COVID-19 Situation

Frequently Asked Questions (FAQ)

1.Is your branch network open?

Most of our branches remain open since they offer services considered essential. However, branch hours have been reduced. Branches are now open from 10 a.m. to 2 p.m. for an indefinite period.

Please consult the branch locator before visiting one of our locations.

Despite some closures, our teams are here and ready to help you with your financial needs. Please do not hesitate to contact your advisor. Book your telephone appointment.


2.Which branches are closed to the public?

All of our branches are currently open. Please consult the branch locator before visiting one of our locations.


3.Are your branch hours affected?

We continue to be there for our customers. However, opening hours for branches and points of service still open to the public are now 10:00 a.m. to 2:00 p.m., Monday to Friday. Advisors remain available to help you with your financial needs at all times, during regular hours. Customers are asked to make an appointment before showing up.

Our branch hours may be reduced without notice due to the unpredictable nature of the situation. Please consult the branch locator before visiting one of our locations.


4.What options do I have to avoid visiting a branch?

Several solutions are available to do your banking 24/7:

  • LBCDirect electronic services, both online and over the phone.
  • The Telebanking Centre, by calling 1-800-252-1846.

Your advisor is ready to help you with your financial needs. Banking throughout our network can be done by telephone. Book your telephone appointment.


5.Are the ABMs still functional?

Yes, most of Laurentian Bank’s ABMs are operational, including those located in shopping malls. Note that the following ABMs in these locations are closed indefinitely:

ABMs temporarily closed
400 Beaubien Street East, Montreal 1675 Notre-Dame Street, Lachine
5487 Monkland Avenue, Montreal 491 Ste-Marie Street, Marieville
5000 St-Denis Street, Montreal 1025 Du Séminaire Blvd. North, Suite 2, St-Jean-Sur-Richelieu
253A Dorval Avenue, Dorval 320 Bank St., Brownsburg
11497 Gouin Blvd. West, Roxboro  

To find the closest alternative ABM, please check the locator. Note that Laurentian Bank ABMs are subject to the increased cleaning measures and are being stocked as usual.


6.Have you implemented specific hygiene measures at your points of service?

Yes, we have taken several preventive measures to protect our customers and employees, such as adding alcohol-based antiseptic gel dispensers and sanitizing wipes, Plexiglas installation, adding floor markers to help individuals respect two-metre distancing, mandatory wearing of a mask or face covering, and enhanced cleaning services. Gloves and masks have also been made available to employees to ensure everyone’s safety.

Furthermore, access to our branches and points of service is prohibited for anyone who has recently travelled, been in close contact with someone who has travelled or is exhibiting symptoms, or who are themselves experiencing symptoms, or refusing to wear a mask or face covering. We are continually re-evaluating the situation to provide a safe environment for our employees and customers.


7.Have you implemented special hygiene measures around ABMs?

Yes, we have installed Plexiglass panels wherever it was possible to do so, and increased the frequency of cleaning. In addition, anyone wishing to use ABMs must wear a mask or face covering and comply with social distancing rules by keeping a minimum distance of two metres when waiting for and using ABMs. We are continually re-evaluating the situation to provide a safe environment for our employees and customers.


8.Do I have to wear a mask while visiting a branch?

Yes, the Bank is following Public Health guidelines regarding the mandatory wearing of a mask or face covering for all employees and customers visiting a branch.

Approved masks or face coverings include surgical masks (blue mask) and home-made masks or those made by a company (handcrafted masks). Note that the visor does not replace the mask since it is not considered waterproof by the provincial government.


9.I cannot wear a mask for medical reasons. Can I still visit a branch?

For the health and safety of our employees and customers, we do not admit people without masks. Since most banking can be done remotely, we suggest that you book a telephone appointment with your advisor.


10.What is Laurentian Bank doing to help its customers who are struggling financially during this difficult time?

Laurentian Bank Financial Group (LBCFG) is committed to supporting its personal banking and business customers during the COVID-19 pandemic. If you need financial relief or are experiencing difficulties making payments on mortgages, personal loans, or other credit products, we invite you to contact your advisor or account manager, who can help you analyze the various options available to you. As everyone’s situation is unique, each will be carefully reviewed on a case-by-case basis.


