WEBSITE TERMS AND CONDITIONS
PLEASE READ THESE TERMS AND CONDITIONS OF USE CAREFULLY BEFORE USING CTFS.COM
Your use of CTFS.com (“the Website”) is subject to your agreement without change to the following terms and conditions (the "Terms and Conditions"). The Terms and Conditions, as amended from time to time (see Modification, below), govern your use of the Website. The Terms and Conditions replace all prior agreements between you and us governing your use of the Website. The Terms and Conditions do not replace any other agreements you have with us (now or in the future) governing an account or other services we may provide to you. Any agreement you have with us governing an account or such service will continue to apply to that account or service unless it conflicts with these Terms and Conditions, in which case the agreement governing such account or service will prevail to the extent of the conflict. You also agree to abide by and comply with all instructions we may provide to you from time to time in connection with accessing and using the Website. The Terms and Conditions are to be read by you together with any terms, conditions or disclaimers provided in the pages of this Website. In the event of a conflict, the terms, conditions or disclaimers in the pages of this Website will govern. If you do not accept the Terms and Conditions in their entirety, do not use the Website and do not take advantage of any of the services.
Canadian Tire
When used in these Terms and Conditions, the term “Canadian Tire” means Canadian Tire Bank and its affiliates.
“You” and “We”
“You” and “your” mean you, the individual user of the Website. “We”, “us” and “our” mean Canadian Tire.
Use of Website
Canadian Tire is not responsible to you or anyone else in any manner for direct, indirect, special, consequential, exemplary or punitive damages, however caused, arising out of your use of (or inability to use) the Website, its functions or content and/or any web browser (“Damage”), including out of any errors, inaccuracies, omissions or other defect in, the information contained within the Website and including if you transmit confidential or sensitive information to us or if we communicate such information to you at your request over the Internet, even if Canadian Tire or its representatives are advised of the possibility of such Damage. If, notwithstanding the foregoing, Canadian Tire or any of its suppliers or service providers should be found liable for any Damage, the liability of Canadian Tire and such third persons shall in no event exceed in the aggregate $250 CAD. Canadian Tire is not responsible for late, lost, incomplete, illegible, misdirected, or stolen messages or mail, unavailable network connections, failed, incomplete, garbled, or delayed computer transmissions, online failures, hardware, software, or other technical malfunctions or disturbances, or any other communications failures or circumstances affecting, disrupting, or corrupting communications. Canadian Tire assumes no responsibility, and shall not be liable for, any damages to, or viruses that may infect, your computer equipment or other property on account of your access to, use of, or browsing on ctfs.com or your downloading of any materials, data, text, images, video, or audio from ctfs.com. Any unauthorized use, downloading, re-transmission, or other copying or modification of Trade-marks (defined below) or other materials contained on the Website may be a violation of statutory or common law rights including applicable copyright, trademark, or other intellectual property laws or other laws, which could subject the violator to legal action. You may not frame or utilize framing techniques to enclose any Trade-Marks or other copyrighted material without Canadian Tire’s express written consent. You may not use any meta tags or any other hidden text utilizing the Trade-Marks and other copyrighted material without Canadian Tire’s express written permission. You agree that you will not use the Website or the services provided on it to: (i) misappropriate the intellectual property rights of Canadian Tire or its affiliates; (ii) attempt to deface, modify or manipulate the Website or employ any tactic to defeat or evade any security feature employed on the Website; (iii) misappropriate the identity of, or obtain any personal information about any other user of the Website or services, or any customer, vendor, dealer or employee of Canadian Tire; and (iv) modify, erase or damage any information contained on the Website or any computer hardware or information storage device owned or used by Canadian Tire. As an additional term and condition of use of the Website and services, you agree not to use any process, research method or tactic to recreate or replicate the features, functions or design of the Website or services through reverse engineering. The ctfs.com Website may not, in whole or in part, be copied, reproduced, republished, uploaded, posted, transmitted, or distributed without the written permission of Canadian Tire, except that you may download, display, and print the materials presented on ctfs.com for your personal, non-commercial use only. You must retain all copyright and trademark notices, including any other proprietary notices, contained in the materials. The use of such materials on any other website or in any environment of networked computers is prohibited. You are prohibited from contributing, posting, or transmitting any infringing, unlawful, threatening, libelous, defamatory, obscene, indecent, inflammatory, pornographic, or profane material or any material that could constitute or encourage conduct that would be considered a criminal offence, give rise to civil liability, or otherwise violate any law. In its sole discretion, in addition to any other rights or remedies available to Canadian Tire and without any liability whatsoever, Canadian Tire at any time and without notice may terminate or restrict your access to any component of ctfs.com.
Indemnification
You agree to indemnify and save harmless Canadian Tire, its suppliers and service providers and its and their respective officers, directors, employees, consultants, representatives, and agents from and against any claim, cause of action, or demand, including without limitation reasonable legal, accounting, and other professional fees, brought as a result of your use of the Website.
Website Usage Statistics
To continually improve the Website, we often collect statistics about how Website users are using our Website. The information collected may include your browser type and your operating system, as well as data such as the number and types of pages visited, and the length of time spent per page and on the Website overall. These usage statistics are only viewed in the aggregate and are not associated with you as an individual. We use this information for purposes such as improving pages within our Website.
Links to other Websites
This Website includes links to websites operated by subsidiaries and affiliates of Canadian Tire and to other web sites operated by Canadian Tire, and to websites operated by third parties. Links to other websites from this Website are for convenience only. No endorsement of any third party products, services or information is expressed or implied by any information, material or content referred to or included on, or linked from or to the Website. Canadian Tire will not be responsible for the content of any other websites and make no representation or warranty regarding any other websites or the contents or materials on such websites. If you decide to access other websites, you do so at your own risk. All links to the Website must be approved in writing by Canadian Tire.
