Terms of use - La Capitale Stow & Grow Account

Deposit Insurance – Protecting your deposits

La Capitale Civil Service Insurer Inc. is registered in Quebec under the Deposit Insurance Act with the Autorité des marchés financiers. Under the Act, we are authorized to solicit and receive deposits of money from the public in Quebec only.

Your La Capitale Stow & Grow Account

1. General provisions

The following pages contain important information regarding your La Capitale Stow & Grow Account. Please read them carefully. If you have any questions, please call us at 418 747-7603 or 1 855 747-2233 (toll-free) and we will be happy to answer them.

By opening a La Capitale Stow & Grow Account at La Capitale, you confirm your acceptance of the terms and conditions below.

2. Our definitions

The terms "you", "your" and "account holder" mean any individual who opens a La Capitale Stow & Grow Account.

The term "account" means each La Capitale Stow & Grow Account you hold at La Capitale.

The terms "we", "our" and "La Capitale" mean La Capitale Civil Service Insurer Inc.

The term "claim" means any claim, loss, demand, legal action, damage, expense or liability, including interest and reasonable costs.

3. Account opening

3.1 Requirements to open your account

This account is available to individuals residing in Quebec only. We do not allow the opening of an account by an individual on behalf of another individual, transactions carried out on another individual's account and opening an account in more than one individual's name. Furthermore, you represent and agree that the account will not be used by or on behalf of any individual other than yourself.

In order for us to open your account and for you to carry out transactions, you must, at all times, hold an account in Canadian dollars at another Canadian financial institution (hereinafter referred to as an "external account"). The external account will be linked to your account and your deposit and withdrawal transactions will be carried out through that account. You may replace this account at any time with another external account held at a Canadian financial institution by following the procedure set out on our website at www.lacapitale.com. However, you may not have more than one external account linked to your account at the same time.

Holding an external account and keeping it open at all times is a key requirement in establishing and maintaining your account at La Capitale and we reserve the right to close your account at any time, without notice, if this requirement is not met.

3.2 Account holder identification measures

As a security measure and in order to comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act(Canada) and applicable regulations related to money laundering, we must be able to confirm the existence of your external account. To enable us to do so, you must send us a personal encoded cheque drawn on your external account for your initial deposit. By submitting your initial deposit cheque, you agree that all of your transactions with La Capitale, after it has cleared, may be carried out in accordance with the instructions that you send us via one of the methods authorized by La Capitale. You also agree that all transactions made via telephone, Internet or any other mode of communication, electronic or otherwise, shall have the same legal force as if you had authorized them in writing.

Furthermore, in accordance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada) and any other applicable legislation you authorize us to verify your identity and agree to provide all necessary information and documentation that we may request for this purpose. You also authorize us to verify information provided to us by you through a credit reporting agency, credit rating agency or any other company providing similar services.

You acknowledge that your account cannot be opened if these requirements have not been met and you agree to waive all interest on the amounts deposited in your account, as well as all other earnings on the account, until these requirements are met to our satisfaction.

You further acknowledge that, notwithstanding the foregoing, we are under no obligation to open an account for you.

We reserve the right to comply with any third party demand such as requests for payment or information which have been issued under federal or provincial legislation or any court order we receive in respect of your account. You agree that we will not be liable to you in any way for complying with any such third party demands or court orders issued on or against your account.

3.3 Authorization in accordance with Canadian Payments Association rules

By opening your account and providing an initial deposit cheque drawn on your external account held at another Canadian financial institution, you agree that this authorization is provided to the other Canadian financial institution and authorize us to process funds transfer requests against your account in accordance with the rules of the Canadian Payments Association. You assure us that you are the individual who has signed the account opening application and has agreed to the terms and conditions herein and that you are also the signatory on the external account you hold at the other Canadian financial institution.

You acknowledge that this authorization is granted to La Capitale and the other designated Canadian financial institution in consideration of our acceptance to debit or credit, as applicable, your external account in accordance with the terms and conditions herein. This authorization applies only to the method of payment and does not otherwise have any bearing on any other agreement you may have with La Capitale. The Canadian financial institution at which you hold your external account is not required to verify that the debit transactions are drawn in accordance with this authorization.

