This script discusses your bank account accounts and related service charges, NSF cheques, bank errors, stolen PIN numbers, and joint accounts.

People usually don’t think much about their relationship with the bank. But the important details are always set out in writinga written agreement. When you open a bank account, you must typically have to sign a number of some forms. One form is usually a signature card, so that the bank has a record of your true signature. For a chequing account, you have to must sign a form to obtain personalized cheques. But at least one of the documents you sign contains has the terms and conditions by which details (that you agree to let ) on how the bank will operate your account.

==Different banks use different forms of agreementagreements==Most of the agreements contain have similar terms, but the only way to find out exactly what you’ve agreed to is to get a copy of the document from your bank and to read it.

No. If you have a personal chequing account, you expect your bank to honour your cheques when you write them. But unless you’ve arranged in advance for overdraft privileges, (where the bank will honour your cheque even if you don’t have enough money in your account to cover it) your agreement likely says that the bank only has to must honour a cheque only if there’s enough money in your account. And if the bank chooses to allow lets you to go into overdraft, they can charge you interest at a rate determined by the bankthey set. If you’ve arranged for overdraft privileges, make sure this is recorded in writing. Note that if If you pay for goods or services and your bank doesn’t honour your cheque because you don’t have enough funds in your account, you it could end up with a poor hurt your credit rating.

==What about Are there rules on service charges?==Service charges vary a lot between banks and accounts. Depending on your account, you may be charged for the cheques you write and for other services that the bank provides. For example, every time you go into overdraft, you may have to pay a certain minimum charge in addition to an overdraft fee, plus interest. Or you may have to pay a service charge every time you use a bank machine or ATM (automated teller machine). Often banks will have package deals with a set monthly charge for a certain number of transactions. They may also waive fees if you keep a minimum balance in your account. While your account agreement likely doesn’t say specifically what those cost service charges are, it probably says that you agree to be bound by the bank's general schedule of rates and that the bank may debit your account for any charges that the bank may establish sets from time to time.

Now, when When you open an account, banks must tell you what their service charges are, . The charges are normally listed in their information brochures and posted on their websites, too. So if you’re looking to open a bank account, shop around between banks to find the account option that best suits your needsfor you. But remember that most Most banks will change these from time to timetheir charges periodically, and if your agreement permits, this will be done without notice to you. Even if your agreement requires the bank to notify you about changes in your service charges, the bank can generally do this by mailing a notice to your address, and they don’t need your consent to change these charges.

==What about “NSF” NSF cheques?==If someone pays you with a cheque written on another bank account, normally you take that cheque to your own bank to cash or deposit it. Or you deposit it using your phone. Your bank will typically accept cheques drawn on from other banks , credit the money to your account, and present them the cheque to those other banks for payment – or payment—or to be "cleared," as it's called. Unfortunately, sometimes a cheque doesn’t clearbecause there’s not enough money in the account, and it’s returned to your bank stamped "''NSF" '' or "''Not Sufficient Funds''.”

Your agreement with your bank says that the bank can then debit your account for the amount of the an NSF cheque – whether or cheque—even if you have not you’ve cashed it or received withdrawn the fundsmoney. Even That’s true even if your bank is slow and ignores the normal rules about clearing cheques in a timely fashion, it’s usually the customer who gets stuckpromptly. In rare cases, where the It’s possible for your bank's delay results in to cause a cheque not clearingto clear: for example, there was enough money in the account to cover the cheque when it was written but your bank delays in presenting it to the other bank to be cleared. By the time your bank does that, there’s no longer enough money in the account. Rarely, in that case, you may have a claim against your bank, but even this may be limited or denied by the terms of your agreementwith the bank.

Banks have their own policies on whether you can re-deposit an NSF cheque (and if so, how many times).  ==Read Check your bank statements carefully==The first that you may learn of a cheque returned “NSF” NSF may be from your bank statement. Also, in your agreement with the bank, you promise to be responsible for making sure that the statement is true.