Information
Facts, data, information and other contents contained in the Website are provided by Canadian Tire and other sources, including rate and fee information, are believed to be current and reliable when placed on the Website, but we cannot guarantee they are accurate, complete or current at all times. For example, rates, fees and information are subject to change at any time without notice, and rates and fees posted on the Website may not immediately reflect such changes. The information contained on the Website (a) is for informational purposes only, is not intended to provide specific legal, financial, accounting, tax or other advice for any individual or entity and should not be relied upon in that regard, (b) is not intended to be a comprehensive or detailed statement concerning the matters addressed, and (c) does not constitute an offer to buy or sell products or services of Canadian Tire. The information may be changed, withdrawn or terminated at any time without notice. Canadian Tire makes no warranty or representation that (i) no virus or other contaminating or destructive properties will be transmitted or that no damage will occur to your computer system, and (ii) information available on or through the Website is appropriate, accurate or available for use in any particular jurisdiction. Canadian Tire is not responsible in any manner for direct, indirect, special or consequential damages howsoever caused, arising out of the use of the Website. Canadian Tire expressly disclaims any duty to update or correct any information on the Website.
Availability of Canadian Tire Products and Services
Not all products and services that Website users may be interested in are available in all regions of Canada or to other country residents. Canadian Tire’s products and services are available in accordance with local law and only if they may be lawfully offered in any particular jurisdiction. All Canadian Tire products and services are subject to the terms of applicable agreements. All amounts and prices are in Canadian dollars.
Ownership
The website, its design, all text, graphics, content, video, audio, and the selection and arrangement thereof are the property of Canadian Tire Corporation, Limited and/or its suppliers and service providers.
Trade-Marks
Canadian Tire, ctfs.com, and all other Canadian Tire related Trade-Marks and design marks displayed on ctfs.com (collectively, the "Trade-Marks") are registered and common law Trade-Marks owned by Canadian Tire Corporation, Limited. The Trade-Marks of Canadian Tire Financial Services Limited, Canadian Tire Bank and MasterCard International Incorporated are used under license. Nothing contained on ctfs.com should be construed as granting, by implication or otherwise, any license or right to use any Trade-Marks, including the Trade-Marks, except with the express written permission of Canadian Tire or such other party that may own the applicable Trade-Marks.
®/™ Unless otherwise noted, all trademarks are owned by Canadian Tire Corporation, Limited are used under license.
Email Communications
Email communication including any information transmitted with it is intended only for the use of the addressee(s) and is confidential. If you are not an intended recipient or responsible for delivering a message to an intended recipient, any review, disclosure, conversion to hard copy, dissemination, reproduction or other use of any part of such communication is strictly prohibited, as is the taking or omitting of any action in reliance upon such communication. If you receive such communication in error or without authorization please notify us immediately by return e-mail or otherwise and permanently delete the entire communication from any computer, disk drive, or other storage medium. Unprotected communication by e-mail over the Internet is not confidential and may be intercepted or lost or possibly altered. You agree that Canadian Tire shall have no liability to you or to any one else in connection with an e-mail sent by you to Canadian Tire or an e-mail sent by Canadian Tire to you at your request.
For legal purposes, documents sent electronically to you (including by facsimile) will be considered to be “in writing” and to have been signed and/or delivered by us. We may rely upon and treat as duly authorized and binding on you any electronically authenticated document that we receive from you or which appears to have been sent by you.
Privacy
Please click on the following link to view our Privacy Charter. You acknowledge that you have read the Privacy Charter and agree that the terms of such communication are reasonable. You consent to the collection, use and disclosure of your personal information by Canadian Tire and/or its suppliers and service providers in accordance with the terms of and for the purposes set forth in the Privacy Charter.
Cookies
When you visit the Website, we may send a small text file containing a unique identification number, called a ‘cookie’. Cookies are used to track the activities of the web browser, such as date, time, duration and frequency of visits. The information is used to provide a more streamlined and consistent website-navigation experience. Cookies are not used to collect any information that will personally identify you. Cookies are widely-used, and most web browsers will accept them automatically. You may adjust your web browser settings to alert you about cookies being sent or to refuse cookies automatically. Please be advised that cookies are required to complete applications for products or services online and to use certain features such as My Online Account. If cookies are not enabled on your browser and you are in the process of completing an application, a session time-out message will appear when you click the "next" button to move to the next section of the application. If you prefer not to enable cookies on your browser, you can always complete an application for a product or service or obtain information about your account(s) by phone by calling toll-free 1-866-681-CTFS (2837).
FEEDBACK
Canadian Tire enables visitors to ctfs.com to provide Canadian Tire with feedback by email or otherwise ("Customer Content"). If you provide Customer Content you grant Canadian Tire a non-exclusive, royalty-free, perpetual, irrevocable, and fully sub-licensable right to use, delete, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, and display such Customer Content throughout the world in any media, now known or hereafter developed, and you waive any and all moral rights in the Customer Content. You also grant Canadian Tire the right to use the name you submit with the Customer Content, if any, in connection with Canadian Tire's rights hereunder.
Modification
Canadian Tire reserves the right, without notice, to make changes to the Website, including without limitation with respect to the content of this Website and products offered by Canadian Tire, and may at any time and from time to time modify these Terms and Conditions for the use of the Website. If you use the Website after the effective date of the change it will mean that you have agreed and consented to the change.
Additional Terms
Any agreement you have with us governing an account or other service we provide to you will apply to that account or service and all transactions and other activities relating to such account or service.
Severability
In the event that any provision of these Terms and Conditions is determined to be unenforceable or invalid in whole or in part, the affected portion of such provision will be deemed to be severed and the remaining provisions will continue to apply with full force and effect.
Headings
The headings used in these Terms and Conditions are included for convenience only and will not limit or otherwise affect these Terms and Conditions.
Entire Agreement
These Terms and Conditions, together with the Privacy Communication and Security Awareness, constitute the entire agreement between us relating to the subject matter hereof, and supersede any prior understandings or agreements (whether electronic, oral, or written) regarding such subject matter.
