If you are a member of Coast Capital Savings Credit Union (“Coast Capital”) and you withdrew funds from an ATM outside of Canada from August 28, 2007 to August 31, 2015,
your rights are affected by a class action
There is a class action in BC against Coast Capital about ATM withdrawals outside of Canada occurring between August 28, 2007 and August 31, 2015 (the “Class Action”). The Class Action alleges that Coast Capital contravened s. 4 of the Business Practices and Consumer Protection Act and is in breach of contract, in relation to its agreements with its account holders, for failing to disclose foreign exchange conversion surcharges for withdrawing foreign currency from ATMs located outside of Canada. Coast Capital denies all of the allegations.
This Class Action is continuing, the allegations have not been proven. If you do nothing, your legal rights will be affected.
You are a “class member” if you have a personal account with Coast Capital and you withdrew foreign currency from your personal account from an ATM located outside of Canada from August 28, 2007 to August 31, 2015.
What Can You Get?
There are no funds to pay to class members at this time. If you do nothing and the Class Action succeeds, you may be able to make a claim on any money that results from the Class Action.
What Happens If I Do Nothing?
You become a class member and you cannot sue Coast Capital for these claims separately. You will be bound by the result in the class action, whether it is successful or unsuccessful. If the claim succeeds, you can make a claim from any funds recovered.
What If I Don’t Like the Class Action or I Don’t Want to be Included?
You can opt out. If you do not want to participate in the Class Action, you must opt out. If you opt out you will not be able to make a claim on any money that results from the class action. Unless you opt out, you cannot be part of any other lawsuit against Coast Capital in the future about surcharges on foreign ATM withdrawals between August 28, 2007 and August 31, 2015. The opt out deadline is April 5, 2020 and to opt out, you must contact class counsel to notify them before the deadline.
What happens next?
This Class Action is not over. The next step is a trial where the Court will decide whether the allegations are true, and whether the class members should get any compensation.
If the Class Action succeeds: (a) the Court will decide what steps, if any, are required to make or prove your individual claim; (b) the Court will appoint someone (the Claims Administrator) who can help you make a claim; (c) you will receive notice explaining how you can make a claim; and (d) class counsel will seek court approval of legal fees calculated as 30% on the first $1,000,000 collected and 25% of any amount in excess of $1,000,000 collected, plus expenses incurred in pursuing the Class Action. Contact the lawyers below to make sure you are on the mailing list for future notices.
You should keep any records you have, such as account statements or withdrawal receipts, for ATM withdrawals outside of Canada.
Get more information by:
Visiting the website or contacting the lawyers at the information below:
DO NOT CONTACT THE COURT