Bill C-429 (Historical)

An Act to amend the Bank Act (automated banking machine charges)

This enactment prohibits a bank from making a charge for the electronic transfer of funds or the communication of account information through the use of an automated banking machine, whether the machine is owned or operated by the bank or by another person.

Financial Institutions

[Chris Charlton, NDP, Hamilton Mountain, ON]

Mr. Speaker, my question was not about access to ATMs. It was about the cost of that access.

Our bill, Bill C-429, demonstrates that the government does have the power to act to end ATM fees but that the minister is abdicating his responsibility to protect ordinary Canadians.

As former Prime Minister Brian Mulroney once said to John Turner, “You, sir, had a choice”. The minister is choosing not to help hard-working Canadians. He can but he will not.

Will the government do the right thing today and act on the power invested in its office?

Bank Act

[Judy Wasylycia-Leis, NDP, Winnipeg North, MB]

moved for leave to introduce Bill C-429, An Act to amend the Bank Act (automated banking machine charges).

Mr. Speaker, I am very pleased to introduce this bill that would amend the Bank Act to prohibit ATM fees. The bill would prohibit banks from charging their customers fees for transferring their money or account information through automated banking machines.

Canada's banks currently charge customers these fees for accessing their own money through the bank's own ATMs, other banks' ATMs and privately owned machines. These fees, in our view, are excessive and unnecessary, especially given the huge profits of these institutions, and they are fees that could be easily waived by the banks. This bill would give average Canadians a break on their basic banking charges.

I believe all Canadians would benefit from this change, particularly those on tight budgets. I urge all members to support this initiative.

(Motions deemed adopted, bill read the first time and printed)