Legal information

Notifications related to deposit accounts and service charges

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This document provides details on the interest rates applicable to deposit accounts and on the service charges at BNP Paribas, in Canada, (hereinafter referred to as the « Bank »).

RATES – DEPOSIT ACCOUNTS

Unless agreed otherwise, any credit balance in a Canadian dollar deposit account bears interest at the annual prime rate of the Bank minus five percent (5%)*; such interest is calculated on the daily outstanding balance and is payable monthly on the last day of the month.

Interest rates may be changed upon written notice issued 30 days prior to the date where the new rate is to come into effect. Changes are posted in the offices and on the Websites of the Bank.

The Prime rate of the Bank is the annual interest rate announced by it as being its reference rate to determine interest rates on Canadian dollar loans made in Canada by the Bank. The US Base rate of the Bank is the annual interest rate announced by it as being its reference rate to determine interest rates on American dollar loans made in Canada by the Bank.

The Bank may change its Prime rate and its US Base rate at any time, without prior notice. Changes will be communicated in writing or posted in the offices and Websites of the Bank.

The Bank reserves the right to introduce new charges or to increase the charges listed in this brochure:

  • By a written notice joined to your statement of account, sent 30 days before the date where the change is to come into effect;
  • By posting a notice in the offices and on the Websites of the Bank, 60 days before the date where the change is to come into effect.

*With a floor rate of 0.00%.

DEPOSIT CONFIRMATIONS

The annual rate of interest, the calculation method of the interest, the frequency of payment of interest and any other condition or circumstance that could affect the rate of interest will be communicated to the customer verbally and in writing at the time the Bank confirms any deposit received for a given term.

DEBIT BALANCES

The customer acknowledges that any debit balance in its account represents an advance made by the Bank to the customer, and the customer undertakes to repay such advance, on demand by the Bank, with interest calculated on the daily debit balance, at the prevailing annual Prime rate of the Bank (or annual US Base rate if the account is in American dollars), unless agreed otherwise in writing. Minimum fees of $5.00 per month shall be debited, as applicable.

SERVICE CHARGES

Standard service charges related to deposit accounts, and to some other transactions, are as follow, unless agreed otherwise in writing with the customer. Other charges, not mentioned herein, may apply to other services offered by the Bank and may apply to deposit accounts.

Charge per account entry – $ 1.00

Processing of deposited cheque in CAD – $ 0.18

Processing of deposited cheque in USD – $ 0.25

Stop payment – $ 10.00

Cheque returned for insufficient funds – $ 45.00

Cheque certification / Issuance of a bank draft – $ 10.00

Cheque returned unpaid – $ 45.00

Bank confirmation – $ 40.00

Searches related to account entries dating back more than 12 months – $ 35.00 per hour (minimum $ 35.00)

Statement of account (and any additional copy) – $ 3.00 per statement or copy

Transfer between accounts – $ 4.00 per transfer

If the other charges cannot be determined at the time of the opening of an account, the Bank will advise the customer of such charges as soon as they are determined.

For further information, please contact your local office of BNP Paribas, in Canada.

  • Notifications related to deposit accounts and service charges

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Complaint Handling Procedure and Mandatory Notices and Disclosures

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COMPLAINT HANDLING PROCEDURE

BNP Paribas believes that a close and efficient client communication is as important, for a good business relationship, as the quality of products and services. This is why we invite you to contact your relationship manager for any matter related to the management of your account, products offered, as well as services performed.

If you are however not satisfied with any of our products or services, or for any claim or complaint you may have, you may contact directly the BNP Paribas CIB Canada Compliance Officer:

M. Michel Allen
Telephone: (514) 285-6102
2001 Robert-Bourassa Boulevard, Montreal, Quebec, H3A 2A6
Email: canada_compliance_ethics@americas.bnpparibas.com

We are confident that your concern will be settled in a satisfactory and professional manner, through the use of our internal resources. However, in the event the issue is still not resolved to your satisfaction, you can contact the Canadian banking Ombudsman as follows:

Ombudsman for Banking Services and Investments
Telephone: 1-888-451-4519
401, Bay Street, Suite 1505, P.O. Box 5 Toronto (Ontario) M5H 2Y4
Email: ombudsman@obsi.ca
Fax: 1-888-422-2865
Website: https://www.obsi.ca

You may also contact at any time:

Financial Consumer Agency of Canada
Telephone: 1 (866) 461-3222
427, Laurier Avenue West, 6th Floor Ottawa (Ontario) K1R 1B9
Website: https://www.fcac-acfc.gc.ca

For any claim or request related to the protection of personal information you can contact the Privacy officer of BNP Paribas, in Canada. We will do our best to answer any claim or request within 30 days of their receipt. However, if your request requires more time to be processed, you will be advised accordingly.

Privacy officer
Telephone: (514) 285-6000
2001 Robert-Bourassa Boulevard Montreal, Quebec, H3A 2A6
Email: jean-philippe.cadot@ca.bnpparibas.com

If you are not satisfied after having contacted our Privacy officer, you have the right to file a complaint with the Office of the Privacy Commissioner of Canada:

Office of the Privacy Commissioner of Canada
Telephone: 1-800-282-1376
Fax: 819-994-5424
30 Victoria Street, Gatineau (Quebec) K1A 1H3
Website: https://www.priv.gc.ca

NOTICE REGARDING ACCESS TO FUNDS

Any amount credited to an account you hold with BNP Paribas, in Canada, as a result of the deposit of any cheque, note, bill of exchange, payment order or any other similar instrument or a fund transfer, may be withheld until the expiry of a period permitting to believe that it has been paid on a final basis or that the transfer cannot be reversed, subject to applicable regulations.

