Voluntary commitments and codes of conduct

Voluntary commitments and codes of conduct are non-legislated commitments that banks operating in Canada have made to their customers related to various products and services. The details of these commitments, including scope of application, are provided below. The Financial Consumer Agency of Canada oversees compliance with these voluntary commitments and codes of conduct.

• Commitment on Low-Cost and No-Cost Accounts (2025)
  Signatory banks have agreed individually with the Government of Canada to offer modern basic banking services at low-cost and to offer certain groups these same services at no-cost. This Commitment, effective December 1, 2025, modernizes and expands a previous commitment from 2014.
• Code of Conduct for the Delivery of Banking Services to Seniors (2019)
  A code of conduct that sets out principles that apply to banks to guide them when they deliver banking products and services to Canada’s seniors.
• Code of Conduct for the Payment Card Industry in Canada (2010, updated 2015, 2024)
  Code of conduct that sets principles for business practices related to the issuance and acceptance of payment cards and operation of payment card networks.
• Commitment to Provide Information on Mortgage Security (2014)
  Banks that offer residential mortgages agree to provide consumers shopping for a mortgage loan with certain comparative information about collateral charge and conventional charge mortgages to help consumers choose the mortgage product that best suits their needs.
• Commitment on Powers of Attorney and Joint Deposit Accounts (2014)
  Banks that accept Powers of Attorney from or open joint deposit accounts for clients agree to provide clients with certain information to help clients understand the implications of using them.
• Commitment on Modification or Replacement of Existing Products or Services (2012)
  Banks provide consumers with assurances related to the modification or replacement of existing products and services.
• Code of Conduct for Federally Regulated Financial Institutions - Mortgage Prepayment Information (2012)
  If customers choose to break their mortgage or pay it off early, there could be a mortgage prepayment charge. This code of conduct outlines the type of information customers will receive to help them make an informed decision about mortgage prepayment.
• Online Payments (2005)
  Consumer and industry responsibilities related to the use of online payments systems in Canada.
• Canadian Code of Practice for Consumer Debit Card Services (1992, revised 2004)
  Industry practices and consumer and industry responsibilities related to debit cards.
• Guidelines for Transfers of Registered Plans (1992, revised 2022)
  What to expect and where to get help when transferring a registered savings plan (RSP) between financial institutions.
• CBA Code of Conduct for Authorized Insurance Activities (2003)
  Outlines the banks' standards for branch employees offering credit, travel and personal accident insurance with respect to training, disclosure, promotion practices, customer privacy protection and customer redress.
• Principles of Consumer Protection for Electronic Commerce: A Canadian Framework (1999)
  A guide to protecting customers in online transactions, developed with input from industry, government and consumer groups.
• Model Code of Conduct for Bank Relations with Small- and Medium-Sized Businesses (1994)
  Model code of conduct for bank dealings with small- and medium-sized businesses. The key elements of the model code are incorporated into individual bank codes.
• Plain Language Mortgage Documents — CBA Commitment (2000)
  A commitment by Canada's banks to improve readability of residential mortgage documents.