Governing Law
These Terms and Conditions and their performance will be governed by the laws in force in the Province of Ontario, Canada, without giving effect to any principles of conflicts of laws, and notwithstanding your domicile, residence or physical location. You consent and submit to the exclusive jurisdiction of the courts located in the City of Toronto, in the Province of Ontario, Canada, in all disputes arising out of or relating to the use of the Website and these Terms and Conditions. You may not use the Website in violation of Canadian export laws and regulations. If you access the Website from a location outside of Canada, you are responsible for compliance with all local laws. The United Convention on Contracts for the International Sale of Goods does not apply to this Agreement or any communication with or transaction through the Website.
The parties confirm that it is their express wish that this Agreement and all related documents be written in English.
Legal Demands, Family Support Orders and Provisions and Canada Revenue Agency Demands
In compliance with the Bank Act for Legal Demands, Family Support Orders and Provisions and Canada Revenue Agency Demands, the following office has been designated for service by Canadian Tire Bank:
Canadian Tire Bank
P.O. Box 3000
Welland, Ontario
L3B 5S5
HOLDS ON FUNDS
Since we do not have any branches or points of service at which you can deposit a cheque in person, you will need to mail to us any cheque that you wish to be deposited to your Account. Cheques sent to us for deposit to your Account or funds transferred electronically for deposit will be credited to your Account when processed by us, but before we can permit you to have access to those funds (this means that we hold those funds) we must first know that the cheque or electronic funds transfer has been cleared by the other financial institution.
Provided that both your Account and the cheque to be deposited to your Account satisfy the conditions below, the maximum hold period for cheques of $1500 or less is 5 business days and the maximum hold period for cheques over $1500 is 8 business days, although in either case you will have access to the first $100 1 business day after we credit the cheque to your Account.
• qualifying account - For the above hold periods to apply, your Account must
- have been open for 90 days when the cheque was deposited, and
- not have been opened with an initial deposit exceeding $149,999 (or such greater amount that is prescribed under the federal Bank Act).
- be printed on paper and encoded with magnetic ink,
- not be damaged or mutilated such that it is unreadable by cheque clearing systems,
- be drawn in Canadian dollars on a branch of an institution (as defined in the Access to Funds Regulations under the Bank Act) located in Canada,
- not have been endorsed more than once, and
- not be dated earlier than 6 months before it is deposited.
The expiry of a hold period does not guarantee that the cheque or any other item deposited to your Account will not be returned for any reason after the hold period has expired. Ultimately, you are responsible to us for any items that are returned, regardless of whether the hold period has expired.
The Bank manages its capital under guidelines established by the Office of the Superintendent of Financial Institutions of Canada (“OSFI”). OSFI’s regulatory capital guidelines are based on the international Basel Committee on Banking Supervision framework entitled Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems (“Basel III”), which came into effect in Canada on January 1, 2013, and measures capital in relation to credit, market and operational risks. The Bank has various capital policies and procedures and controls, including an Internal Capital Adequacy Assessment Process (“ICAAP”), which it utilizes to achieve its goals and objectives.
The Bank’s objectives include:
- Providing sufficient capital to maintain the confidence of investors and depositors; and
- Being an appropriately capitalized institution, as measured internally, defined by regulatory authorities and compared with the Bank’s peers.
OSFI’s regulatory capital guidelines under Basel III allow for two tiers of capital. Common Equity Tier 1 (“CET1”) capital includes common shares, retained earnings and accumulated other comprehensive income, less regulatory adjustments which are deducted from capital. The Bank currently does not hold any additional Tier 1 capital instruments, therefore, the Bank’s CET1 is equal to its Tier 1 regulatory capital. Tier 2 capital consists of the eligible portion of general allowances.
Risk-weighted assets (“RWA”) includes a credit risk component for all on- and off-balance sheet assets and financial instruments; an operational risk component based on a percentage of average risk-weighted revenues, and a market risk component for assets held for trade. For the purposes of calculating RWA, securitization transactions are considered off-balance sheet transactions and therefore securitization assets are not included in the RWA calculation.
As at December 31, 2019 and 2018, the Bank complied with all regulatory capital guidelines established by OSFI and its internal targets as determined by its ICAAP.
December_2012_Basel_II_Pillar_3_Disclosures
March_2013_Basel_III_Pillar_3_Disclosures
June_2013_Basel_III_Pillar_3_Disclosures
September_2013_Basel_III_Pillar_3_Disclosures
December_2013_Basel_III_Pillar_3_Disclosures
December_2014_Basel_III_Pillar_3_Disclosures
December_2015_Basel_III_Pillar_3_Disclosures
December_2016_Basel_III_Pillar_3_Disclosures
December_2017_Basel_III_Pillar_3_Disclosures
December_2018_Basel_III_Pillar_3_Disclosures
December_2019_Basel_III_Pillar_3_Disclosures
December_2020_Basel_III_Pillar_3_Disclosures
December_2021_Basel_III_Pillar_3_Disclosures
RELATED LINKS
Investor Relations
WHAT IS THE FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA)?
The Foreign Account Tax Compliance Act (FATCA) is U.S. legislation aimed at detecting U.S. persons evading tax obligations using financial accounts held outside of the U.S. FATCA requires non-U.S. financial institutions to report information to the Internal Revenue Service (IRS) about financial accounts held by U.S. persons. Failure to comply could result in the IRS imposing a withholding tax on non-U.S. financial institutions and their account holders.
As a result of FATCA, the Canadian and U. S. governments reached an agreement, effective July 1, 2014, that will require Canadian financial institutions to perform due diligence in order to identify and report certain U.S. persons to the Canada Revenue Agency (CRA). The CRA will then exchange the information with the IRS through existing provisions of the Canada – U.S. Tax Convention, which is consistent with Canada’s privacy laws.
For more information on FATCA legislation or the Canada and U.S. Intergovernmental Agreement, please visit the Canadian Bankers Association website.
HOW DO I KNOW IF I’M A U.S. PERSON?
