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| Home » Banking in Canada » Walmart Canada Bank | ||||||||||||||||||||||||
Walmart Canada Bank |
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Walmart Canada launched its application for banking license in 2008 to compete with similar stores in Canada such as Loblaw. On July 24, 2009, Walmart Canada Bank was incorporated under the Bank Act in Canada. |
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On June 15, 2010, Walmart officially launched into the banking sector under the name Walmart Canada Bank (French: La Banque Walmart du Canada). As a Schedule II federal financial institution, it is regulated by the Office of the Superintendent of Financial Institutions. Currently, WMCB only offers a Mastercard product but could offer more banking services in the future. The Bank has a solid market position and a well-recognised business franchise in USA as well as Canada. Walmart Canada Bank is a member of the Canadian Bankers Association (CBA) and registered member with the Canada Deposit Insurance Corporation (CDIC), a federal agency insuring deposits at all of Canada's chartered banks. |
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Walmart Canada Bank is now offering the MasterCard®SecureCode™ service. MasterCard SecureCode puts you in control when shopping online: only you can approve purchases using your private SecureCode. |
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