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The best GIC rates in Canada for 2025 + MORE Dec 2nd
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Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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At last, interest rates are coming down again. For Canadians who are in the market for a new home, facing renewal of their mortgage in the foreseeable future, or feeling unsatisfied with their current home loan, this poses two choices: do you pounce now, or stay on the sidelines in the hope that rat.... More »
The best GIC rates in Canada for 2024 + MORE Jul 9th
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The best GIC rates in Canada
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
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NSF Fees: How They Work and Ways You Can Avoid Them
– canadianfinanceblog.com
Let’s face it; no one likes getting charged bank fees. It’s one of the main reasons online banks have surged in popularity in recent years. But even online banks charge NSF fees. If you’re unfamiliar, here’s how NSF fees work and how you can avoid them.
What Is an NSF Fee?
A non-sufficient fund, or NSF fee, is charged by your financial institution when you don’t have enough funds to cover a cheque or pre-authorized debit on your bank account. This is known as a bounced cheque or bounced payment. Banks charge NSF fees on a per-item basis – so at $45 each, multiple NSFs can prove to be costly.
Why Are NSF Fees Charged?
NSF fees serve a couple of purposes. First, they cover the administrative costs incurred by the bank to return the non-sufficient funds item. Also, NSF fees act as a disincentive for customers to leave their accounts with insufficient funds. The good news is that there are ways to avoid NSF fees, which I’ll cover a bit later.
NSF Fee Examples
NSF fees aren’t that complicated, but here are a couple of examples to clarify any confusion…
What Is an NSF Fee?
A non-sufficient fund, or NSF fee, is charged by your financial institution when you don’t have enough funds to cover a cheque or pre-authorized debit on your bank account. This is known as a bounced cheque or bounced payment. Banks charge NSF fees on a per-item basis – so at $45 each, multiple NSFs can prove to be costly.
Why Are NSF Fees Charged?
NSF fees serve a couple of purposes. First, they cover the administrative costs incurred by the bank to return the non-sufficient funds item. Also, NSF fees act as a disincentive for customers to leave their accounts with insufficient funds. The good news is that there are ways to avoid NSF fees, which I’ll cover a bit later.
NSF Fee Examples
NSF fees aren’t that complicated, but here are a couple of examples to clarify any confusion…
