Bank Act (S.C. 1991, c. 46)

Marginal note:Cashing

• 627.25 (1) A member bank shall, at any branch in Canada at which it, through natural persons, opens retail deposit accounts and disburses cash to customers, cash a cheque or other instrument on the request of a natural person made there in person if

  • (a) the cheque or other instrument is drawn on the Receiver General or on the Receiver General’s account in the Bank of Canada or in any bank or other deposit-taking Canadian financial institution incorporated by or under an Act of Parliament, or is any other instrument issued as authority for the payment of money out of the Consolidated Revenue Fund;

  • (b) the person presents to the member bank

    • (i) the documents referred to in subparagraph 627.17(1)(a)(i),

    • (ii) one piece of identification that is issued by the Government of Canada or the government of a province and that bears the person’s signature and photograph, or

    • (iii) any document from a reliable source that indicates the person’s name and date of birth, if the person’s identity is also confirmed by a customer in good standing with the member bank or by a natural person of good standing in the community where the branch is located;

  • (c) the amount of the cheque or other instrument is not greater than the prescribed amount; and

  • (d) any prescribed condition is met.

• Marginal note:Non-application

  (2) Subsection (1) does not apply

  • (a) if there is evidence that the cheque or other instrument has been altered in any way or is counterfeit;

  • (b) if the member bank has reasonable grounds to believe that there has been illegal or fraudulent activity in relation to the cheque or other instrument; or

  • (c) in any prescribed circumstances.

• Marginal note:Refusal to cash

  (3) A member bank that refuses to cash for a natural person a cheque or other instrument that meets the conditions set out in paragraphs (1)(a), (c) and (d) shall provide the person with

  • (a) a written statement that indicates that it will not be cashing the cheque or other instrument; and

  • (b) the information referred to in paragraphs 627.65(a) to (c).