4 ms·

Isn't there something like a right to own a deposit bank account in Cananda? Or is it too difficult to actually enforce this law?

brazzy 3y ago
My guess would be that a "right to bank" would only apply to individuals, not to businesses.
gspencley 3y ago
Exactly what brazzy said. Lots of rights for individual persons, but businesses need to be complete open books about their activities (Know Your Customer regulations) and banks have ultimate discretion when it comes to who they want to do business with. We consulted with a lawyer, not because we thought what our bank did was actionable, but just to explore options. First thing our lawyer said to us is "I want to make sure that you're not expecting that I can waive my magic lawyer wand and force the bank to reverse their decision right?" Of course we didn't expect that, but I did want to know if we had any rights that were being infringed and I had a few ideas about what to do with the business's money should the worst case scenario play out and I wanted to get a legal opinion and advise.
- bondant 3y ago
  It's a shame no such rights exists in Canada... I think that in France it does exist such a right for individuals AND businesses. Any individuals or business that have been denied a bank account should be able to get a designated bank by the Banque de France. Here's the form for businesses: https://particuliers.banque-france.fr/sites/default/files/media/2022/06/23/formulaire_dac_personne_morale_en_anglais.pdf https://particuliers.banque-france.fr/sites/default/files/me... More informations (in french): https://particuliers.banque-france.fr/info-banque-assurance/droit-au-compte/faq-sur-le-droit-au-compte https://particuliers.banque-france.fr/info-banque-assurance/...
  - savingsPossible 3y ago
    wow This might be a blessing for anyone, even outside France. Is it too hard to open a subsidiary there? (Yep, you'd lose some money to fees, which still hurts...)

brazzy 3y ago

My guess would be that a "right to bank" would only apply to individuals, not to businesses.

gspencley 3y ago

Exactly what brazzy said. Lots of rights for individual persons, but businesses need to be complete open books about their activities (Know Your Customer regulations) and banks have ultimate discretion when it comes to who they want to do business with. We consulted with a lawyer, not because we thought what our bank did was actionable, but just to explore options. First thing our lawyer said to us is "I want to make sure that you're not expecting that I can waive my magic lawyer wand and force the bank to reverse their decision right?" Of course we didn't expect that, but I did want to know if we had any rights that were being infringed and I had a few ideas about what to do with the business's money should the worst case scenario play out and I wanted to get a legal opinion and advise.

bondant 3y ago
It's a shame no such rights exists in Canada... I think that in France it does exist such a right for individuals AND businesses. Any individuals or business that have been denied a bank account should be able to get a designated bank by the Banque de France. Here's the form for businesses: https://particuliers.banque-france.fr/sites/default/files/media/2022/06/23/formulaire_dac_personne_morale_en_anglais.pdf https://particuliers.banque-france.fr/sites/default/files/me... More informations (in french): https://particuliers.banque-france.fr/info-banque-assurance/droit-au-compte/faq-sur-le-droit-au-compte https://particuliers.banque-france.fr/info-banque-assurance/...
- savingsPossible 3y ago
  wow This might be a blessing for anyone, even outside France. Is it too hard to open a subsidiary there? (Yep, you'd lose some money to fees, which still hurts...)