message to RBC Mobex with the dollar amount and the recipient's mobile number. Funds are then taken from the sender's stored value Mobex account and moved to the recipient, who receives a notification text message. Up to $100 per day can be sent to anyone with a mobile phone serviced by a Canadian wireless carrier, even if they do not have an RBC Mobex account, as long as they have registered for the service. Trial participants can remotely track and manage their account directly from their mobile phone or through the RBC Mobex site to check balances, view payment history and add funds. For transactions of over $25, senders receive a call to verify the transaction with a PIN. Anne Koski, head, payments innovation, RBC, says: "We're testing this mobile phone service to find out if consumers are eager to instantly send and get cash when it's needed most, in an easy but secure manner." RBC says there are no additional fees to use the service but users are subject to any regular bank or wireless carrier charges and fees. Last year the bank teamed with Visa to launch a NFC-based mobile payments trial featuring the card firm's contactless payWave application.
http://www.finextra.com/fullstory.asp?id=19041

2 comments:

Corporate Bully said...

Att: RBC Bank President Gordon Nixon - Salary - 11.73 Million!!


$100,000 - MISTAKE (FISHERMEN'S LOAN)


I'm a commercial fisherman fighting the Royal Bank of Canada (RBC Bank) over a $100,000 loan mistake. I lost my home, fishing vessel and equipment. Help me fight this corporate bully by closing your RBC account.


Website http://www.corporatebully.ca
YouTube http://www.youtube.com/CORPORATEBULLY

There is no monthly interest payment date on the contract.
Date of first installment payment (Principal + interest) is approximately 1 year from the signing of my contract.
Demand loan contracts signed by other fishermen around the same time showed a monthly interest payment date on their contract,(agreement).
The lending policy did change at RBC from one payment (principal + interest) per year for fishing loans to principal paid yearly with interest paid monthly. This lending practice was in place when I approached RBC.
Only problem is the loans officer was a replacement who wasn't familiar with these type of loans. She never informed me verbally or in writing about this new criteria.


Phone or e-mail:
RBC President, Gordon Nixon, Toronto (416)974-6415
RBC Vice President, Sales, Anne Lockie, Toronto (416)974-6821
RBC President, Atlantic Provinces, Greg Grice (902)421-8112 mailto:greg.grice@rbc.com
RBC Manager, Cape Breton/Eastern Nova Scotia, Jerry Rankin (902)567-8600
RBC Vice President, Atlantic Provinces, Brian Conway (902)491-4302 mailto:brian.conway@rbc.com
RBC Vice President, Halifax Region, Tammy Holland (902)421-8112 mailto:tammy.holland@rbc.com
RBC Senior Manager, Media & Public Relations, Beja Rodeck (416)974-5506 mailto:beja.rodeck@rbc.com
RBC Ombudsman, Wendy Knight, Toronto, Ontario 1-800-769-2542 mailto:ombudsman@rbc.com
Ombudsman for Banking Services & Investments, JoAnne Olafson, Toronto, 1-888-451-4519 mailto:ombudsman@obsi.ca

"Fighting the Royal Bank of Canada (RBC Bank) one customer at a time"

PaymentGuy said...

PG feels your pain bro! I have RBC too... crap service, high rates, bad ebanking blah blah blah. PG switched most of his Canadian cash stash to Toronto Dominion. Very happy with TD so far. Drop me a line if you want me to post about your troubles.