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)