11.Should I continue to make payments on my financing products?

Yes, you must continue to make payments on your financing products, otherwise you will be deemed in default of payment. If your financial situation is affected by the COVID-19 crisis, we’re here for you. We invite you to contact your advisor or branch to give them an update on your financial health and assess the various options available to you. We will assess your situation together and review your financial health. Due to COVID-19, we recommend having phone meetings as much as possible.


12.I am facing financial hardship as a direct result of COVID-19. What are my mortgage (conventional or insured) payment deferral options?

If your financial situation is affected by the situation surrounding COVID-19, we are here for you. We invite you to contact your advisor or branch to assess the various options available to you. Due to COVID-19, we recommend having phone meetings as much as possible.


13.I want to renew my mortgage, but my co-borrower is hospitalized. What do I do?

If the hospitalized person is available by phone, your advisor will arrange a conference call or separate calls with all co-borrowers to obtain their consent before finalizing the transaction.

If the hospitalized person is in intensive care or cannot be reached, our compliance team will analyze the situation to assess the options available to you.


14.I am facing financial hardship as a direct result of COVID-19. What are my personal loan payment options?

If your financial situation is affected by the situation surrounding COVID-19, we are here for you. We invite you to contact your advisor or branch to assess the various options available to you. Due to COVID-19, we recommend having phone meetings as much as possible.


15.If I deferred my mortgage or personal loan payments, will my credit score be affected?

No, payment deferrals will not be deemed a default on payment and they will not affect your credit rating.


16.I am facing financial hardship as a direct result of COVID-19. What are my Line of Credit (LOC or HELOC) payment options?

At this time, we are not offering payment relief measures for our lines of credit (LOC, RRSP or HELOC). If you are experiencing financial difficulties, please contact your advisor or branch to assess the various options available to you. Due to COVID-19, we recommend having phone meetings as much as possible.


17.I am facing financial hardship as a direct result of COVID-19. What are my Visa Credit Card payment options?

Please consult the FAQ – Visa.

If you hold a Visa Business card, please contact your branch or account manager who can help review the various options available to you. We review each situation on a case-by-case basis. Other relief measures may be available, including the Canada Emergency Business Account (CEBA).


18.I need more available credit. What financing solutions can you offer?

We have various products that can help you. Depending on your personal situation, we can increase the limit of your current credit products or provide you with additional options. Please call 1-800-252-1846 to speak with one of our customer service representatives, or call your advisor or account manager directly. Our team will be happy to provide a solution that works best for you. Due to COVID-19, we recommend having phone meetings as much as possible.


19.I don’t want to or can’t visit my branch to sign my financing agreement. Is there any other solution?

Yes. Two secure and compliant solutions are available for you to sign a financing agreement remotely (personal line of credit, mortgage financing [mortgage loan or equity line of credit] or personal loan):

  • By email: Sending documents as password-protected attachments.
  • By standard mail: Sending documents to the address listed in the customer’s file.

You get to choose the transmission method. For more information on remote financing agreements, contact your advisor or branch.


20.I am struggling financially due to the COVID-19 crisis and my cheque/pre-authorized payments may be refused due to insufficient funds. What should I do?

If you are experiencing financial hardship because of the pandemic, we may, on an exceptional basis, issue stop payments even if your account balance is insufficient to cover the amount of the cheque or pre-authorized payment. The Bank has implemented a range of relief measures to help its customers experiencing hardship. We invite you to contact your advisor or branch to learn about the best solutions available to you


21.I do not have access to the Internet. How can I make my minimum payments?

LBCDirect services are also available over the phone. You can also use your client card to do your banking at Laurentian Bank and THE EXCHANGE® ABMs - at no additional cost. Both services are available 24/7. To find an ABM near you, consult the ABM locator.


22.How can I keep up to date with Laurentian Bank notices?

