Economist, Dr. Thompson Fontaine, believes that the lack of profitability in the banking system recently has contributed to the high bank fees set at the royal bank of Canada.
These statements come on the heels of a $25 service charge per month on savings accounts which has already been implemented in some countries in the region including Dominica.
He expressed his confusion at the costs saying that the bank must have known the consequences of this action.
Fontaine states these fees are not insignificant as fees in addition to the service charge add up to more than $25.
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