NOTICE OF UNINSURED DEPOSITS

Deposits with BNP Paribas are not insured by the Canada Deposit Insurance Corporation.

DEPOSIT CONFIRMATIONS

The annual rate of interest, the calculation method of the interest, the frequency of payment of interest and any other condition or circumstance that could affect the rate of interest will be communicated to the customer verbally and in writing at the time the Bank confirms any deposit received for a given term.

PRIME RATE AND BASE RATE

The Prime rate of the Bank is the annual interest rate announced by it as being its reference rate to determine interest rates on Canadian dollar loans made in Canada by the Bank. The US Base rate of the Bank is the annual interest rate announced by it as being its reference rate to determine interest rates on American dollar loans made in Canada by the Bank.

The Bank may change its Prime rate and its US Base rate at any time, without prior notice. Changes are communicated in writing or posted in the offices and Websites of the Bank.

RATES – DEPOSIT ACCOUNTS

Unless agreed otherwise, any credit balance in a Canadian dollar deposit account bears interest at the annual Prime rate of the Bank minus five percent (5%)*; such interest is calculated on the daily outstanding balance at the end of the day and is payable monthly on the last day of the month.

Interest rates may be changed upon written notice issued 30 days prior to the date where the new rate is to come into effect. Changes are posted in the offices and on the Websites of the Bank. The Bank reserves the right to introduce new charges or to increase any published charge:

  • By a written notice joined to the statement of account of the customer, sent 30 days before the date where the change is to come into effect;
  • By posting a notice in the offices and on the Websites of the Bank, 60 days before the date where the change is to come into effect.

*With a floor rate of 0.00%.

DEBIT BALANCES

The customer acknowledges that any debit balance in its account represents an advance made by the Bank to the customer, and the customer undertakes to repay such advance, on demand by the Bank, with interest calculated on the daily debit balance, at the end of the day, at the prevailing annual Prime rate of the Bank (or annual US Base rate if the account is in American dollars), unless agreed otherwise in writing, which may be debited monthly to the relevant account. Minimum fees of $ 5.00 per month shall be debited, as applicable.

SERVICE CHARGES

Unless different charges are negotiated and agreed to in writing, standard service charges, a non- exhaustive list of which are available on the Websites of the Bank, apply to deposit accounts and to some other transactions. Specific charges applicable to services offered by the Bank to the customer (some of which may apply to deposit accounts) are communicated to the customer by separate letter transmitted by mail or email. If the various applicable charges cannot be determined at the time of the opening of an account, the Bank will advise the customer of such charges as soon as they are determined.

For further information, please contact your local office of BNP Paribas, in Canada.

  • Complaint Handling Procedure and Mandatory Notices and Disclosures

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Designated offices

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In compliance with the Support Orders and Support Provisions (Banks and Authorized Foreign Banks Regulations), BNP Paribas (Canada Branch) designates the following offices for the service of enforcement notices for the following provinces:

Ontario
155 Wellington Street West, Suite 3110, RBC Centre, Box 149 Toronto, Ontario, M5V 3H1

Quebec
2001 Robert-Bourassa Boulevard Montreal, Quebec, H3A 2A6

  • Designated offices

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What every client must know regarding coercive tied selling

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The Bank Act prohibits all authorized foreign banks (a “Bank”), including BNP Paribas, in Canada, to force an individual to purchase a product or service to obtain another product or service, constituting an illegal practice, called “coercive tied selling.”

Paragraphs 459.1 and 576.1 of the Bank Act prohibit any Bank to “impose undue pressure on, or coerce, a person to obtain a product or service from a particular person, including the bank [or the authorized foreign bank] and any of its affiliates, as a condition for obtaining another product or service from the bank [or the authorized foreign bank].”

No undue pressure can thus be imposed by a Bank on a person as a condition to purchase a product or service which such person does not wish to obtain, and any person has the right to freely choose a product, service or financial provider.

For example:

  • A Bank cannot force a person to transfer investments in its institution as a condition to opening up an account.

However, the law does not prohibit a Bank:

  • To provide a service or product at a more advantageous rate should you wish to obtain another service or product;
  • To group products and services in order to offer a lower rate than the one that would have been offered if the products or services were obtained separately.

Should you feel that any form of undue pressure was placed upon you by a staff member of BNP Paribas, in Canada, please inform us by contacting in writing the:

Representative of the Protection of Interests of Clients
Compliance Canada
2001 Robert Bourassa, suite 900 Montréal, Québec, H3A 2A6
Fax: 514-228-3875
Email: canada_compliance_ethics@americas.bnpparibas.com

If you are not satisfied with the outcome of that process, please write to the Ombudsman for Banking Services and Investments at the following address:

Ombudsman for Banking Services and Investments
401 Bay Street, Office 1505, C.P. 5 Toronto (Ontario) M5H 2Y4
Telephone: 416-287-2877
Toll-free Telephone: 1-888-451-4519
Fax: 416-225-4722
Toll-free Fax: 1-888-422-2865
E-mail: ombudsman@obsi.ca
Web site: https://www.obsi.ca

You may also communicate in writing, at any time, with the Financial Consumer Agency of Canada:

Financial Consumer Agency of Canada
427 Laurier Avenue West, 6th floor Ottawa (Ontario) K1R 1B9
Telephone: 613-960-4666
Toll-free Telephone: 1-866-461-3222
Fax: 613-941-1436
Toll-free Fax:1-866-814-2224:
Web site: https://www.fcac-acfc.gc.ca

  • What every client must know regarding coercive tied selling

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Notice: Prime Rate and US Base Rate

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NOTICE

RateDate of Change
Prime rate *2.45%2020/03/31
US Base rate **3.75%2020/03/16
These rates are subject to change, without notice, at any time.

