Seniors have always been an important and growing customer base for banks in Canada. Banks are committed to serving all segments of the Canadian population and responding to customers’ changing circumstances as they go through different stages of life.
Banks support the creation of the Code of Conduct for the Delivery of Banking Services to Seniors. The principles outlined in the Code align with and reinforce existing initiatives and resources used by banks and their staff to respond to the unique, evolving needs of senior customers. This includes:
- Accounts and services that accommodate seniors' needs (including low-fee and no-fee accounts offered by several banks);
- Tips on how to avoid financial abuse, frauds and scams;
- General information on Powers of Attorney, joint accounts and retirement planning;
- Financial literacy seminars for seniors in communities across Canada; and
- Staff training and communications tools.
The Code reinforces banks’ longstanding commitment to keeping seniors and their money safe and ensuring inclusive, responsive and trusted access to banking products and services.
Banks in Canada are already committed to several codes of conduct that have, over the years, helped improve the delivery of banking products and services to Canadians and their communities. To learn more, see: cba.ca/voluntary-commitments-and-codes-of-conduct