TO WHOM IT MAY CONCERN

TO WHOM IT MAY INTEREST

TO WHOM IT MAY APPLY

https://www.ctvnews.ca/ottawa/video/2025/06/02/scotiabank-closes-chapter-at-carleton/

Before such permanent branch closures Bank Branch must issue a written information mailed to the original owner/ account holders of that branch.

In the old days i.e. before  compuertization a bank branch closure might have meant or interpreted differently. In the old days several hundreded years ago banks were limited to one or just few branches and closure might have meant end of Business etc. In modern banking system a branch closure does not mean end of bank etc. technology allows account holders to continue banking at other branches of the same bank, account holders do not loose their financial assets because of a branch closure, because it is banks corporate office/HQ responsibility.

In some underdeveloped countries still banking might be limited to one branch or within a city limits because of which branch closure might have different meaning for the people living in those places.

As I understand in western developed countries a branch closure does not mean an account closure. Money in the accounts is guaranteed by CDIC in Canada  and can not be stolen.

Missing step in this branch permanent closure was that bank branch or the Head office of Scotiabank did not notify me (i.e. account owner and user) by a personalized letter, that what to do what to expect after the branch permanent closure and if the Service Canada/CRA making direct deposits in my account were made aware of this change.

I started my fully documented financial life in Canada by filing CRA tax return for the year of 1993 in 1994 in Willowdale Toronto Ontario Canada, opened bank accounts, obtained credit cards, established credit reporting in Canada and USA, Filed personal bankruptcy in 2007, Ontario Works Social assistance on and off for nearly 20 years, finally OW transitioned to OAS/GIS/OW-CPP facilitated by Ontario Works Social assistance. My financial life was a bit sketchy before coming to Canada in 1993, was suitable for the systems where I lived before, was not as thoroughly documented as in Canada.

It was banks responsibility to educated clients/customers to prepare them before such closures to take care of all the matters related to such closures (i.e. after effects) such as transfer the pre authorized payments which were required in some situations as insurances, some payments are card based so may not be impacted but pre-authorized payments will be impacted by such closures because transit number will change. Etc. it was about the trust in the system, when such changes were made unprofessionally, people may lose trust in the system.