This Agreement sets out the terms and conditions of the relationship between us (Concentra Bank) and you (our customer) relating to your Neo Savings Account and the services we provide to you through our service provider, Neo. Please read this Agreement carefully. By submitting your Application, opening an Account, or using the Services, you accept and agree to obey the terms of this Agreement. If you have any questions about this Agreement, your Account, or the Services, please contact Member Support or refer to www.neofinancial.com.
Digital banking services in relation to your Account can be accessed through the Neo Platform. Some Services described in this Agreement may not be offered by us at this time or in the future.
A - Definitions
This Part A lists the definitions for terms that we use in this Agreement.
Account - the Neo Savings Account, a digital personal bank account earning daily interest on the closing balance.
Agreement - your Application, the terms and conditions in this document, the Deposit Disclosure, and any additional agreements or terms for particular services we provide you.
Application - the digital application you complete and submit through the Neo Platform when you apply for your Account.
Bank - Concentra Bank and its subsidiaries and affiliates.
Bill Pay – the service accessed through the Neo Platform allowing for payment to payees by electronic transfer of funds from your Account to a payee’s account with other financial institutions.
Central 1 - Central 1 Credit Union.
Credentials - your login ID, password, name, account number or other means by which Neo Platform will verify your identity, and any other method which allows you access to the Neo Platform.
Deposit Disclosure - the disclosure statement, rate & fee schedule required by law for our deposit products provided to you when you open your Account and found on the Neo Platform. The disclosure shows interest information and fees for the Account. Some deposit products described in the disclosure may not be offered by us at this time or in the future.
Documents - any records or other documents that we provide to you in connection with your Account or the Services, including the documents listed under section G-3 of this Agreement. This includes your transaction history and all other records on the Neo Platform.
Electronic Document - data that is recorded or stored on any medium by a computer system or other similar device and that can be read or perceived by a person or a computer system or other similar device. It includes a display, print-out or other output of that data.
Instrument - a cheque, promissory note, bill of exchange, order for payment, securities, cash, coupon, note, clearing item, credit card slip for processing, other negotiable instrument, or item of deposit or withdrawal of a similar nature and its electronic equivalent, including electronic debit instructions.
INTERAC®† e-Transfer Service – the service offered by INTERAC® e-Transfer (or any successor thereof) and accessed through the Neo Platform to effect INTERAC® e-Transfer from the Account.
†® Trade-mark of Interac Inc. Used under license.
Losses - all damages, liabilities, losses, claims and costs of any nature, including fines, penalties, and all expenses reasonably incurred in the defense of any claims.
Member Support - Neo’s support centre accessible by telephone at 1-855-636-2265 or by email at firstname.lastname@example.org.
Neo - Neo Financial Technologies, Inc., being our service provider as of the date of this Agreement, or any other service provider selected by us in our sole discretion.
Neo Platform - the digital banking platform developed by Neo (including mobile applications and online portals) that provides the Services.
Participating Financial Institution - a financial institution participating in INTERAC® e-Transfer Services.
Remote Deposit Service - the remote deposit capture service accessed through the Neo Platform.
Rules - the published rules and standards of Payments Canada as amended from time to time.
Services - the services that may be provided by the Bank though the Neo Platform, and may include Remote Deposit Capture, Bill Pay, INTERAC® e-Transfer, electronic transfer and any other service provided by Neo through the Neo Platform from time to time.
We, us and our - refers to the Bank.
You, your and yours - the customer named in the Application or, for joint Accounts where two or more persons are named in the Application, any or all of those persons.
B - Your Account
To open and maintain an Account with us, you must be a Canadian resident with a permanent Canadian address, and you must be at least 18 years of age. Residents of Quebec are not currently eligible for an Account.
Currency of your Account
Your Account will only be operated in Canadian Dollars.
How you make deposits to your Account
Customers may deposit money to their Account through the means provided by the Neo Platform, which may include but is not limited to electronic transfer, Remote Deposit Service, INTERAC® e-Transfer, Linked Accounts or in any other manner offered by us through the Neo Platform at the time of deposit. We will not accept cash for deposit and will not be responsible for funds lost in transit or in standard mail. We will not accept paper cheques, except through the use of Remote Deposit Capture. We will not accept wire transfer deposits. All deposits are subject to verification of the source of funds and to our policies on the acceptance of deposits. We may change those policies from time to time without notice to you. We may refuse to accept any deposit to your Account in our sole discretion.
Electronic Transfer - Electronic transfer requests may be made at any time after account opening through the Neo Platform and by other methods made possible by us from time to time. It typically takes 1-2 Business Days for funds to arrive in your Account after you make the electronic transfer request. Funds transfer arrival dates are not promised or guaranteed. Your money may be subject to a hold period after it has arrived in your Account. Please see “Holds on the money in your Account” in section B-11 below for further information. You are responsible for ensuring that there are enough funds in your external account required to cover any electronic transfers you may send. You will still be responsible to pay the fees outlined in the Deposit Disclosure for any transfer that is not processed due to insufficient funds. You will also be responsible for any fees that may be charged by the external account. In cases where electronic transfers cannot be processed with an external account, the transaction request will be reversed.
INTERAC® e-Transfer - You may receive money for deposit into your Account using the INTERAC® e-Transfer services from any person who has a bank account at a Canadian financial institution. When you correctly answer the security question that they provide to you via email link or mobile phone number, the funds will be transferred directly to your Account. You must keep the answer to the security question confidential and use it only when you claim your INTERAC® e-Transfer . In the event that you have the Autodeposit feature enabled through INTERAC®, funds will be automatically deposited in your account without the need for a security question.
Remote Deposit Service - We may, through the Neo Platform, offer Remote Deposit Service for deposit of eligible paper cheques or bank drafts to your Account. You must endorse the cheque or bank draft before you take the picture and deposit it. You must take a picture of the front and back of the cheque or bank draft with your mobile device and transmit it to us. When you capture a digital image of a cheque or bank draft, the cheque or bank draft must be in the standard format approved by Payments Canada. Your image must include all information we require, including the date, drawee institution, payee, amount in words and figures, signature of the payor, cheque or bank draft number, and magnetic ink character recognition information. All of the information must be readable in the image as we, in our sole discretion, determine. You will only create images from the original cheque or bank draft.
You will only deposit a cheque or bank draft that is payable to you directly, drawn on a Canadian financial institution and is dated not more than 6 months prior to the date of deposit. We will not accept cheques or bank drafts that are payable to someone else, to two people jointly or endorsed to you. You will not use the Remote Deposit Service for illegal or fraudulent purposes. You will not take any action which may damage the security or integrity of any of the Remote Deposit Service, or cause harm, or threaten to cause harm, to any other user of the Remote Deposit Service. We reserve the right to restrict, suspend or cancel your use of Remote Deposit Service at any time, with or without notice to you. We may set limits on the number and amount of deposits, and we may change those limits without notice to you. You will not deposit a cheque or bank draft that is post-dated, stale-dated, or altered in any way, or that has previously been deposited.
Your cheque or bank draft is only considered received by us when the funds appear in your Account. Your money may be subject to a hold period after it has arrived in your Account. Please see “Holds on the money in your Account” in section B-11 below for further information. After successful deposit, you must write “deposited” across the front of the cheque or bank draft. You will keep the cheque or bank draft for 90 days, and provide it or a replacement image to us if we ask for it. You will destroy the cheque or bank draft within 30 days after the 90 day period.
