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Banking transactions

1.How do I order cheques?

 You can order cheques two ways:

  • By telephone – Contact one of our advisors at the Telebanking Centre at 1 877 522-3863, anytime, 24/7.
  • By web, on LBCDirect – Go on transactional section

2.How can I pay a bill?

Q: How can I pay a bill ?
A: You can pay a bill via LBCDirect online (including LBCDirect Mobile) or any Laurentian Bank automated banking machine.

Q: What is a bill with variable numbers?
A: It's a type of bill from the same organization but the bill number changes with every issue. For example: SAAQ.

Q: Can I pay a bill with variable numbers by phone?
A: No, it's not possible to settle a bill with variable numbers by phone.

Q: How do I go about settling a bill with variable numbers via LBCDirect Mobile?
A: You must first register the bill (fixed or variable number) with your account in order to make it available on LBCDirect Mobile.

Q: How do I go about adding a bill with variable numbers to my LBCDirect Internet account?
A: Akin to bills with fixed numbers, you can add a bill with variable numbers via the LBCDirect website (under the Bill payment tab). However, just click the Help tab for detailed instructions. In addition, you also have the option to call the Telebanking Centre at 514-522-1846 or toll-free at 1-800-252-1846, available 24/7/365. It will be their pleasure to be of assistance.

Q: Must I enter the bill number every time I pay a bill?
A: Since the bill number changes from one bill to the other (i.e. variable numbers), only the company name will be registered to your account. You will be required to enter the bill number for each payment.

Q: May I program post-dated payment on a bill with variable numbers?
A: Yes.  Post-dated payments may be programmed for both fixed and variable number bills via the LBCDirect website.


3.How do I issue a stop payment?

 You must make a stop payment by telephone by contacting one of our advisors at the Telebanking Centre at 1-877-522-3863 (service offered 24/7).
It’s possible to make a stop payment involving a personal account only if:

  • The cheque or preauthorized payment has not yet been debited from your account.
  • The funds equal to the amount of the payment are available in your account.

When you contact the Telebanking Centre, you should have the following information in hand:

  • name of the beneficiary of the cheque or payment
  • exact amount of the cheque or payment
  • date of the cheque or payment

Fees:

If all the necessary information is provided, and you don’t have the Gold Service plan , Financial Elite ou Privilege Plus or Senior Citizen Program, Indispensable Option a fee of $13 will be charged to your account. If the information required is incomplete, a fee of $20.00 will be applied to your account.


4.How do I make an international transfer to the Laurentian Bank?

Information required to process a transfer into a Laurentian Bank of Canada account is usually the following:

  1. Name of the beneficiary;
  2. The Laurentian Bank of Canada’s S.W.I.F.T. code (BLCMCAMM);
  3. The 5-digit transit number (begins with 0 followed by the branch number and ends with 1). For example, the transit number of branch 025 is 00251. This number appears on your monthly bank statement, on the LBCDirect website and at the bottom of your cheques;
  4. The bank account number as well as the suffix of the Laurentian Bank account;
  5. The postal address of beneficiary’s LBC branch;
  6. The Laurentian Bank’s institution number (039);
  7. The routing number (or “ABA”) of the Laurentian Bank of Canada (026 009 593).

Please note that cable transfers are subject to reception fees of $15.


5.How do I make an international transfer from the Laurentian Bank to another institution?

You may transfer funds from the Laurentian Bank to another financial institution via a wire transfer or a bank draft. A wire transfer is the fastest way to transfer funds abroad.

Processing time ranges from 1 to 15 days, depending on the destination, however the delay is not guaranteed.

The following information is required to perform a wire transfer:

  1. Name, address and account numbers of the beneficiary;
  2. The bank transit number and the account number to which funds must be transferred as well as the name and address of the bank;
  3. The receiving bank’s S.W.I.F.T. code;
  4. Reason for payment

Except for wire transfers made to Canada and the United States, please note that the IBAN* code of the beneficiary must absolutely be provided to make a wire transfer.

Transfer fees in Canadian currency are:

  • Transfer between $0.01 to $9 999.99: $20.00 per transfer;
  • Transfer between $10 000.00 to $24 999.99: $28.00 per transfer;
  • Transfer between $25 000.00 to $99 999.99: $40.00 per transfer;
  • Transfer between $100 000.00 and more: $70.00 per transfer.

Transfer fees in other currencies are (fees to be converted in $US if the funds are debited from a $US account):

  • Transfer between $0.01 to $4 999.99: $30.00 per transfer;
  • Transfer between $5 000 to $9 999.99: $35.00 per transfer;
  • Transfer between $10 000 to $24 999.99: $50.00 per transfer;
  • Transfer between $25 000 to $74 999.99: $70.00 per transfer;
  • Transfer between $75 000 and more: $75.00 per transfer.

Please contact your account manager or branch advisor for more information.



*The IBAN code, International Bank Account Number, is an international bank account numbering system. This code identifies the account and the bank, which facilitates transfers.


6.How can I transfer funds between my Laurentian Bank account and that of another financial institution?

 It’s possible to transfer funds from an account held at another financial institution to your Laurentian Bank account through our LBCDirect online banking service. However, it’s not possible to transfer funds online from your Laurentian Bank account to an account held at another financial institution.

If you wish to transfer funds from your Laurentian Bank account to an account held at another financial institution, you can establish a direct deposit agreement with the receiving institution.


7.How do I transfer funds between Laurentian Bank accounts?

A transfer of funds between two different accounts can be performed through LBCDirect in the "transfer" tab. You will be able to select between which accounts the transfer must take place. View the instructional videos for more details.