* Annual reference rate used by BNP Paribas, in Canada, to determine interest rates on Canadian dollar loans they make in Canada.

**Annual reference rate used by BNP Paribas, in Canada, to determine interest rates on American dollar loans they make in Canada.

  • Notice: Prime Rate and US Base Rate

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Data Protection notice

BNP Paribas Group

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May 25, 2018 – www.bnpparibas.ca

DATA PROTECTION NOTICE

The protection of your personal data is important to the BNP Paribas Group, which has adopted strong principles in that respect for the entire Group in its Personal Data Privacy Charter available at group.bnpparibas.

This Data Protection Notice provides you with detailed information relating to the protection of your personal data by Group Communications, one of the Group Functions of BNP Paribas SA (“we”).

We are responsible, as a controller through our various brands, notably e.g. BNP Paribas, Hello Bank, We Are Tennis, We Love Cinéma, Echonet, for collecting and processing your personal data in relation to our activities. The purpose of this Data Protection Notice is to let you know which personal data we collect about you, the reasons why we use and share such data, how long we keep it, what your rights are and how you can exercise them.

Further information may be provided where necessary when you apply for, subscribe or use a specific product or service.

1 – WHICH PERSONAL DATA DO WE USE ABOUT YOU?

We collect and use your personal data to the extent necessary in the framework of our activities and to achieve a high standard of personalized products and services.

We may collect various types of personal data about you, including:

  • Identification information (e.g. name, ID card and passport numbers, nationality, place and date of birth, gender, photograph, IP address);
  • Contact information (e.g. postal address and e-mail address, phone number);
  • Family situation (e.g. marital status, number of children);
  • Education and employment information (e.g. level of education, employment, employer’s name);
  • Banking, financial and transactional data (e.g. bank account details, credit card number, money transfers);
  • Client relationship
  • Information related to your digital activities (eg. IP address, browsing activity, geolocation etc.)
  • Data relating to your habits and preferences :

o Data which relate to your use of our products and services in relation with banking, financial and transactional data;

o Data from your interactions with us: our branches (contact reports), our internet websites, our apps, our social media pages, meeting, call, chat, email, interview, phone conversation;

o Data concerning your hobbies and your interests

We never ask for personal data related to your racial or ethnic origins, political opinions, religious or philosophical beliefs, trade union membership, genetic data or data concerning your sex orientation, unless it is required through a legal obligation.

The data we use about you may either be directly provided by you or be obtained from the following sources in order to verify or enrich our databases:

o Publications/databases made available by official authorities (e.g. the official journal);

o Our corporate clients or service providers;

o Websites/social media pages containing information made public by you (e.g. your own website or social media);

o Databases made publicly available by third parties.

2 – SPECIFIC CASES OF PERSONAL DATA COLLECTION, INCLUDING INDIRECT COLLECTION

In certain circumstances, we may collect and use personal data of individuals with whom we have, could have, or used to have a direct relationship such as:

• Prospects

For some reasons, we may also collected information about you whereas you have not direct relationship with us. This may happen for instance when your employer provide us with information about you or your contact details are provided by one of our clients if you are for example:

  • Family members;
  • Legal representatives (power of attorney);
  • Company shareholders;
  • Representatives of a legal entity (which may be a client or a vendor);
  • Staff of service providers and commercial partners
  • Journalists
  • Personal contacts

3 – WHY AND ON WHICH BASIS DO WE USE YOUR PERSONAL DATA?

a. To comply with our legal and regulatory obligations

We use your personal data to comply with various legal and regulatory obligations, including:

  • Banking and financial regulations in compliance with which we:

o Set up security measures in order to prevent abuse and fraud;

o Detect transactions which deviate from the normal patterns;

o Ddefine your credit risk score and your repayment capacity

o Monitor and report the risks we may run,

o Record, when necessary, phone calls, chats, email, etc.

  • Prevention of money-laundering and financing of terrorism
  • Reply to an official request from a duly authorised public or judicial authority.

b. To perform a contract with you or to take steps at your request before entering into a contract

We use your personal data to enter into and perform our contracts, including to:

  • Provide you with information regarding our products and services;
  • Assist you and answer your requests;
  • Evaluate if we can offer you a product or service and under which conditions; and
  • Provide products or services to our corporate clients of whom you are an employee or a client (for instance: in the context of cash management).

c. To fulfil our legitimate interest

We use your personal data in order to deploy and develop our products or services, to improve our risk management and to defend our legal rights, including:

  • Proof of transactions;
  • IT management, including infrastructure management (e.g. : shared platforms) & business continuity and IT security;
  • Establishing aggregated statistics, tests and models, for research and development, in order to improve the risk management of our group of companies or in order to improve existing products and services or create new ones;
  • Personalizing our offering to you and that of other BNP Paribas entities through:

o Improving the quality of our banking, financial or insurance products or services;

o Advertising products or services that match with your situation and profile which we achieve.

