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  • BC-4.4 BC-4.4 Current Accounts

    • BC-4.4.1

      Retail bank licensees levying fees on their low-balance customer current accounts, are required by the CBB to apply such fees to average balances when these fall below a prescribed level during a specified period.

      Amended January 2011
      October 2007

    • BC-4.4.2

      In order to prevent incidences of returned cheques due to maintenance of low-balance current accounts, the banks may convert some low-balance and/or inactive current accounts to savings accounts.

      October 07