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COVID-19


Last updated: April 11, 2020

Jump to: Latest updates - FAQs - Quick Info

We stand prepared and ready to help.

Like you, we’ve been closely monitoring the unique and ever-changing global health crisis. Our thoughts and well wishes are with those affected by the outbreak of the coronavirus, COVID-19.

We are committed to being there for you, our customer, regardless of how the situation unfolds and our team stands at the ready to support you. You rely on us for your everyday financial needs and we will continue to provide access to the important services you count on.

We stand prepared and ready to help

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Latest updates

CRA Direct Deposit

Receive your Canada Emergency Response Benefit and Canada Revenue Agency (CRA) payments and refunds faster.

CDIC: Protecting your deposits

Laurentian Bank of Canada is a member of the Canada Deposit Insurance Corporation (CDIC). Rest assured eligible deposits are protected by the CDIC.

You have questions, we're here for you

These are unprecedented times and we’re already experiencing a high number of inquiries and we appreciate your patience. To quickly answer some of your immediate questions, we’ve prepared these FAQs.

COVID-19

How can I access my account if I don't want to leave my home in this time of crisis?

We remain committed to ensuring that your financial needs are met. As always, you can access your account through mobile and online banking 24/7 at onlinebanking.lbcfg.ca.

You can view account balances, transaction history, send/receive money through IIFT, send/receive money with INTERAC e-Transfer®† (chequing account only), make Canadian bill payments (chequing account only) and manage your other banking needs.

I’ve been financially impacted by COVID-19, how can we help?

If you are facing financial challenges as a direct result of COVID-19, please reach out to us at 1-866-249-1489 so that we can help find a solution.

How do I transfer funds between accounts?

For questions relating to the functionality of your LBC Digital account, visit our FAQs.

HISA

Will my HISA rates continually drop if the Bank of Canada keeps reducing rates?

We are committed to having competitive rates for our HISA. At any point in time though, rates are subject to increase or decrease based on the economic environment and other factors.

Are my HISA deposits safe with LBC Digital?

Rest assured: your deposits remain secure
  • Recent events have not impacted the security of your LBC Digital deposits. Laurentian Bank of Canada is a Schedule I bank and is one of the oldest financial institutions in Canada (founded in 1846). To learn more about the Laurentian Bank Financial Group and our long-standing history of prudent management, good governance and history of success, visit lbcfg.ca.
  • Laurentian Bank is also a member of the CDIC* which protects eligible deposits at each of its member financial institutions to a maximum of $100,000 (principal and interest combined), per depositor per insured category. With your LBC Digital High Interest Savings Account coverage is free and automatic. For more information about the CDIC and its coverage, visit cdic.ca.

 

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Rest assured: your deposits remain secure

  • Recent events have not impacted the security of your LBC Digital deposits. Laurentian Bank is a Schedule I bank and one of the oldest financial institutions in Canada (founded in 1846). To learn more about the Laurentian Bank Financial Group and our long-standing history of prudent management, good governance and history of success, visit lbcfg.ca.
  • We are also a member of the CDIC* which protects eligible deposits at each of its member financial institutions to a maximum of $100,000 (principal and interest combined), per depositor per insured category. With your LBC Digital High Interest Savings Account coverage is free and automatic. For more information about the CDIC and its coverage, visit cdic.ca.

 

Financial relief initiatives

If you have been impacted by COVID-19, Federal and Provincial governments have announced various initiatives for Canadians facing hardship.

Quick info

The Government of Canada has introduced programs to provide support for individuals, businesses and industries. Highlights include:

  • The Canada Emergency Response Benefit (CERB) supports Canadians who have lost their job due to the COVID-19 virus between March 15 and October 3, 2020 with temporary financial assistance. The benefit amount of $2,000 is deposited every 4 weeks (equivalent to $500 a week) over a maximum period of 16 weeks.
  • Increases to the Canada Child Benefit
  • Special Goods and Services Tax credit payment
  • Extra time to file income tax returns
  • Improved access to Employment Insurance sickness benefits
  • Reduced minimum withdrawals for Registered Retirement Income Funds

For a full list of benefits, refer to the Government of Canada’s COVID-19 Economic Response Plan.

Depending on your province, additional programs may be available. Below are links to Provincial COVID-19 information.

New: Receive your Canada Revenue Agency (CRA) payments faster and more conveniently, without waiting for a cheque or needing a branch or ATM by signing up for direct deposit through LBC Digital Online Banking. Stay tuned for updates on availability, or visit the CRA website for instructions on how to sign up through CRA My Account.

Quick Info

Quick info

ATM — THE EXCHANGE Network ATM — THE EXCHANGE Network ATM — THE EXCHANGE Network ATM — THE EXCHANGE Network

With online banking you can easily check your balances and transfer funds between accounts.

With an LBC Digital Chequing Account you can also send and receive money using INTERAC e-Transfer®†, and pay bills. As well, certain transactions can take place through THE EXCHANGE®† Network ATMs.

Receive an INTERAC e‑Transfer Receive an INTERAC e‑Transfer Receive an INTERAC e‑Transfer Receive an INTERAC e‑Transfer
Beware of phishing scams
How to protect yourself from scams arising from COVID-19

During this pandemic, there are scammers looking to take advantage of the situation. Beware of fraudulent emails trying to trick you into revealing your personal information or clicking on links or attachments containing malware.

Here’s how to spot a scam to avoid becoming a victim.

New Learn how to avoid the latest scams arising from government benefits

With government measures in place, including the Canadian Emergency Response Benefit (ECP), scammers are taking advantage of the situation by sending fake text messages or emails on behalf of the Canada Revenue Agency or a financial institution. The recipient is asked to click on a link to receive government assistance. Please be aware that official institutions will NEVER use this means to notify you that they will be depositing a benefit or that you must click on a link to receive it.

Find out more

Committed to keeping you informed

We know that access to timely and relevant information is important to help you make decisions about your finances and banking activity.

Be the first to receive important information about Laurentian Bank of Canada products, services, special offers and promotions conveniently delivered directly to your inbox.

To join our mailing list, please fill out the form below.

Please note: Your name and email address will only be used for this mailing list and for verification purposes. For more information, please see our privacy policy.

*To be eligible for deposit insurance, deposits must be held in Canadian currency and payable in Canada. To find out more about deposit insurance from the CDIC, including what instruments and/or products are eligible for deposit insurance, visit cdic.ca or call 1-800-461-CDIC (2342). For a copy of the CDIC brochure Protecting Your Deposits, visit lbcdigital.ca.

®† INTERAC e‑Transfer is a registered trademark of Interac Corp. Used under license.

®† THE EXCHANGE is a registered trademark of Fiserv, Inc., licensed for use in Canada by FICANEX Services Limited Partnership.

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In order to answer your questions and reduce wait times, we invite you to go to our FAQ section.

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