We reserve the right to reject any image sent. We are not responsible for any images that we do not receive. Receipt of confirmation does not mean that the transmission was error-free or complete. If the deposit amount does not match the amount in the image, we may adjust your Account to reflect the amount in the image. You will be responsible for any costs to obtain a replacement cheque or bank draft, if required.
When you use Remote Deposit Service, you are acting as our agent for the limited purpose of creating the image. You will not pass this role on to anyone else. Any image that you create will be treated for legal purposes just as if we had created the image ourselves. Each image we accept will be treated as an eligible bill under the Bills of Exchange Act (Canada) and each image is subject to the Payments Canada rules. We may from time to time apply additional rules governing the cheques and bank drafts we accept, and your use of Remote Deposit Service. Each image received by us will have the same effect as if the original cheque or bank draft was delivered to us for deposit.
We use Central 1 as a service provider for our Remote Deposit Service. You agree that Central 1 is entitled to the same protections from liability, and limitations of liability, as we have in this Agreement. You give us, and to our clearing agents (including Central 1), your consent and the right to provide the Remote Deposit Service, and to deposit and clear eligible cheques and bank drafts using the images and associated data (which may include your personal information).
Returned Instruments - If you deposit a cheque or bank draft to your Account, we may provide your Account with immediate payment, and attempt to collect payment on that cheque or bank draft. If the Instrument is returned to us unpaid, we may reverse the payment and any interest paid on that credit. The fees set out in our Deposit Disclosure will apply. Anyone we hire (such as a financial institution or courier) to effect the collection of an Instrument will be deemed your agent, not our subagent.
Chargebacks - We may charge your Account for any amount that we determine, in our discretion, was paid to your Account as result of an error or any unauthorized Instrument. This includes an error as a result of a material alteration or any forged, fraudulent, unauthorized, missing, or incomplete endorsement or signature, or for which we are unable to receive payment. You will also be responsible for any resulting loss we incur. This will include the amount of an Instrument payable to another person which is missing endorsements, or which has forged, fraudulent, or unauthorized endorsements, and the amount of an Instrument for which any party is bankrupt or insolvent. This will also include any Instrument which is dishonoured, unpaid, or paid and later returned. We may make any other adjustments to your Account to give effect to the above. We are not responsible for any loss suffered by you or any other person resulting from a rejected or returned Instrument, the delayed or improper payment of an Instrument, or inaccurate information you provide us regarding an Instrument.
Interest on your Account
We pay interest on your Account. We calculate interest on the closing balance of funds held in an Account on a daily basis of 365/366 days. Interest will be paid to you monthly directly into your Account. For information on our current interest rates, you may refer to our Deposit Disclosure by visiting Neo’s website at www.neofinancial.com, contacting Member Support or accessing the Deposit Disclosure through the Neo Platform. The interest rates, and how we calculate and pay interest, may change. We may tell you about the change by any method described in “How we communicate with you” in section G-2.
You must immediately notify us of any errors, omissions or unauthorized transactions
You will promptly and carefully review your Documents through the Neo Platform. You confirm that you have the technical ability and resources to do this. You will immediately notify us in writing of any errors, omissions or unauthorized transactions in the Documents as soon as you discover them. The notice periods and release below apply even if your Document is delayed, you have not received it, you have failed to review it, or you have failed to review your Account transaction information from the Neo Platform, or by contacting Member Support.
You must tell us immediately, by contacting Member Support, if there is any suspicious, unusual, actual or suspected fraudulent or other unauthorized use of your Account or the Services, including if any unauthorized person has had, or may have had, access to any of the Services.
If we do not receive written notice from you of any errors, omissions or unauthorized transactions in your Documents within 30 days of the date of the disputed transaction, then you agree to accept the Account balances, transaction information, fees and Instruments in your Account, and you will not be paid for any amount that does not appear in the Account transaction information as shown in your Documents, even if a charge was not authorized or was based on a forgery or was otherwise wrongly or fraudulently made. You also agree that we will be released from any claim with respect to every transaction, fee, entry or Instrument in the Documents or posted to your Account, and any other claim related to your Account, including without limitation claims for negligence, conversion, breach of trust, breach of fiduciary duty, or breach of contract. This section does not prevent us from correcting amounts added to your Account by any error or a system malfunction.
If your Account becomes inactive or abandoned
If there have been no transactions in your Account and attempts to communicate with you have been unsuccessful, then we will designate your Account(s) as inactive. If there have been no transactions on your Account for a period of 10 years, then we will designate your Account as abandoned. We will attempt to contact you after 2 years, 5 years, and 9 years of Account inactivity. Service fees may be charged on Accounts which are inactive or abandoned. If there are insufficient funds in your Account to cover the service fees we are owed, we may close the Account without notice to you. Canadian dollar accounts which are abandoned will be subject to escheat (this means the deposits become the property of the federal government) in accordance with federal law and transferred to the Bank of Canada. You may reclaim those deposits by filing a claim with the Bank of Canada.
Errors and system malfunctions
If your Account is incorrectly charged due to any error or system malfunction for which we are responsible, we will return to you the amount charged. If your Account is incorrectly paid due to any error or system malfunction, you will pay us this amount. We will not unreasonably restrict you from your use of these funds while the matter is being resolved.
Compliance with laws
All transactions will be processed in accordance with applicable laws, the rules of Payments Canada and any foreign clearing associations, INTERAC ® rules, and any self-regulatory codes adopted by us, such as the Canadian Code of Practice for Consumer Debit Services.
We may restrict your access to or terminate your Account
We may in our sole discretion restrict your ability to transfer funds in your Account, freeze or close your Account, or suspend any services, with or without notice to, including in (but not limited to) the following circumstances:
Required by law or a regulatory authority;
We believe that you (or any of you, for a joint Account) are a victim of identity theft, or that any Account activity is suspicious, or possibly illegal, fraudulent or unauthorized;
Your Account or the Services were used for any fraudulent, unlawful, dishonest, or malicious purpose, or for any other activity unsatisfactory to us;
You have undermined the security, integrity, effectiveness, goodwill, or connectivity of any of the Services or Neo’s technology systems, including any activity that could cause harm to us, any other user, or any other person;
Your Account is operated in a manner that is unsatisfactory to us, including by a person whom we suspect may be engaged in financial abuse;
You (or any of you, for a joint Account) breach the terms of this Agreement or any agreement or policy applicable to your Account, or any other agreement with us;
We are notified that a claim has been made or may be made against funds in your Account;
There is any dispute or doubt as to who has the authority to operate your Account or use the Services;
You (or any of you, for a joint Account) have declared bankruptcy or become the subject of bankruptcy proceedings or a receiver is appointed over your assets;
You (or any of you, for a joint Account) have been declared, or we believe you might be, mentally incompetent or incapable of managing your own affairs, unless you have appointed an attorney or representative whose authority survives your mental incompetency or incapacity, or a legal guardian to manage your affairs;
You fail to act with respect and civility in dealing with us or our personnel, or we consider that your conduct toward us and our personnel is otherwise inappropriate;
Any of the above occurs in relation to a Linked Account; or
We have any other reason to restrict your ability to withdraw or transfer funds in your Account, or to freeze your Account, or to suspend any services.