This can be achieved by:

  • Segmenting our prospects and clients;
  • Analysing your habits and preferences in the various channels (visits to our branches, emails or messages, visits to our website, etc.);
  • Sharing your data with another BNP Paribas entity, notably if you are – or are to become – a client of that other entity;
  • Matching the products or services that you already hold or use with other data we hold about you (e.g. we may identify that you have children but no family protection insurance yet); and
  • Administer a contest, sweepstakes, giveaway, competition, or other similar marketing campaign or offering promotional games and managing events
  • Communicating about our products, services, offers, news, and what we generally do at BNP Paribas or other brands managed by Group Communications
  • Customer service, including responses to your inquiries;
  • To improve and personalise your experience on our websites and applications;
  • Account maintenance including administering any consumer loyalty or rewards programs that are associated with your account;
  • To process and ship prize won through your participation to our promotional games;

Your data may be aggregated into anonymized statistics that may be offered to professional clients to assist them in developing their business. In this case your personal data will never be disclosed and those receiving these anonymized statistics will be unable to ascertain your identity.

d. To respect your choice if we requested your consent for a specific processing

In certain cases, we must require your consent to process your data, for example:

  • Where the above purposes lead to automated decision-making, which produces legal effects or which significantly affects you. At that point, we will inform you separately about the logic involved, as well as the significance and the envisaged consequences of such processing;
  • If we need to carry out further processing for purposes other than those above in section 3, we will inform you and, where necessary, obtain your consent.
  • For interaction on social networks for the purposes of running contests

4 – WHO DO WE SHARE YOUR PERSONAL DATA WITH?

In order to fulfill the aforementioned purposes, we only disclose your personal data to:

  • BNP Paribas Group entities (e.g. you can benefit from our full range of group products and services);
  • Service providers which perform services on our behalf;
  • Independent agents, intermediaries or brokers banking and commercial partners, with which we have regular relationship;
  • Financial or judicial authorities, state agencies or public bodies, upon request and to the extent permitted by law;
  • Certain regulated professionals such as lawyers, notaries or auditors.

5 – TRANSFERS OF PERSONAL DATA OUTSIDE THE EEA

In case of international transfers originating from the European Economic Area (EEA), where the European Commission has recognized a non-EEA country as providing an adequate level of data protection, your personal data may be transferred on this basis.

For transfers to non-EEA countries whose level of protection has not been recognized by the European Commission, we will either rely on a derogation applicable to the specific situation (e.g. if the transfer is necessary to perform our contract with you such as when making an international payment) or implement one of the following safeguards to ensure the protection of your personal data:

  • Standard contractual clauses approved by the European Commission;
  • Binding corporate rules

We may also, in specific situations, transfer your personal data on the basis of an exemption (for example, in the event of international payment or when the transfer is necessary for the performance of a contract).

To obtain a copy of these safeguards or details on where they are available, you can send a written request as set out in Section 9.

6 – HOW LONG DO WE KEEP YOUR PERSONAL DATA FOR?

We will retain your personal data for the longer of the period required in order to comply with applicable laws and regulations or another period with regard to our operational requirements, such as proper account maintenance, facilitating client relationship management, and responding to legal claims or regulatory requests.

At Group Communications, your data will be kept for the duration of our relationship (for example, subscription to a newsletter) and kept for a maximum of 2 years after the end of this relationship. For prospects, information is kept for 2 years.

7- WHAT ARE YOUR RIGHTS AND HOW CAN YOU EXERCISE THEM?

Selon la législation applicable à votre situation, vous pouvez exercer les droits suivants :

  • To access: you can obtain information relating to the processing of your personal data, and a copy of such personal data.
  • To rectify: where you consider that your personal data are inaccurate or incomplete, you can require that such personal data be modified accordingly.
  • To erase: you can require the deletion of your personal data, to the extent permitted by law.
  • To restrict: you can request the restriction of the processing of your personal data.
  • To object: you can object to the processing of your personal data, on grounds relating to your particular situation. You have the absolute right to object to the processing of your personal data for direct marketing purposes, which includes profiling related to such direct marketing.
  • To withdraw your consent: where you have given your consent for the processing of your personal data, you have the right to withdraw your consent at any time.
  • To data portability: where legally applicable, you have the right to have the personal data you have provided to us be returned to you or, where technically feasible, transferred to a third party.

You also have a right of opposition, allowing you to object to the processing of your personal data for reasons relating to your particular situation. You have the absolute right to object at any time to your data being used for commercial prospecting purposes, or for profiling purposes if this profiling is linked to commercial prospecting.


If you wish to exercise the rights listed above, please send a letter to the following address:

https://www.bnpparibas.ca
Permanent Control – Right Management
Group Communications
Code ACI : CAT06A1
16 rue de Hanovre 75002 Paris – France

Please include a scan/copy of your identity card for identification purpose.

In accordance with applicable regulation, in addition to your rights above, you are also entitled to lodge a complaint with the competent supervisory authority.

8 – HOW CAN YOU KEEP UP WITH CHANGES TO THIS DATA PROTECTION NOTICE?

In a world of constant technological changes, we may need to regularly update this Data Protection Notice.

We invite you to review the latest version of this notice online and we will inform you of any material changes through our website or through our other usual communication channels.

9 – HOW TO CONTACT US?

If you have any questions relating to our use of your personal data under this Data Protection Notice, please contact our data protection officer correspondent:

Permanent Control – Data Protection Notice
Group Communications
Code ACI : CAT06A1
16 rue de Hanovre 75002 Paris – France


He/She will investigates your query.

If you wish to learn more about cookies, please read our cookies policy.

  • Data Protection notice BNP Paribas Group

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Notice: Inactive Accounts

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This document provides information regarding accounts, deposits or instruments in Canadian dollars* (an “Account ”) held with BNP Paribas, in Canada, and which remain inactive for periods of two, five and nine years.

