To change banking information on an existing PAC arrangement for life, long term care, and critical illness insurance and accumulation annuity policies, please use the Request centre form PAC - banking information - change.
If the client has multiple PAC arrangements, complete a separate request for each.
Note: PAC withdrawals must be set up on Canadian bank accounts only. The following accounts cannot be used:
- a line of credit account
- a US bank account
- credit card account
The following changes to banking information can be done by phone:
- new bank account
- change to another branch
- change to another bank
You can reach us by calling our Customer Service Centre at 1-877-786-5433.
When changing PAC banking information keep in mind:
- a minimum of 5 business days notice is required to process the change by the next withdrawal date.
- if the PAC was processed before the banking information was changed and the PAC is returned, another withdrawal using the new banking information will be processed automatically.
if a returned payment fee is owing, the PAC payor cannot be changed until the fee is paid. Refer to PAC payor changes.