AFSC will begin phasing out paper cheques in 2026 and moving to direct deposit. This change will help us work more efficiently while making payments to clients faster and more secure.
Paper cheques sent through the mail can be delayed by high mail volumes, weather conditions, or labour disruptions. They can also be intercepted or stolen through mailbox tampering. According to a 2025 report by the Association for Financial Professionals, cheques remain the most vulnerable payment method to fraud, accounting for 63 per cent of reported incidents.
Direct deposit is:
- Faster – Funds are deposited directly into the client’s bank account.
- Safer and more secure – There is no risk of cheques being lost, stolen, or altered.
- Cost‑efficient – Reduces mailing and processing costs.
- Timely – Clients receive an email notification when payments are on the way.
AFSC protects clients’ banking information using industry‑standard security practices. All client details are encrypted and handled with strict confidentiality.
Clients can sign up for direct deposit now to ensure payments continue without interruption. To learn more, please see our Direct deposit page. Please note, you must have an AFSC Connect account before you can sign up for direct deposit. Please see our step-by-step Create an AFSC Connect account
Need help? Please contact your preferred branch office, contact AFSC through Live Chat on our website or AFSC Connect, or call our Client Care Centre at 1.877.899.2372.
