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For Consumers |
Consumer Protection: Know Your Rights |
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Opening a bank account
What Can I Do If The Bank Refuses to Open a Personal Bank Account?
If the bank refuses to open a personal account, the bank must inform you in
writing of its refusal to open the account. The bank, however, doesn't have to give
you a written reason for its refusal.
If you disagree with the bank's decision not to open an account and you want to complain,
ask the bank for its complaint handling process. Then follow the steps in this process
to have the bank's decision reviewed.
The bank must also give you written instructions on how to
contact the Financial Consumer Agency of Canada (FCAC).
The FCAC supervises banks to ensure they comply with federal consumer protection measures,
including the Access to Basic Banking Regulations, that apply to them. It analyses the
information it receives from consumers and the bank itself, and seeks appropriate
compliance action if it determines that the bank has not complied with the legislation.
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