For Canadian Tire Bank, a U.S. person is considered a U.S. citizen or U.S. resident for tax purposes.
Generally, a U.S. citizen may be one of the following:
- An individual who was born in the U.S. and has not relinquished U.S. citizenship;
- An individual who legally became a U.S. citizen; or
- An individual who holds a U.S. passport.
If you are unsure whether you are a U.S. citizen or U.S resident for tax purposes, you may want to consult the U.S. Internal Revenue Service website or contact your tax advisor.
WHY DO I NEED TO COMPLETE THE SELF-CERTIFICATION FORM?
Under certain circumstances, Canadian Tire Bank is required to obtain self-certifications to establish whether an account holder is a U.S. person and / or a resident of Canada. For example, if your account has a U.S address, a U.S. phone number or a Power of Attorney with a U.S. address, a self-certification form is required. The self-certification form is also required if you provided ID issued by the U.S. government during the account opening process. Failure to provide a completed self-certification may result in your account information being reported to the CRA or account closure.
If you are unsure whether you are a U.S. citizen or U.S resident for tax purposes, you may want to consult the U.S. Internal Revenue Service website or contact your tax advisor.
WHY DO I NEED TO COMPLETE THE ATTESTATION FORM?
Under certain circumstances, Canadian Tire Bank may rely on select forms of documentary evidence, along with a completed self-certification, to establish whether an account holder is a U.S. person and / or resident of Canada. For example, if your account has a U.S. address, a U.S. phone number or a Power of Attorney with a U.S. address, additional documentary evidence and a self-certification form is required. Obtaining an attestation from a commissioner of oaths or guarantor in Canada that they have seen a valid identification document issued by an authorized government body is an acceptable form of documentary evidence.
WHY IS MY ACCOUNT BEING CLOSED?
Canadian Tire Bank is obligated to determine whether account holders with a U.S. address or U.S. phone number on file are considered U.S. persons. We make several attempts to contact you to obtain the necessary information regarding your U.S person and / or Canadian residency status. If the required documentation is not provided in a reasonable time frame, it is Canadian Tire Bank’s policy to close the account. Any tax free savings products such as the Canadian Tire Tax Free® High Interest Savings account or Canadian Tire Tax Free® GIC will remain open.
In effort to combat tax evasion, the Organization for Economic Cooperation and Development created the Common Reporting Standard (CRS), an international standard that allows for the automatic exchange of financial account information between tax administrations in participating jurisdictions. Canada’s Income Tax Act was amended to implement the CRS, which came into force on July 1, 2017. In order to comply with the CRS, Canadian financial institutions, including Canadian Tire Bank, need to better understand the tax residence of their account holders.
WHY DO I NEED TO COMPLETE THE DECLARATION OF TAX RESIDENCE FOR INDIVIDUALS FORM?
Canadian Tire Bank has to know the tax residency status of its account holders. If you are a tax resident in a reportable jurisdiction, your financial account information may be reported to the Canada Revenue Agency (CRA). The CRA may then share that information with the government of a foreign jurisdiction that you are a resident of for tax purposes. Completion of the Declaration of Tax Residence for Individuals Form allows Canadian Tire Bank to determine whether you are a resident for tax purposes of a jurisdiction other than Canada.
WHAT INFORMATION IS SHARED WITH THE CRA?
Account information that is collected by Canadian Tire Bank and shared with the CRA may include your name, address, date of birth, jurisdiction of residence for tax purposes, tax payer identification number(s), account number, account balance and interest paid to your Canadian Tire Bank account. The CRA may share that information with the tax administrations of the foreign jurisdictions that you are a resident of for tax purposes.
WHAT HAPPENS IF I DO NOT SUBMIT A COMPLETED DECLARATION OF TAX RESIDENCE FOR INDIVIDUALS FORM TO CANADIAN TIRE BANK WHEN REQUESTED?
Accounts cannot be opened until a Declaration of Tax Residence for Individuals Form has been provided to Canadian Tire Bank. Failure to provide a completed Declaration of Tax Residence for Individuals Form to Canadian Tire Bank when requested may result in your information being shared with the CRA. You may also be assessed a financial penalty by the CRA.
HOW DO I DETERMINE MY TAX RESIDENCE STATUS?
Your tax residence status is based on your individual situation and relevant facts including your residential ties to Canada and abroad. If you need assistance with determining your tax residence, refer to Income Tax Folio, S5-F1-C1, Determining an Individual’s Residence Status, which can be located on the CRA’s website. You may also want to consult your tax advisor.
WHERE CAN I OBTAIN A COPY OF THE DECLARATION OF TAX RESIDENCE FOR INDIVIDUALS FORM?
The Declaration of Tax Residence for Individuals Form can be located on the CRA’s website, www.cra-arc.gc.ca.
WHERE CAN I FIND MORE INFORMATION ON THE COMMON REPORTING STANDARD?
Additional information on the Common Reporting Standard can be located at www.oecd.org and www.cra-arc.gc.ca.
