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4 months’ notice
- A federally regulated financial institution, like a bank, may be planning to close a branch or end certain activities. In this case, they must give you 4 months’ notice. You must receive this notice about all retail deposit-taking branches.
www.canada.ca/en/financial-consumer-agency/services/banking/branch-closures.html
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Your right to be notified about a branch closure. A federally regulated financial institution may be planning to close a branch where you’re a customer. In this case, they must inform you in advance.
Amount of notice you must get when your branch is closing. A federally regulated financial institution, like a bank, may be planning to close a branch or end certain activities. In this case, they must give you 4 months’ notice. You must receive this notice about all retail deposit-taking branches. A retail deposit-taking branch is one where:
Financial institutions are required to inform the Commissioner of a branch closure four (urban branches) or six (rural branches) months ahead of the closure. Financial institutions are strongly encouraged to hold their meeting at that time.
Sep 14, 2020 · Banks, building societies and credit unions looking to close a branch, ATM or convert a free cash machine into a paid for service, must inform the regulator and give users at least 12 weeks’ notice.
Mar 21, 2024 · Branches and offices being converted into RBC locations will reopen on April 1. The brick-and-mortar transformation that will take shape at HSBC is one of the earliest manifestations of the expansion of RBC’s empire. RBC announced plans to purchase HSBC Bank Canada in November 2022.
Jul 24, 2024 · The Financial Conduct Authority said new rules will come into effect from September 18.
Jan 27, 2021 · Notify Your Customers: Banks must communicate regularly with customers impacted by a branch consolidation or closure, including conveying information about key dates and events that will impact customer-facing operations.