We do not offer overdraft protection on the Account. However, if you have an open and active Neo Financial Mastercard® in addition to the Account, you may be entitled to an overdraft-like function on your Neo Financial Mastercard in accordance with the terms of such Mastercard.
Account terms and conditions
For each Account you open, and the Services used in relation to your Account through the Neo Platform, the following specific terms and conditions will apply. Certain Services will be provided by Neo and can be accessed through the Neo Platform.
Personal Banking Needs Only - You may only use your Account for your personal banking needs. If you use your Account to carry on a business, we may close your Account.
Sending Money via INTERAC® e-Transfer - You may send money electronically from your Account through the Neo Platform to any person who has a bank account at any Canadian financial institution using the INTERAC® e-Transfer services. You must provide their email address and/or mobile phone number, the amount to be sent, and a security question and answer to authenticate the funds transfer. When the recipient correctly answers the security question, the funds are transferred directly between accounts. In the event the recipient has the auto-deposit feature enabled through INTERAC®, you will not need to provide a security question and answer, and the amount you send will be automatically deposited in their account.
You acknowledge and agree that:
As the originator of the INTERAC® e-Transfer, it is your responsibility to:
provide the accurate email address and/or mobile phone number of the recipient, including updating it if there is a change (and you further agree that the recipient has consented to your use of their contact information for the purposes of INTERAC® e-Transfer Services, including its provision to us, the other Participating Financial Institution, and INTERAC®);
use an effective security question and answer that is only known by you and the recipient; and
keep the answer to all security questions confidential and only provide them to the recipient of the transfer, and not use email or any optional message that may accompany the transfer to send the recipient the answer to the security question;
we are obligated to pay the transfer to anyone who correctly answers the security question, even if the person was not the intended recipient;
we and Neo will not be liable for any loss suffered by you, the recipient or any other person as a result of the sender or recipient’s misuse of, or improper communication or disclosure of, the answer to a security question;
when you initiate an INTERAC® e-Transfer, we will immediately withdraw the amount of the transfer from your Account and within 30 minutes, the recipient is notified of the transaction. We will hold the. money until we are advised that the recipient has claimed or declined the transfer, or you advise to stop the payment, whichever occurs first. We have no obligation to and will not pay interest on the transaction amount. To the extent permitted at law, we are deemed to have a security interest in the transaction amount from the time the Account is debited until the recipient successfully claims the transaction or the transaction is cancelled;
the recipient may only claim the funds within 30 days from the date the transfer was initiated. After 30 days, the transfer will expire and, if unclaimed, the money will be deposited back into your Account (minus any applicable charges).
the e-Transfer Services are only available in Canadian dollars;
We and Neo will not be responsible or liable for any losses or damages incurred as a result of funds held and limits set by us or INTERAC Corp., or a Participating Financial Institution;
funds usually arrive in the recipient’s account within 3 to 5 business days from the day the recipient successfully claims the transaction. We cannot guarantee the date of deposit;
if the recipient successfully claims the transaction using the INTERAC® E-Transfer Service but provides incorrect account information, INTERAC Corp. or its agent may request correct account information from the recipient or may mail a cheque or bank draft to the recipient. We will not pay interest on the transaction amount;
we may cancel a transaction if we have reason to believe that a mistake has occurred or if we believe that the transaction is a product of unlawful or fraudulent activity;
as the sender, you may cancel a transaction up to the time before the recipient successfully claims the transaction and will be responsible for any fees, if applicable. As the recipient, you acknowledge that a transaction may be cancelled up to the time you successfully claim the transaction;
all disputes will be handled directly between the sender and the recipient without the participation of the Bank or any other party; and
we may refuse to provide e-Transfer Services for You.
You give us, and to our clearing agents (including Central 1), your consent and the right to provide the INTERAC® e-Transfer Service, and that your personal information may be provided to, collected by, used by or disclosed by Central 1 and INTERAC® in connection with your use of this Service.
Bill Pay – You may use your Account to make bill payments through the Bill Pay service, through the Neo Platform.
You acknowledge and agree that:
bill payments made through Neo Platform are not processed immediately and that the time period for processing depends upon a number of factors, including, without limitation, the time when the bill payment is authorized and the internal accounting processes of the bill payment recipient;
it is your responsibility to ensure that bill payments are authorized in sufficient time for the payment to be received by the bill payment recipient before its due date;
we and Neo will not be liable for any cost, expense, loss, damage, or inconvenience of any nature or kind whatsoever arising as a result of any error, non-payment or a delay in the processing of bill payments;
if you have made or received a bill payment in error, we may, but are not obliged to, assist you by initiating or processing a “Bill Payment Error Correction Debit”, as defined under the Rules, and if so initiated, you agree to indemnify us for any direct loss, costs, or damages incurred, and will pay to us any reasonable service charges or fees related to the provision of the service; and
if we initiate or process a Bill Payment Error Correction Debit affecting your Account or affairs, and if we did so without gross negligence or intent to cause loss or harm, we shall be held harmless for any and all loss, costs, or damages suffered or incurred by you, howsoever caused, relating to the bill payment or the Bill Payment Error Correction Debit process.
You give us, and to our clearing agents (including Central 1), your consent and the right to provide the Bill Pay service, and that your personal information may be provided to, collected by, used by or disclosed by Central 1 and INTERAC® in connection with your use of this Service.
Transfers between Neo Accounts - You may through the Neo Platform send money electronically from your Account to another Neo account (“Neo Transfer”). Instructions for retrieving the money transferred may be communicated in the Neo Platform by email or by text; the funds are transferred directly between the accounts.
You agree and understand that
We are obligated to pay the Neo Transfer to anyone who claims it, providing they are able to correctly verify using security protocols in place, even if the person was not the intended recipient of the Neo Transfer.
We will not be liable for any losses as a result of the sender or recipient’s misuse of, or improper communication or disclosure of, the answer to the security protocol.
When you initiate a Neo Transfer, we will immediately withdraw the amount of the transfer from your Account and credit the recipient’s account.
Neo Transfers can only be made in Canadian dollars.
Linked Accounts – If permitted by Neo, you may link one or more external account(s) in your personal name at another Canadian financial institution to your Account through the Neo Platform. You may then transfer money between these accounts through the Neo Platform, subject to certain limits. Linked accounts may be set up through the Neo Platform. A new linked account will be activated upon verification that you are the account holder of the external account. It typically takes 5 to 7 days for linked accounts to be set up, but this period of time is not guaranteed or promised. You can also arrange for us to transfer funds from your Account at another Canadian financial institution by contacting Member Support for instructions. You agree and understand that:
we may, in our sole discretion, refuse your request for a linked account or may require you to mail us a void cheque to successfully link an external account.
we, at our discretion, may limit the type of transactions that can be authorized between the accounts, specifically whether transactions will be in the form of credits to an account, debits from an account, or both credits to and debits from an account;
we reserve the right to limit: the number of accounts that can be linked; the dollar amount of transactions made to or from a linked account; and the number of transactions made to or from a linked account;
we reserve the right to apply a hold on the transaction amount to a linked account for a period of time to be determined by us, during which time the transaction or portion thereof will not be accessible to you;
You agree that we cannot guarantee the date of a transaction to and from a linked account. We and Neo will not be held liable for any cost, expense, loss, damage, or inconvenience of any nature arising as a result of a delay in the processing of transactions; and
all transactions will be reversed if the transaction cannot be delivered or if it is returned for any reason.