Please ensure that you've provided up-to-date contact information, including your email address, so we can send you the latest updates. You can easily change your contact information under LBCDirect's "My profile" section or by dialing 1-800-252-1846.


23.I worry about my investment portfolio. What can I do?

We understand that you may be concerned about the current market situation and we recommend that you contact your advisor for guidance. As a financial professional, they will be able to review your investor profile and ensure that it aligns with your investment portfolio. Since each investor’s situation is unique, they will also be able to advise you on the best strategies to adopt. Book your telephone appointment.

This article may interest you : "COVID-19 and market volatility - Risk or opportunity?"


24.Are my assets with the Bank protected?

Rest assured that your assets are well protected. The Bank is a member of the Canada Deposit Insurance Corporation (CDIC), which protects your insurable deposits. We remain a strong financial institution. For more information, visit https://bit.ly/2xKN7nZ.


25.I think I’ve been a victim of fraud. What should I do?

If you believe you have been a victim of fraud or phishing, please contact our Fraud Prevention Centre (514-284-7570 or 1-800-263-8980). Here how to spot a scam to avoid becoming a victim: https://bit.ly/2Qyig4O


26.I have questions about my Visa travel insurance, who do I contact for more information?

Medical emergencies: If you are abroad in a situation of medical emergency, please contact your insurer's medical team and assistance specialists by phone. The phone numbers to reach this service are generally at the bottom of your travel insurance distribution guide.

Other questions: Please consult the information available on the website at http://canassistance.com/en/faq-covid-19/, including the FAQ updated regularly. You can also contact customer service agents at 1-877-287-8334.


27.Can I use my LBC Visa credit card to make contactless payments for grocery and pharmacy purchases of more than 100$?

Yes, you can now use your Laurentian Bank Visa card to make contactless (payWave) payments for transactions of up to $250 in grocery stores and pharmacies only. However, contactless payment limits are also determined by merchants. This measure is being implemented temporarily to help our customers during the COVID-19 pandemic.


29.I live in a retirement home and I need to go to a branch or meet with my advisor. What should I do?

In order to comply with the provincial government’s directives, access to our branches and points of service is prohibited to people under mandatory quarantine. Since these directives ask people who live in retirement homes to avoid going outside without supervision, we ask that you talk to your advisor about remote transactions and the other options offered to you.


30.I have a student loan and my cash flow has been reduced during the COVID-19 crisis. What can you do to help me?

Due to COVID-19, the government is postponing student loan debt repayment, which means that you will have no payments to make during the next six months. In addition, no interest will be calculated or added to your loan debt. There is nothing you need to do. The measure automatically applies to all Aide financière aux études customers, including those whose accounts are in collection. For more information, visit https://www.quebec.ca/en/education/student-financial-assistance/repayment/.


32.I’d like to set up CRA direct deposit to receive the Canada Emergency Response Benefit. How do I go about this?

Sign up for direct deposit in just a few clicks through LBCDirect. Note that to receive it, you will need to set up a CRA "My Account" on the Canada Revenue Agency (CRA) site.

For questions regarding direct deposit, consult the FAQ – Direct Deposit​.


33.I signed up for direct deposit to receive the Canada Emergency Response Benefit (CERB) but I received a cheque by mail for my first payment. Why?

Due to an exceptional delay, you have received your first benefit payment by mail. Rest assured however that future payments will be made by direct deposit, using the account information you provided. To verify the direct deposit information that’s on file for you, please go to the Canada Revenue Agency (CRA) website and sign in to “My Account”.


34.If I deposit my Canada Emergency Response Benefit cheque at the ABM, will there be a hold on my funds?

Depositing this cheque is subject to the holding policies in effect based on your personal limit (personalized rating) and the amount of the cheque. For more information, please contact your advisor or branch.

Direct deposit is a quick and convenient way to receive the Canada Emergency Response Benefit (CERB) and other refunds from the Canada Revenue Agency (CRA) without your funds being held. To sign up for direct deposit, go to LBCDirect or call the Telebanking Centre at 1-800-252-1846.

Refer to the section on Direct Deposit.