Legal

Legal

Find answers to questions about who to contact with questions or complaints, how we use and protect personal information, and more.

Deposits with Wells Fargo Bank, National Association, Canadian Branch are not insured by the Canada Deposit Insurance Corporation.

In compliance with the Support Orders and Support Provisions (Banks and Authorized Foreign Banks) Regulations, Wells Fargo Bank, N.A., Canadian Branch has designated the following offices for the service of enforcement notices in respect of the below noted provinces.

Province of Alberta
308 4th Ave SW, Suite 2711
Calgary, AB T2P 0H7

Province of British Columbia
200 Burrard Street, Suite 330
Vancouver, BC V6C 3L6

Province of Ontario
22 Adelaide Street W, Suite 2200
Toronto, ON M5H 4E3

Province of Quebec
1250 Rene-Levesque Blvd West, Suite 2100
Montreal, Quebec H3B 4W8

The Bank Act requires banks to inform customers in plain language that coercive tied selling is illegal. To comply with the law, Wells Fargo Bank, N.A., and its wholly-owned subsidiaries and Wells Fargo Bank, N.A., Canadian Branch has created this web page explaining what coercive tied selling is.

What is coercive tied selling?

Section 576.1 of the Bank Act prohibits banks from practicing coercive tied selling. It is against the law for a bank to "impose undue pressure on, or coerce a person to obtain a product or service from a particular person, including the bank and any of its affiliates, as a condition for obtaining another product or service from the bank." Customers cannot be unduly pressured to buy a product or service that they do not want from a bank or one of its affiliates, to obtain another bank product or service.

The following is an example that helps to explain coercive tied selling and what is not allowed.

Your bank's mortgage specialist tells you that you qualify for a home mortgage. However, you are also told that the bank will approve your mortgage only if you transfer your investments to the bank or its affiliates. You want the mortgage, but you do not want to move your investments.

You are advised that you qualify for a Registered Retirement Savings Plan (RRSP) loan. However, you are also told that the bank will approve the loan only if you use the money to buy the bank's mutual funds. You want the loan, but you want to invest the money elsewhere.

The above practice is against the law. A banking representative is not allowed to excessively pressure you to buy another unwanted product or service as a condition of obtaining the product you want.

What is not coercive tied selling?

Most businesses, including Wells Fargo Bank N.A., Canadian Branch look for tangible ways to show their interest in your business and appreciation for your loyalty. Sales practices, such as preferential pricing and bundling of products and services, offer potential and existing customers better prices or more favourable terms. These practices should not be confused with coercive tied selling, as defined by the Bank Act. Many of these practices will be familiar to you in your dealings with other businesses.

Preferential pricing

Preferential pricing means offering customers a better price or rate on all or part of their business. For example, a printer offers a lower price for each business card if you buy a thousand cards instead of a hundred. A shoe store offers a second pair of shoes at half price.

Similarly, a bank may be able to offer you preferential pricing — a higher interest rate on investments or a lower interest rate on loans — if you use more of its products or services. The following two examples will help to explain preferential pricing in banks.

After approving your application for a home mortgage from the bank, your bank's mortgage specialist tells you that this mortgage would be available at a lower interest rate if you transferred your investments to the bank or its affiliates.

After approving your application for an RRSP loan, your bank's credit officer offers you a lower interest rate if you use the loan to buy the bank's mutual funds.

The above practices are acceptable. The approval of your mortgage and RRSP loan is not conditional on your taking another bank product or service. Rather you are offered preferential pricing to encourage you to give the bank more business.

What is bundling of products and services?

Products or services are often combined to give consumers better prices, incentives or more favourable terms. By linking or bundling their products or services, businesses are often able to offer them to you at a lower combined price than if you bought each product on its own. For example, a fast-food chain advertises a meal combination that includes a hamburger, fries and a drink. The overall price is lower than if you bought the three items separately.

Similarly, banks may offer you bundled financial services or products so that you can take advantage of package prices that are less than the sum of the individual items. The following example will help to explain the bundling of bank products and services.

You plan to open a bank account that charges you for individual transactions. The banking representative offers you a package of services that includes a comparable bank account, a credit card with no annual fee and a discount on purchasing traveller's cheques. The total price for the package is less than if you purchased each part of the package separately.

Bundling products in this way is permitted because you have the choice of buying the items individually or in a package.

Who to contact with questions or complaints

Customers with questions, concerns or complaints about Wells Fargo Bank, N.A., Canadian Branch ("Wells Fargo Canada Branch") should take the following steps:

  1. First, customers should contact their Wells Fargo Canada Branch Relationship Manager with respect to questions or concerns regarding any Wells Fargo Canada Branch product, service or account.

