DISCLOSURE RELATING TO OPENING OF ACCOUNTS
under the Access to Basic Banking Services Regulations

 

  1. CONDITIONS TO BE MET BY AN INDIVIDUAL

    Subject to subsection (2) and for the purpose of subsection 448.1(1) of the Bank Act, the conditions to be met by an individual who is requesting the Bank to open a retail deposit account for the individual are as follows :
    1. the individual shall present to the Bank,
      1. two pieces of identification from among those set out in Part A or B of the schedule at least one of which is from among those set out in Part A of the schedule, or
      2. one piece of identification from among those set out in Part A of the schedule, if the identity of the individual is also confirmed by a client in good standing with the Bank or by an individual of good standing in the community where the Bank is situated;
    2. the individual shall disclose, orally or in writing, the information listed in Part C of the schedule if the information is not available on the pieces of identification presented by the individual; and
    3. if the Bank requests, the individual shall consent to the Bank's verifying whether any of the circumstances set out in paragraph II (1) to (4) below apply to the individual, and to the Bank's verifying the pieces of identification presented by the individual.

  2. REFUSAL TO OPEN RETAIL DEPOSIT ACCOUNT BY THE BANK

    Subject to subsection (2), subsection 448.1(1) of the Bank Act does not apply in the following circumstances :
    1. if the Bank has reasonable grounds to believe that the retail deposit account will be used for illegal or fraudulent purposes (see note below);
    2. if the individual has a history of illegal or fraudulent activity in relation to providers of financial services and if the most recent instance of such activity occurred less than seven years before the day on which the request to open a retail deposit account is made;
    3. if the Bank has reasonable grounds to believe that the individual, for the purpose of opening the retail deposit account, knowingly made a material misrepresentation in the information provided to the Bank;
    4. if the Bank has reasonable grounds to believe that it is necessary to refuse to open a retail deposit account in order to protect the customers or employees of the Bank from physical harm, harassment, or other abuse;
    5. if the request is made at a branch or point of service of the Bank at which the only retail deposit accounts offered are those that are linked to an account at another financial institution.
    6. if an individual requests the opening of a retail deposit account at a point of service at which the opening of such an account can only initiated, the Bank is not required to open the account at that physical location; however, the Bank shall, subject to these Regulations, open the account at another physical location.
    Note:
    For greater certainty and for the purpose of paragraph II (1) above, the fact that the individual is or has been a bankrupt does not, by itself without any evidence of fraud or any other illegal activity in relation to the bankruptcy, constitute reasonable grounds for the Bank to believe that an account for the individual will be used for illegal or fraudulent purposes.

  3. WHEN MISREPRESENTATION OF IDENTIFICATION IS SUSPECTED

    If the Bank, based on its verification of the circumstances set out in paragraph II (1) to (4) above or the pieces of identification, or based on information, if any, provided by the individual that is related to the request, has reasonable grounds to suspect that the individual is misrepresenting their identity, the individual shall present to the Bank one piece of identification from among those set out in Part A of the schedule that bears the individual's photograph and signature.

  4. WRITTEN NOTICE

    If the Bank refuses to open a retail deposit account owing to the existence of any of the circumstances set out in paragraph II (1) to (5) above or owing to the individual's not meeting the conditions prescribed under these Regulations, the Bank shall provide to the individual, in writing,
    1. notice of its refusal to open the account; and
    2. a statement indicating that the individual may contact the Agency if they have a complaint and how the individual can contact the Agency.

    For greater certainty, the pieces of identification required to be presented by the individual under these Regulations shall be original, valid and not substantially defaced.

    If the name shown on one of the pieces of identification presented by the individual differs from the name shown on any other identification presented by the individual, the individual shall provide a certificate evidencing the change of name that has occurred or a certified copy of that certificate.

    PART A
    1. A driver's licence issued in Canada, as permitted to be used for identification purposes under provincial law
    2. An Ontario Photo Card issued in Canada available to individuals 16 years of age and over who do not hold a driver's licence.
    3. A Canadian passport
    4. A Certificate or Canadian Citizenship or a Certification of Naturalization, in the form of a paper document or card but not a commemorative issue
    5. A Permanent Resident card or Citizenship and Immigration Canada Form IMM 1000 or IMM 1442
    6. A birth certificate issued in Canada
    7. A Social Insurance Number card issued by the Government of Canada
    8. An Old Age Security card issued by the Government of Canada
    9. A Certificate of Indian Status issued by the Government of Canada
    10. A provincial health insurance card, as permitted to be used for identification purposes under provincial law
    11. A document or card, bearing the individual's photograph and signature, issued by any of the following authorities or their succesors:
      1. Insurance Corporation of British Columbia
      2. Alberta Registries
      3. Saskatchewan Government Insurance
      4. Department of Service Nova Scotia and Municipal Relations
      5. Department of Transportation and Public Works of the Province of Prince Edward Island
      6. Service New Brunswick
      7. Department of Government Services and Lands of the Province of Newfoundland and Labrador
      8. Department of Transportation of the Northwest Territories
      9. Department of Community Government and Transportation of the Territory of Nunavut

    PART B
    1. An employee identity card, issued by an employer that is well known in the community, bearing the individual's photograph
    2. A bank or automated banking machine or client card, issued by a member of the Canadian Payments Association in the name of, or bearing the name of, the individual and bearing the individual's signature
    3. A credit card, issued by a member of the Canadian Payments Association in the name of, or bearing the name of, the individual and bearing the individual's signature
    4. A Canadian National Institute for the Blind (CNIB) client card bearing the individual's photograph and signature
    5. A foreign passport

    PART C
    1. The individual's name;
    2. The individual's date of birth;
    3. The individual's address, if any;
    4. The individual's occupation, if any.

  5. CASHING OF CERTAIN GOVERNMENT OF CANADA CHEQUES AND OTHER INSTRUMENTS

    1. Refusal to cash cheque or instrument
      1. if there is evidence that the cheque or other instrument has been altered in any way or is counterfeit;
      2. if the cheque or other instrument is not an item to be accepted under Rule G8 of the Canadian Payment Association, as amended from time to time; or
      3. if the Bank has reasonable grounds to believe that there has been illegal or fraudulent activity in relation to the cheque or other instrument
    2. Prescribed maximum amount
      The maximum amount of a cheque or other instrument referred to in subsection 458.1(1) of the Bank Act that the Bank is required by that subsection to cash is $1,500.00.
    3. Conditions to be met
      An individual who requests the Bank to cash a cheque or other instrument shall present to the Bank.
      1. two pieces of identification from among those set out in Part A or B of the Schedule; or
      2. one piece of identification from among those set out in Part A or B of the Schedule if
        1. that piece bears the signature and photograph of the individual, or
        2. the identity of the individual is also confirmed by a client in good standing with the Bank or by an individual of good standing in the community where the Bank is situated.
    4. Individual considered not to be a customer
      An individual is considered not to be a customer of the Bank if the individual does not have a personal deposit account with any branch of the Bank and does not hold a credit card issued by the Bank.
    5. Written notice
      If the Bank refuses to cash a cheque or other instrument owing to the existence of any of the circumstances set out in II (1) above or owing to the individual's not meeting the conditions prescribed under these Regulations, the Bank shall provide to the individual, in writing,
      1. notice of the refusal to cash the cheque or other instrument; and
      2. a statement indicating that the individual may contact the Agency if they have a complaint and how the individual can contact the Agency