AIs should seek to protect the interests of all types of
customers when offering e-banking services to them.
In particular, AIs should respect the spirit of the Code
and the Treat Customers Fairly Charter (TCF) when
offering e-banking services to their personal
customers. For instance, AIs should set out and
explain clearly the key features, risks and terms of
their e-banking services to customers. Moreover, the
terms and conditions of an AI’s e-banking services
should provide a fair and balanced description of the
relationship between the customer and the institution.
Unless a customer acts fraudulently or with gross
negligence, he or she should not be responsible for
any direct loss suffered by him or her as a result of
unauthorized transactions in relation to the use of
e-banking services.