Canada Post Strike: Canadian Bankers Association Provides Recommendations for Bank Customers

TORONTO, ONTARIO--(Marketwire - June 3, 2011) - With Canada Post now on strike, this action could affect bank customers who receive information by mail, since the strike could disrupt the delivery of statements, bills and other communication.

"Banks have been monitoring this situation for some time and have many different ways that customers can monitor their accounts and check and pay their bills without relying on mail delivery," said Maura Drew-Lytle, Director of Communications for the Canadian Bankers Association (CBA). "It is important that customers understand that they are still responsible for making regular payments on their credit cards, bills, mortgages and other loans even though they may not receive statements or bills by mail due to the strike."

To ensure that bank customers can continue to track their banking transactions and do not fall behind in their payments, the CBA is providing the following recommendations:

• Consider signing up for online banking rather than paying bills by mail. This will allow you to view your bank transactions throughout the month.

• Bills can be paid through online, telephone or mobile banking, at an ABM or at a bank branch.

• Payment dates and amounts for credit cards, mortgages and other loans can be obtained through telephone or online banking or at a bank branch.

• Consider requesting electronic delivery of statements and credit card bills by e-mail or through online banking so you won't miss any payment deadlines.

• For services from other companies such as phone, cable or utilities, contact that organization or look on its website for information about making payments and receiving statements.

• Consider setting up pre-authorized debits for regular payments so that the amount will be automatically debited from your bank account when it is due. Regular payments can also be automatically charged to your credit card if you prefer.

• If you receive cheques or regular payments from other organizations or government agencies, find out how you can receive these payments in other ways. If possible, sign up for direct deposit so the payments are automatically deposited into your bank account.

Customers with specific questions about how the Canada Post strike could impact their own day-to-day banking are encouraged to call their bank, visit its website, or stop by their local branch.

The Canadian Bankers Association works on behalf of 52 domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 267,000 employees. The CBA advocates for effective public policies that contribute to a sound, successful banking system that benefits Canadians and Canada's economy. The Association also promotes financial literacy to help Canadians make informed financial decisions. www.cba.ca.

Follow the CBA on Twitter: @CdnBankers