NSF Fee on Declined/Rejected Credit Card Payment?

NSF Fees

These fees are very annoying, hitting you at your worst. Typically, a bank would charge the person trying to cash a cheque on an account that didn't have enough funds for the payment. Since the bank would charge the company trying to claim payment, the company would often forward the fee to the cheque-writing customer.
This makes some sense, the company is out ~$30 to their bank, and they need to recoup that expense.

NSF Fees for Credit Card Payments?

Now, this is mind-boggling. The cost of trying to process a credit card transaction is measured in cents. A declined payment costs just cents.

This is what happened to me, I lost my credit card, and therefore the auto-billing for my Yak Internet service didn't go through. Fine, I get the email saying to log-in and correct it, and I did, as well as making a one-time payment to bring it back to normal. But they charged me a $35 NSF Fee.

Seriously? I switched to Yak away from the Bells and Rogers of the world to get away from this garbage, and now they similar money-grubbing activities of charging me $35 for something that cost them a couple cents.

I was able to get them to waive the fee with a quick email, but this shouldn't have been necessary. A declined credit card payment does not cost them even 1% of $35 (though it would cost about that much for a declined cheque). Just a cash-grab. So much for their motto of "No sneaky contracts".

Yak needs to tread carefully, this fee may even be in violation of Section 247 of the Criminal Code.

Yak so slimy...

bmo prepaid credit card

I need to build a website. I called intuit business and they only accept credit cards. Will the bmo prepaid card work? does anyone know? I just finished reading some horror stories with the cibc card not working with online purchases. thanks

Yes, the BMO Prepaid Card

Yes, the BMO Prepaid Card should work. There are no guarantees, but people seem quite happy with the card.

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