Financial Literacy for Newcomers

Financial Literacy for Newcomers

Newcomers to the province have to make many complex decisions facing cultural, linguistic and other accessibility barriers as they try to access financial information, products and services. 

Here are some tips to help newcomers navigate Saskatchewan’s marketplace.
 

• Your credit report
• Purchasing a vehicle
• Returns and Exchanges
• Gift Cards
• Door to Door sellers

Your Credit Report

Visit the credit report webapge to learn about viewing your credit report, fixing inaccurate information and counselling and repayment services.

Purchasing a vehicle

Buying privately
If you buy a vehicle from a private seller, you have limited protections under the law.

Here are some steps you can take to protect yourself in a private deal:

1. Make sure there are no existing debt on the car. Contact Information Services Corporation toll free at 1-866-275-4721 or by email at ask@isc.ca for a lien (debt) search through the Saskatchewan Personal Property Registry (SPPR). There is a nominal fee for the service. If there is a lien against the car, it may be seized to pay off the previous owner's debt.
2. Check to see if the vehicle is registered in Saskatchewan. A SGI VIN search is free and looks up the status of the vehicle, the registration expiry date, damage history and whether Saskatchewan PST is payable.
3. Take the car for a test drive to see how it performs.
4. Take the vehicle to a trusted mechanic to have it checked for mechanical and safety problems.

Licensed vehicle dealers
If you’re buying a vehicle from a dealer licensed with FCAA, they have to follow specific rules.

• Rules that vehicle dealers must follow
• Check to see if a dealer is licensed

Visit the purchasing and repairing a vehcile webpage for more information about buying a vehicle in Saskatchewan.
 

Return and Exchanges

Many retailers have a return/exchange policy. Saskatchewan retailers are NOT required by law to have one, but many offer the service. Retailers can set the terms and limitations of a return policy, but if a policy is brought to the consumer’s attention at or before the time of purchase, retailers are obliged to honour it.

If a return/exchange notice is not posted anywhere, ask the retailer if there is a policy. Retailers can write the policy on your receipt and sign and date it at the time of purchase if it is not publicly posted. Do not forget to keep the receipt as proof of purchase.
 
If you are having problems with returning a purchase and you cannot resolve it with the retailer, contact the FCAA at consumerprotection@gov.sk.ca for more information or to file a formal complaint.

Vist the returns and exchanges webpage for more information.
 

Gift Cards

Gift cards, also called “pre-paid purchase cards” can be used to buy items or services from a specific store or related business.

No expiry
Gift cards bought and sold in Saskatchewan cannot legally expire. If a business sells gift cards, they cannot put expiry dates on them and the balance cannot expire. The only exception to this rule is for charitable purposes or nothing of value was provided to obtain the card). An expiry date is allowed for pre-paid purchase cards that are issued for charitable purposes, or nothing of value was provided to obtain the card.
 

Retailer goes out of business
Use your gift cards promptly. If a retailer goes out of business, it is unlikely you can reclaim the value on your card.

Visit the gift card webpage for more information.

Door to Door Sellers

In Saskatchewan most people who come to your door trying to sell something need to have a direct sellers license. You should ask to see their license or visit FCAA411 to check their license status.

If the person says they do not need a license, you can call FCAA at 1-877-880-5550 to see if they should be licensed or visit the door-to-door sellers requirements webpage.

Sometimes a sales pitch sounds too good to be true. Take time to think things through and do not be pressured to act quickly.

If you decide to purchase something, make sure you:

• Get a contract in writing.
• Understand the cancellation rights. You can cancel a contract without a reason within the first 10 days of signing it.
• Keep a copy of the contract.
• If there is a down-payment required, be comfortable with the amount.

Viist our door-to-door seller webpage to learn about complaints, cancellation rights and downpayments.