1d ago

Ottawa caps non-sufficient funds fees at $10 starting March 2026

halifax.citynews.ca Ottawa caps non-sufficient funds fees at $10 starting March 2026

OTTAWA — Ottawa has put in place new rules limiting the fees banks can levy on customers who don’t have enough in their accounts to cover a cheque or other pre-authorized charges. The updates, included in an order-in-council last week, cap non-sufficient funds fees at $10 for personal deposit accoun...

6 comments

Why does this take a year to come into effect? Why not April 2025?

Good, dumbest thing ever. U poor, I'll give you something to be poorer about
- The $50 fee was ridiculous. $10 is still dumb but way more manageable.
  
  A proposed rule to require a warning to customers about a potential charge and to give a grace period to fix the problem appears to have been dropped, as was a requirement that banks disclose statistics on the fees such as total revenue and total number of NSF fees charged.
  This part's definitely bullshit.

Amazing news, March 2026 can't come soon enough even though it's not a problem for me because it only happened to me on accidents, it still sucks having to pay 40$ in fees. 10$ will be more digestible

Deny money changers profit

6 comments