The National Australia Bank (NAB) updated its terms and conditions to inform customers they have a new relationship that resembles that of a schoolteacher and grade school student.
The bank is implementing changes, effective November 1 2023, that indicate the grounds on which they might debank an individual from using their services.
Effectively, NAB may debank customers any time they hurt another person’s feelings.
This includes if customers are guilty of “making profane, derogatory, discriminatory or harassing comments to any person,” or inflicting “psychological harm.”
NAB could further debank an individual if they are deemed to have conducted threatening or abusive language to anyone.
“We may reasonably exercise one or more of our rights in these terms and conditions to suspend, cancel or deny an account holder’s access or use of the account, card or an electronic banking service if we reasonably consider it appropriate to protect a customer or another person from financial abuse,” the update reads.
#BoycottScotiabank trends after it de-banks military vet critical of Trudeau
In January, #BoycottScotiabank was trending on social media after the bank informed military veteran Jeremy MacKenzie it was closing his account because he was beyond its “risk appetite.”
MacKenzie received a call from a Scotiabank representative. The bank rep told him that Scotiabank’s head office determined his account would be imminently suspended.
MacKenzie wasn’t told why he was no longer welcome to use the bank beyond “risk appetite.”
“What part of it is too risky for the bank – is that my military pension?” MacKenzie asked.
“I’m afraid I don’t have any more detail. I’m just the messenger,” the bank rep said.
The Scotiabank agent further told MacKenzie he’s not allowed to visit any bank premises without permission.
MacKenzie publicly criticizes the Trudeau government and the RCMP and participated in the Freedom Convoy in Ottawa in protest of Prime Minister Justin Trudeau’s vaccine mandates.
