The consumer protection law in BC speaks to how much can be charged for cashing specific types of government cheques. This fee cap applies to any business who cashes these cheques, including payday lenders.
These laws only apply to BC Employment and Assistance cheques issued by the Ministry of Social Development and Poverty Reduction. The Ministry only issues two kinds of cheques. The two cheques we’re talking about will indicate (on the face of the cheque) either:
“BC Employment and Assistance” or
“BC Employment and Assistance Imprest Account”
The most that can be charged to cash these cheques is either $2.00 plus 1% of the cheque amount or $10 – whichever is less. This means it should never cost more than $10 to cash these cheques.
This is information from the BC Government, for informational purposes only:
The Ministry of Social Development and Poverty Reduction issues two kinds of BC Employment and Assistance cheques. The face of the cheque will indicate “BC Employment and Assistance” or “BC Employment and Assistance Imprest Account”.
BC Employment and Assistance cheques include 2 electronic signatories rotated monthly issued on blue, green, or pink cheque stock.
BC Employment and Assistance Imprest Account cheques include 2 signatories which can vary from cheque to cheque. The cheque will contain a 3-digit numeric code on its face (e.g., “123”) not alpha (e.g., “ABC”). There are some cheques issued under BC Employment and Assistance with alpha code on them. These are valid cheques; however, the fee cap doesn’t apply to them.
If you have a specific reason to be concerned about the validity of a BC Employment & Assistance or Imprest Account cheque, call 1.877.815.2363 (Option Zero).