By providing a cheque for the initial deposit on your external account, you are designating this external account as the one from which we are authorized to draw funds at your request. You agree to inform us, by telephone or any other means we may make available, of any change to the external account information provided before any request for the transfer of funds. You may cancel this authorization at any time by providing notice to us in writing. You agree that cancellation will take only effect upon receipt and processing of your written notice, which can take up to three (3) business days. The cancellation of this authorization does not terminate any other agreement that may exist between you and La Capitale.

Amounts debited from your account at the other financial institution that do not comply with this authorization will be reimbursed, on condition that you provide to the other financial institution, within 90 days following the debit transaction, a declaration stipulating that: a) the debit was not carried out in accordance with this authorization; b) you did not authorize the debit transaction; and c) you cancelled this authorization by providing notice prior to the date of the transaction in accordance with the stipulations set out in these Terms of Use.

You agree that this authorization also constitutes your authorization to the other Canadian financial institution.

4. Deposits and withdrawals

You may request or authorize withdrawals from your account through our website at www.lacapitale.com, by telephone or through any other means we may make available to you. You may use one of the following methods to carry out transactions on your account:

  • Via electronic funds transfer from your external account to your account or vice versa
  • By authorizing scheduled automatic deposits of funds to your account (see details below under "Scheduled transactions")
  • By enrolling in our payroll deduction service, provided you work in the Quebec public service or your employer has an agreement with La Capitale, to ensure that funds are automatically deposited into your account from your pay (see details below under "Payroll deduction")
  • By mailing a cheque drawn on your external account to 625 Jacques-Parizeau St., Quebec QC G1R 2G5
  • By any other means we may make available to you

We will only carry out electronic funds transfers to or from your external account. Funds will generally be available in the account in question within one (1) to three (3) business days following the transfer, subject to the hold funds period, which can prolong this timeframe. However, we are unable to guarantee the date on which funds will be available in your account or your external account, notwithstanding the above.

We may refuse a deposit into your account. Deposits and withdrawals made to and from your account may be cancelled if, for any reason whatsoever, the funds transfer request is refused by the other financial institution or if we are unable to complete the transfer. We are unable to offer or accept traveller's cheques, cash or coins of any kind. The dollar amount or other factors related to transactions or balances may be limited at the sole discretion of La Capitale, without notice. We may also make changes to the requirements or terms and conditions of funds transfers to or from your account in accordance with these Terms of Use.

You agree that all telephone calls and documentation of electronic correspondence may be recorded or saved as confirmation of your instructions.

5. Interest

Deposits in your account earn interest at a variable rate that can change at any time, without notice. This rate is published on our website at www.lacapitale.com. Interest applicable to your account is calculated daily on the closing balance and paid monthly.

6. Scheduled transactions

You can schedule your account transactions in advance. By authorizing such transactions, you allow La Capitale and the other financial institution to withdraw funds from your external account and deposit them into your account, in accordance with your instructions. By accepting these Terms of Use, you acknowledge that no notice will be given to you prior to the first scheduled transaction or when changing one or more scheduled transactions. You agree that we will send you written confirmation regarding these scheduled transactions four (4) days prior to the first scheduled withdrawal rather than fifteen (15) days in advance. Such written confirmation will be sent to you by mail if you make your request by telephone or electronically if you authorize your scheduled transactions via our website at www.lacapitale.com. This confirmation may therefore be sent to you more than four (4) days in advance, but it will never be sent less than four (4) days in advance.

You may cancel or change your scheduled transactions at any time by following the procedure set out on our website at www.lacapitale.com or by calling us at 418 747-7603 or 1 855 747-2233 (toll-free) at least four (4) business days prior to the next transaction. We will also carry out any written request to cancel or change a scheduled transaction if the request is made at least fifteen (15) days prior to the date of the next scheduled transaction.

7. Payroll deduction

If you are work in the Quebec public service or your employer has an agreement with La Capitale, you may request that a predetermined amount be systematically deducted from your pay and deposited directly into your account. By requesting a payroll deduction, you authorize your employer to withhold a pre-determined amount from your salary and remit it to La Capitale, which will in turn deposit it into your account.

8. Hold on deposited funds

We may place a hold on funds deposited into your account while a payment instrument is being cleared or settled by the financial institution from which the funds are being transferred. We shall place a hold on deposits for up to seven (7) business days if made by cheque, electronic funds transfer, or any other instrument during which time we shall postpone your right to withdraw the funds deposited.

