Having had a bank account in Europe for nearly 20 years, I never paid a dime for not having enough money in the account. The transaction just fails.
I'm so confused.
this post was submitted on 19 Mar 2025
2 points (100.0% liked)
Canada
9385 readers
1180 users here now
What's going on Canada?
Related Communities
🍁 Meta
🗺️ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
🏙️ Cities / Local Communities
- Calgary (AB)
- Comox Valley (BC)
- Edmonton (AB)
- Greater Sudbury (ON)
- Guelph (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Windsor (ON)
- Winnipeg (MB)
Sorted alphabetically by city name.
🏒 Sports
Hockey
- Main: c/Hockey
- Calgary Flames
- Edmonton Oilers
- Montréal Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL): incomplete
Football (CFL): incomplete
Baseball
Basketball
Soccer
- Main: /c/CanadaSoccer
- Toronto FC
💻 Schools / Universities
- BC | UBC (U of British Columbia)
- BC | SFU (Simon Fraser U)
- BC | VIU (Vancouver Island U)
- BC | TWU (Trinity Western U)
- ON | UofT (U of Toronto)
- ON | UWO (U of Western Ontario)
- ON | UWaterloo (U of Waterloo)
- ON | UofG (U of Guelph)
- ON | OTU (Ontario Tech U)
- QC | McGill (McGill U)
Sorted by province, then by total full-time enrolment.
💵 Finance, Shopping, Sales
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
🗣️ Politics
- General:
- Federal Parties (alphabetical):
- By Province (alphabetical):
🍁 Social / Culture
- Ask a Canadian
- Bières Québec
- Canada Francais
- First Nations
- First Nations Languages
- Indigenous
- Inuit
- Logiciels libres au Québec
Rules
- Keep the original title when submitting an article. You can put your own commentary in the body of the post or in the comment section.
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage: lemmy.ca
founded 4 years ago
MODERATORS
This is huge. It seems criminal for banks to charge you up to $50 when you may not even have that in your account.
34% of Canadians getting slapped with one of these fees in 2023 is bonkers. That's like $50 million in fees taken from the people who are least able to afford it.
That's amazing! I remember being broke and being hit by NSF. It was downright devastating. $40 or $50 is a lot when you have no money.
Can anyone explain what risk or labour is involved in an NSF incident and how that's even worth $10?
It’s 100% automatic and electronically based. The marginal cost of processing any NSF is quite literally $0. Even at $10, it’s 100% profit to the banks.
Unsure if it has changed but in 2018 I was approving and declining transactions manually before 9:30AM that would go through accounts with insufficient funds. Any transaction I didn't have time to go through before the 9:30 cut off would auto NSF
Back in 2006-2008 my wife and I were in a tight spot, we were hit with NSF fees within seconds of going into the red. And this was at two of the big six, not some teeny-tiny regional credit union that still did a lot of things by hand back then.
So I don’t know where you worked, but I can ABSOULTELY GUARANTEE that none of the big six were wasting time and money having a salty bag of mostly water actually processing NSF determinations. Maybe you were rolling back fees on review, but not applying them.
Source: wife actually works at one of the big six, and even when she started working in the 90s, NSF fees were 100% automated.
Should have gone the Québec route and removed NSF charges.
Quebec is often ahead of Canada as they also have election spending capped at $100 per year.
Non-sufficient ? Do you mean insufficient ?
I don't mean anything, as I didn't write the headline.