Royal Bank

Cheque Tracing at the Click of a Mouse

    Clients Get Direct Access to Online Digital Imaging

    BC Royal Bank has become the first major
Canadian bank to give clients direct access to digital images of paper-based
transactions online, making cheque tracing as easy as a click of a mouse.
    Through online digital imaging, paper-based transactions such as personal
and business cheques, business deposits and personal credit line transactions
are stored in an image bank (for up to 90 days) and can be called up
instantly. It has virtually eliminated extended waits of up to a week for
tracing.
    This service has been available to RBC clients through branch and
telephone inquiries since October 2003 at a cost of $5.00 per printout. But
now clients can view and print the image within their RBC Royal Bank Online
Banking service at a reduced fee of $1.50 for each viewing.
    "Even the possibility of a cheque gone missing or a disputed payment can
leave people flustered and anxious for answers quickly," said Carolyn Burke,
RBC Royal Bank's vice-president, Payments and eCommerce. "Now with online
cheque imaging, they can get their answers safely, securely and almost
immediately. And they can do it when it's convenient to them."
    Digital cheque imaging is the latest addition to a host of innovative RBC
online banking features that includes Interac(*) Email Money Transfer, third
party payment services, stop payments, and secure email communication with RBC
Royal Bank staff. At present, RBC is the only major Canadian bank to offer its
clients the ability to view accounts held at other financial institutions.
    "We continue to add services that are relevant for our users and that
make sense to do online," added Burke. "Online banking has come of age so our
online banking clients can manage more of their financial needs themselves
than ever before."
    RBC first introduced online banking in 1996 and today has over
2.6 million online banking and trading clients. Bill payments and transfers
are two of the most common activities performed online and account for over
72 million transactions processed annually.

    About RBC Financial Group
    Royal Bank of Canada (RY: TSX, NYSE) uses the initials RBC as a prefix
for its businesses and operating subsidiaries, which operate under the master
brand name of RBC Financial Group. Royal Bank of Canada is Canada's largest
bank as measured by market capitalization and assets, and is one of North
America's leading diversified financial services companies. It provides
personal and commercial banking, wealth management services, insurance,
corporate and investment banking, and transaction processing services on a
global basis. The company employs 60,000 people who serve more than 12 million
personal, business and public sector clients through offices in North America
and some 30 countries around the world. 

TORONTO, July 21 /CNW/ - R