  2. Customers with concerns that remain unresolved following consultation with their Relationship Manager may contact the Wells Fargo Canada Branch Complaints Liaison and provide all pertinent information:

    Complaints Liaison
    Wells Fargo Bank, N.A., Canadian Branch
    22 Adelaide Street W, Suite 2200
    Toronto, ON M5H 4E3
    Toll-free telephone: 1-866-876-8688
    Email: canadacomplaints@wellsfargo.com

  3. If, within 90 days of the Wells Fargo Canada Branch Complaints Liaison review, you are not satisfied with the resolution of your complaint, you may contact the Ombudsman for Banking Services and Investments.

    Ombudsman for Banking Services and Investments
    401 Bay Street
    Suite 1505, P.O. Box 5
    Toronto, Ontario M5H 2Y4
    Toll-free telephone: 1-888-451-4519
    Toll-free fax: 1-888-422-2865
    Toronto area telephone: 416-287-2877
    Toronto area fax: 416-225-4722
    Email: ombudsman@obsi.ca
    Web site: www.obsi.ca

Customers with questions, concerns or complaints about the manner in which Wells Fargo Canada provides services to persons with disabilities can provide feedback to the Wells Fargo Canada Complaints Liaison as follows. Accessible formats and communication supports will be provided, upon request. In addition, a copy of Wells Fargo Canada?s Accessibility Standards for Individuals with Disabilities Policy is available, upon request.

Complaints Liaison
Wells Fargo Canada
22 Adelaide Street W, Suite 2200
Toronto, ON M5H 4E3
Toll-free telephone: 1-866-876-8688
Email: canadacomplaints@wellsfargo.com

For reasons of confidentiality and security, do not send confidential information via email.

In the complaints handling process for Canadian financial institutions, including Wells Fargo Canada Branch, the Financial Consumer Agency of Canada is responsible for ensuring that all financial institutions comply with federal consumer legislation and will investigate any complaint or concern that relates to a possible breach of that legislation.

Financial Consumer Agency of Canada
Enterprise Building, 6th Floor
427 Laurier Avenue
West Ottawa, ON K1R 1B9
1-866-461-3222
Website: www.fcac-acfc.gc.ca

© 2018 Wells Fargo Bank, N.A., Canadian Branch. All rights reserved.

As required by the Complaints (Banks, Authorized Foreign Banks and External Complaints Bodies) Regulations SOR/2013-48, Wells Fargo Bank, N.A., Canadian Branch confirms that they did not receive any complaints in 2017.

At Wells Fargo Bank we are committed to protecting customer privacy and safeguarding personal information in every transaction, at every level of our organization. To learn about Wells Fargo Bank, N.A., Canadian Branch Customer Privacy Policy, visit: https://www.wellsfargo.com/privacy_security/privacy/.

Voluntary codes of conduct are non-legislated commitments, voluntarily made by companies, associations and other organizations to influence or control behaviour, for the benefit of both themselves and their communities. Voluntary codes and commitments can address the needs of consumers, workers, and citizens while helping companies remain competitive.

The banking industry has developed and is committed to voluntary codes designed to protect consumers. The Model Code of Conduct for Bank Relations with Small- and Medium-Sized Businesses is applicable to Wells Fargo Bank, N.A., Canadian Branch.

Model Code of Conduct for Bank Relations with Small- and Medium-Sized Businesses (1994) (PDF) — Model code of conduct for bank dealings with small- and medium-sized businesses. The key elements of the model code are incorporated into individual bank codes.

The information posted on this web site is for information purposes only. This information does not constitute (i) an offer, invitation or recommendation to purchase or sell, nor a solicitation of an offer to buy, any product or service to any person in any jurisdiction or to dispose or acquire assets, (ii) an opinion, invitation or recommendation to enter into a transaction, including, without limitation, any public or private offering of product or service, nor (iii) any form of legal, financial, investment or tax advice, opinion or recommendation. Recipients are entirely responsible for making their own decision to purchase or sell product or service or enter into an investment transaction. The information posted here is not intended to form the basis of any future or present contract or arrangement or a fiduciary relationship with, or fiduciary duty to, the recipient. This information is subject to change without notice and does not purport to be comprehensive or contain all the information necessary to evaluate the subject matter discussed here. No representation, warranty or undertaking, express or implied, is or will be made or given and no responsibility or liability is or will be accepted in relation to the accuracy or completeness of this information made available here. Any responsibility or liability for any such information is expressly disclaimed.

Multi-Year Accessibility Plan for Wells Fargo Canada

This multi-year accessibility plan confirms Wells Fargo Canada?s commitments and actions toward achieving accessibility for persons with disabilities, including customers, applicants and employees.

