A little deduction, please...

Between work, home, daycare and hobbies, you may forget to pay a bill, or a cheque might "bounce" due to insufficient funds. The frantic pace of life leaves little time to tend to everything. That's why La Capitale offers you the payroll deduction service.

A Cheque… That's Expensive

Although using a cheque is practical in many cases, there are much more beneficial methods of payment. In fact, when you think about it, paying a bill at the counter or by cheque is expensive, both in dollars and time. Calculate the travel and the cost of the cheque, the stamp and the transaction. Now multiply this amount by the number of bills paid annually. Ouch...my budget!

The "PAD"

You can, in certain cases, facilitate the management of your accounts by using preauthorized debits (PADs). Periodically, the company debits your account for the amount you owe it. You save time, both by simplifying and by substantially reducing administrative fees. However, you need to continue to maintain strict control of your account to ensure there are sufficient funds.

Payroll Deduction

It makes perfect sense! With the preauthorized debit, you allow your bank account to be automatically debited, while, by opting for payroll deduction, you authorize a deduction at the source of your income, even before it is deposited to your account. This unique service allows you, free of charge, to spread out your annual premiums (life, health, car, property, etc.), to repay your loans and contribute to your RRSPs or to various investments. This makes managing your personal affairs much easier.

Who Can Take Advantage of Payroll Deduction?

To be able to take advantage of this method of payment, the decision rests with your employer. In the public and parapublic sectors, a large number of employers are enrolled in this service. Therefore, La Capitale clients working in these sectors can pay for their life, health, accident or car insurance, contribute to an RRSP or any other financial planning plan, and repay their mortgage, via payroll deduction. Better still, they can also budget the expenses related to their car (gas and maintenance) and the repayment of a personal loan, which are all services offered by La Capitale.

Are you a member of the Québec Civil Service?

Benefit from payroll deduction at no charge and take advantage of the expertise of a financial security advisor to develop your savings and investment strategy.