The Bank Act (Canada) requires that any financial institution sends an inactive account notice in writing to the holder, beneficiary or owner of an Account, after periods of two, five and nine years of inactivity of an Account.

If you have received such a notice in relation to an inactive Account held with BNP Paribas, in Canada (or with its affiliate formerly known as “BNP Paribas (Canada)”, now transferred to or assumed by BNP Paribas) (the “Bank”), please note that:

  • Interest on deposits, if any, will be paid until the Account is closed; and
  • Fees applicable to the Account, if any, will be charged and debited until the Account is closed.

For any question on an inactive Account, or to obtain information on the presentation of a request for payment relating to an inactive Account, you may contact our Client Service team as follow:

BNP Paribas
Client Service
2001 Robert Bourassa, suite 900 Montréal, Québec, H3A 2A6
Telephone: (514) 285-3433
Email: Canada.customerservice@americas.bnpparibas.com

After a period of ten years of inactivity, and as provided in the Bank Act (Canada), any unclaimed balance relating to an inactive Account will be transferred by the Bank to the Bank of Canada (the “Unclaimed Balance”), which will act as the sole manager of the funds; the inactive Account will then be closed by the Bank.

For more information on how to retrieve an Unclaimed Balance held by the Bank of Canada, you may contact the Bank of Canada as follow:

Bank of Canada – Unclaimed Balances Services
234, Wellington Street Ottawa (Ontario) K1A 0G9
Telephone: 1-800-303-1282
Email: info@banqueducanada.ca
Web Site: https://www.bankofcanada.ca/unclaimed-balances/

*This document does not cover “inactive” accounts, deposits or instruments in currencies other than the Canadian dollar.

  • Notice: Inactive Accounts

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Information regarding complaints

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Annual information: information regarding complaints according to Complaints (Banks, Authorized Foreign Banks and External Complaints Bodies) Regulations (SOR/2013-48)

An authorized foreign bank must make the following information available to the public on an annual basis#
The number of complaints that were dealt with by the officer or employee designated by authorized foreign bank to deal with complaints who holds the most senior position identified for that purpose in the procedures established by the authorized foreign bank0
The average length of time taken by that officer or employee to deal with the complaintsN/A
The number of complaints that, in the opinion of the authorized foreign bank, were resolved by that officer or employee in accordance with those procedures to the satisfaction of the persons who made the complaintsN/A

For any questions in regards to a claim or complaint you may have, you may contact directly the Chief Compliance Officer:

Mr. Michel Allen
Telephone: (514) 285-6102
2001 Robert Bourassa, suite 900 Montréal, Québec, H3A 2A6
Email: michel.allen@ca.bnpparibas.com

You may also contact at any time:

Financial Consumer Agency of Canada
Telephone: 1 (866) 461-3222
427, Laurier Avenue West, 6th Floor Ottawa (Ontario) K1R 1B9
Web Site: https://www.fcac-acfc.gc.ca

  • Information regarding complaints

    pdf – 279 KB

Code of Conduct SME

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Date created: February 2007 – Date updated: March 2021

BNP Paribas, Canada Branch and some of its Canadian affiliates namely: Corporation BNP Paribas Canada, BNP Paribas (Canada) Securities Inc. and BNP Paribas IT Solutions Canada Inc. (collectively hereafter « the Bank ») have established this Code of Conduct for maintaining healthy and effective relationships with small and medium-sized businesses*.

However, this Code in no manner limits the legal rights of the business or of the Bank.

This Code is available at all branches of the Bank, to all small or medium-sized businesses seeking to establish a business relationship with the Bank. It is also available with the Financial Consumer Agency of Canada.

This Code does not apply to BNP Paribas Leasing Solutions Canada Inc.

*For purposes of opening a deposit account, a small or medium-sized business is one with revenues less than CAD 300 million. For purposes of granting credit, a small-sized business is one granted a credit limit by the Bank as first banker, up to CAD 500,000; a medium-sized business is one granted a credit limit by the Bank as first banker, up to CAD 1,000,000.

CLEAR COMMUNICATION

The Bank promotes honest and open communication with its clients. To this end, the Bank’s documents, including forms and contracts, are written in clear and understandable language.

This Code also serves to establish open communication in the customer-bank relationship, by specifying the responsibilities and expectations of both the Bank and the client.

STARTING A RELATIONSHIP

For every business which seeks to deal with the Bank, a Relationship Manager is assigned by name. The Relationship Manager responds to the request for service and oversees the relationship if the business becomes a client of the Bank.

Opening an account

To open an account, a client must provide information and fill out and sign the necessary Bank forms, depending on the nature of the business relationship to be established between the Bank and the client. The Relationship Manager assists the client by providing him/her with all information deemed necessary, and helping him/her fill out and sign the required documentation.

When an account is opened, the client is provided with the brochure « Complaint handling procedure and mandatory notices and disclosures », which includes the customer complaint resolution procedure. The purpose of this brochure is to help establish clear communication from the outset, between the Bank and its client.

CREDIT PROCESS

Any credit application by a business must go through a review and authorization process.

To help establish open communication, the business’s credit application is analyzed on the basis of documents requested by the Bank and provided by the business, and of any other diligent verification carried out by the Bank.

The Relationship Manager informs the business of the credit application process, and of the information and documentation which must be provided, including a business plan; the Bank may then consider the credit application and any collateral which may be required to secure the credit before it is granted. The business plan is essential to determine the strategic orientation of any business, as well as, among other things, its financial needs. Information and a guide for the preparation of a business plan are accessible on the Internet website of Industry Canada at www.ic.gc.ca.

