Voluntary Codes of Conduct and Public Commitments
Voluntary Codes of Conduct and Public Commitments are commitments, voluntarily made by companies, associations, and other organizations. B M O Financial Group has participated in the development and is committed to the following Voluntary Commitments and Codes of Conduct that are designed to protect consumers.
To read each code in full, click on a code title. For more information please visit the Voluntary Codes and the Public commitments from the FCAC (Government of Canada) site .
- Code of Conduct for the Delivery of Banking Services to Seniors (314 KB - PDF) The Code of Conduct sets out principles that apply to banks to guide them when they deliver banking products and services to Canada's seniors. The principles cover topics such as policies and procedures, effective communication, training, and resources for employees and representatives.
- B M O’s Adherence to the Code of Conduct for the Delivery of Banking Services to Seniors (175 KB - PDF) B M O’s actions which comply with the code of conduct principles to deliver enhanced banking products and services to our senior customers.
- Code of Conduct for Federally Regulated Financial Institutions – Mortgage Prepayment Information (29 KB - PDF) The Bank ensures enhanced information is available to assist borrowers in making decisions about mortgage prepayment.
- Canadian Code of Practice for Consumer Debit Card Services (58 KB - PDF) This code of conduct is designed to protect Canadian consumers who use debit card services. It outlines industry practices and consumer/industry responsibilities in relation to debit card transactions and liability.
- CBA Code of Conduct for Authorized Insurance Activities (39 KB - PDF) 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.
- Code of Conduct for the Payment Card Industry of Canada (enhanced October 30, 2024) (249 KB - PDF) This code of conduct applies to debit and credit card networks and their participants. It outlines payment card networks operators’ responsibilities for providing information, flexibility, and choice to merchants.
- Model Code of Conduct for Bank Relations with Small- and Medium-Sized Businesses (37 KB - PDF) 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.
- Principles of Consumer Protection for Electronic Commerce: A Canadian Framework (156 KB - PDF) These principles are intended to guide the actions of businesses, consumers and governments in Canada in developing a consumer protection framework for electronic commerce over open networks, including the Internet. The framework also clarifies the responsibilities associated with the service.
- Commitment to Provide Information on Mortgage Security (57 KB - PDF) The Bank is committed to set out the nature of the information about mortgage security that banks will provide to consumers shopping for a mortgage to obtain funds for the purchase of a residential property, and when they will provide that information, so that, before finalizing their choice of product, consumers have enough information to understand the implications of their choice.
- Commitment on Powers of Attorney and Joint Deposit Accounts (77 KB - PDF) This public commitment sets out the information about Powers of Attorney that banks will make available to clients who want to give someone else the authority to do banking for them. The Commitment also sets out information that the banks will make available to their clients about joint deposit accounts.
- Commitment on the Expansion of Low-Cost and No-Cost Bank Accounts (60 KB - PDF) Several Canadian banks committed to enhance their low-cost bank accounts and offer no-cost accounts with the same features as low-cost accounts to a wider range of eligible consumers. No-cost accounts will be available to youth, students, seniors qualifying for the Guaranteed Income Supplement, and Registered Disability Savings Plan beneficiaries. This will ensure that Canadians have access to affordable banking services.
- Commitment on Modification or Replacement of Existing Products & Services (12 KB - PDF) The Bank is committed to set out procedures when modifying or replacing existing personal products or services.
- Guidelines for Transfers of Registered Plans (25 KB - PDF) A commitment outlining the maximum amount of time that banks may require when transferring a registered savings plan (RSP) containing deposit type instruments, mutual funds or securities between financial institutions.
- Online Payments (16 KB - PDF) This public commitment outlines consumer and industry responsibilities related to the use of online payment systems in Canada. A process for dealing with disputes is included in the commitment.
- Plain Language Mortgage Documents - CBA Commitment (57 KB - PDF) The Bank is committed to improve the understandability of residential mortgage documents.
- Mastercard – Zero Liability (47 KB - PDF) Information regarding consumer’s liability in the event of the unauthorized use of your Canadian-issued Mastercard card.
- Visa – Zero Liability (21 KB - PDF) Information regarding consumer’s liability in the event of the unauthorized use of your Canadian-issued Visa card.
- Undertaking – Principal Protected Notes (16 KB - PDF) Describes the rescission rights available to clients who purchase any principal protected note by electronic means and/or by telephone.