Footnote 4 here is still in my buffer so...


What you should find interesting is at the end of the Bank of Canada Act, protecting your perfect right to restricted endorsement (non-endorsement). It is natural to deal in lawful money so a special reason must be provided for the Bank of Canada to dishonor your claim and demand!

Now to your question:

Is using the word 'credit' giving credence to their credit system, and showing me to be of 2 minds???? Thought I'd better ask that...
I think you have a point. That verbiage is very oblique and I feel suitors (and I) have outgrown it. However it may still need application in Canada because we resort to §16 of the Fed Act and Title 12 USC §411 here.


Exchanged for an equal amount of credit, or Non-negotiable Bank of Canada Notes at par value only.
What do you think of:

Special deposit only, or Non-negotiable Bank of Canada Notes at par value only.