The Relationship Manager provides the business with an estimate of how long it should take to process the credit application and receive a decision from the Bank.

The Relationship Manager analyzes the credit application and, if it is to his satisfaction, forwards it for authorization to relevant decision-makers, in accordance with the Bank’s credit authorization process.

Each credit application is judged on its own merits.

Approval of the credit application

If the credit application is approved, the Relationship Manager informs the business of the terms and conditions of the credit, including any collateral which must be provided to secure the credit.

A credit agreement is then prepared which reflects the credit authorization and its terms and conditions, and specifies the information and documents which must be provided both before and after the credit is granted.

If Credit is declined

If the credit application is declined, the Relationship Manager informs the business of the decision and of the main reason(s) for the decision, as well as of any requirements necessary for the Bank to reconsider the credit application. The Relationship Manager also provides the business with information the Bank may have, on alternative sources of financing which may be available to the business, depending on the nature of the credit application.

Changing circumstances in the Credit relationship

The credit agreement between the Bank and the client specifies that the Bank reserves the right to review terms and conditions of the credit, should the financial situation or business of the client evolve unfavorably. Under such circumstances, the Bank may deem it necessary to obtain additional information, which the Bank will give the client reasonable opportunity to provide.

The Bank examines such circumstances carefully before making any changes and ending its business relationship with the client, in which case the Bank usually gives the client at least 15- calendar days’ notice before taking any intended action. This delay may be shorter if circumstances so warrant. In cases involving fraud or other offences, the Bank may act immediately.

Furthermore, the policy of the Bank is to agree to any changes with the client, in particular when changes are made to conditions, fees and other terms of the credit, which changes affect the bank-client credit relationship.

RESPONSIBILITY

Every Relationship Manager must ensure, within the scope of his/her duties, that principles set out in this Code are applied.

Compliance is also responsible for ensuring that this Code is applied and followed by all Bank employees.

This Code of Conduct is provided to the Financial Consumer Agency of Canada, which is responsible for monitoring the application of voluntary codes of conduct by financial institutions.

COMPLAINT HANDLING

The Bank has established a customer complaint resolution procedure. All clients are informed of this procedure in the brochure « Complaint handling procedure and mandatory notices and disclosures ».

This procedure provides clients with the information they need to use the complaint resolution mechanism, for any general complaint or if they believe the Bank has not met the standard of conduct outlined in this Code.

The objective of the Bank is to acknowledge any complaint as quickly as possible and inform the client of approximately how long it will take to answer the complaint. The Bank informs the client of the decision taken regarding the complaint and of any reason(s) for the Bank’s decision if the complaint is not resolved to the satisfaction of the client.

If the client remains dissatisfied, he/she may take the complaint to the Ombudsman for Banking Services and Investments.

The client may also communicate with:

Financial Consumer Agency of Canada
427 Laurier Avenue West, 6th floor Ottawa, Ontario, K1R 1B9
Telephone (toll free): 1 866 461-2232
Fax: +1 866 814-2224
Web site: https://www.fcac-acfc.gc.ca

It is important to the Bank that its business relationship with any small or medium-sized business be privileged and mutually agreeable.

  • Code of Conduct SME

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Bearer Deposit Note

Information Memorandum

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INFORMATION MEMORANDUM

BNP PARIBAS, ACTING THROUGH ITS CANADA BRANCH

Bearer Deposit Notes

June 1st 2021

This Information Memorandum does not constitute or form part of any offer or invitation to sell these Bearer Deposit Notes or any solicitation of any offer to purchase these securities for offer or sale outside of Canada.

This Information Memorandum does not in any way obligate BNP Paribas, acting through its Canada Branch to accept an offer to purchase any of the Bearer Deposit Notes.

THE CANADA BRANCH OF BNP PARIBAS

BNP Paribas SA, a bank governed by the laws of the French Republic, having its head office in Paris, France (“BNP Paribas”), is authorized to carry on business in Canada pursuant to the Bank Act (Canada). It has established a branch in Canada (a “Schedule III bank” under the Bank Act (Canada)) having the right to operate since January 1st, 2014. It is a “Full Service” Foreign bank branch. Its primary supervisor, the European Central Bank, is responsible for the supervision of the total business and affairs of BNP Paribas. Its business in Canada is supervised by the Office of the Superintendent of Financial Institutions. The branch is operating under the name of “BNP Paribas” (“BNP Paribas Canada Branch“).

As a branch of BNP Paribas, BNP Paribas Canada Branch is not a subsidiary of BNP Paribas or a separate legal entity from BNP Paribas. Please refer to www.bnpparibas.ca for further additional information. Deposits with BNP Paribas are not insured by the Canada Deposit Insurance Corporation.

The principal office of BNP Paribas Canada Branch is located at 2001 Robert-Bourassa Blvd., Montreal, Quebec H3A 2A6.

BNP PARIBAS GROUP

BNP Paribas is a French multinational bank and financial services company with its registered office located at 16 boulevard des Italiens 75009 Paris, France, and its corporate website in English is http://www.bnpparibas.com/en.

BNP Paribas, together with its consolidated subsidiaries (the “BNP Paribas Group“) is a global financial services provider, conducting retail, corporate and investment banking, private banking, asset management, insurance and specialized and other financial activities throughout the world.

The BNP Paribas Group, one of Europe’s leading providers of banking and financial services, has four domestic Retail Banking Markets in Europe, namely in France, Belgium, Italy and Luxembourg.

