Borrowing Basics
NSF Fee
Quick Definition
A charge when a payment bounces due to insufficient funds.
Full Explanation
A Non-Sufficient Funds fee is charged when a cheque or pre-authorized payment is returned because your account lacks the money to cover it. Canadian banks typically charge around $45–$50, and the lender you were paying may add its own fee. Repeated NSF events can lead to missed-payment reporting on your credit file.
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