| Drafts / Office Cheques (Canadian dollars only) | $5.00 |
| Wire transfer to another Canadian financial institution (other than your External Account) | $20.00 |
| Wire transfer to a foreign financial institution | $30.00 |
| Cheque, pre-authorized debit or other payment item drawn on an Account that is returned for insufficient funds (NSF) | $30.00 |
| If your Account goes into overdraft | $5.00 |
| If a cheque drawn on another financial institution is deposited to your Account but is not honoured by that other financial institution | $7.50 |
| Stop Payment with complete information, for a single cheque or a range of cheques | $10.00 |
| Stop Payment with incomplete information (per item) | $20.00 |
| Copies of Past Account Statements (per copy) | $5.00 |
| Transfer TFSA from us to another financial institution | $50.00 |
- after 2 years, the lesser of the balance or $20.00. Waived if balance is greater than $20.00
- after 5 years, the lesser of the balance or $30.00. Waived if balance is greater than $30.00
- after 9 years, the lesser of the balance or $40.00. Waived if balance is greater than $40.00
WEBSITE TERMS AND CONDITIONS
PLEASE READ THESE TERMS AND CONDITIONS OF USE CAREFULLY BEFORE USING CTFS.COM
Your use of CTFS.com (“the Website”) is subject to your agreement without change to the following terms and conditions (the "Terms and Conditions"). The Terms and Conditions, as amended from time to time (see Modification, below), govern your use of the Website. The Terms and Conditions replace all prior agreements between you and us governing your use of the Website. The Terms and Conditions do not replace any other agreements you have with us (now or in the future) governing an account or other services we may provide to you. Any agreement you have with us governing an account or such service will continue to apply to that account or service unless it conflicts with these Terms and Conditions, in which case the agreement governing such account or service will prevail to the extent of the conflict. You also agree to abide by and comply with all instructions we may provide to you from time to time in connection with accessing and using the Website. The Terms and Conditions are to be read by you together with any terms, conditions or disclaimers provided in the pages of this Website. In the event of a conflict, the terms, conditions or disclaimers in the pages of this Website will govern. If you do not accept the Terms and Conditions in their entirety, do not use the Website and do not take advantage of any of the services.
Canadian Tire
When used in these Terms and Conditions, the term “Canadian Tire” means Canadian Tire Bank and its affiliates.
“You” and “We”
“You” and “your” mean you, the individual user of the Website. “We”, “us” and “our” mean Canadian Tire.
Use of Website
Canadian Tire is not responsible to you or anyone else in any manner for direct, indirect, special, consequential, exemplary or punitive damages, however caused, arising out of your use of (or inability to use) the Website, its functions or content and/or any web browser (“Damage”), including out of any errors, inaccuracies, omissions or other defect in, the information contained within the Website and including if you transmit confidential or sensitive information to us or if we communicate such information to you at your request over the Internet, even if Canadian Tire or its representatives are advised of the possibility of such Damage. If, notwithstanding the foregoing, Canadian Tire or any of its suppliers or service providers should be found liable for any Damage, the liability of Canadian Tire and such third persons shall in no event exceed in the aggregate $250 CAD. Canadian Tire is not responsible for late, lost, incomplete, illegible, misdirected, or stolen messages or mail, unavailable network connections, failed, incomplete, garbled, or delayed computer transmissions, online failures, hardware, software, or other technical malfunctions or disturbances, or any other communications failures or circumstances affecting, disrupting, or corrupting communications. Canadian Tire assumes no responsibility, and shall not be liable for, any damages to, or viruses that may infect, your computer equipment or other property on account of your access to, use of, or browsing on ctfs.com or your downloading of any materials, data, text, images, video, or audio from ctfs.com. Any unauthorized use, downloading, re-transmission, or other copying or modification of Trade-marks (defined below) or other materials contained on the Website may be a violation of statutory or common law rights including applicable copyright, trademark, or other intellectual property laws or other laws, which could subject the violator to legal action. You may not frame or utilize framing techniques to enclose any Trade-Marks or other copyrighted material without Canadian Tire’s express written consent. You may not use any meta tags or any other hidden text utilizing the Trade-Marks and other copyrighted material without Canadian Tire’s express written permission. You agree that you will not use the Website or the services provided on it to: (i) misappropriate the intellectual property rights of Canadian Tire or its affiliates; (ii) attempt to deface, modify or manipulate the Website or employ any tactic to defeat or evade any security feature employed on the Website; (iii) misappropriate the identity of, or obtain any personal information about any other user of the Website or services, or any customer, vendor, dealer or employee of Canadian Tire; and (iv) modify, erase or damage any information contained on the Website or any computer hardware or information storage device owned or used by Canadian Tire. As an additional term and condition of use of the Website and services, you agree not to use any process, research method or tactic to recreate or replicate the features, functions or design of the Website or services through reverse engineering. The ctfs.com Website may not, in whole or in part, be copied, reproduced, republished, uploaded, posted, transmitted, or distributed without the written permission of Canadian Tire, except that you may download, display, and print the materials presented on ctfs.com for your personal, non-commercial use only. You must retain all copyright and trademark notices, including any other proprietary notices, contained in the materials. The use of such materials on any other website or in any environment of networked computers is prohibited. You are prohibited from contributing, posting, or transmitting any infringing, unlawful, threatening, libelous, defamatory, obscene, indecent, inflammatory, pornographic, or profane material or any material that could constitute or encourage conduct that would be considered a criminal offence, give rise to civil liability, or otherwise violate any law. In its sole discretion, in addition to any other rights or remedies available to Canadian Tire and without any liability whatsoever, Canadian Tire at any time and without notice may terminate or restrict your access to any component of ctfs.com.
Indemnification
You agree to indemnify and save harmless Canadian Tire, its suppliers and service providers and its and their respective officers, directors, employees, consultants, representatives, and agents from and against any claim, cause of action, or demand, including without limitation reasonable legal, accounting, and other professional fees, brought as a result of your use of the Website.
Website Usage Statistics
To continually improve the Website, we often collect statistics about how Website users are using our Website. The information collected may include your browser type and your operating system, as well as data such as the number and types of pages visited, and the length of time spent per page and on the Website overall. These usage statistics are only viewed in the aggregate and are not associated with you as an individual. We use this information for purposes such as improving pages within our Website.
Links to other Websites
This Website includes links to websites operated by subsidiaries and affiliates of Canadian Tire and to other web sites operated by Canadian Tire, and to websites operated by third parties. Links to other websites from this Website are for convenience only. No endorsement of any third party products, services or information is expressed or implied by any information, material or content referred to or included on, or linked from or to the Website. Canadian Tire will not be responsible for the content of any other websites and make no representation or warranty regarding any other websites or the contents or materials on such websites. If you decide to access other websites, you do so at your own risk. All links to the Website must be approved in writing by Canadian Tire.