9. Clearing, settlement and payment

We may present and deliver instruments for payment, clearing, collection, acceptance or otherwise through any bank, financial institution or other entity as we deem appropriate. The bank, financial institution or other entity shall be considered to be your agent and we will not, under any circumstances, be held liable to you for the acts or omissions of this bank, financial institution or other entity, however caused, in the performance of this service or for the loss, theft, destruction or delayed delivery of any instrument while in transit to or from, or in the possession of, this bank, financial institution or other entity. If we present an instrument to a bank, financial institution or other entity for payment on your behalf and the bank, financial institution or other entity refuses to recognize or provide payment on that instrument for whatever reason, you will remain responsible for the amount of that instrument deposited with La Capitale. Administrative fees may be charged for any instrument returned to us due to insufficient funds or for any other reason related to your external account.

10. Overdrafts as loans

If for any reason, including any measures that we may take, there is an overdraft in your account, the overdraft will be considered a loan made to you. We may also, at our discretion, choose not to authorize an overdraft for your account. If, however, we authorize an overdraft for your account, the overdraft will incur interest, as of the date the overdraft is applied, at La Capitale's prime rate plus 4%. This rate is variable and interest is calculated daily on your closing balance. You must repay the amount of any overdraft that we may authorize, as well as the related interest, upon request.

11. Evidence regarding electronic communication

A copy of any electronic communication will be admissible in any legal, administrative or other proceedings as conclusive evidence of the contents of such communication in the same manner as an original document in writing and you agree to waive any right to object to the introduction of any copy of electronic communication in evidence.

At our discretion, we may accept your signature or other evidence of your acceptance of these Terms of Use received by facsimile, telephone or other electronic means as your original signature or acceptance.

12. Indemnity

You agree to indemnify us against any claims for which me may be held liable in connection with any services provided by us to you or any other action related to the account, including any claim resulting from our endorsement of a cheque or any other instrument arising out of a forged or unauthorized signature on that instrument or otherwise.

13. Updates of your personal information

You guarantee that all personal information and other information, including all documentation, you provided when opening the account is true and correct. You agree to notify La Capitale immediately, by telephone at 418 747-7603 or 1 855 747-2233 (toll-free), of any change to your personal information or other information, including any documentation, which you provided or of your inability to meet any commitment set out in these Terms of Use.

We reserve the right to place a hold on your account when we receive new or updated personal information concerning your account in order to verify such information. We may also request additional information, including personal information, or supporting documentation so that we can confirm that the updated or new information is true and correct. We reserve the right to maintain the hold on your account until this new information can be confirmed to our satisfaction.

14. Right of setoff

We reserve the right to use all of the funds in your account to settle any debts or other obligations you have towards La Capitale and any member company of La Capitale Financial Group, including repayment of any loans in the form of overdrafts.

15. Account closing

You may close your account at any time. In order to do so, call us at 418 747-7603 or 1 855 747-2233 (toll-free) in order to request the closing of your account. We also reserve the right to close your account at any time for any reason. When closing your account, we will return any balance on your account to you, subject to our rights of setoff.

16. Death

In the event of your death, we will put a hold on your account until we obtain the required legal documentation to our satisfaction in order to determine who is authorized to receive the balance of your account, if applicable, subject to our right of setoff.

17. Account statements and confirmation of transactions

We will provide you with monthly electronic account statements. You may view your account statements for up to 36 months by accessing your account from our website at www.lacapitale.com. You may also request that monthly paper account statements be mailed to you. Statements will be mailed to the most recent address in our files.

You may also view your account activity from our website at www.lacapitale.com or request a confirmation of your transactions by calling 418 747-7603 or 1 855 747-2233 (toll-free). You will receive a transaction confirmation number for each transaction carried out via our website or by telephone. It is very important that you note this confirmation number as it will be required to trace or correct a transaction if you should so request.

You agree to examine all of your transaction confirmations and account statements at least once every thirty (30) days and to notify us of any errors or omissions within thirty (30) days following the date of the account statement. We will consider your account statement to be accurate if we do not receive any notice from you within thirty (30) days of the date of the account statement for the transaction period of the error or omission in question. Following this 30-day account verification period, you are prohibited from making a claim and we will not be liable for any claim related to an erroneous entry or transaction on your account.

In spite of your obligation of verification and the timeframes for doing so, we may debit your account at any time for any amount that has been erroneously transferred to your account.

