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Royal Banks Of MO - Change In Debit Card Use Requirement

Saturday, April 13, 2013 - 3:28 PMRoyal Banks of Missouri
The Majestic Checking Account debit requirements are changing as of 6/1/13:

a.  12 minimum (no longer 15).  
b.  Signature based only (as "credit" option, not debit w/pin)
c.  $5 minimum transactions



2
ekatekat75 posts since
Jan 22, 2010
Rep Points: 246
1. Saturday, April 13, 2013 - 10:04 PM
It looks like I received the same e-mail today from Royal Banks that you did, ekat.  What I don't understand is whether the new debit card requirements take effect for the qualification cycle ending 6/10/13, or the one that follows (ending 7/8/13).
1
ChadJack12ChadJack1217 posts since
Apr 22, 2010
Rep Points: 42
2. Sunday, April 14, 2013 - 2:29 AM
Since the effective date is June 1, I take it to mean that for all transactions posted prior to June 1, the old 15 no minimum dollar amount rule applies. As of June 1, only 12 signature based transaction with a minimum of $5 qualify.

I'd rather they raise the minumum transaction amount than drop the rate further or lower the cap.
3
76776719 posts since
Sep 20, 2010
Rep Points: 133
3. Sunday, April 14, 2013 - 6:39 AM
It looks like I received the same e-mail today from Royal Banks that you did, ekat.  What I don't understand is whether the new debit card requirements take effect for the qualification cycle ending 6/10/13, or the one that follows (ending 7/8/13).
 

I have the same question.  Thought effective June 1 was kinda weird.
1
ninissniniss60 posts since
Sep 22, 2010
Rep Points: 154
4. Sunday, April 14, 2013 - 7:58 PM
I replied to the e-mail I received from Royal Banks with my question about the start date, and I received the following response today:

"The new requirements will take effect on existing accounts after the statement period ends on June 10th."
5
ChadJack12ChadJack1217 posts since
Apr 22, 2010
Rep Points: 42
5. Monday, April 15, 2013 - 12:02 AM
I replied to the e-mail I received from Royal Banks with my question about the start date, and I received the following response today:

"The new requirements will take effect on existing accounts after the statement period ends on June 10th."

Good.  Thanks for the follow-up!  So we have 2 more months to go.


 
1
ninissniniss60 posts since
Sep 22, 2010
Rep Points: 154
6. Monday, July 15, 2013 - 6:50 AM
I did a little test last month.  I made an additional debit card transaction (using pin) and on the RCA status email it listed 13 under "12 debit card transactions."  I wonder how strict they are enforcing the "signature based" requirement.    
1
ninissniniss60 posts since
Sep 22, 2010
Rep Points: 154
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