Information
Facts, data, information and other contents contained in the Website are provided by Canadian Tire and other sources, including rate and fee information, are believed to be current and reliable when placed on the Website, but we cannot guarantee they are accurate, complete or current at all times. For example, rates, fees and information are subject to change at any time without notice, and rates and fees posted on the Website may not immediately reflect such changes. The information contained on the Website (a) is for informational purposes only, is not intended to provide specific legal, financial, accounting, tax or other advice for any individual or entity and should not be relied upon in that regard, (b) is not intended to be a comprehensive or detailed statement concerning the matters addressed, and (c) does not constitute an offer to buy or sell products or services of Canadian Tire. The information may be changed, withdrawn or terminated at any time without notice. Canadian Tire makes no warranty or representation that (i) no virus or other contaminating or destructive properties will be transmitted or that no damage will occur to your computer system, and (ii) information available on or through the Website is appropriate, accurate or available for use in any particular jurisdiction. Canadian Tire is not responsible in any manner for direct, indirect, special or consequential damages howsoever caused, arising out of the use of the Website. Canadian Tire expressly disclaims any duty to update or correct any information on the Website.
Availability of Canadian Tire Products and Services
Not all products and services that Website users may be interested in are available in all regions of Canada or to other country residents. Canadian Tire’s products and services are available in accordance with local law and only if they may be lawfully offered in any particular jurisdiction. All Canadian Tire products and services are subject to the terms of applicable agreements. All amounts and prices are in Canadian dollars.
Ownership
The website, its design, all text, graphics, content, video, audio, and the selection and arrangement thereof are the property of Canadian Tire Corporation, Limited and/or its suppliers and service providers.
Trade-Marks
Canadian Tire, ctfs.com, and all other Canadian Tire related Trade-Marks and design marks displayed on ctfs.com (collectively, the "Trade-Marks") are registered and common law Trade-Marks owned by Canadian Tire Corporation, Limited. The Trade-Marks of Canadian Tire Financial Services Limited, Canadian Tire Bank and MasterCard International Incorporated are used under license. Nothing contained on ctfs.com should be construed as granting, by implication or otherwise, any license or right to use any Trade-Marks, including the Trade-Marks, except with the express written permission of Canadian Tire or such other party that may own the applicable Trade-Marks.
®/™ Unless otherwise noted, all trademarks are owned by Canadian Tire Corporation, Limited are used under license.
Email Communications
Email communication including any information transmitted with it is intended only for the use of the addressee(s) and is confidential. If you are not an intended recipient or responsible for delivering a message to an intended recipient, any review, disclosure, conversion to hard copy, dissemination, reproduction or other use of any part of such communication is strictly prohibited, as is the taking or omitting of any action in reliance upon such communication. If you receive such communication in error or without authorization please notify us immediately by return e-mail or otherwise and permanently delete the entire communication from any computer, disk drive, or other storage medium. Unprotected communication by e-mail over the Internet is not confidential and may be intercepted or lost or possibly altered. You agree that Canadian Tire shall have no liability to you or to any one else in connection with an e-mail sent by you to Canadian Tire or an e-mail sent by Canadian Tire to you at your request.
For legal purposes, documents sent electronically to you (including by facsimile) will be considered to be “in writing” and to have been signed and/or delivered by us. We may rely upon and treat as duly authorized and binding on you any electronically authenticated document that we receive from you or which appears to have been sent by you.
Privacy
Please click on the following link to view our Privacy Charter. You acknowledge that you have read the Privacy Charter and agree that the terms of such communication are reasonable. You consent to the collection, use and disclosure of your personal information by Canadian Tire and/or its suppliers and service providers in accordance with the terms of and for the purposes set forth in the Privacy Charter.
Cookies
When you visit the Website, we may send a small text file containing a unique identification number, called a ‘cookie’. Cookies are used to track the activities of the web browser, such as date, time, duration and frequency of visits. The information is used to provide a more streamlined and consistent website-navigation experience. Cookies are not used to collect any information that will personally identify you. Cookies are widely-used, and most web browsers will accept them automatically. You may adjust your web browser settings to alert you about cookies being sent or to refuse cookies automatically. Please be advised that cookies are required to complete applications for products or services online and to use certain features such as My Online Account. If cookies are not enabled on your browser and you are in the process of completing an application, a session time-out message will appear when you click the "next" button to move to the next section of the application. If you prefer not to enable cookies on your browser, you can always complete an application for a product or service or obtain information about your account(s) by phone by calling toll-free 1-866-681-CTFS (2837).
FEEDBACK
Canadian Tire enables visitors to ctfs.com to provide Canadian Tire with feedback by email or otherwise ("Customer Content"). If you provide Customer Content you grant Canadian Tire a non-exclusive, royalty-free, perpetual, irrevocable, and fully sub-licensable right to use, delete, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, and display such Customer Content throughout the world in any media, now known or hereafter developed, and you waive any and all moral rights in the Customer Content. You also grant Canadian Tire the right to use the name you submit with the Customer Content, if any, in connection with Canadian Tire's rights hereunder.
Modification
Canadian Tire reserves the right, without notice, to make changes to the Website, including without limitation with respect to the content of this Website and products offered by Canadian Tire, and may at any time and from time to time modify these Terms and Conditions for the use of the Website. If you use the Website after the effective date of the change it will mean that you have agreed and consented to the change.
Additional Terms
Any agreement you have with us governing an account or other service we provide to you will apply to that account or service and all transactions and other activities relating to such account or service.
Severability
In the event that any provision of these Terms and Conditions is determined to be unenforceable or invalid in whole or in part, the affected portion of such provision will be deemed to be severed and the remaining provisions will continue to apply with full force and effect.
Headings
The headings used in these Terms and Conditions are included for convenience only and will not limit or otherwise affect these Terms and Conditions.
Entire Agreement
These Terms and Conditions, together with the Privacy Communication and Security Awareness, constitute the entire agreement between us relating to the subject matter hereof, and supersede any prior understandings or agreements (whether electronic, oral, or written) regarding such subject matter.