Statement of Commitment to Accessibility

Wells Fargo Canada is committed to providing services and opportunities to persons with disabilities in a manner that respects their dignity and independence.

Wells Fargo Canada is committed to preventing and removing barriers to integration and participation of persons with disabilities and will strive to do so as respectfully and efficiently as possible.

Wells Fargo Canada is committed to meeting its legal requirements concerning accessibility, especially those set out in the Accessibility for Ontarians with Disabilities Act (AODA).

Policies/Guidelines

Wells Fargo Canada has implemented policies and guidelines to enable it to meet its commitments to persons with disabilities.

The Accessibility Standards for Individuals with Disabilities Policy applies to Wells Fargo Canada?s applicable Ontario businesses and is directed to ensuring that customers with disabilities are treated with respect and dignity in their business interactions with Wells Fargo Canada.

The Accommodation of Disability Guidelines apply to applicants and Wells Fargo Canada employees and are focused on eliminating barriers to recruitment and employment for persons with disabilities.

Wells Fargo Canada will regularly review these policies and guidelines to ensure they continue to promote accessibility in its business and workplace and Wells Fargo Canada will assess whether additional policies and guidelines are required in order to bolster its commitment to accessibility for persons with disabilities.

Information and Communications

Wells Fargo Canada is committed to making information and communications accessible to persons with disabilities. Accessible communication formats will be made available upon request and Wells Fargo Canada is committed to ensuring that it consults with persons with disabilities to provide information and methods of communication that meet their particular needs.

Wells Fargo Canada encourages feedback from persons with disabilities if they have questions or concerns about the manner in which Wells Fargo Canada is providing services or opportunities for employment. Feedback can be provided by mail, telephone or email to Wells Fargo Canada?s Complaints Liaison (see contact details below). Wells Fargo Canada will assess whether additional methods of feedback are appropriate in the circumstances.

Wells Fargo Canada will make its internet websites and web content conform to the World Wide Web Consortium Web Content Accessibility Guidelines (WCAG) 2.0, initially at Level A and increasing to Level AA by January 2021.

Employment

Wells Fargo Canada is committed to fair and accessible employment practices, taking into account the particular needs of applicants and its employees.

Wells Fargo Canada will accommodate persons with disabilities during the employment relationship, including at the recruitment stage and during all phases of employment thereafter. Wells Fargo Canada?s Accommodation of Disability Guidelines contain more detailed information about the steps that Wells Fargo Canada will take to ensure accessibility in the employment relationship. A copy of the Guidelines is available (and can be provided in an alternate format), upon request.

Wells Fargo Canada will provide emergency response information to employees with disabilities to ensure they are treated respectfully and safely in the event of a workplace emergency.

Wells Fargo Canada will regularly review its processes, procedures, communication standards and employment-related content to ensure that it continues to provide an accessible employment experience to applicants and employees with disabilities.

Customer Service

Wells Fargo Canada is committed to providing accessible customer service to people with disabilities, to enable dignified and professional business relations. Wells Fargo Canada?s Accessibility Standards for Individuals with Disabilities Policy details how Wells Fargo Canada is prepared to ensure that the needs of customers with disabilities are met during their business interactions with Wells Fargo Canada. A copy of the Policy is available (and can be provided in an alternate format), upon request.

Facilities

Due to the nature of Wells Fargo Canada?s business, its facilities are not open to the public; however, Wells Fargo Canada is committed to ensuring that customers with disabilities have a dignified, professional, and safe experience while conducting business at Wells Fargo Canada facilities. If accommodation is required, whether to conduct business or to address an emergency response need, it will be provided on request.

Training

Wells Fargo Canada is committed to providing appropriate training to its Ontario employees to ensure they are familiar with their obligations and rights regarding AODA and human rights. Newcomers to Wells Fargo Canada will receive training shortly after commencing employment.

Wells Fargo Canada will regularly review its training methods and materials to confirm that it continues to provide the appropriate level of training to its employees in connection with the subject of accessibility for persons with disabilities.

Review

This multi-year accessibility plan was created in 2017 and will be reviewed at least every 5 years, unless otherwise required by law.

Further Information

For additional information on the multi-year accessibility plan, please contact Wells Fargo Canada?s Complaints Liaison as follows:

Wells Fargo Canada
22 Adelaide Street W, Suite 2200
Toronto, ON M5H 4E3
Toll-free telephone: 1-866-876-8688
Email: canadacomplaints@wellsfargo.com

This multi-year accessibility plan is available on Wells Fargo Canada?s website at www.wellsfargo.ca and can be provided in an alternate format, upon request.

For the purpose of this multi-year accessibility plan, Wells Fargo Canada refers to those entities prescribed by the Accessibility for Ontarians with Disabilities Act or its applicable regulations.