Institution profile · Domestic bank (Schedule I)
Peoples Bank and Peoples Trust
ActivePeoples Bank of Canada; Peoples Trust CompanyCDIC
Peoples Trust Company and its Schedule I subsidiary Peoples Bank of Canada form Peoples Group in Vancouver. Peoples Trust is the partner institution fintech KOHO names for holding customer funds.
Profile facts checked October 30, 2026
Mitey files the Peoples Bank and Peoples Trust index card: best posted savings rate 1.2%.
What is Peoples Bank and Peoples Trust?
Peoples Bank and Peoples Trust is domestic bank, owned by Peoples Group (Peoples Bank is owned by Peoples Trust Company), regulated by OSFI at the federal level. Eligible deposits are CDIC-insured to $100,000 per category. It doesn’t list personal accounts in FCAC’s Account Comparison Tool, so this page covers its official status, deposit protection, ownership and dated facts.
At a glance
- Legal name
- Peoples Bank of Canada; Peoples Trust Company
- Type
- Domestic bank (Schedule I)
- Owner / parent
- Peoples Group (Peoples Bank is owned by Peoples Trust Company)
- Head office
- Vancouver, BC
- Founded
- 1985 — Peoples Group lists 1985 as its founding year.
- Regulator
- Office of the Superintendent of Financial Institutions (OSFI) for safety and soundness; Financial Consumer Agency of Canada (FCAC) for consumer protection
- Best posted savings rate
- 1.2% on $10,000 (e-Savings Account)
- OBSI banking cases
- 7 opened in fiscal 2025 (Nov 1, 2024 – Oct 31, 2025)
- Website
- www.peoplesgroup.com
Is my money safe at Peoples Bank and Peoples Trust?
Peoples Bank of Canada and Peoples Trust Company are each separate CDIC members.
Worked example — a household with four deposits at two CDIC members
| Deposit | Amount | Protected | Not protected |
|---|---|---|---|
| Member A: Own name | $130,000 | $100,000 | $30,000 |
| Member A: TFSA | $45,000 | $45,000 | $0 |
| Member A: Joint (You + partner) | $80,000 | $80,000 | $0 |
| Member B: Own name | $60,000 | $60,000 | $0 |
Total $315,000; protected $285,000; not protected $30,000. Try your own deposits in the deposit safety tool.
What do Peoples Bank and Peoples Trust’s chequing accounts cost?
Peoples Bank and Peoples Trust lists 1 chequing account with FCAC. For our “Everyday” example (25 debit purchases, 6 bills, 5 e-Transfers and a $1,000 low balance a month), none of its open accounts can serve that profile. Accounts limited to a group are marked.
| Account | Monthly fee and waiver | Included | Fees a year |
|---|---|---|---|
| Peoples EasyTransaction Account (Pay-as-you-go Package) | No monthly fee | None included (each one is charged) | n/a |
What savings rates does Peoples Bank and Peoples Trust pay?
| Account | Rate at $10,000 | Monthly fee |
|---|---|---|
| e-Savings Account | 1.2% | No monthly fee |
Is Peoples Bank and Peoples Trust on the official lists?
| Legal entity | OSFI list | CDIC member |
|---|---|---|
| Peoples Bank of Canada | OSFI — Schedule I domestic bank | Yes |
| Peoples Trust Company | OSFI — trust company | Yes |
What else should you know about Peoples Bank and Peoples Trust?
- Peoples Bank of Canada and Peoples Trust Company operate as separate regulated entities under the Peoples Group banner.Source: peoplesgroup.com
- In July 2019 Peoples Group announced approval to incorporate Peoples Bank of Canada as a Schedule I bank owned by Peoples Trust Company.Source: peoplesgroup.com
- Named by KOHO as the institution that holds its customers’ funds.Source: koho.ca
Your own pattern can change the order. Put your numbers into the true-cost finder to rank Peoples Bank and Peoples Trust’s accounts against everyone else’s.
How many Peoples Bank and Peoples Trust complaints reached the ombudsman?
OBSI, the ombudsman for banking, opened 7 banking cases about Peoples Bank of Canada in fiscal 2025 (Nov 1, 2024 – Oct 31, 2025), closed 3, and resolved 2 to the complainant’s satisfaction. Across all banks and credit unions, OBSI opened 5,438 banking cases that year (+113% on the year before) and 25% of closed cases ended with money paid.
Counts aren’t adjusted for size, so bigger banks have more cases. A complaint reaches OBSI only after the bank’s own process (up to 56 days). Source: OBSI Annual Report 2025, released March 13, 2026. How to complain.
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