It operates in 68 countries and has more than 193,000 employees, including nearly 148,000 in Europe. BNP Paribas holds key positions in its two main businesses:

  • Retail Banking and Services, which includes:

o Domestic Markets, comprising:

– French Retail Banking,
– BNL banca commerciale, Italian Retail Banking,
– Belgian Retail Banking,
– Other activities including Arval, BNP Paribas Leasing Solutions, BNP Paribas Personal Investors, Nickel and Luxembourg Retail Banking;

o International Financial Services, comprising:

– International Financial Services, comprising:
– Europe-Mediterranean,
– Bank of the West,
– Personal Finance,
– Insurance,
– Wealth and Asset Management;

  • Corporate and Institutional Banking:

– Corporate Banking,

– Global Markets,

– Securities Services,

BNP Paribas is the parent company of the BNP Paribas Group.

At 31 December 2020, the BNP Paribas Group had consolidated assets of €2,488 billion (compared to €2,165 billion at 31 December 2019), consolidated loans and receivables due from customers of
€810 billion (compared to €806 billion at 31 December 2019), consolidated items due to customers of €941 billion (compared to €835 billion at 31 December 2019) and shareholders’ equity (Group share) of €112.8 billion (compared to €107.5 billion at 31 December 2019).

At 31 December 2020, pre-tax income was €9.8 billion (compared to €11.4 billion as at 31 December 2019). Net income, attributable to equity holders, in 2020 was €7.1 billion (compared to €8.2 billion in 2019).

At the date of this Information Memorandum, BNP Paribas currently has Long Term Senior Preferred debt ratings of “A+” with negative outlook from Standard & Poor’s, “Aa3” with stable outlook from Moody’s and “AA-” with negative outlook from Fitch and “AA (low)” with stable outlook from DBRS.

The information concerning BNP Paribas and the BNP Paribas Group contained herein is furnished solely to provide limited introductory information regarding BNP Paribas and the BNP Paribas Group and does not purport to be comprehensive.

The delivery of the information contained in this section shall not create any implication that there has been no change in the affairs of BNP Paribas or the BNP Paribas Group since December 31st, 2020, or that the information contained or referred to in this section is correct as of any time subsequent to this date.

For up-to-date financial information, including quarterly results since the last fiscal year end, please refer to https://invest.bnpparibas.com/en.

DESCRIPTION OF BEARER DEPOSIT NOTES

Issuer

BNP Paribas, acting through its Canada Branch (“Issuer”).

Description

Bearer Deposit Notes are offered to purchasers in Canada at a discount to mature at their principal amount.

Principal Amount / Denominations

$1,000,000 principal amount and integral multiples thereof in Canadian dollars (CAD) or US dollars (USD).

Currency

All references to dollar amounts in this Information Memorandum are references to Canadian dollars, unless stated otherwise.

Term

Up to 365 days from date of issue.

Issue Price

The Bearer Deposit Notes will be issued at a discount to their principal amount.

Minimum Initial Purchase

$1,000,000 principal amount.

Minimum Secondary Market Purchase

$1,000,000 principal amount.

Form

The Bearer Deposit Notes are fully negotiable and transferable via CDS Clearing and Depository Services Inc. (“CDS”). Bearer Deposit Notes will be issued in “book entry only” form (“Book Entry Notes”) and must be purchased or transferred through participants (“Participants”) in CDS, including investment dealers, banks and trust companies, or through other institutions that maintain custodial relationships with a Participant, either directly or indirectly.

Each purchaser of a Book Entry Note will receive a customer confirmation of purchase from the Participant from whom such Book Entry Note is purchased in accordance with the practices and procedures of that Participant.

Neither the Issuer nor the Participants will assume any liability for: (a) any aspect of the records relating to the beneficial ownership of the Book Entry Notes held by CDS or the payments relating thereto; (b) maintaining, supervising or reviewing any records relating to the Book Entry Notes; or (c) any advice or representation made by or with respect to CDS including those contained in this Information Memorandum and relating to the rules governing CDS or any action to be taken by CDS or at the direction of its Participants.

The Issuer will have the option to terminate the book entry system through CDS, in which case Bearer Deposit Notes in certificated registered form will be issued to holders of Book Entry Notes or their nominees.

Book Entry Notes will be subject to the Depository Bills and Notes Act (Canada).

Status of Bearer Deposit Notes

The Bearer Deposit Notes constitute deposit liabilities of the Issuer, are unsecured, and rank and will rank pari passu and without any preference among themselves and equally and rateably with the Issuer’s other, present or future unsubordinated and unsecured obligations, subject to such exceptions as are from time to time, mandatory under applicable law.

Statutory Write-down or Conversion

a) Acknowledgement

By its acquisition of the Bearer Deposit Notes, each purchaser (“Noteholder”) (which, for the purposes of this provision, includes any current or future holder of a beneficial interest in the Bearer Deposit Notes) acknowledges, accepts, consents and agrees:

1) to be bound by the effect of the exercise of the Bail-in Power (as defined below) by the Relevant Resolution Authority (as defined below), which may include and result in any of the following, or some combination thereof:

(i) the reduction of all, or a portion, of the Amounts Due (as defined below);

(ii) the conversion of all, or a portion, of the Amounts Due (as defined below) into shares, other securities or other obligations of the Issuer or another person (and the issue to the Noteholder of such shares, securities or obligations), including by means of an amendment, modification or variation of the terms of the Bearer Deposit Notes, in which case the Noteholder agrees to accept in lieu of its rights under the Bearer Deposit Notes any such shares, other securities or other obligations of the Issuer or another person;

(iii) the cancellation of the Bearer Deposit Notes; and/or

(iv) the amendment or alteration of the maturity of the Bearer Deposit Notes or of any provision thereof;

2) that the terms of the Bearer Deposit Notes are subject to, and may be varied, if necessary, to give effect to, the exercise of the Bail-in Power by the Relevant Resolution Authority (each as defined below).

