Promotional toolkits for financial literacy and consumer protection
The Financial Consumer Agency of Canada developed the following digital content, including banners, infographics and videos, to help individuals and organizations promote financial literacy and consumer protection in Canada. Check back regularly for more promotional products.
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Financial consumer protection
The following products promote the new and enhanced protections for bank customers that are part of Canada’s new Financial Consumer Protection Framework, including new electronic alerts from banks. The new and enhanced protections will take effect on June 30, 2022.
Text version: New protections for bank customers
New protections for bank customers
What you should know
Starting June 30th, you will benefit from new and enhanced protections when dealing with your bank.
Enhanced disclosures
Your bank will have to provide you with more information about your day-to-day banking so you can make informed and timely decisions.
For example, you will receive:
- Electronic alerts to help you manage your accounts and avoid certain fees
- Timely reminders to renew or cancel your products or services
- Separate agreements for optional products and services to help you understand them better
Enhanced complaint- handling procedures
Your bank will have to strengthen its complaint-handling procedures so your issues are resolved faster.
For example, your bank will be legally required to deal with complaints within 56 days
Other measures to better protect you
Your bank will have to take further actions to better protect you and meet higher standards for sales practices.
For example, your bank will have to:
- Offer and sell products or services that are appropriate for your needs
- Take additional steps to avoid providing misleading information or applying undue pressure when selling you products or services
- Take additional steps to make sure they get your express consent for each product or service you buy
These protections are part of Canada’s new Financial Consumer Protection Framework.
Learn more at canada.ca/fcac
Text version: New electronic alerts from your bank
New electronic alerts from your bank
As of June 30, you will receive new alerts via email, text or app notification
The alerts:
- will let you know when your bank account balance or available credit on your credit card or line of credit falls below a certain amount
- will tell you what charges or fees may apply, and how to avoid them
- will be sent automatically, but you can change or cancel them
The alerts will help you manage your accounts and avoid certain fees
Text version: New electronic alerts from your bank
New electronic alerts from your bank
As of June 30, you will receive new alerts via email, text or app notification
The alerts:
- will let you know when your bank account balance or available credit on your credit card or line of credit falls below a certain amount
- will tell you what charges or fees may apply, and how to avoid them
- will be sent automatically, but you can change or cancel them
The alerts will help you manage your accounts and avoid certain fees
Text version: Enhanced complaint-handling procedures for bank customers
Enhanced complaint-handling procedures for bank customers
Starting June 30th, your bank will have to strengthen how it handles complaints.
Your bank will have to:
- Deal with complaints within 56 days
- Help you navigate their complaint-handling procedures to make sure you understand the steps involved
- Avoid using misleading terms, such as ombudsperson, that suggest bank employees who handle complaints are independent
These measures will help get your issues resolved in a more timely and effective way.
These protections are part of Canada’s new Financial Consumer Protection Framework.
Learn more at canada.ca/money
Videos
- New protections for bank customers - YouTube
- New electronic alerts from your bank - YouTube
- Enhanced complaint-handling procedures for bank customers - YouTube
Financial literacy
The following products promote the National Financial Literacy Strategy and the 5 key consumer building blocks that lead to greater financial resilience.
Text version: 5 Steps to build your financial resilience
5 steps to build your financial resilience
Anyone can be financially vulnerable, regardless of income, background, or education
- Keep track of your expenses
- Take control of your debt
- Save money for the future
- Build your knowledge at the right time
- Navigate the financial marketplace with confidence
Understand your finances to confidently face challenging times and an increasingly digital world
Make change that counts!
Text version: Keep track of your expenses
Keep track of your expenses
Make a budget to manage your expenses and stick to a spending plan.
Text version: Take control of your debt
Take control of your debt
When you borrow money, understand how much it will cost in the long-term and make a plan to pay it back.
Text version: Save money for the future
Save money for the future
Save for your goals and prepare for unexpected expenses or financial setbacks.
Text version: Build your knowledge at the right time
Build your knowledge at the right time
Learn about a financial product or service at the right time to make better decisions.
Text version: Navigate the financial marketplace with confidence
Navigate the financial marketplace with confidence
Compare products and services from different providers and understand your options.
Budget Planner
Display the Budget Planner on your website
FCAC is looking for organizations interested in incorporating a widget of the tool to their website. For more information, email us at FCACTools.OutilsACFC@fcac-acfc.gc.ca.
Text version: Manage your money with a budget
Manage your money with a budget
The Budget Planner is a free interactive tool that provides personalized tips and suggestions to improve your financial situation.
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