Case name:
Settled: Prepaid Cards Activation Fees Class Action: Peoples Trust Company issued cards, such as “Vanilla,” “Perfect Gift” or “American Express”.
Quebec Superior Court file #:
500-06-001203-229
What this case was about:
On October 25, 2022, a Quebec consumer (the “Plaintiff”) filed an Application to Authorize the Bringing of a Class Action and to Appoint the Status of Representative Plaintiff (as amended) against certain defendants including Peoples Trust Company and Peoples Card Services Limited Partnership (together, the “Defendants”), regarding the prices displayed on certain prepaid cards sold across Quebec in retail stores, gas stations and pharmacies. The Plaintiff notably alleged that the total sale price advertised by the Defendants for the prepaid cards did not include the activation fees and that the total sale price was not indicated clearly and legibly.
The Defendants deny any liability or wrongdoing and were prepared to vigorously contest the proposed Class Action, and no Court has concluded that there was any wrongdoing by the Defendants.
The Parties have reached a Settlement, a copy of which is accessible below. Class Members are encouraged to visit the Settlement Website, where they will be able to submit their online claim forms if the Settlement is approved after the hearing scheduled for March 16, 2026: www.QuebecPrepaidCardSettlement.com.
Settlement Class:
All consumers who purchased a Prepaid Card issued by Peoples Trust from anywhere in the province of Quebec from May 9, 2019, to February 11, 2026.
Terms of the Settlement:
Subject to Court approval, Peoples Trust has agreed to pay a total amount of $5,500,000.00 (the “Settlement Amount”) to settle the claims. The amount distributed to Class Members who file valid claims as approved by the Settlement Administrator (the “Approved Claimants”) is the Settlement Amount minus (a) Class Counsel fees of 30% of the Settlement Amount plus taxes, (b) disbursements, subject to Court approval and (c) the Settlement Administrator’s fees and expenses. The remaining amount after deducting these fees and expenses constitutes the “Distribution Fund”.
Each Class Member may obtain a payment in the form of an Interac E-Transfer equal to the Distribution Fund divided by the total number of Approved Claimants, between a minimum of $3.00 and a maximum of $100.00, depending on the total number of Approved Claimants. Each Approved Claimant can only get one Interac E-Transfer regardless of the number of Prepaid Cards they purchased during the Class Period, unless the Court orders a redistribution. If the total number of Approved Claimants results in Interac E-Transfers worth less than $3.00 each, no Interac E-Transfers will be made and the Distribution Fund will be paid to charities approved by the Court.
In addition to paying the Settlement Amount, Peoples Trust have voluntarily implemented business practice changes, detailed in the Settlement Agreement, regarding how they display the price of the Prepaid Cards. The price displayed for a Prepaid Card, on its packaging, will show the activation fee (before taxes) in a font size that will be equal to or greater than the Prepaid Card’s nominal value.
Please visit the Settlement Website for more information and to submit a claim if the Settlement is approved after the hearing scheduled for March 16, 2026: www.QuebecPrepaidCardSettlement.com.
Status:
On February 11, 2026, the Superior Court of Quebec authorized this class action for settlement purposes only and scheduled the settlement approval hearing for March 16, 2026, at 9:15 a.m., in room 15.02 of the Montreal Courthouse. You may attend the hearing in-person or virtually via TEAMs by clicking here. Copies of the Settlement Agreement and the Notices to Class Members are accessible below.
