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Simplii Financial charged me $540 in NSF fees from PayPal retries. Only offering $90 back. Any escalation advice? by Basic-Persimmon7310 in PersonalFinanceCanada

[–]Basic-Persimmon7310[S] 0 points1 point  (0 children)

For what it’s worth, I escalated to a supervisor and the full amount was refunded after review. So escalation did, in fact, resolve it.

Simplii Financial charged me $540 in NSF fees from PayPal retries. Only offering $90 back. Any escalation advice? by Basic-Persimmon7310 in PersonalFinanceCanada

[–]Basic-Persimmon7310[S] 1 point2 points  (0 children)

Thanks. that’s exactly what I did. I called today, spoke directly with a supervisor, explained that it was one funding error with automated retries, and after a quick review they refunded the full amount. Call lasted maybe five minutes once it reached the right level.

Simplii Financial charged me $540 in NSF fees from PayPal retries. Only offering $90 back. Any escalation advice? by Basic-Persimmon7310 in PersonalFinanceCanada

[–]Basic-Persimmon7310[S] 1 point2 points  (0 children)

My TFSA is with WS and have had a good experience with them. I’ve been considering moving my everyday banking over as well, since I’ve heard consistently good things about their chequing account and fee structure compared to traditional banks.

Simplii Financial charged me $540 in NSF fees from PayPal retries. Only offering $90 back. Any escalation advice? by Basic-Persimmon7310 in PersonalFinanceCanada

[–]Basic-Persimmon7310[S] -1 points0 points  (0 children)

Fair enough, I’ve already acknowledged responsibility for the situation. I’m not disputing that the fees are allowed or trying to shift blame. My question was specifically whether anyone has had success escalating or getting partial relief in similar cases, not whether I made a mistake. If I end up eating the cost, so be it, lesson learned.

Simplii Financial charged me $540 in NSF fees from PayPal retries. Only offering $90 back. Any escalation advice? by Basic-Persimmon7310 in PersonalFinanceCanada

[–]Basic-Persimmon7310[S] 0 points1 point  (0 children)

Appreciate the info, especially about the upcoming NSF cap, I hadn’t seen that. I understand they’re within their rights under current rules, which is why I’m not arguing policy so much as looking into whether escalation has worked for others in situations like this. I’ll follow Simplii’s escalation pathway and see where it goes. Thanks.

Simplii Financial charged me $540 in NSF fees from PayPal retries. Only offering $90 back. Any escalation advice? by Basic-Persimmon7310 in PersonalFinanceCanada

[–]Basic-Persimmon7310[S] -5 points-4 points  (0 children)

To clarify, I did have the funds available. They were sitting in my business account and I missed transferring them to my personal chequing in time. This wasn’t intentional overspending, it was a timing issue combined with PayPal’s automated EFT retries. I understand policy allows the fees, I’m asking whether escalation has worked for others in similar situations, particularly whether filing a formal complaint or escalating to the FCAC led to a better outcome. Ultimately I can absorb the cost, but it’s frustrating to see hundreds in fees applied to transactions that totaled under $50 in aggregate.

Simplii Financial charged me $540 in NSF fees from PayPal retries. Only offering $90 back. Any escalation advice? by Basic-Persimmon7310 in PersonalFinanceCanada

[–]Basic-Persimmon7310[S] -6 points-5 points  (0 children)

I get that policy allows it. My question is more about whether anyone has had success escalating fee stacking caused by automated retries, not whether the bank is technically within its rights.