Holds on the money in your Account - When you deposit money into your Account by Electronic Transfer, INTERAC® e-Transfer, Remote Deposit Service, or Linked Accounts, we may place a hold on all or a portion of your money until we have verified that the funds will be available for payment to us from the other financial institution, as outlined in the Deposit Disclosure.
Closing Your Account - You may choose to close your Account at any time and at no cost. Cheques presented for payment after your Account is closed will be dishonored, and any scheduled bill payments, electronic transfers, INTERAC® e-Transfers or other money movements would be cancelled. You are responsible for transactions you arranged, including those that arrive after your Account is closed. By closing your Account, you forfeit any deposits that would have occurred had you not closed your Account. This includes any promotional offers and may include funds returned as the result of an unsuccessful or returned transfer or payment. We may make reasonable efforts to contact you for payment of funds returned following an unsuccessful transaction; however, we may donate to a charity of our choice, or to send to the Bank of Canada, any funds so returned, despite our reasonable efforts.
If your Account is closed while there are funds remaining in your Account, we may decide to send an electronic transfer to any one of your Linked Accounts or by cheque mailed to the address we have on file for you. We will deduct any outstanding debts or other obligations you owe us according to any right to set-off that we may have under this Agreement or by law.
Closing your Account does not release you from any debt or obligation to us.
The Account is not transferable or assignable only with our specific written approval. You may not use your Account as security for an obligation to another person, or otherwise encumber, your Account without the specific written approval of the Bank.
Account Statements - Although we may not be required to provide you an account statement, we may still do so by electronic means. If we provide you with an account statement, it will only be sent to the primary Account holder.
C - Joint Accounts
Joint accounts, and who can sign
If permitted by Neo, then if two or more persons are named in the Application, your Accounts are joint Accounts and the terms in this Part C apply collectively to all of you and individually to each of you. Any withdrawal or other Instrument signed or effected by any of you, and any instruction, authorization or release given to us by any of you, is binding on all of you.
We may, in our discretion, require all of you to confirm any instruction or authorization;
Any one of you may make deposits to your joint Accounts, including the proceeds of any Instrument payable to any or all of you;
Any one of you may sign releases of us with respect to your joint Accounts and the Services, and confirm that your joint Accounts are correct; and
Any one of you may obtain information about your Accounts, including information about your Accounts before they became joint Accounts and information about any other joint Account holder.
You are individually and collectively responsible for your joint accounts
You each jointly and severally agree with the other Account holders to pay any debt, obligation or liability arising under this Agreement or from the operation of your joint Accounts.
We may send notices, disclosures and statements to any one of you
We will not send Documents or any other notices pursuant to this Agreement to all of you. Documents will be binding on all of you when they are provided to any one of you by electronic methods (which may include posting a notice on the Neo Platform), or when they are sent to any one of you at the most recent address provided to us. Any one of you may consent to receiving Documents by electronic methods and that consent is binding on all of you.
Right of survivorship
If any of you die (the “deceased”), the money in your Accounts will go to the remaining living Account holder(s) (the “survivors”). All funds deposited in any joint Accounts and all interest earned on those funds will be held jointly with the “right of survivorship”, as described in this section. You each assign and transfer to all of you jointly and your survivors all money deposited to the joint Accounts and all interest on that money. However, this right of survivorship does not apply if the deceased is domiciled in Quebec at the time of their death.
If any of you die, you irrevocably direct us to pay the funds in the Accounts to the survivors (subject to any provision in this Agreement and any condition in a GIC or term deposit that restricts withdrawal). We may pay the survivors without inquiring whether the survivors have the beneficial right to the monies in the Accounts, without inquiring as to whether the deceased was domiciled in Quebec at the time of death, and without recognizing any claim of the deceased’s heirs, executors, administrators, assigns, or any other person. Anyone making a claim against the joint Accounts must deal with the survivors. Each of the survivors, and the estate of the deceased, will pay us for any Losses that result directly or indirectly from any payment made by us to the survivors, or any dispute relating to your joint Accounts, the deceased, the survivors or any other person.
If any of you die, we may release any information regarding the joint Accounts up to and including the date of death to the estate representative of the deceased.
D – Neo Platform
Using the Neo Platform
You may use the Neo Platform to access the Account, to use the Services, to conduct transactions and provide instructions as we may allow from time to time. Once a transaction has been processed or an instruction has been given, you cannot revoke it. Transactions will be paid or charged to your Account on a date determined by us.
Your Credentials are used to identify you for access to Neo Platform. You authorize us to accept and you agree to be responsible for any transactions made and any electronic instructions given through the Neo Platform, by you or anyone using your Credentials, to the same extent as if you had given signed written instructions to us.
You may change your Credentials at any time. You will change your Credentials promptly if we ask you to (including where prompted through the Neo Platform). For additional security, we recommend that you change your Credentials on a regular basis, such as every 90 days.
Security of your computers and confidentiality of your Credentials
You will keep your Credentials confidential, and you will take every reasonable precaution to keep your computers, mobile devices and tablets secure from others. This includes:
Keeping possession of the computers, mobile devices and tablets that you use to access the Neo Platform, and keeping your Credentials separate from them. If you must write down your Credentials, you will not record it on your computer, mobile device or tablet, or keep it near your computer, mobile device or tablet;
Avoiding a Credentials that may be easily determined by others, such as your name, birthday, phone number, address, or social insurance number;
Not disclosing your Credentials voluntarily to anyone at any time, including to a family member, friend, financial institution employee, or law enforcement agency; and
Taking all reasonable precautions to ensure that no one finds out your Credentials while logging into the Neo Platform.
You will comply with all security procedures and other requirements that we may specify or recommend from time to time.
When you must notify us
You must notify us immediately, by calling Member Support, as soon as you know or suspect that:
A computer, mobile device or tablet that you use to access the Neo Platform is lost or stolen, or has been used by someone else, or the security of the computer, mobile device or tablet has been compromised;
Your Credentials has become known to someone else; or
The user ID, password or other credentials that you use to log into your mobile device have become known to someone else.
You must also notify us immediately, by calling Member Support, on becoming aware of an unauthorized transaction made through the Neo Platform.
Your liability for Transactions on the Neo Platform
You are responsible for all transactions processed through the Neo Platform using your Credentials, whether or not authorized by you and whether or not you have been the victim of trickery, force, intimidation or theft.
You are responsible for any unauthorized use of the Neo Platform through your mobile device that occurs before you notify us by calling Member Support that your mobile device may have been lost ,stolen or compromised. You are responsible for all fees charged by your mobile service provider.
You are responsible for the accuracy of your transaction instructions, including account number, payment amount, and any other relevant information recorded or entered by you into our systems. Depending on the type of transaction, electronic transfer instructions may be final and irrevocable, and it may not be possible to retrieve funds sent in error.
We will not hold you liable for losses in the following circumstances:
Unauthorized use of your Credentials after you have notified us by calling Member Support as required under “When you must notify us”; or
Losses to your Account resulted from a failure, error, malfunction or technical problem of our systems.
