I heard about fraud related to a dealership you work with. Is my information safe?
We have no indication of any impact to our customers. The isolated fraud incident was confined to a specific dealer and rigorous containment actions were swiftly taken. Protecting customers is our top priority. Importantly, no existing GBC customers were impacted by this incident.
Are you still financially stable? Should I worry about my account?
We remain very financially stable with strong capital reserves. No actions are needed on your accounts which continue to be fully protected. This was an isolated incident that is fully under control. Additionally, we have learned this fraud scheme impacted several other major banks in the industry as well.
What steps are you taking to prevent this in the future?
We have robust controls to deter fraud. The circumstances of this case are unique. However, we are thoroughly analyzing the incident to identify and close any potential gaps as part of our commitment to continuous improvement in risk management and cybersecurity.
How did this fraud happen? Where was the necessary oversight?
Isolated incidents can occur despite rigorous controls. In this unique case, a trusted external party circumvented control. We took swift and thorough actions upon learning of the issue. Our oversight processes remain robust, and we are committed to continuously strengthening defenses.
As your customer, how can I be sure my information and accounts are safe?
Safeguarding customer information and funds remains our utmost priority. We maintain robust security protections and monitor accounts for suspicious activity. We stand behind our commitment to customer safety.
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.
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 alternatively you can contact Customer Service at 1.877.443.5620 or email firstname.lastname@example.org.
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.
Do you send account statements?
We do not send periodic statements; however, we offer a new self-directive Loan Payout Request for you to view your payout balance online and downloadable PDF that you may print for your record.
** Please note: For our customers who have credentials to access the current GBC Online Services, the new self-directive tool, Loan Payout Request will be replacing the old service. The GBC Online will be discontinued by the end of 2023.
How can I view my loan balance online and what is required from me?
You can access the self-directed Loan Payout Request from the GBC Online webpage.
You will need to include the last name of the primary customer, primary phone number that GBC has on file, your GBC Loan# OR VIN# (Vehicle Identification Number), and the reason an inquiry is being requested.
I am trying to access my loan payout, but the information is not accurate, or I keep getting error messages.
The loan payout balance is based on the previous business day totals and may not reflect if a payment was made in the last 48 hours. If this is the case, please wait until the next business day and check the balance again; or, please proceed to contact our Customer Service Team through email email@example.com or by phone at 1.877.443.5620 for an updated balance.
If you are experiencing an error message, please refresh your browser and ensure that the primary’s last name and loan number or VIN are exactly as shown on your contract and the phone number is the most current number that is on file.
If no payment was made in the last 24 hours and you still see inaccurate information or the error message persists, please send an email to firstname.lastname@example.org with the subject: Loan Payout Request Error for us to investigate the error with our technical support and provide a resolution.
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 proceed to the new Loan Payout Request by clicking here, or alternatively, you can contact our office at 1.877.443.5620 or send us an email at email@example.com.
I have paid out my loan. Now what happens?
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.
GBC will also discharge the lien within 30 days from date of payout as per Canadian Law.
You may also request a letter of release in which General Bank of Canada confirms that the loan has been paid in full and the bank has no further interest in the vehicle. A letter may be provided once the loan has been fully closed and all funds have been cleared by the bank. You can request one by contacting us via telephone at 1.877.443.5620 or by email at firstname.lastname@example.org.
How can I update my banking information?
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 email@example.com 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.
How can I update my address or phone number?
Please call 1.877.443.5620 or email firstname.lastname@example.org 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?
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.