You have a certain period of time to point out that mistake to the bank – normally bank—normally 30 days from the date the bank mails you your statementor posts it online. If you don't point out the mistake, you’re considered to have agreed that the balance shown in your statement is correct.

The only usual exceptions are if the bank makes a mistake in your favour by putting too much mistakenly puts money into your account. Then, or if the mistake 30-day rules does not apply. Another exception is the result of if someone forging a forges your signature on your cheque, in which case . The 30-day limit does not apply and you should take immediate steps to immediately notify the bank and make a claimfor the lost money.

==If a mistake is made, you have to must prove it==For this reason, always get a receipt for any deposit that you make, and keep your cancelled cheques and bank statements for a reasonable period of time. If you use a bank machine or ATM, keep the receipts provided by from the machine so they can be compared against to compare them with your account statements. This way, you’ll have a record of all of the transactions in your account. Remember that any Any deposits and transactions made at a bank machine on a weekend or holiday are processed on the branch’s next banking day.

Note that ATM receipts aren’t considered proof of actual deposits to your account. But they are better than nothing Only a bank teller receipt or copies of the actual deposited cheques are accepted as evidence of a deposit.

You normally won’t be responsible for the unauthorized use of your card and/or PIN after you’ve advised told the bank about the loss or theft. But you must not have “knowingly contributed” to the unauthorized use, for example, by lending your card to a friend to withdraw money on a particular occasion. And you must have been careful to keep your PIN separate from your card.

For more information about bank cards, refer to check script [[Buying Goods on Credit, Credit Cards and Credit Bureaus (Script 246)|246]] on “Buying Goods on Credit, Credit Cards and Credit Bureaus”Bureaus.”

If you have a joint account with one or more peoplesomeone, depending on how the signature card is signed, you agree that the bank can pay out funds on a cheque or withdrawal signed by any of the account holders. This means that if the account is overdrawn, the bank can demand repayment of the full amount from anyone who has signed the signature card. If you end up paying more than your share of the overdraft, then it’s up to you, not the bank, to get the difference from the other account holders.

==What happens if you don’t use your account?==The federal ''[http://laws-lois.justice.gc.ca/eng/acts/B-1.01/index.html Bank Act]'' says that if you haven’t used your account for ten 10 years or more, any money left in it must be transferred to the [http://www.bankofcanada.ca/ Bank of Canada]. For more information on this point, call 1.800.303.1282 and ask for "“unclaimed balances” or click on “[http://www.bankofcanada.ca/unclaimed-balances/ Unclaimed Balances" ]” or email [mailto:ucbalances@bankofcanada.ca ucbalances@bankofcanada.ca].

==What should you do if you have a complaintagainst a bank?==First, discuss the problem with your bank’s branch manager. If you’re not satisfied with the response, contact the bank’s head office. You can get a contact name and telephone number by calling the [http://www.osfi-bsif.gc.ca/Eng/Pages/default.aspx Office of the Superintendent of Financial Institutions ] (OSFI) at 1.800.385.8647. OSFI is the federal government agency that supervises and regulates Canadian banks. Their website is If you’re still dissatisfied, you can contact the [httphttps://www.osfi-bsif.gcobsi.ca www.osfi-bsif.gc.ca]. If you’re still dissatisfied, you may contact the / Ombudsman for Banking Services and Investments ] at 1.888.451.4519. Their website is [http://www.obsi.ca www.obsi.ca]. Of course, if you have a legal problem, you may need to consult see a lawyer.

==Where can you find more More information?==*See the manual [http://www.legalaid.bc.ca/publications/pub.php?pub=17 Consumer Law and Credit/Debt ] Law] published by the Legal Services Society, BC and available for free on their website at [http://www.legalaid.bc.ca www.legalaid.bc.ca/ Legal Services Society]. To find it, click “Our Publications” then under “I want to find a publication by subject,” click “Consumer & debt”. This manual is for paralegals, legal information counsellors, and lawyers with clients who have consumer/debt problemsof BC.*The Check the federal ''Bank Act'' is available online at [http://laws-lois.justice.gc.ca/eng/acts/B-1.01/index.html Bank Act]''.

[updated November 20142016]