You are responsible for all other losses resulting from the use of your Credentials.
We may set limits for your Services
We may set limits for your use of the Services and we may change those limits at any time, with or. without notice to you. We may, in our discretion, allow you to go over those limits. You may check your limits or ask for lower limits by contacting Member Support.
Using automatic alerts
Your mobile device or your email address may be used to receive automatic alerts about your Account (including alerts about Account transactions, Account balances, and other Account activities) without having to provide your Credentials. You are responsible for any unauthorized use of alert services through your mobile device before you notify us that your mobile device may have been lost, stolen or compromised, or through your email address before you notify us that your email address may have been compromised. You are responsible for all fees charged by your phone company or email service provider.
We will not under any circumstances be liable to you for direct damages or any other damages, even if the damages result from our gross negligence, where the damages result from:
Our delay or failure to send or your failure to receive, an automatic alert for any reason;
An automatic alert issued in error or containing inaccurate or incomplete information; or
Any disruption in alert services for any reason, including a disruption caused by your phone company or email service provider.
E - All Accounts and Services
Using the Services
You agree to comply with our policies and instructions relating to the Services. We may change those policies and instructions from time to time, with or without notice. The current versions of our policies and instructions are available on our website at. You may also obtain copies by contacting Member Support.
We may change the functionality and features of any service (including the technical and security requirements for access to our website, the Neo Platform, your email or for viewing the Documents themselves), or suspend or terminate any service, with or without notice to you.
Your service charges
We will charge you the service fees established by us from time to time that apply in relation to your Account and the Services, and any applicable taxes. For information on the current service fees, visit www.neofinancial.com , the Neo Platform, or contact Member Support. We will also charge you the service fees of any other financial institutions that are imposed as a result of any service that you may use. We may charge your Account for any applicable service fees. If you don’t have enough money in your Account to cover the service fees, we may charge them from any other Account you have with us. You will pay fees incurred on the Account, including, without limitation, fees listed in the Deposit Disclosure, and fees imposed by a third party through your initiation of a transaction. You will pay the service charges that we establish from time to time for the Services, including, without limitation, service charges for providing records regarding you that we are legally required to provide. You acknowledge receipt of the Deposit Disclosure as of the date of this Agreement. We may, from time to time, increase or decrease the service charges for the Services, or introduce new fees, and provide notice of such changes by sending a notice to you, by posting notice on www.neofinancial.com, by personal delivery, or by any other means we, acting reasonably, consider appropriate to bring the change to your attention. You are responsible for determining the then current service charges for the Services you request, in advance of using the Services. By requesting the Services, you acknowledge your agreement to pay service charges for the Services as requested as then in effect. New or amended service charges and fees will become effective on the stated effective date following publication, when the service is requested or performed, or when incurred, and in any event, no later than 30 days after publication by us.
Your instructions to us
We may act on any instructions or other information relating to your Account or the Services that are provided by any method we approve, and whether provided by you, in your name or by someone purporting to be you, including any such communications received through Neo or the Neo Platform. We may, in our discretion, decline to act on your instructions or require verification of your instructions. We are not required to verify your instructions in any circumstances.
We will consider any electronic communication received from you, including through Neo or the Neo Platform, or in your name to be duly authorized by you. The term “electronic communication” means any communication by or involving electronic methods, including communications within the Neo Platform or with Member Support, made by telephone, email, social media, or fax. You authorize us to rely and act on any such electronic communication. If we try to verify the validity of any electronically communicated instructions and are unable to do so to our satisfaction, then we may delay in acting on or refuse to act on such instructions (though we are not required to do so).
Your legal representatives
We may, in our discretion, contract with, accept instructions from, or permit Account business to be transacted by your legal representatives (including anyone to whom you have given power of attorney, your committee, your trustee-in-bankruptcy or receiver or, if you are deceased, your estate representative).
Subject to any right of survivorship, on your death, and on receipt from your estate representative of legal documents and instructions acceptable to us, we will transfer the funds in your Account to your estate representative or permit your estate representative to operate your Account.
We will not be liable for any Losses suffered by you or any other person that result directly or indirectly from the operation of your Account by your legal representative or a person purporting to be your legal representative. You will pay us for any Losses that may be incurred by us that result directly or indirectly from the operation of your Account by your legal representative or a person purporting to be your legal representative.
Your information requests
If you ask us for Documents or other information relating to your Account, or the Services, then we will provide you with copies of the Documents and information that we are required by law to provide. We may grant your request for copies of additional documents or information that we are not required by law to provide. We will not provide copies of documents or information when prohibited by law. We may require you to pay a fee, determined by us, before providing any Documents or information.
Other information requests
From time to time we may have to respond to requests or demands from third parties seeking documents or other information relating to your Account. You will pay our costs of complying with court orders, warrants, summons to witnesses, subpoenas, or statutory demands, or responding to any legal proceeding in which we are asked to provide copies of your financial information or records. The costs we may charge include reasonable legal fees, service provider fees, fees for clerical time, and copy charges.
Third party services
We may make services provided by third parties available to you. If we do so, then:
The third party service is provided by the third party, and not by us. You assume all risks associated with using any third party service, and we and Neo have no liability to you in respect of any third party service. Any dispute you may have relating to a third party service must be resolved between you and the third party, without our involvement.
If a third party deals with us in its provision of services to you, the third party is acting as your agent and not as our agent.
Any dispute that relates to services provided by a third party is strictly between you and the third party, and you will raise no defence or claim against us and Neo ; and
The Proceeds of Crime (Money Laundering) and Terrorist Financing Act and Regulations may apply to the services provided by third parties and that the third parties may, from time to time, adopt policies and procedures to address the reporting, record-keeping, client identification, and ongoing monitoring requirements of that legislation.
Where there are links from our website or within the Neo Platform to any third party’s website, we do not make any representations about, do not endorse, and are not responsible for any Losses relating to, the third party or the third party’s website, products, services or privacy policies.
You will use all reasonable security measures and procedures to ensure the security of your Account, the Services, your Credentials, the computers and other systems you use to access your Account or the Services, and your confidential and personal information.
Always use current firewall and antivirus programs, and promptly install all updates and security patches for all software you use;
Enable security biometrics on your mobile device if available, or at a minimum have a secure password enabled on your device;
Never provide any Account information or any Credentials to anyone in response to an unsolicited email or call, or to anyone else who may pretend to represent us and ask for this information;
Never click on a link provided in an unsolicited email, but instead directly access the Neo Platform for Services;
Always verify the identity of any caller claiming to represent us, and the authenticity of any telephone number or website address provided by a caller or in an unsolicited email; and
Always sign off and close your web browser promptly after you have finished accessing the Neo Platform.
If any security incident affects, or might affect, your Account or the Services, you must tell us immediately by contacting Member Support.
You will obey all security procedures and other requirements that we may specify or recommend from time to time.
We may sometimes audit and test the Services, including to investigate any technical difficulties, security incidents, or deficiencies, or any actual or potential breach of security. The Services may be temporarily unavailable during these audits and tests. You agree to cooperate with such audits and tests.
You will use all reasonable security measures and procedures to protect your Account and the Services from fraudulent activities. You will at all times have in place all reasonable procedures designed to prevent and detect losses due to forged or unauthorized signatures, or fraud or theft in relation to your Account, the Services, or any Instruments.
