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Covid-19: Canadian banks close some branches, cut hours at others

Covid-19: Canadian banks close some branches, cut hours at others

Canada's six biggest banks are closing some branches and reducing operating hours at others in an effort to promote social distancing and control the spread of Covid-19.

The Canadian Bankers Association says banks will maintain critical services and that special care will be given to branches in rural communities.

The banks - Bank of Montreal, CIBC, National Bank of Canada, RBC, Scotiabank and TD - are encouraging customers to use other channels, including online and mobile banking, ATMs and phone banking.

For branches that remain open, staff levels will be adjusted, there will be extra cleaning and, where possible, social distancing measures.

TD says it "will continue to compensate our branch employees throughout the changes taking place," while RBC says employee job security will not be impacted, with many advisors able to work remotely.

Meanwhile, the Big Six have also committed to work with affected personal and small business customers on a case-by-case basis. Customers may get up to a six-month payment deferral for mortgages and relief on other credit products.

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