In his final days in office, former Prime Minister Justin Trudeau's government made good on its promise to limit the ability of Canadian banks to charge hefty fees when somebody doesn't have enough in their account to cover a payment.
“A cap of $10 was chosen to balance the need to protect consumers from high fees with the need to maintain the integrity of the payments system by incentivizing consumers to honour their payments,” the department wrote.
Don’t worry, they usually do, they just give you privilege of paying anyways.
Having worked in banking I can tell you it’s a fee that is charged purely to punish people with limited cashflow. EQ bank is the only one I know of that doesn’t have them.
Nonsense, just cancel the transaction then.
Don’t worry, they usually do, they just give you privilege of paying anyways.
Having worked in banking I can tell you it’s a fee that is charged purely to punish people with limited cashflow. EQ bank is the only one I know of that doesn’t have them.