18. Protection of personal information

We know how important it is to keep your personal information confidential and secure. That is why we have adopted a Personal Information Protection Policy and implemented safeguards to protect your personal information. You can read our Personal Information Protection Policy on our website at www.lacapitale.com

The Insurer protects the confidentiality of your personal information, which it keeps in a folder named “Insurance, annuities, credit and associated financial services”. Your personal information is kept in this file and protected by the highest confidentiality standards.

Your personal information is stored at our head office. Only employees, mandataries, distribution partners (such as agents and their firms) and service providers have access to your personal information when such access is required to perform their duties, carry out their mandate or fulfil their service contract. In some cases, La Capitale may do business with service providers located outside of Canada. In this situation, some of your personal information may be transferred to another country where it is subject to the legislation in force in that country. All service providers, whether they are located in Canada or not, are required to protect your personal information in accordance with the policies and practices of La Capitale.

If you wish to access your file, you must submit your request in writing to the following address:

La Capitale Civil Service Insurer Inc.

Life and Health Insurance

Access to Information Service

Administration

625 Jacques-Parizeau St.

Quebec QC G1R 2G5

Tel.: 418 747-7603 or toll free: 1 855 747-2233

If some of your personal information is incomplete or inaccurate, you may submit a written request to La Capitale for a correction.

La Capitale is a member of La Capitale Financial Group Inc. comprising various companies which primarily operate in the financial services sector. With the goal of better serving its clients, La Capitale also enters your personal information (name, address, telephone number, email address) into the client files of La Capitale Financial Group Inc. so that the other member companies of La Capitale Financial Group Inc. can let you know about products and services that may be of interest to you.

La Capitale also uses this personal information for the same reasons. Most clients appreciate this information. If, however, you do not wish to receive this type of information, please let us know that you do not want us to enter your personal information in the client file mentioned above.

By agreeing to these Terms of Use, you consent to the collection, disclosure and use of your personal information in setting up and administering your account. You also authorize us to collect and use the information obtained about you from credit bureaus, credit reporting agencies or any other company offering comparable services, in order to verify your identity in accordance with the above stipulations.

We are under no obligation to confirm the identity of any individual who gives us instructions regarding your account using your password or access code. However, we may, at our sole discretion, require proof of identity for any individual who contacts us in order to provide instructions regarding your account and may, at our entire discretion, refuse any transaction on your account if we are not satisfied with the information obtained.

19. The Client Centre

In order to access your account online, you must use our Client Centre. You agree to read the terms of use for the Client Centre, which are available on our website at www.lacapitale.com, and agree to be bound by them.

You authorize us to accept any instructions sent via the Client Centre and are responsible for ensuring that these instructions are true, correct and complete.

In order to protect your personal information and assets, you must use an username and password to access the Client Centre. You must keep your password and username confidential at all times and you are fully responsible for taking all necessary measures to protect their confidentiality. You must notify us by telephone immediately of the loss, disclosure or inappropriate use of your password or username. You remain responsible for all transactions carried out on your account unless you have notified us otherwise by telephone.

20. Changes to these Terms of Use

We may change these Terms of Use, as well as the terms of use for our Client Centre, at any time and we reserve the right to add fees. These changes shall take effect thirty (30) days following the date notice is sent to you. Notice of changes may be distributed through our online or paper statements or posted on our website at www.lacapitale.com. If you access or leave funds in your account after the effective date of a change, this will signify your automatic acceptance of the change.

21. Limitation of liability

In meeting our obligations with regard to our services, you acknowledge and accept that our liability is limited.

Therefore, except in the case of gross negligence or wilful misconduct on our part, you agree that you may not make a claim for any amount or take any legal action against us whatsoever with regard to our obligations as set out in this agreement resulting from services we provide to you, regarding your account and its use, or any action we may carry out, including indirect, direct or consequential damage.

Accordingly, you acknowledge that we are in no way liable for the following:

  • Any delay in the execution of an instruction or failure to provide a service or give effect to an instruction, even if this results in you being unable to access your account.
  • Our failure to communicate with you in order to confirm an instruction, including a verbal, written or electronic instruction.
  • Any error or omission in your transaction statements after the expiry of a 30-day period following the date of the statement.
  • Any event resulting from your action or failure to comply with your obligations set out in this agreement, even if it is not your fault.
  • Erroneous acceptance of a cheque or other instrument.
  • Fraudulent use of our services or account by someone other than yourself using your password or username or by forging your signature, an instruction or an authorization.
  • The loss, disclosure or inappropriate use of your password or username before you have notified us.

