News

First for Canadian Cross-Border Shoppers

Friday 8 October 2004 20:38 CET | News

RBC Royal Bank has become the first major Canadian financial institution to offer its clients the ability to use their debit cards when shopping in the United States.

RBC clients can now use their debit cards to access their primary Canadian chequing account for purchases at over a million retailers in the U.S. This new service is a result of an alliance between Acxsys Corporation, the architects of the Interac national PIN debit network in Canada, and NYCE Corporation, one of the largest debit networks in the United States. Debit receipts will show purchase amounts in American dollars, and the amount debited to the account will be in Canadian dollars. U.S. purchases are converted to Canadian dollars at an exchange rate 2.5 per cent over the interbank spot rate as defined by Acxsys Corporation in effect at the time of processing. RBC clients heading to the U.S. this weekend should look for the NYCE network brand at point of sale terminals. A list of retailers on the NYCE network can be found at www.nyce.net/consumers/retailer_list.html.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce