Regulatory Alerts2015-01-04
Added
Clarification on Types of Accounts and Conditions Under Which Customer Signature Is Not Required
The Supervisor of Banks clarifies that customer signatures are not required for specific agreements, including general terms of business, current account agreements opened online, fixed-term deposits exceeding one year, and telephone instructions. This exemption applies provided the customer confirms on the banking corporation’s website that they have been given the opportunity to view the agreement. The circular is effective from the date of its publication.
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