Governing Law
These Terms and Conditions and their performance will be governed by the laws in force in the Province of Ontario, Canada, without giving effect to any principles of conflicts of laws, and notwithstanding your domicile, residence or physical location. You consent and submit to the exclusive jurisdiction of the courts located in the City of Toronto, in the Province of Ontario, Canada, in all disputes arising out of or relating to the use of the Website and these Terms and Conditions. You may not use the Website in violation of Canadian export laws and regulations. If you access the Website from a location outside of Canada, you are responsible for compliance with all local laws. The United Convention on Contracts for the International Sale of Goods does not apply to this Agreement or any communication with or transaction through the Website.
The parties confirm that it is their express wish that this Agreement and all related documents be written in English.
Legal Demands, Family Support Orders and Provisions and Canada Revenue Agency Demands
In compliance with the Bank Act for Legal Demands, Family Support Orders and Provisions and Canada Revenue Agency Demands, the following office has been designated for service by Canadian Tire Bank:
Canadian Tire Bank
P.O. Box 3000
Welland, Ontario
L3B 5S5
HOLDS ON FUNDS
Since we do not have any branches or points of service at which you can deposit a cheque in person, you will need to mail to us any cheque that you wish to be deposited to your Account. Cheques sent to us for deposit to your Account or funds transferred electronically for deposit will be credited to your Account when processed by us, but before we can permit you to have access to those funds (this means that we hold those funds) we must first know that the cheque or electronic funds transfer has been cleared by the other financial institution.
Provided that both your Account and the cheque to be deposited to your Account satisfy the conditions below, the maximum hold period for cheques of $1500 or less is 5 business days and the maximum hold period for cheques over $1500 is 8 business days, although in either case you will have access to the first $100 1 business day after we credit the cheque to your Account.
• qualifying account - For the above hold periods to apply, your Account must
- have been open for 90 days when the cheque was deposited, and
- not have been opened with an initial deposit exceeding $149,999 (or such greater amount that is prescribed under the federal Bank Act).
- be printed on paper and encoded with magnetic ink,
- not be damaged or mutilated such that it is unreadable by cheque clearing systems,
- be drawn in Canadian dollars on a branch of an institution (as defined in the Access to Funds Regulations under the Bank Act) located in Canada,
- not have been endorsed more than once, and
- not be dated earlier than 6 months before it is deposited.
The expiry of a hold period does not guarantee that the cheque or any other item deposited to your Account will not be returned for any reason after the hold period has expired. Ultimately, you are responsible to us for any items that are returned, regardless of whether the hold period has expired.
The Bank manages its capital under guidelines established by the Office of the Superintendent of Financial Institutions of Canada (“OSFI”). OSFI’s regulatory capital guidelines are based on the international Basel Committee on Banking Supervision framework entitled Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems (“Basel III”), which came into effect in Canada on January 1, 2013, and measures capital in relation to credit, market and operational risks. The Bank has various capital policies and procedures and controls, including an Internal Capital Adequacy Assessment Process (“ICAAP”), which it utilizes to achieve its goals and objectives.
The Bank’s objectives include:
- Providing sufficient capital to maintain the confidence of investors and depositors; and
- Being an appropriately capitalized institution, as measured internally, defined by regulatory authorities and compared with the Bank’s peers.
OSFI’s regulatory capital guidelines under Basel III allow for two tiers of capital. Common Equity Tier 1 (“CET1”) capital includes common shares, retained earnings and accumulated other comprehensive income, less regulatory adjustments which are deducted from capital. The Bank currently does not hold any additional Tier 1 capital instruments, therefore, the Bank’s CET1 is equal to its Tier 1 regulatory capital. Tier 2 capital consists of the eligible portion of general allowances.
Risk-weighted assets (“RWA”) includes a credit risk component for all on- and off-balance sheet assets and financial instruments; an operational risk component based on a percentage of average risk-weighted revenues, and a market risk component for assets held for trade. For the purposes of calculating RWA, securitization transactions are considered off-balance sheet transactions and therefore securitization assets are not included in the RWA calculation.
As at December 31, 2019 and 2018, the Bank complied with all regulatory capital guidelines established by OSFI and its internal targets as determined by its ICAAP.
December_2012_Basel_II_Pillar_3_Disclosures
March_2013_Basel_III_Pillar_3_Disclosures
June_2013_Basel_III_Pillar_3_Disclosures
September_2013_Basel_III_Pillar_3_Disclosures
December_2013_Basel_III_Pillar_3_Disclosures
December_2014_Basel_III_Pillar_3_Disclosures
December_2015_Basel_III_Pillar_3_Disclosures
December_2016_Basel_III_Pillar_3_Disclosures
December_2017_Basel_III_Pillar_3_Disclosures
December_2018_Basel_III_Pillar_3_Disclosures
December_2019_Basel_III_Pillar_3_Disclosures
December_2020_Basel_III_Pillar_3_Disclosures
December_2021_Basel_III_Pillar_3_Disclosures
RELATED LINKS
Investor Relations
WHAT IS THE FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA)?
The Foreign Account Tax Compliance Act (FATCA) is U.S. legislation aimed at detecting U.S. persons evading tax obligations using financial accounts held outside of the U.S. FATCA requires non-U.S. financial institutions to report information to the Internal Revenue Service (IRS) about financial accounts held by U.S. persons. Failure to comply could result in the IRS imposing a withholding tax on non-U.S. financial institutions and their account holders.
As a result of FATCA, the Canadian and U. S. governments reached an agreement, effective July 1, 2014, that will require Canadian financial institutions to perform due diligence in order to identify and report certain U.S. persons to the Canada Revenue Agency (CRA). The CRA will then exchange the information with the IRS through existing provisions of the Canada – U.S. Tax Convention, which is consistent with Canada’s privacy laws.
For more information on FATCA legislation or the Canada and U.S. Intergovernmental Agreement, please visit the Canadian Bankers Association website.
HOW DO I KNOW IF I’M A U.S. PERSON?