Anti-money laundering and anti-terrorist financing
The Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada) applies to the operation of your Account and the provision of the Services. We will from time to time adopt policies to address the reporting, recordkeeping, client identification and other requirements of that legislation. You will comply with all those policies, and you consent to our conducting such activities, including background checks, as we may consider necessary for the purpose of complying with our obligations under that legislation.
You will not allow another person to use your Account or the Services, and you will not use your Account or the Services on behalf of or on the instructions of another person, except to the extent we have agreed to your use of the Account or the Services in that manner.
F - Your Information
The meaning of “your information”
In this Part G, “your information” means personal, financial and other information about you that you provide to us or that we obtain from others, including through the services you use.
You consent to our collection, use and disclosure of your information
How we collect and use your information
When you ask to begin a relationship with us and during the course of our relationship, we may collect information including:
Information about you and your background, including your name, intended use of your Account, address, contact information, gender, age, date of birth, occupation, employment history, and identification (such as your government issued photo ID, your credit file, and other types of identification acceptable to us);
Information about your dealings with and through us, including information about your financial transactions and your use of the Services;
Your preferences in relation to the financial products and services we provide to you;
If you choose to allow us, access to your Account with other financial institutions, information about the Account (including account numbers, usernames, passwords, and other credentials) and information about your dealings with and through those financial institutions;
Other information we may need to provide you with particular services; and
Other information which is required by applicable laws, including laws relating to taxation, money laundering and terrorist financing.
We may collect information from you and from other sources, including from:
Government agencies and registries, law enforcement authorities, and public records;
Credit reporting agencies;
Other financial or lending institutions;
Organizations with whom you make arrangements, and other service providers or agents;
References you have provided;
Persons authorized to act on your behalf under a power of attorney or other legal authority;
Your interactions with us, including over the phone, through the Neo Platform, or Member Support through email or the internet, or through other systems used to access the Services; and
Records that reflect your dealings with and through us.
You authorize our collection of your information from these sources and, if applicable, you authorize these sources to give us the information.
We will limit the collection and use of your information to what we require in order to serve you as our customer and to administer our business, including:
To verify your identity;
To determine your eligibility for products and services;
To evaluate and process your Application, Account, transactions and Documents;
To provide you with the Services, and information related to your Account, the Services;
To contact you relating to your Account and services with us;
To analyze your needs and activities to help us serve you better, and to develop new products and services;
To inform you about new business initiatives, including contacting you to obtain your views and to encourage you to express your views about them;
To investigate and help protect you, us and others against financial abuse, fraud, error, criminal activity and other risks;
To help manage and assess our risks, operations and relationship with you;
To conduct research and generate statistics related to our business, products and services;
To help us collect a debt or enforce an obligation owed to us by you; and
To comply with applicable laws and requirements of regulators, including self-regulatory organizations.
We may keep and use your information for as long as needed for the purposes described in this Agreement, even if you cease to be a customer.
How we disclose your information
We will limit the disclosure of your information to what we require in order to serve you as our customer and to administer our business, including:
When we disclose your information at your request or with your consent;
To the extent authorized by this Agreement or any other agreement between you and us;
In response to a court order, search warrant or other demand or request, which we believe to be valid;
To meet requests for information from regulators, including self-regulatory organizations of which we are a member or participant, or to satisfy legal and regulatory requirements applicable to us;
To other organizations that perform services for you or for us, or on our behalf;
To investigate and help protect you, us and others against financial abuse, fraud, error, criminal activity and other risks;
When we sell all or part of our business, insure, sell or securitize assets, or merge or amalgamate parts of our business, or when considering those transactions;
To help us collect a debt or enforce an obligation owed to us by you; and
Where required or permitted by law.
Recipients of your information, including other organizations that perform services for us or for you, may be located outside of Canada, and may be required to disclose your information under the laws that apply in the jurisdiction where they are located.
Information Collected through the Neo Platform and Websites
When you use the Services, our websites, or the Neo Platform, we may also collect:
Device information, including information about your operating system, browser, software applications, IP address, geolocation and security status, to improve your experience and to protect against financial abuse, fraud, error, criminal activity and other risks; and
Website use information such as browsing behavior on our sites and links, locations you click, form data and downloads as well as other data gathered from the use of web tools (for example, cookies, web beacons, tagging, and Google Analytics) to better understand your interests and needs so that we can serve you better.
How we share your information within the Concentra group of companies
We share your information within the Concentra group of companies for the following purposes:
To manage your total relationship within the Concentra group of companies, including servicing your Account and maintaining consistent information about you;
To manage and assess our risks and operations, including to collect a debt owed to us by you; and
To comply with legal or regulatory requirements.
You may not withdraw your consent for these purposes.
How we use your Social Insurance Number (SIN)
If you ask for an Account or services that may generate interest or other investment income, we will ask for your social insurance number (“SIN”) for revenue reporting purposes. This is required by the Income Tax Act (Canada). If we ask for your SIN for other purposes, you can choose not to provide it. When you provide us with your SIN, we may also use it as an aid to identify you and to keep your information separate from that of other customers with a similar name, including through the credit granting process. You may choose not to allow us to use your SIN as an aid to identify you with credit reporting agencies.
Credit reporting agencies and other lenders
When you open an Account, we may ask you to provide information about your employment and finances, and we may exchange information and reports about you with credit reporting agencies and other lenders at the time of and during the Application process, and on an ongoing basis to review and verify your creditworthiness, establish credit and hold limits, help us collect a debt or enforce an obligation owed to us by you, or manage and assess our risks. You may choose not to have us conduct a credit check in order to open an Account or assess an Application for credit. Once you have an Account or a credit facility with us and for a reasonable period of time afterwards, we may from time to time disclose your information to other lenders and credit reporting agencies requesting such information, which helps establish your credit history and supports the credit granting and processing functions in general. We may obtain information and reports about you from Equifax Canada Inc., Trans Union of Canada, Inc., or any other credit reporting agency. You may access and rectify any of your personal information contained in their files by contacting them directly through their respective websites www.consumer.equifax.ca and www.transunion.ca. Once you have applied for any credit product with us, you may not withdraw your consent to this exchange of information.
Preventing, detecting and suppressing fraud
In order to prevent, detect or suppress financial abuse, fraud or criminal activity, protect our assets and interests, assist us with any internal or external investigation into potentially illegal or suspicious activity, or manage, defend or settle any actual or potential loss in connection with these activities, we may collect from, use and disclose your information to, any person or organization (including your next-of-kin or representative), fraud prevention agency, regulatory or government body, the operator of any database or registry used to check information provided against existing information, or insurance companies or financial or lending institutions. For these purposes, your information may be anonymized and pooled with data belonging to other individuals and subject to data analytics.
How we use your information for marketing purposes
We may also use your information for marketing purposes, including to:
Tell you about other products and services that may be of interest to you, including those offered by other businesses within the Concentra group of companies and others we select;
Determine your eligibility to participate in contests, surveys or promotions;
Conduct research, analysis, modeling, and surveys to assess your satisfaction with us as a customer, and to develop products and services; and
Contact you by telephone, mail, email, text message or other methods.
With respect to these marketing purposes, you may choose not to allow us to contact you by telephone, email, text message or other methods, with offers that may be of interest to you.
