Prohibited banking conduct: know your rights

By law, banks, and anyone representing them, must not:

In general, undue pressure means any pressure that could reasonably be considered excessive or persistent in the circumstances.

They can’t make you buy a product or service from them as a condition to get another one. For example, if you apply for a mortgage, they can’t make you buy another product or service as a condition to get the mortgage.

Banks must disclose the obligation listed above to their customers and the public by displaying it prominently and making it available:

Banks can offer you a product or service on better terms or conditions if you buy another one of their products or services. This also applies to anyone who represents them.

For example, you may get a loan from a bank and open a Registered Retirement Savings Plan (RRSP). They might offer you a better rate on your loan if you also buy your RRSP from them.

When these rights apply to you

These rights apply when you’re dealing with a bank, authorized foreign bank or federal credit union.

Learn more about how your banking rights are protected.

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