Disclosure of Charges (Retail Associations) Regulations

Marginal note:Manner of disclosure

• 4 (1) A retail association shall disclose to its customers and to the public all charges applicable to any of the following services provided by the retail association in respect of deposit accounts with the retail association, other than personal deposit accounts, by means of a written statement, copies of which shall be displayed and made available to customers and to the public at each branch of the retail association at which deposit accounts are kept, at each of the retail association’s points of service and on the retail association’s websites through which products or services are offered in Canada:

  • (a) the acceptance of deposits;

  • (b) the acceptance of coins, cheques or Bank of Canada notes for deposit;

  • (c) the issuance of cheques;

  • (d) the certification of cheques;

  • (e) the handling of a cheque presented by a customer that is subsequently returned because there are not sufficient funds;

  • (f) the holding of cheques for deposit;

  • (g) the handling of cheques drawn in the currency of the United States;

  • (h) the processing of a stop payment on a cheque;

  • (i) the handling of a cheque issued by a customer that is subsequently returned because there are not sufficient funds;

  • (j) the supply of coins and Bank of Canada notes;

  • (k) the handling of overdrafts;

  • (l) transfers between accounts;

  • (m) the supply of account statements;

  • (n) the handling of account confirmations;

  • (o) the conducting of searches related to an account;

  • (p) the provision of information in regard to an account balance;

  • (q) the closing of an account; and

  • (r) the handling of unclaimed balances in inactive accounts.

• Marginal note:Contents of statement

  (2) The written statement referred to in subsection (1) shall indicate that it

  • (a) sets out all charges applicable to services provided by the retail association in respect of deposit accounts with the retail association other than personal deposit accounts; or

  • (b) does not set out all of the charges referred to in paragraph (a) and set out the manner in which information regarding charges not included in the statement can be obtained.