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Jay Currie

One Damn Thing After Another


Royal Pain

As many Canadians found out last week a few lines of bad code can bring down an entire online banking system. Now the customers are looking for compensation.
The bank has promised to refund any overdraft charges or fees that customers incurred because of the disruption and to reimburse other Canadian financial institutions for certain costs their clients incurred, but Normand Painchaud, the lawyer for one RBC client, says that doesn't go far enough.

Painchaud filed a request Monday to be allowed to proceed with a class action lawsuit seeking $500 in compensation for each individual RBC client.
$500.00 seems a little rich; but for people who are paid by direct deposit this was a very big deal.

The bank needs to go a step beyond waiving any additional fees - the question is how. Perhaps the best way would be to waive the monthly service charges the Royal Bank charges on each account.