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Question

NSF Charges

  • 1 May 2019
  • 4 replies
  • 227 views

As a prelude, yes, I've already arranged a call back and I have spoken to an agent about this but I need others experience to absolutely confirm this as it remains fairly unclear what this charge is.

I bank with RBC and I have multiple accounts where I juggle my money between to prevent accidental spending. I am just 4 months into my Koodo bills and last month I got a NSF charge because online there's nowhere I could find where it stated when the funds would be withdrawn from my account so I was unaware they came out on the 29th/end of the month and thought instead it would be on the 1st or 9th (as the billing period specified).

RBC charged me $45 NSF fee because of this. Now, I see I also got an additional $25 charge on my koodo bill for the NSF despite the fact I went ahead to pay my bill before it's due date and make sure everything got through. To be extra careful I called and asked a rep what approximate date the funds would be taken for next time to avoid this. I was quoted the 4th. So I had my funds set up for the 4th... that is until I got charged on the 29th of this month! Clearly, yes, I know now when the funds are taken out so that's not the problem.

My issue is that I have called Koodo and explained that while I understand there's a NSF charge at my bank (which I have called seperately to explain and enquire about) I would like my current NSF charge on this bill reversed (and I am aware that given this all occured only yesterday, hasn't shown up yet). I was told that I wouldn't be able to get a reversal/credit for this new NSF charge as it is from RBC and I would have to contact my bank about it.

So, as I was quoted the wrong information on a previous call (which I accept could very clearly be a misunderstanding or miscommunication between us), and I am already being charged 45$ by my bank (who I have just gotten off the phone with and thankfully are reversing that charge, but couldn't tell me the first thing about their involvement with the 25$ koodo is charging me)..... what are my options?

Is RBC charging me the 25$ through koodo? Is Koodo responsible for the 25$ charge? Who is liable in these circumstances as I did what I could to try and prevent this and I accepted my fate last time and the extra charge but now I am very annoyed. Help?

4 replies

Userlevel 4
On the last page of your PDF bill, just under the end of your call log:

Items returned unpaid for any reason, including insufficient funds, are subject to a $25.00 administration charge.
Userlevel 5
Never let anyone or any company do a PAD from your bank account unless it's mandatory. Even then, go do it with EQ Bank. They don't charge NSF fees. NSF fees are highway robbery; they incur costs only when you call them afterwards to ask about the fee.
Userlevel 7
Badge +4
This tale is one reason why I pay my bills each month through the dated payment option at my bank, rather than automated debits. As each bill arrives, I set a payment date for the amount. Since I know when, and can review payments, I can ensure no NSF situations.

It is also worth considering overdraft protection on your account if available to you.
Userlevel 7
Badge +4
If you login to self serve, and download your detailed pdf ebill, on page 1 it says that your card will be charged 15 days from your bill date.

The $45 fee is charged from your bank for non sufficient funds.
The $25 fee is a charge from Koodo because they tried to complete the transaction and it failed since your card didn't have enough funds.

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