Bankruptcy Alberta

Q:

Having Trouble Opening a Bank Account in Alberta, Canada?

A:

Protecting Consumers: The New Federal Banking Regulations

Whether you need to cash your paycheque or pay a bill, having a basic personal bank account is essential. To ensure that all Canadians can obtain these accounts, the Government of Canada has introduced the Access to Basic Banking Services Regulations, which took effect on September 30, 2003.

The Financial Consumer Agency of Canada (FCAC) is responsible for enforcing these regulations, which will make the rules for obtaining a basic personal bank account clearer for Canadians. For example, a bank can not refuse to open a basic personal account for you just because:

• you don't have a job;

• you are or have been bankrupt; or

• you're not depositing money into the account.

A bank must also cash most Government of Canada cheques for non-customers at no charge.

Understanding and Using Your New Banking Rights

Opening a Bank Account

The new regulations apply to personal bank accounts that you request in person at a bank branch or point of service. They don't apply to accounts you open by telephone or Internet, or to business or commercial accounts.

• What do I need when opening a personal bank account?

• What if the bank won't open an account for you?

• Your rights

• What if the bank won't open an account for you?

• What ID do you need to open a personal bank account?

For more information on this topic, please refer to the Financial Consumer Agency of Canada

Our qualified Alberta trustess are familiar with all aspects of
Canadian bankruptcy law. We currently have offices in
Calgary, Wetaskiwin, and Edmonton, Alberta, Canada.

Call now for a free consultation: 310-8888