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What happens if I write a cheque and there is not enough money to cover it?
Non-sufficient funds and overdraft protection
If you write a cheque that overdraws your deposit account, TD Canada Trust is not obligated to pay it. The cheque is then returned, non-sufficient funds (NSF), to the person or company who tried to cash it via their financial institution.
In this situation, the fee we would charge for an NSF cheque is $48.00 (labeled NSF Fee on your statement). The payee may also charge you a fee for this.
Enjoy peace of mind with one of these convenient Overdraft Protection options:
- Overdraft Protection ($4.00 per month).
- Pay As You Go Overdraft Protection ($5 per overdraft transaction to a maximum $5 per day).
Please note: Interest for either form of Overdraft Protection is 21% per annum. Fees subject to change.
Please note that the answers to the questions are for information purposes only for the products discussed. Individual circumstances may vary. In case of discrepancy, the documentation prevails.