THE 360 NEWSLETTER

Lately we have been noticing a higher number of payment rejections linked to clients’ closed bank accounts, meaning that the bank account may not have been validated at the time of redemption.

This situation can lead to delays in client payment of up to several days, as we have to wait for the bank rejection from the financial institution before we can initiate a new payment to the correct bank account.

In order to avoid these delays, we ask that you please pay special attention to this situation and validate that the bank account on file is still valid at the time of redemption. As a friendly reminder, it is the responsibility of the Representative to always use a valid bank account when confirming any transaction.

Similarly, it is very important to also ensure that the bank account used for purchases and PACs is valid in order to avoid returned items, such as non-sufficient funds.

Should you have any questions, please contact our Client Services Team, by email at investia@investia.ca, by phone at 1-888-684-5548, or use the chatbot feature on the Advisor Centre.