Branch closures: know your rights

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. They must also do so if they plan on ending certain activities, like opening retail deposit accounts, such as chequing or savings accounts, or disbursing cash. This is to give you time to look for and find other service options.

The requirement applies to branches where they open retail deposit accounts and distribute cash to customers through an employee.

A federally regulated financial institution must provide 4 months notice if they plan to close a branch:

A federally regulated financial institution must provide 6 months notice if:

Your right to information about a branch closure

The notice must contain:

Learn more about branch closure meetings.

When these rights apply to you

These rights apply when you’re dealing with a federally regulated financial institution like a bank or federal credit union.

Find out if your financial institution is federally regulated.

Learn more about how your banking rights are protected.

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