For business customers, you can transfer funds between your Laurentian Bank accounts by choosing one of the following:

  • Laurentian Bank & THE EXCHANGE® automatic banking machine*
  • Interac e-transfer®*
  • Official cheque (if the transfer is in Canadian $)
  • Bank draft (if the transfer is in American $)
  • Wire transfer
  • Electronic Funds Transfer (EFT)

Important: * For customers with 2 signatories or more, you must have a transactional access.


8.How do I cancel a pre-authorized payment?

Pre-authorized payments are agreements, usually contractual in nature, made between you and a given company. Therefore, if you wish to interrupt payments, you must contact the company directly to make appropriate arrangements. Pre-authorized payments should cease automatically. Please note that we do not have the authority to terminate a contract between you and another company.

However, if the company fails to interrupt payments, you must send them a letter by registered mail and keep the receipt (as proof of delivery). If the company ignores the letter, please inform a branch representative and he/she will suggest appropriate actions to cease payments. Make sure to keep copies of emails and other correspondence to and from the company acknowledging your request.


9.What is the holding period on my funds?

The maximum holding period on deposits of cheques is 5 business days, regardless of the amount deposited. Refer to the My transaction tools brochure for more details.


10.What is an INTERAC e-Transfer?

INTERAC e-Transfer lets you receive or send money to anyone who has an account with a participating Canadian financial institution.


11.How much does it cost to send or receive an INTERAC e-Transfer at Laurentian Bank?

Sending: a $1 fee is charged for each INTERAC e-Transfer sent.

In addition, withdrawal fees may apply depending on the minimum balance held in your account or the number of transactions included in your banking package.

Receiving: there is no fee for receiving an INTERAC e-Transfer through LBCDirect.


12.What are the send and receive limits on INTERAC e-Transfers?

INTERAC e-Transfers sent via LBCDirect are subject to the following limits:

  • $3,000 per transaction
  • $10,000 per 7-day period
  • $20,000 per 30-day period


These delays apply starting on the transaction date and end 7 or 30 days later, as the case may be, after the transaction date in question. For example, if an INTERAC e-Transfer is sent on December 10, at noon, the 7-day delay remains in effect until December 17, at noon. As for the 30-day delay, it remains in effect until January 9, at noon.

The limits applicable to receiving an INTERAC e-Transfer through LBCDirect are as follows:

  • $25,000 per transaction

13.Is INTERAC e-Transfer always available?

INTERAC e-Transfers can be sent at any time (24 hours a day, 7 days a week).

The recipient receives a transfer notification via email or text message, usually within 30 minutes of sending, and the funds can be deposited to their account immediately. The funds and applicable service fees are withdrawn from the sender’s account as soon as the transfer request is made. Please note that the $1 fee charged for sending the transfer is not refundable.


14.Can anyone use INTERAC e-Transfer?

Anyone with an email address, access to LBCDirect online or mobile banking and a Canadian bank account can send money with INTERAC e-Transfer.

You can send money to someone using their email address or mobile phone number.

Funds may be received by recipients who don’t use or have access to online banking with their financial institution, but certain conditions have to be met. For more details, please visit INTERAC.ca.


15.Can I save email addresses from previous or frequent transfer recipients?

Yes. The INTERAC e-Transfer service allows you to set up multiple receivers, and keeps the information on file. When sending an e-Transfer, simply select your recipient from the drop-down list. Recipients can be edited or updated at any time.


16.Can a transfer be cancelled once it has been sent to the recipient?

Yes, if the recipient has not deposited the funds in their account. Once the transfer has been received, the transaction can no longer be cancelled. Please note that the $1 fee charged for sending the transfer is not refundable.


17.Tracking your INTERAC e-Transfer?

You can view your INTERAC e-Transfer transaction history and any transfers being processed (pending) using LBCDirect Internet. To view your transfer history, log on to LBCDirect. Once your LBCDirect session is open, click “View: Pending" or "View: History" in the "Send INTERAC e-Transfer" section to view the appropriate transactions.


18.What do I do if I suspect fraud?

If the transaction has not yet been received by the recipient, you can choose to cancel the transaction from the Pending e-Transfers screen. If the transaction has already been completed and funds deposited to the receiver, then contact us.


19.How long does someone have to receive an INTERAC e-Transfer?

INTERAC e-Transfers expire 30 days after they’re sent if the recipient has not deposited the funds. Once the 30-day period has expired:

  • The recipient of the transfer will no longer be able to deposit the funds.
  • The sender will be notified that the funds will be deposited back into their account. Please note that the $1.00 transaction fee will not be refunded.

20.Why can’t I see the Cancel or Resend links for the e-Transfer I just sent?

The Cancel and Resend links will appear once the e-Transfer has been received and processed by INTERAC, and the notification has been sent to the recipient, which may take up to 30 minutes*.

Once the sent transfer has been processed by INTERAC, you have the option of cancelling the transfer or resending the notification.

When the transfer has been completed, and funds received/deposited by the recipient, the e-Transfer will show a ‘Completed’ or ‘Processed’ status. Once completed, you cannot cancel the transaction.

Depending on the volume of e-Transfers being processed by INTERAC, this process may take as long as 2 hours, but on average you can expect processing within 30 minutes


21.Will you continue to offer LBCDirect transfer service to other Canadian banking institutions?

The current LBCDirect service for transferring funds to another Canadian banking institution will continue to be offered. This service enables you to transfer funds between two accounts, once your Laurentian Bank account has been linked to an account held at another banking institution.


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