Yes, overdrawing your account may lead to a $12.50 charge in the following scenarios:
- Over Limit Fee: If a transaction causes your Transaction Account to be overdrawn, a $12.50 fee applies for each day it remains so, along with a default interest rate of 19.99% on the overdrawn amount.
- Direct Debit Dishonour Fee: Should a direct debit be rejected because of insufficient funds, you'll face a Dishonour Fee of $12.50.
- Cheque Deposit Dishonour Fee: If a cheque deposited into your account bounces due to insufficient funds in the drawer’s account, a $12.50 fee may be charged.
To prevent these fees, be mindful of your account balances, and don't hesitate to contact us if you have specific questions about any charges.