Your health information
We collect, use and disclose information about your health in order to provide you with third party creditor insurance products requested by you, and to assist in the administration of any claims under those creditor insurance products. We do not use this information for any purpose unrelated to these creditor insurance products, and we do not share it within the Concentra group of companies.
We may record our Interactions
When you are speaking with one of our Member Support representatives or internet live chat agents, communicating with us through the Neo Platform or by email, or messaging with us through social media, we may monitor and record our discussions and other communications for our mutual protection, to enhance customer service, and to confirm our discussions and other communications with you.
If you prefer not to be recorded by audio, many but not all transactions can be conducted using the Neo Platform.
You will not record our interactions without our prior consent.
How you can opt-out
how we collect, use and disclose your information;
how to request access to your information; or
how to correct your information.
If we cannot resolve your concern to your satisfaction, you can also raise a privacy concern with the Office of the Privacy Commissioner of Canada in writing at: 30, Victoria Street, Gatineau, Quebec, K1A 1H3. The Office of the Privacy Commissioner of Canada can also be contacted by telephone at (819) 994-5444 or toll- free at 1-800-282-1376.
You certify your information and must notify us if you change your information, residency, tax residency, or United States person status
You certify that all information you provide to us in your Application or at any other time is true and correct to the best of your knowledge, after due enquiry.
You must tell us immediately of any change to your cellular telephone number, mailing address and email address. If you do not give us a valid email address, electronic notifications may be delayed or fail to arrive. If you do not give us a valid address, we will use your last known address for any purpose under this Agreement. If we cannot deliver any communication, or any communication is returned, we may stop attempting to communicate with you until we receive accurate contact information.
You must tell us immediately of any change to your residency. If you are no longer a resident of Canada, we may close your Account and, whether or not we close your Account, you will immediately pay all amounts owing under this Agreement free and clear of all foreign taxes, holdbacks and all withholding taxes.
You must provide us with updated information within 30 days of any change to your tax residency information or United States person status. You declare that the tax residency information and United States person status you provided to us (including any tax identification number) are, to the best of your knowledge and belief, correct and complete. Failure to provide satisfactory self-certification of tax residency or United States person status may result in your Account information being reported to the relevant tax authority and you may be subject to a penalty under the Income Tax Act (Canada).
G - General
If you have a problem or concern
Communicating Your Concern
Tell us about your problem or concern in the way that is most convenient for you through Neo’s Complaint Policy found at www.neofinancial.com/complaints-policy. You may contact a Neo service representative by contacting Member Support. You can reach Member Support by email email@example.com or via phone during business hours.
Escalating Your Concern
If you are not satisfied with the outcome and feel that your concern has not been properly addressed, you are encouraged to communicate directly with Neo’s Head of Operations. This may be done in writing to:
Head of Operations
Attn: Customer Complaint
Suite 200, 632 Confluence Way SE
Calgary, AB T2S 2E9
Neo’s Head of Operations will also immediately engage the Complaints Liaison Officer (CLO) at the Bank. Together, Neo’s Head of Operations and the CLO will conduct the investigation in line with the Complaint Policies of Neo and the Bank.
External Resolution Bodies
If, following the investigation by Neo’s Head of Operations and the Bank’s CLO, you are not satisfied with the outcome of the investigation or the investigation itself, you may file a complaint to the Ombudsman for Banking Services and Investments (OBSI) or may ask Neo and the Bank to transfer the file to the OBSI.
Ombudsman for Banking Services and Investments (OBSI)
Suite 2400, 20 Queen Street W.
P.O. Box 8
Toronto, ON M5H 3R3
Phone: 1 888 451-4519
Fax: 1 888 422-2865
For more information on regulatory issues governed by the FCAC, please contact by telephone1-866-461-3222 or view the website at www.fcac-acfc.gc.ca.
Regulatory complaints should be addressed in writing to:
Financial Consumer Agency of Canada
6th Floor, Enterprise Building
427 Laurier Ave. West
Ottawa ON K1R 1B9
How we communicate with you
We may send any paper notice or other communication to the most recent mailing address shown in our records. If we send it by ordinary mail, you will be considered to have received it 5 business days after the post-mark. If we deliver it by hand, you will be considered to have received it when delivered. If mail service is disrupted, we will tell you where to pick up your paper statements. You will be considered to have received your paper statement on the day it is available for you to pick up, whether or not you do so.
Consent to electronic delivery of documents
By submitting your Application for an Account, you consent to receive electronic communications,notifications and messages from us and from service providers working on our behalf to service yourAccount, including enrollment and transaction information, by way of our public and secure sites. Youconsent to the electronic delivery of all Documents, to take effect immediately, including but not limitedto:
The Deposit Disclosure and this Agreement;
Notice of changes to the Account terms, products or services, including changes to any interest rate(s), fee(s), service charge(s), operating conditions of the account, and any other items mentioned in the Deposit Disclosure;
Communications from us about the terms and conditions applicable to your Account, including changes and confirmations; and
Any other confirmation, notice or information that we are required by law to provide to you in writing relating to the Account.
This consent shall take effect as soon as you open your Account.
Your electronic transaction history is available for download on the Neo Platform and is available for 7 years after the end of the period to which they relate. We will keep a copy of all other Documents provided to you for the entire time you maintain your Account with us and for a minimum period of 5 years after you cease to maintain your Account with us.
Inherent risk of electronic communication
You acknowledge that there are inherent risks in electronic communications, and that the security of electronic communications is not guaranteed. You accept all risks associated with the communication methods used with your Account or the Services, including the risks that the use of mail, courier, or unencrypted communications might not be secure, reliable, private or confidential.
If this is a joint Account, you confirm that you have the approval and authority of your joint Accountholder(s) to enter into this Consent on their behalf. You agree that you will make your joint Accountholder(s) aware of the terms and conditions of this Consent, including the ability to revoke this Consent to have Documents delivered to you electronically.
Changing this consent
We may change the terms and conditions of this section on consent from time to time by providing you with notice of change through electronic or paper delivery. Your later use of your Account and the Services means that you agree to and accept the revised terms of this consent. If you do not agree to a change, you must immediately revoke your consent as set out below.
You may contact us if you wish to withdraw your consent to receive such electronic notifications during our business hours only by closing your Account. We may decide to provide you with Documents by paper delivery if we are unable to provide electronic delivery, have reason to believe you may not have received the Document, or if we, in our sole discretion, otherwise consider it appropriate. Any paper delivery will be provided to you at the most current mailing address that we have on file for your Account and will be subject to the fees outlined in the Deposit Disclosure.
We may change this Agreement
This version of this Agreement is effective August 28, 2020, and replaces older versions of this Agreement. We may propose to change, either permanently or temporarily, any term of this Agreement (including fees, charges or other amounts required to be paid by you under this Agreement) or replace this Agreement with another agreement, at any time. We will give you notice of a proposed change and any other information required by law, at least 30 days before the change is to come into effect (as stated in the notice). We may give you notice of a proposed change by any method allowed by applicable law, including:
Sending you a paper or electronic notice; or
Posting a notice on our website.
You may refuse the change by closing your Account without cost within 30 days of the effective date of the change.
You can obtain a copy of the current version of this Agreement on www.neofinancial.com and the Neo Platform or by contacting Member Support.
