Frequently Asked Questions
Ordering bonds over the Internet
Q: What bonds can I buy online?
You can order the Canada Savings Bond (CSB), which is cashable at any time, and the Canada Premium Bond (CPB), which is cashable once a year on the anniversary of the issue date and during the 30 days thereafter. The Canada Premium Bond offers a higher rate of interest at the time of issue than the CSB on sale at the same time.
Q: Are the RRSP and RRIF options available?
Bonds may be purchased within The Canada RSP online. The Canada RIF option, however, is only available at financial institutions.
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Q: How and when will I receive my bonds?
Once we receive payment for your bonds, we will process your order and mail the certificates to the address that you provide. The owner should expect to receive the certificates 4 to 6 weeks after the issue date of the bonds.
Bonds purchased within The Canada RSP do not have certificates. Instead, statements of account outlining the details of your investments in this plan will be issued semi-annually as at June 30 and December 31. A confirmation will be mailed to you by the 15th of the month following the date the RRSP was opened. You will also receive a tax receipt (for your annual contributions to The Canada RSP) in February or March that can be used to claim a tax deduction when you file your tax return.
Q: What browser version is required to order bonds online?
You will need to have an Internet browser that supports 128-bit encryption.
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Q: How do I pay for the bonds I order online?
You have two payment options for ordering bonds online:
- by electronic bill payment through the financial institution you bank with, provided that institution offers this service; and
- by cheque.
Your payment must be for the total amount of your purchase. Please note that instalment payments will not be accepted. For electronic bill payment, select "Canada Savings Bonds" from the list of billers from your banking institution’s telephone or online banking service and use as the account number your Client Reference Number that is generated when you confirm your bond order. You must make payment no later than on the issue date of the bonds (i.e., the first of the month or your order will be cancelled).
A confirmation number will be displayed for each purchase upon completion of a bond order. For payment by cheque, please write the confirmation number(s) on your cheque. You may postdate your cheque to the issue date of the bonds (i.e., the first of the month). We must receive payment within 10 days of the issue date or your purchase will be cancelled. If you are purchasing bonds, both within and outside The Canada RSP, separate payments must be made for each with the corresponding confirmation number.
Q: What is electronic bill payment?
The bill payment option allows you to pay for the bonds you ordered through your financial institution’s online or telephone banking bill payment options. Select “Canada Savings Bonds” from the list of billers. Use as the account number your Client Reference Number that is generated when you confirm your bond order.
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Q: How do I pay bills in online banking?
You first need to sign up for your financial institution’s online or phone banking services. After that you need to set up the billers to whom you would like to authorize payments. In this case, you would select “Canada Savings Bonds” from the list of payees or billers.
Q: How do I add bills for payment using online banking?
Generally, to add a bill for payment you go to the bill payment page with your online banking institution that allows you to register bills for payment through online banking.
While the steps for adding a bill for payment vary a little for each financial institution, generally you:
- Select “Canada Savings Bonds” from the list of billers or if your financial institution has a search feature, search for this name.
- You will then be prompted to enter your account number for the biller you are adding. Put in your Client Reference Number. This Client Reference Number is generated when you confirm your bond order.
- You then add this biller to a memorized list of billers that you may access at a later date.
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Q: How do I use the online bill payment option?
Your financial institution will guide you through this process. It is very straightforward. In general however, you:
- Select “Pay a Bill”.
- From the "Pay From" drop-down menu, select the account from which you wish to make the payment.
- From the "Pay To" drop-down menu, select “Canada Savings Bonds” from your personal list of bills you have set-up for payment inside online banking.
- Enter the amount of the payment you want to make in the Amount box.
- You will be asked to confirm your payment request.
- Be sure to pay by the payment due date allowing for the necessary time for the payment to reach us.
Q: How do I get a receipt for my payment using the online bill payment banking session?
We suggest that you record the reference number and date of your payment, as it will be useful if you have any questions about the bill payment at a later date. Most services allow you to print a confirmation of payment.
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Q: How do I pay using the telephone bill payment option?
You first need to sign up for your financial institution’s telephone banking services. After that you need to set up the billers to whom you would like to authorize payments. In this case, you would select “Canada Savings Bonds” from the list of payees or billers.
The financial institution you bank with can walk you through the rest.
Q: How secure is ordering bonds online?
We have gone to great lengths to ensure your confidentiality and security. We use several layers of robust, state-or-the-art security methods including secure server, encryption, firewalls and timed log outs, among others, to ensure your personal and financial information is kept private and confidential.
With respect to your online ordering sessions, as an extra measure of security, confirmation numbers are issued with every transaction. To protect your Client Reference Number, password and online ordering session, we employ state-of-the-art encryption technology. Encryption is presently the most effective way to achieve data security. That is why your Internet browser must be compatible with 128-bit encryption in order to access online bond ordering.
Encryption is the process of scrambling data into an unreadable format that is more secure for transmission over the Internet. Very similar to secret code, encryption takes your data and uses complex mathematical equations called algorithms to scramble the information into an unreadable format called ciphertext. The ciphertext is impossible to read without having a key to unscramble the information to its original form.
Information is scrambled or encrypted at the client side (your browser) and then unscrambled or decrypted at the server side (Bank of Canada). The two most common levels of encryption are 40-bit and 128-bit and they have both been implemented commercially on popular Internet browsers.
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Q: What can I do to ensure my security during online bond ordering sessions?
Protect your password: your password, along with your Client Reference Number is the access key. Make sure that you protect your password by memorizing it and not revealing it to anyone. Always choose unique passwords that include both letters and numbers and don't alternate between passwords. Do not choose passwords that are obvious like names, birthdays or telephone numbers that might be easy for others to figure out.
Clear your browser's cache: most browsers cache images or files that you have viewed and store them locally to improve performance. It is important to clear your browser's cache after online sessions to avoid someone being able to view your personal information later. Some browsers have an option to not cache encrypted sessions.
Remember to properly log out after an online bond ordering session. The Canada Savings Bonds online bond ordering sessions have a log out option on the menu bar clearly indicated on the left hand side of the screen. If you forget, we will automatically log you out after a 15-minute period has elapsed with no activity.
Q: When do I have to pay?
For electronic bill payment, you must make payment no later than on the issue date of the bonds (i.e., the first of the month) or your order will be cancelled.
For payment by cheque, you may postdate your cheque to the issue date of the bonds (i.e., the first of the month). We must receive payment within 10 days of the issue date or your purchase will be cancelled.
In both cases, your payment must be for the total amount of your purchase. Please note that instalment payments will not be accepted.
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Q: What if I experience problems completing the order?
If you have any difficulties placing an online order or have any questions, a client service representative is available at 1 888 996-8899, Monday to Friday, from 8 am to 8 pm, Eastern Time to provide you with assistance.
Q: Which financial institutions currently offer the electronic bill payment option for Canada Savings Bonds ordered over the Internet?
Financial institutions currently offering the online and telephone bill payment option: Royal Bank, TD Canada Trust, Bank of Montreal, Scotiabank, CIBC, President’s Choice Financial, Laurentian Bank, HSBC, National Bank, Credit Union Central of Ontario Limited, Credit Union Central of British Columbia and Alberta Treasury Branches.
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