However, if it is determined that we are liable to you for an error or omission indicated in one of your transaction statements, for which you notified us within thirty (30) days following the date on which the statement was issued for the transaction period, including any transaction following the date on which you notified us by telephone, in accordance with these Terms of Use, of the loss, disclosure or inappropriate use of your password or username, our liability shall not exceed the direct damages you incurred related to a loss of funds. This loss shall be calculated from the moment the funds should have been available to you up to the date on which they were available, or the date on which you reasonably should have discovered that the funds were not available, whichever is earlier.

22. Applicable legislation

These Terms of Use are governed by the laws of Quebec.

23. Currency

Your account is in Canadian dollars and all transactions must be carried out in Canadian dollars.

24. Complaints and questions regarding these Terms of Use

If you have any questions or would like to lodge a complaint regarding your account, please call us at 418 747-7603 or 1 855 747-2233 (toll-free). Most situations can be resolved with a simple telephone call.

If, however, you are not satisfied with the answers you receive by telephone, you may draft a written complaint and send it to us at:

La Capitale Civil Service Insurer Inc. Complaints Coordinator – La Capitale Stow & Grow Account
625 Jacques-Parizeau St.
Quebec QC
G1R 2G5
Telephone: 418 747-7603 or 1 855 747-2233

La Capitale Stow & Grow TFSA Account Terms and Conditions

At your request, we shall file an election with the Minister of National Revenue to register this arrangement as a Tax-Free Savings Account (hereafter referred to as the "TFSA") under the provisions of tax legislation. Effective immediately, the provisions below shall apply to this contract, in addition to the provisions applicable to the La Capitale Stow & Grow Account.

1. Purpose of agreement and exclusivity

This agreement, your application and the endorsements, if applicable, form an integral part of your TFSA agreement with La Capitale Civil Service Insurer Inc. (hereafter referred to as "La Capitale"), which is solely responsible for administering this TFSA plan.

La Capitale shall manage this TFSA arrangement exclusively for you as the holder. Only you may make contributions to the TFSA. Furthermore, while you are the holder of this TFSA, no person other than the holder or issuer of the TFSA shall have any rights regarding the amount or schedule of distributions or investments of funds.

2. Definitions

  • Tax legislation

The Income Tax Act of Canada (R.S.C. (1985), c.1 (5th supp.)), the Quebec Taxation Act (R.S.Q. c. I-3) and any other applicable provincial laws or regulations.
 

  • Spouse

Any person who is recognized to be the spouse or the common-law partner under the Income Tax Act of Canada.

3. Election

For the purposes of this contract, you have requested that La Capitale file an election with the Minister of National Revenue to register this arrangement as a Tax-Free Savings Account under the provisions of tax legislation.

4. Contributions

You may, within the limits set out in tax legislation, contribute to your TFSA by making a single payment, periodic payments or lump-sum payments. Subject to the exceptions set out in tax legislation, you are the only person who may contribute to your TFSA. All contributions you make to your TFSA shall be held on deposit by La Capitale. You shall be responsible for determining the maximum contribution amount that you are eligible to contribute to your TFSA for each tax year.

5. Excess contributions

If the contributions you make to your TFSA exceed the limits set out under Part XI.01 of the Income Tax Act, you shall be responsible for paying the taxes applicable to this excess for each month during which your TFSA has exceeded the limit. In such a case, distributions may be made from your TFSA in order to reduce the amount of taxes payable under Part XI.01 of the Income Tax Act.

6. Distributions and transfers

Subject to the provisions of this contract and the applicable tax legislation, you may request the total or partial withdrawal of amounts accumulated in your TFSA in satisfaction of all or part of your entitlements under the TFSA as the holder.

Subject to the provisions of this contract and the applicable tax legislation, you may also request the total or partial transfer of amounts accumulated in your TFSA to another Tax-Free Savings Account you may hold. Fees may apply to such a transfer.

7. Age and Social Insurance Number

In order for this arrangement to be eligible for a TFSA, you must be age 18 or older and have a valid Social Insurance Number at the time you request the TFSA account opening. The date of birth and Social Insurance Number you provided on your account opening application constitute an attestation on which La Capitale may rely and you shall be held responsible for any damage that may arise from a misrepresentation of your age or Social Insurance Number.

8. Precedence

In the event of a conflict, the terms and conditions applicable to the La Capitale Stow & Grow TFSA Account shall take precedence over the Terms of Use for the La Capitale Stow & Grow Account.