The Claims Period is now open. Claimants have until July 27, 2028 to submit a Claim for compensation.
How to get your compensation payment
If your Claim is approved under the Federal Indian Hospitals Settlement, you may receive a compensation payment.
Payments are made after the Claims Administrator completes the review of your Claim and confirms that compensation will be paid. Learn more about the Claims Process.
This page explains how you will receive your compensation payment.
If your Claim is approved, compensation may be sent to you in one of the following ways:
If you chose direct deposit in Part 3 of your Claim Form and shared your banking details, the payment will be sent directly to your bank account.
If you did not choose direct deposit, a cheque will be mailed to the address you provided on your Claim Form. Ensure your mailing address is up to date.
If you do not have a bank account
If you receive a cheque and do not have a bank account, you may still be able to cash it at:
- A bank
- A credit union
- A cheque-cashing service
Some banks may allow you to open an account so your payment can be deposited.
You may wish to speak with a bank or credit union representative about options available to you.
Opening a bank account
If you choose to open a bank account, many banks offer basic accounts with low or no monthly fees.
A bank or credit union may ask for identification when opening an account.
You may wish to ask about:
- Monthly fees
- Limits on withdrawals or transactions
- Whether direct deposit is available
Taking time to understand these details can help you decide what works best for you.
Taking time before making financial decisions
Receiving compensation can be an important moment. It’s a good idea to take time before making large financial decisions.
You may wish to speak with someone you trust, such as:
- A family member
- A trusted community member or Elder
- A financial advisor
- A lawyer
It’s your compensation and your choice.
Banking and savings options
Some people choose to place their compensation in a bank account or savings account.
Banks and credit unions offer different types of accounts. A staff member at a bank or credit union can explain these options if you would like more information.
You may wish to take time to understand the choices before opening an account.
Types of bank accounts
Banks and credit unions often offer chequing and savings accounts.
Chequing accounts
Chequing accounts
A chequing account is usually used for day-to-day spending.
People often use this account to:
- Deposit money
- Withdraw cash
- Pay bills
- Use a debit card
- Send or receive electronic money transfers
Some chequing accounts have monthly fees, while others may offer low- or no-fee options.
You may wish to ask about:
- Monthly account fees
- Limits on withdrawals
- Debit card access
- Online or phone banking
Savings accounts
A savings account is used to set money aside and keep it safe.
People often use savings accounts to:
- Save money for the future
- Keep emergency funds
- Keep money separate from everyday spending
Savings accounts may earn interest, which means the bank pays a small amount of money for keeping funds in the account.
Some savings accounts may limit how often money can be withdrawn.
Other savings options
Some financial institutions offer additional ways to save money, including:
High-interest savings accounts
These accounts may offer a higher interest rate than basic savings accounts.
Guaranteed Investment Certificates (GICs)
These accounts hold money for a set period of time, such as one to five years. The bank pays interest during that time.
Money placed in these accounts may not be available for withdrawal until the term ends.
If you are considering these options, you may wish to ask the bank or credit union to explain how they work.
Financial institutions and services
The links below lead to trusted external resources, including some created specifically for Indigenous Peoples, to help you understand and manage your banking and financial habits.
Indigenous-focused financial services
There are also many credit unions and regional financial institutions across Canada.
Credit unions are member-owned financial institutions and may serve specific regions or communities.
You may choose the financial institution that feels right for you.
Cheque-cashing services
Some stores offer cheque-cashing services. These businesses may charge large fees to cash a cheque.
Sometimes the fee may be a percentage of the cheque amount. For large cheques, this can mean losing a significant amount of money.
Some people choose to deposit their cheque into a bank account instead, where fees may be lower or not charged. You may wish to ask questions about fees before using a cheque-cashing service.
