Non-sufficient funds fee will be limited to $10 in Canada starting next year

Banks will also be prohibited from charging NSF fees more than once within a period of two business days and in cases where the overdraft is less than $10.

To avoid bank account holders accidentally incurring an NSF charge, banks will also have to send an alert giving account holders at least three-hours' notice that a payment exceeds their bank balance. If the account holder deposits money to cover the payment within that period, banks cannot charge the fee.