What are your business hours? 

Monday through Friday, 8:30AM – 5:00 PM Mountain Time. Our office is closed on weekends and statutory holidays.


How do I make extra payments or pay out my auto loan?

Option 1 – Bill Payment

You may make a bill payment from your personal bank account through your online access, telephone banking or in branch. GBC Online cannot be used to make bill payments.

To set up a bill payment online, go to your bill payments section and choose the option to “add a payee.”  Search for “General Bank of Canada”. You will find us listed as a bill payee.

For your account number, enter your 5 or 6 digit loan number. Your loan number is listed on your Welcome Letter or can also be found when you login to GBC Online.

Enter the amount you wish to send.

Bill payments take 1-2 business days to be received.  Please note that extra payments are applied as principal payments to reduce the overall balance of your loan.  There is no limit to the amount or number of extra payments you can make.

Option 2 – Mail a Cheque or Draft

You may send in a cheque or draft in Canadian Funds, made payable to General Bank of Canada, to the address below. Please note that all co-payable cheques/drafts must be endorsed by the co-payable party before being forwarded to our office.

General Bank of Canada
#100, 11523-100 Avenue
Edmonton, AB T5K 0J8

Unfortunately, we are unable to accept payment by credit card, e-transfer, or wire transfer.


Is there a penalty to pay out my auto loan?

No. General Bank of Canada auto loans are fully open without penalty. You may make extra payments or pay out your loan at any time. For updated payout information, please contact our office at 1.877.443.5620 or send us an email at loanadmin@generalbank.ca.


What happens once I have paid out my loan?

Once payout is received and all payments have finished processing, we will fully close out the loan and report the Closed with Zero Balance status to both Equifax and Trans Union credit bureaus. Please note it can take 30-60 days for the status to be updated by the bureaus. We will also discharge the lien within 30 days from date of payout as per Canadian Law.  We do not automatically issue a letter of release; however, you may request one once the loan has been fully closed by contacting us via telephone at 1.877.443.5620 or by email at loanadmin@generalbank.ca. This letter will state that your loan has been paid in full and that General Bank of Canada has no further interest in the vehicle.


How can I update my banking information?

In order to change the account that your automatic withdrawal comes from,  please send a completed pre-authorized debit form in your name or a scanned void cheque with your name on it to loanadmin@generalbank.ca or by fax to 780-443-5628.

Please note we are unable to debit from a line of credit account. If the new account is your personal savings account, please ensure your bank has coded the account to allow debits.

If the banking information is for your company, we require additional documentation showing that you have signing authority for that company account:

  • If it is a sole proprietor business, we will accept your business license showing that the business is yours.
  • If the company is limited or incorporated, we will require the articles of incorporation which show the complete list of directors including your name.


My vehicle was written off and I have a co-payable cheque from my insurance company. What do I do with the cheque? 

Please have all parties whose names appear on the front of the cheque sign the back of the cheque. The cheque can then be sent to our office at the address below:

General Bank of Canada
#100, 11523-100 Avenue
Edmonton, AB T5K 0J8

Your bank will not be able to deposit or cash a co-payable cheque—this may result in the funds being recalled from your bank account.
If the settlement is enough to pay the loan in full, once payment is received and applied, the loan will be closed. Any overpayment will be refunded to you once all pre-authorized payments have finished processing.

If the amount is not sufficient to pay the loan in full, please make arrangements to settle the remaining balance in full as soon as possible.


Do you send account statements?

We do not send periodic statements; however, we offer online access to allow you to view your account and print statements anytime. Please contact us by phone at 1.877.443.5620 or send us an email at loanadmin@generalbank.ca to set up your access.


What information can I access from GBC Online?

The General Bank of Canada online portal will show your remaining principal balance. Please note you must contact us directly for a payout balance if you are wanting to settle your loan in full.


What is the difference between the amount on the GBC online portal and the payout amount?

The balance shown is not the full payout balance but the principal balance as at your last payment date. The amount referenced online only updates after each payment and does not take into account the daily interest that has accumulated since the last payment date. To receive a valid loan payout balance please call 1.877.443.5620 or email loanadmin@generalbank.ca.


How can I update my address or phone number?

Please call 1.877.443.5620 or email loanadmin@generalbank.ca to update your contact information.  If you have access to GBC Online, you can also update your information in your profile settings.


Can I change the insurance coverage on the vehicle while I’m not using it?

Comprehensive and Collision insurance coverage must be maintained at all times while the loan is open; however, you may choose from whichever deductible amounts that your insurance provider offers.


How does GBC manage my privacy?

General Bank of Canada respects your Personal Information and provides access to our Privacy Policy on our website. You can review our Privacy Policy for more information on how we protect your Personal Information, including the type of personal information we collect, the use, disclosure, and retention of that information, and provisions for how to obtain access to your Personal Information.


Does GBC offer banking services to Seniors?

GBC does not have specific products or services for seniors. However, GBC does observe the Canadian Bankers Association Voluntary Code of Conduct for the Delivery of Banking Services to Seniors, as well as the Commitment on Powers of Attorney and Joint Accounts.