RBC Unveils New Banking Program For Remote Areas

RBC Unveils New Banking Program For Remote Areas

Wednesday, July 29, 2009 at 15:02

The Royal Bank of Canada is rolling out a new banking service for Aboriginal people who live in remote areas.

RBC says the new service allows those residents to open accounts without having to actually travel to the bank in person.

Instead, designated members of the community — such as police officers and band chiefs — will be allowed to verify the identity of the individual at the remote location, and witness the signing of the agreement.

The designer of the program, Dale Sturgess, says the service should make it easier for isolated residents to do banking by telephone and Interac.

According to RBC, approximately 66 per cent of on-reserve First Nations people live in rural or remote parts of Canada, requiring them to travel long distances to visit a bank branch in order to open an account and verify their identity.