About bank
Peoples Bank, a division of Peoples Group, stands as a significant player in the Canadian financial landscape, offering a range of banking solutions to communities across the country. Based in Vancouver, British Columbia, Peoples Bank operates as a subsidiary of Peoples Trust Company, demonstrating a commitment to serving Canadians with tailored financial services. With a focus on customer-centricity, Peoples Bank endeavors to provide a seamless banking experience, leveraging its extensive product knowledge and decades-long expertise in the financial sector.
At Peoples Bank, consumers find a comprehensive suite of banking products and services designed to meet diverse financial needs. From accounts for everyday transactions to mortgage solutions tailored to various life stages, Peoples Bank aims to empower individuals and businesses alike to manage their finances effectively. Through its online banking platform and physical branches in key locations such as Vancouver, Calgary, and Toronto, Peoples Bank ensures accessibility and convenience for its customers, fostering strong connections with communities across Canada.
Key features
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Diverse Banking Solutions. Peoples Bank offers a wide range of banking products and services, including checking and savings accounts, mortgages, and investment options.
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Online Banking Platform. With a user-friendly online banking platform, customers can conveniently manage their accounts, transfer funds, pay bills, and access financial services anytime, anywhere.
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Mortgage Origination. Peoples Bank specializes in mortgage origination, catering to multi-family, commercial, construction, and residential properties, providing tailored solutions to meet varying needs.
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Competitive Rates. Customers benefit from competitive rates on mortgages and savings products, helping them reach their financial goals faster.
Pros and cons
Pros
Cons
Peoples Bank requirements
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Identification Documents. Valid identification documents such as a passport, driver's license, or government-issued ID are required to open an account with Peoples Bank.
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Proof of Address. Customers need to provide proof of their current address, which can be in the form of a utility bill, lease agreement, or other official documents.
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Minimum Deposit. Some accounts may require a minimum initial deposit to open, which varies depending on the type of account selected.
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Employment Information. For certain banking services, customers may need to provide employment information, including employer details and proof of income.
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Credit History. Peoples Bank may assess customers' credit history when applying for certain financial products such as loans or credit cards.
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Legal Age. Applicants must meet the legal age requirement to open a bank account, which is typically 18 years old in Canada.
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Residential Status. Customers need to verify their residential status, whether they are a Canadian citizen, permanent resident, or non-resident, as this may affect eligibility for certain banking services.
Access on the go
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ATM Access. Peoples Bank provides convenient access to ATMs nationwide, allowing customers to withdraw cash, check balances, and perform other transactions 24/7.
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Mobile App. The Peoples Bank mobile app offers customers the flexibility to manage their accounts on the go. With features such as mobile check deposit, fund transfers, bill payments, and account monitoring, the app provides a seamless banking experience from the convenience of a smartphone or tablet.
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Online Account Management. Through the online banking platform, customers can access their accounts securely from any internet-enabled device. From checking balances to transferring funds between accounts, online account management empowers customers to handle their banking needs anytime, anywhere.
Peoples Bank products
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Checking Accounts. Peoples Bank offers a variety of checking account options tailored to suit different needs, from basic accounts with no monthly fees to premium accounts offering additional benefits such as interest-bearing features or unlimited transactions. Checking accounts provide customers with convenient access to their funds for everyday transactions such as paying bills, making purchases, and withdrawing cash.
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Savings Accounts. Peoples Bank provides savings account options designed to help customers grow their funds while keeping them easily accessible. Whether customers are saving for short-term goals or long-term objectives, Peoples Bank offers competitive interest rates and flexible account features to help them achieve their financial goals.
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Certificates of Deposit (CDs). Peoples Bank offers certificates of deposit with competitive interest rates and various term lengths to suit customers' investment preferences. CDs provide a secure way to earn higher interest rates than traditional savings accounts by committing funds for a specific period, making them ideal for customers looking to save for future goals or earn passive income.
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Money Market Accounts. Peoples Bank's money market accounts offer customers the opportunity to earn higher interest rates while maintaining liquidity. With features such as check-writing capabilities and tiered interest rates based on account balances, money market accounts provide flexibility and growth potential for customers' savings.
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Mortgages. Peoples Bank specializes in mortgage origination, offering a range of mortgage products to help customers achieve their homeownership dreams. Whether customers are purchasing a new home, refinancing an existing mortgage, or investing in real estate, Peoples Bank provides personalized mortgage solutions with competitive rates and flexible terms.
Peoples Bank services
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Online Banking. Peoples Bank offers a comprehensive online banking platform that allows customers to manage their accounts conveniently from anywhere with internet access. Through online banking, customers can view account balances, transfer funds between accounts, pay bills electronically, set up alerts, and access electronic statements.
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Mobile Banking. The Peoples Bank mobile banking app provides customers with on-the-go access to their accounts via smartphones and tablets. With features such as mobile check deposit, account alerts, fund transfers, and bill payments, the mobile app offers flexibility and convenience for managing finances anytime, anywhere.
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ATM Services. Peoples Bank provides access to a network of Automated Teller Machines (ATMs) nationwide, allowing customers to withdraw cash, check balances, transfer funds, and deposit checks or cash outside of traditional banking hours. With widespread ATM availability, customers can conveniently access their funds wherever they are.
Which associations does Peoples Bank belong to?
Canada Deposit Insurance Corporation (CDIC). Peoples Bank is a member of CDIC, which provides deposit insurance protection to eligible deposits held at member institutions in the event of a bank failure or closure, up to certain limits.
Peoples Bank reliability
Peoples Bank maintains a reputation for reliability within the Canadian financial sector, offering a range of banking products and services backed by decades of industry experience. As a member of reputable associations such as the Canada Deposit Insurance Corporation (CDIC), Peoples Bank provides customers with deposit insurance protection, contributing to a sense of security and trust. While like any financial institution, Peoples Bank may encounter occasional challenges or customer concerns, its commitment to adherence to banking regulations and standards, coupled with a customer-centric approach, underscores its reliability in serving the needs of individuals and business entities across Canada.
Editorial opinion
Additional resources
- Peoples Bank Customer Reviews
