THE 360 NEWSLETTER

Usage of PPI Bank Card No Longer Permissible

Compliance June 20, 2024

Please be advised that effective June 24, 2024, the usage of the PPI bank card will no longer be permitted.

The reason for this change is to respect FINTRAC’s anti-money laundering regulation and ensure that we can properly identify the client.

  • For client-name accounts: all payments will need to be made payable and sent to the specific insurance carrier.
  • For nominee accounts: all payments will need to be made payable to Investia Financial Services Inc. and deposited into the Investia account using the Investia bank card.

Note: All PPI bank cards will eventually be revoked.

Should you have any questions or require additional information, please do not hesitate to contact your Compliance Officer.