Services are “as is” and “as available”
The Services are provided on an “as is” and “as available” basis. Unless we say otherwise in this Agreement or where prohibited by law, we disclaim all representations, warranties and conditions, express, implied or collateral, including implied warranties or conditions of merchantability, merchantable quality, fitness for a particular purpose, infringement and those arising by statute or otherwise in law or from the course of dealing or usage of trade. We do not represent or warrant that the Services will meet your requirements, or that the operation of the Services will be uninterrupted, secure or error-free.
Our liability is limited
You agree that we will be liable to you only for your direct damages resulting from our gross negligence, fraud or willful misconduct that come directly from our performance of our duties under this Agreement or the services provided to you. We will not be liable to you for any other direct damages.
We will not under any circumstances be liable to you for any other Losses suffered by you or any other person, including indirect, incidental, special, general, consequential, aggravated or punitive damages, loss of profits, loss of revenue, loss of business opportunities, inconvenience, claims of other persons, or any other foreseeable or unforeseeable losses resulting directly or indirectly out of this Agreement or the services provided to you, even if we were advised of the possibility of such Losses, or the Losses resulted from our gross negligence, fraud or willful misconduct.
We will not under any circumstances be liable for direct damages or any other Losses suffered by you or any other person, where the Losses result from:
Our exercising any right we have under this Agreement, or our acting or failing to act on any instructions provided by you;
Any breach of this Agreement by you, your agents, or any other person for whom you are responsible;
Any inaccuracies in, or inadequacies of, any information or instructions provided to us by you, your agents, or any other person for whom you are responsible;
Any failure, error, malfunction or unavailability of any system or equipment of any person;
Any failure, error or delay in any service or the processing of any transaction;
Any act or failure to act by you or any third party;
Any forged or unauthorized Instrument or otherwise unauthorized transaction, any forged or unauthorized signature, any material alteration on any Instrument, instruction or document relating to a transaction, any counterfeit Instrument, or any other fraud or unauthorized account activity or use of the Services;
The implementation of any transaction or any instruction where we have been provided with any Credentials;
Your loss of any official cheque or other Instrument provided to you by us.
Payment of funds to the surviving joint Account holders;
Any dispute with any person relating to a claim for entitlement to funds in an Account;
Our decision to freeze an Account, close an account, or to hold funds, or to refuse or delay a transaction;
Our failure to perform any of our obligations due to any cause beyond our exclusive control; or
Any other circumstances where we have disclaimed liability or responsibility under this Agreementor you have accepted a risk under this Agreement.
We will not under any circumstances be liable for direct damages or any other Losses suffered by you or any other person, where you could with reasonable diligence have obtained coverage for the Losses with a commercially available policy of insurance.
The limitations in this section apply to any act or omission by us, whether or not the act or omission would otherwise give rise to a cause of action in contract, tort, statute or any other doctrine of law.
You agree that Neo is entitled to the same protections from liability, and limitations of liability, as we have in this section G-6.
You will pay any Losses we incur
You will pay us and Neo for any Losses that may be incurred by us or Neo, including any claim brought by any person, that result directly or indirectly from this Agreement, the operation of your Account, the provision of any services to you, our acting or failing to act on your instructions, or any circumstances where we have disclaimed liability or responsibility under this Agreement or you have accepted a risk under this Agreement, except to the extent that the losses result directly from our gross negligence, fraud or willful misconduct.
We may recover our costs and legal fees
You will pay us for any costs we incur to recover amounts that you owe us. These costs include legal fees on a solicitor and own client basis as well as reasonable counsel fees charged by our legal department.
We may set off your debts against your Account
We may apply a positive (credit) balance in your Account against any debt, obligation or liability you may owe to us, and you authorize and direct us to apply a positive (credit) balance in your Account against any debt, obligation or liability you may owe to Neo. For joint Accounts, we may also apply a positive (credit) balance in a joint Account against any debt, obligation or liability that any joint Account holder may owe to us, and we may apply a positive (credit) balance in any other Account of a joint Account holder against any debt, obligation or liability you may owe to us in relation to the joint Account. We can set off these balances in any manner we consider necessary, and we are not required to give you notice before we do so.
All security held by us for any debt, obligation or liability, whether now or in the future, is also security for any debt, obligation or liability arising under this Agreement, from the operation of your Account, or from use of the Services. We may apply such security to such debt, obligation or liability, with or without notice.
How to serve documents on us, and how we may serve documents on you
Service on us of notices, demands or legal documents must be made at 333 – 3 rd Avenue North, Saskatoon, Saskatchewan, S7K 2M2.
We may serve you with any notice, demand or legal document in any way that we are permitted to send you notices under “How we communicate with you” in section G-2, and the notice, demand or legal document is deemed to have been served when we are entitled to consider that you have received it under that section.
Our records are binding on you
In the absence of evidence to the contrary, our records are conclusive and binding on you for all purposes, and will be admissible in any legal, administrative or other proceeding as if such records were original written documents. Our records will be conclusive proof of the information contained in such records, including information relating to transactions on your Account, any instructions or notices given by you or by us, your use of any services, and the contents of any envelope mailed by you to us.
We may pay into court
If there is a dispute or any uncertainty about who is entitled to the money in an Account, who is able to provide instructions on an Account (including due to your alleged or actual incapacity or any marriage/common-law partnership breakdown), or who is legally entitled to apply for and accept payment on your death, we are entitled to either apply to court for directions or to pay the money in the Account into court and be fully discharged. In either case, you will pay us any legal and other costs we incur.
Which laws govern this Agreement?
This Agreement is governed by the laws of the province of Saskatchewan and the laws of Canada applicable in Saskatchewan. The courts located in Saskatchewan will have non-exclusive jurisdiction in the event of any dispute relating to this Agreement.
You waive presentment, etc.
You waive presentment, protest, notice of protest and notice of dishonour on all Instruments.
Our name and trademarks
You will not make any public communication using our name or any of our trademarks before getting our written consent. We may choose not to provide our consent for any reason.
How we interpret this Agreement
This Agreement should be read with all changes of number and gender that the context requires. The term “including” means “including, but not limited to”. The term “gross negligence” means conduct (whether through action or inaction) which is a marked and flagrant departure from the conduct ordinarily expected of a reasonable and prudent person in our position, or so wanton and reckless as to constitute an utter disregard for harmful, foreseeable and avoidable consequences. Headings are for convenience only and do not affect the interpretation of the rest of this Agreement. If any provision of this Agreement is determined to be invalid or unenforceable, the remainder of this Agreement will continue in full force and effect. Only an authorized officer of the Bank can waive a term of this Agreement, and the waiver must be in writing. A failure by us to exercise, or a delay by us in exercising, any of our rights under this Agreement is not a waiver of our rights. A waiver of any right will not prevent us from exercising that right in the future. If we waive a breach of any term of this Agreement, we are not waiving any breach of any other term or any future breach of that term.
Assignment of this Agreement
This Agreement is binding on us and our successors and assigns. We may assign your Account, services, and this Agreement to any person without your consent. This Agreement is also binding on you, your successors, permitted assigns and attorneys, and on your heirs and personal representatives - including your executors and administrators. You must obtain our written consent to assign this Agreement and any Account or service to another person.