Voluntary Codes of Conduct ‡

 

Voluntary Codes of Conduct and Public Commitments

As part of Canadian Tire Banks' ("CTB's") commitment to ensure our customers' protection, our Bank is committed to a number of voluntary codes of conduct and public commitments designed to protect the interests of consumers. These codes and commitments establish the standards of service our clients can expect when they do business with CTB. If you have a complaint regarding a potential violation of a code or commitment please let us know. View more information on our Complaint Resolution Process. The Financial Consumer Agency of Canada (FCAC) monitors our adherence to Codes of Conduct and Public Commitments listed below. Contact the FCAC.

Code of Conduct for the Debit and Credit Card Industry in Canada is a code of conduct that sets principles for business practices related to the issuance and acceptance of payment cards and operation of payment card networks. Visit this Code of Conduct on the Canadian Bankers Association website.

Code of Conduct for Authorized Insurance Activities outlines industry standards for bank representatives offering authorized insurance products such as credit, travel and personal accident insurance products in Canada. Visit this Code of Conduct on the Canadian Bankers Association  website.

Principles of Consumer Protection for Electronic Commerce is a guide to protecting customers when conducting transactions over open networks, including the internet. Visit this Code of Conduct on the Canadian Bankers Association website.

Commitment on Modification or Replacement of Existing Products or Services provides customers with assurances related to the modification or replacement of existing products and services. Visit this Commitment on the Canadian Bankers Association website for more information.

Guidelines for Transfers of Registered Plans contains information on what to expect and where to get help when transferring a registered savings plan (RSP) between financial institutions. Visit these Guidelines on the Canadian Bankers Association website for more information.

MasterCard® – Zero Liability is a commitment to provide protection against fraudulent card use. Visit this Commitment on the MasterCard website.

Visa* Zero Liability is a commitment to provide protection against fraudulent card use. Visit this Commitment on the Visa Canada website.

Visa* E-Promise offers online shoppers an alternative method to settle disputes with merchants. Visit this Commitment on the Visa Canada website.

On-Line Payments outlines consumer and industry responsibilities related to the use of online payments systems in Canada. Visit this Commitment on the Canadian Bankers Association website.

Monthly Credit Card Statements - Canadian Tire Bank will not charge consumers a fee to receive their regular monthly credit card statements. Please be advised that Canadian Tire Bank does charge consumers a fee should they request an additional or duplicate copy of their monthly credit card statement and will continue to do so. This fee is disclosed to consumers as part of the disclosures required under the Cost of Borrowing Regulations.

Power of Attorneys (POAs) and Joint Deposit Accounts (JDAs)

Commitment on Powers of Attorney and Joint Deposit Accounts is a commitment by banks to make information about POAs available to customers who want to give someone they appoint ("Attorney") the authority to do banking on their behalf. The Commitment also sets out information that the banks will make available to their customers about JDAs. For more information on this Commitment, please visit the Canadian Bankers Association website.

CTB cannot provide legal advice to customers about POAs or JDAs.

1. Does CTB offer its own standard POA template?

No, CTB does not offer its own standard POA template. CTB will accept a valid POA if it complies with the statutory requirements of the province/territory where it was executed. Please note CTB will only accept an original or notarized copy of a POA. A photocopy, facsimile or scanned copy of a POA will not be accepted.

2. Where can I obtain more information on the benefits and risks associated with POAs and JDAs?

To find out more on the benefits and risks associated with POAs and JDAs, please visit the following link produced by the Federal/Provincial/Territorial Ministers Responsible for Seniors: "What every older Canadian should know about Powers of Attorney (for financial matters and property) and Joint Bank Accounts”.

3. What are CTB’s minimum requirements for a POA?

CTB will only accept an original or notarized copy of a POA. CTB will not accept a photocopy, facsimile or scanned copy of a POA. Please mail the original or notarized copy of the POA to CTB at the following address:

PO Box 2000, Station Main
Welland, ON
L3B 5S3

4. How long will it take for CTB to review a POA?

Once CTB receives a POA, CTB will review it to ensure it:

1) complies with the statutory requirements of the province/territory where it was executed; and

2) is an original or notarized copy. If further information is required, CTB will contact the customer and/or appointed Attorney and advise what additional information is required.

CTB aims to review all POAs within approximately thirty (30) business days; however in some situations a further review may be required. If there are any delays in the review, CTB will inform the customer and/or appointed Attorney and advise of the expected timeframe as to when the review will be completed.

Please note CTB reserves the right at its discretion to not accept a POA or an appointed Attorney’s instructions.

5. How do I set up a JDA or change an account in my name to a JDA [applicable to High Interest Savings Account and Guaranteed Investment Certificate, not applicable to Tax Free Savings Account]?

If you are setting up a JDA, or would like to change your account to a joint account, please send in a joint cheque with both signatures, or two separate cheques (one from each of you) to CTB at the following address:

PO Box 2000, Station Main
Welland, ON
L3B 5S3

6. If I have any questions or concerns who do I contact?

If you have any questions, please do not hesitate to contact us at 1-866-681-2837.

If you have any concerns or would like to make a complaint, we encourage you to follow CTB’s Complaint Resolution Process.

Mastercard® is a registered trademark of Mastercard International Incorporated, used under licence.

* Visa Int./Lic. User.

‡Pertains only to retail banking products provided by Canadian Tire Bank.