For Canadian Tire Bank, a U.S. person is considered a U.S. citizen or U.S. resident for tax purposes.
Generally, a U.S. citizen may be one of the following:
- An individual who was born in the U.S. and has not relinquished U.S. citizenship;
- An individual who legally became a U.S. citizen; or
- An individual who holds a U.S. passport.
If you are unsure whether you are a U.S. citizen or U.S resident for tax purposes, you may want to consult the U.S. Internal Revenue Service website or contact your tax advisor.
WHY DO I NEED TO COMPLETE THE SELF-CERTIFICATION FORM?
Under certain circumstances, Canadian Tire Bank is required to obtain self-certifications to establish whether an account holder is a U.S. person and / or a resident of Canada. For example, if your account has a U.S address, a U.S. phone number or a Power of Attorney with a U.S. address, a self-certification form is required. The self-certification form is also required if you provided ID issued by the U.S. government during the account opening process. Failure to provide a completed self-certification may result in your account information being reported to the CRA or account closure.
If you are unsure whether you are a U.S. citizen or U.S resident for tax purposes, you may want to consult the U.S. Internal Revenue Service website or contact your tax advisor.
WHY DO I NEED TO COMPLETE THE ATTESTATION FORM?
Under certain circumstances, Canadian Tire Bank may rely on select forms of documentary evidence, along with a completed self-certification, to establish whether an account holder is a U.S. person and / or resident of Canada. For example, if your account has a U.S. address, a U.S. phone number or a Power of Attorney with a U.S. address, additional documentary evidence and a self-certification form is required. Obtaining an attestation from a commissioner of oaths or guarantor in Canada that they have seen a valid identification document issued by an authorized government body is an acceptable form of documentary evidence.
WHY IS MY ACCOUNT BEING CLOSED?
Canadian Tire Bank is obligated to determine whether account holders with a U.S. address or U.S. phone number on file are considered U.S. persons. We make several attempts to contact you to obtain the necessary information regarding your U.S person and / or Canadian residency status. If the required documentation is not provided in a reasonable time frame, it is Canadian Tire Bank’s policy to close the account. Any tax free savings products such as the Canadian Tire Tax Free® High Interest Savings account or Canadian Tire Tax Free® GIC will remain open.
In effort to combat tax evasion, the Organization for Economic Cooperation and Development created the Common Reporting Standard (CRS), an international standard that allows for the automatic exchange of financial account information between tax administrations in participating jurisdictions. Canada’s Income Tax Act was amended to implement the CRS, which came into force on July 1, 2017. In order to comply with the CRS, Canadian financial institutions, including Canadian Tire Bank, need to better understand the tax residence of their account holders.
WHY DO I NEED TO COMPLETE THE DECLARATION OF TAX RESIDENCE FOR INDIVIDUALS FORM?
Canadian Tire Bank has to know the tax residency status of its account holders. If you are a tax resident in a reportable jurisdiction, your financial account information may be reported to the Canada Revenue Agency (CRA). The CRA may then share that information with the government of a foreign jurisdiction that you are a resident of for tax purposes. Completion of the Declaration of Tax Residence for Individuals Form allows Canadian Tire Bank to determine whether you are a resident for tax purposes of a jurisdiction other than Canada.
WHAT INFORMATION IS SHARED WITH THE CRA?
Account information that is collected by Canadian Tire Bank and shared with the CRA may include your name, address, date of birth, jurisdiction of residence for tax purposes, tax payer identification number(s), account number, account balance and interest paid to your Canadian Tire Bank account. The CRA may share that information with the tax administrations of the foreign jurisdictions that you are a resident of for tax purposes.
WHAT HAPPENS IF I DO NOT SUBMIT A COMPLETED DECLARATION OF TAX RESIDENCE FOR INDIVIDUALS FORM TO CANADIAN TIRE BANK WHEN REQUESTED?
Accounts cannot be opened until a Declaration of Tax Residence for Individuals Form has been provided to Canadian Tire Bank. Failure to provide a completed Declaration of Tax Residence for Individuals Form to Canadian Tire Bank when requested may result in your information being shared with the CRA. You may also be assessed a financial penalty by the CRA.
HOW DO I DETERMINE MY TAX RESIDENCE STATUS?
Your tax residence status is based on your individual situation and relevant facts including your residential ties to Canada and abroad. If you need assistance with determining your tax residence, refer to Income Tax Folio, S5-F1-C1, Determining an Individual’s Residence Status, which can be located on the CRA’s website. You may also want to consult your tax advisor.
WHERE CAN I OBTAIN A COPY OF THE DECLARATION OF TAX RESIDENCE FOR INDIVIDUALS FORM?
The Declaration of Tax Residence for Individuals Form can be located on the CRA’s website, www.cra-arc.gc.ca.
WHERE CAN I FIND MORE INFORMATION ON THE COMMON REPORTING STANDARD?
Additional information on the Common Reporting Standard can be located at www.oecd.org and www.cra-arc.gc.ca.
| Drafts / Office Cheques (Canadian dollars only) | $5.00 |
| Wire transfer to another Canadian financial institution (other than your External Account) | $20.00 |
| Wire transfer to a foreign financial institution | $30.00 |
| Cheque, pre-authorized debit or other payment item drawn on an Account that is returned for insufficient funds (NSF) | $30.00 |
| If your Account goes into overdraft | $5.00 |
| If a cheque drawn on another financial institution is deposited to your Account but is not honoured by that other financial institution | $7.50 |
| Stop Payment with complete information, for a single cheque or a range of cheques | $10.00 |
| Stop Payment with incomplete information (per item) | $20.00 |
| Copies of Past Account Statements (per copy) | $5.00 |
| Transfer TFSA from us to another financial institution | $50.00 |
- after 2 years, the lesser of the balance or $20.00. Waived if balance is greater than $20.00
- after 5 years, the lesser of the balance or $30.00. Waived if balance is greater than $30.00
- after 9 years, the lesser of the balance or $40.00. Waived if balance is greater than $40.00
