RBC defends its credit card limits
RBC insists that the recent foreign exchange limits announced for its credit cards are necessary in the face of a steady increase in foreign currency transactions with no corresponding increase in supply. The Canadian-based bank said, like any financial institution, it regularly reviews the forex limits on clients’ credit cards and realised it would have to implement limits effective December 1. In response to questions from Guardian Media, RBC said, “We understand this situation may cause inconvenience, and we deeply empathise with our clients who rely on foreign currency for their personal and business needs. We also recognise the holiday months are...
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