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At RBC, we are obliged to keep your
personal information confidential except under the following
special circumstances:
When Authorized by You
Credit agencies and other financial institutions routinely contact us for credit and financial information about clients. To comply with these requests, we require our client's consent. We usually obtain this permission in a Client Agreement, which a client signs when acquiring a specific product or service.
Client Agreement
A Client Agreement outlines the terms and conditions associated with acquiring
specific products or services from RBC.
In general, it establishes the rights and obligations of both parties
as they relate to the provision of that product or service.
With respect to the matter of privacy, the Client Agreement authorizes us:
- To collect credit and related financial information (including information related to transactions) from you, from RBC businesses, affiliates and subsidiaries, from credit agencies, from other financial institutions, and from references provided by you.
- To use personal or business information to determine your financial situation, to provide the services you have requested, to share with other RBC businesses, affiliates and subsidiaries, and to offer additional products and services that might benefit you.
- To share your information with credit agencies and other financial institutions.
- To use your Social Insurance Number for tax reporting and for credit agencies matching purposes only.
In some cases, such as when you apply for an insurance product over the telephone, your consent to the use and/or disclosure of your information will be obtained verbally. In other cases such as when you apply for a product over the Internet, your consent will be obtained electronically.
When Required by Law
RBC will respond, as required by law, to any valid requests for information from domestic or international authorities.
The type of information we are legally required to disclose most often relates to government tax reporting requirements.
In some instances such as a legal proceeding or court order, we may also be required to disclose certain information to authorities. Only the information specifically requested is disclosed and we take precautions to satisfy ourselves that the authorities who are making the request have legitimate grounds to do so.
When Permitted by Law
There are some situations where we are legally permitted to disclose personal information such as returning a cheque due to insufficient funds, employing reasonable and legal methods to collect a delinquent account, a medical emergency or suspicion of illegal activities.
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