For these purposes, the “Amounts Due” are the amounts payable on each Bearer Deposit Note that has not been previously cancelled or is otherwise no longer due.

b) Bail-in Power

For these purposes, the “Bail-in Power” is:

(i) any power existing from time to time under any laws, regulations, rules or requirements in effect in France, relating to the transposition of Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms (as amended from time to time, the “BRRD“), including without limitation pursuant to French decree-law No. 2015-1024 dated 20 August 2015 (Ordonnance portant diverses dispositions d’adaptation de la législation au droit de l’Union européenne en matière financière) (as amended from time to time, the “20 August 2015 Decree Law“);

(ii) Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010 (as amended from time to time, including by Regulation (EU) 2019/877 dated 20 May 2019, the “Single Resolution Mechanism Regulation“); or

(iii) otherwise arising under French law, and in each case the instructions, rules and standards created thereunder, pursuant to which the obligations of a Regulated Entity (or an affiliate of such Regulated Entity) can be reduced (in part or in whole), cancelled, suspended, transferred, varied or otherwise modified in any way, or securities of a Regulated Entity (or an affiliate of such Regulated Entity) can be converted into shares, other securities, or other obligations of such Regulated Entity or any other person, whether in connection with the implementation of a bail-in tool following placement in resolution or otherwise.

A reference to a “Regulated Entity” is to any entity referred to in Section I of Article L.613- 34 of the French Code Monétaire et Financier, as modified by the August 20, 2015 Decree-Law which includes certain credit institutions, investment firms, and certain of their parent or holding companies established in France. BNP Paribas is a Regulated Entity.

A reference to the “Relevant Resolution Authority” is to the Autorité de contrôle prudentiel et de résolution, the Single Resolution Board established pursuant to the Single Resolution Mechanism Regulation, and/or any other authority entitled to exercise or participate in the exercise of any Bail-in from time to time (including the Council of the European Union and the European Commission when acting pursuant to Article 18 of the Single Resolution Mechanism Regulation).

c) Payment of any Outstanding Amounts Due

No repayment or payment of the Amounts Due will become due and payable or be paid after the exercise of the Bail-in by the Relevant Resolution Authority with respect to the Issuer unless, at the time such repayment or payment, respectively, is scheduled to become due, such repayment or payment would be permitted to be made by the Issuer under the laws and regulations in effect in France and the European Union applicable to the Issuer or other members of its group.

d) No Event of Default

Neither a cancellation of the Bearer Deposit Notes, a reduction, in part or in full, of the Amounts Due, the conversion thereof into another security or obligation of the Issuer or another person, as a result of the exercise of the Bail-in Power by the Relevant Resolution Authority with respect to the Issuer, nor the exercise of any Bail-in Power by the Relevant Resolution Authority with respect to the Bearer Deposit Notes will be an event of default or otherwise constitute non- performance of a contractual obligation, or entitle the Noteholder to any remedies (including equitable remedies or damages) which are hereby expressly waived.

e) Notice to Noteholders

Upon the exercise of any Bail-in Power by the Relevant Resolution Authority with respect to the Bearer Deposit Notes, the Issuer will provide a written notice of same to the Noteholders as soon as practicable and through the relevant means at its disposal. The Issuer will also deliver a copy of such notice to CDS for information purposes, although CDS shall not be required to send such notice to Noteholders. Any delay or failure by the Issuer to give notice shall not affect the validity and enforceability of the Bail-in Power nor the effects on the Bearer Deposit Notes described above.

f) Prorating

If the Relevant Resolution Authority exercises the Bail-in Power with respect to less than the total Amounts Due, any cancellation, write-off or conversion made in respect of the Bearer Deposit Notes pursuant to the Bail-in Power will be made on a pro-rata basis.

g) Conditions Exhaustive

The matters set forth in here above shall be exhaustive on the foregoing matters to the exclusion of any other agreements, arrangements or understandings between the Issuer and any holder of a Bearer Deposit Note.

Not CDIC

Insured The deposits evidenced by the Bearer Deposit Notes are not insured or guaranteed by the Canada Deposit Insurance Corporation or any other governmental agency.

Delivery and Payment

Delivery of Book Entry Notes will be made in accordance with the rules established by CDS. CDS will pay the holder of a Bearer Deposit Note on the maturity date.

Governing Law

The Bearer Deposit Notes will be governed by the laws of Quebec and the federal laws of Canada applicable therein.

RATINGS

The Issuer does not have a specific rating for its Bearer Deposit Notes, and benefits. for its activities in Canada, from BNP Paribas’s ratings. BNP Paribas’s current general ratings are available on: https://invest.bnpparibas.com/en/debt-ratings.

A credit rating or a stability rating is not a recommendation to buy, sell or hold any debt instrument and may be subject to revision or withdrawal at any time by the credit rating organization.

PRINCIPAL OFFICE IN CANADA

BNP Paribas, Canada Branch has offices in Quebec and in Ontario. It’s principal office is located in Quebec at the following location:

2001, Robert-Bourassa Blvd. Montreal, QC – Canada
Phone: 514-285-6000
Fax: : 514-228-3877

  • SPECIMEN INSTRUMENT: BEARER DEPOSIT NOTES IN CANADIAN DOLLARS

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  • Bearer Deposit Note Information Memorandum

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