Timely tips from the Canadian Bankers Association

Last week, we reported on the efforts of Canada’s banks to ensure that they are Y2K compliant. The bankers report that they have done their homework (as far back as 1993!). Today, we present a list of things you can do to guarantee that your money passes into the millennium unscathed:

  • Keep your last bank statement or update your pass book regularly.

  • Keep transaction records from ABM deposits, withdrawals, and credit and debt card transactions until you receive your next statement.

  • Check your statements and credit card bills carefully against your transaction records and report any discrepancies to your bank as soon as possible.

  • If you receive your pay by direct deposit, has your employer confirmed that they will be able to transmit payroll information to their banks?

  • If you pay bills by direct debit from your account, are the companies you deal with Year 2000 compliant?

  • If you bank on-line, is your home computer Year 2000 compliant? It’s also a good idea to back up your accounts on disk.

  • Visit your bank’s website. They will have the latest information about their Year 2000 readiness.
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