Nunatsiaq News
NEWS: Nunavut July 03, 2018 - 8:20 am

Government of Nunavut puts limits on certain cheque cashing fees

New Consumer Protection Regulations in effect since April 1

NUNATSIAQ NEWS
Joe Savikataaq tabled Bill 25, An Act to Amend the Consumer Protection Act, in 2017 as then minister of community and government services. The bill passed last year, allowing the GN to place limits on the fees retailers charge to cash certain government-issued cheques. (FILE PHOTO)
Joe Savikataaq tabled Bill 25, An Act to Amend the Consumer Protection Act, in 2017 as then minister of community and government services. The bill passed last year, allowing the GN to place limits on the fees retailers charge to cash certain government-issued cheques. (FILE PHOTO)

With limited banking services available throughout the territory, many Nunavummiut rely on local stores to cash their cheques.

But the Government of Nunavut has now set limits to fees that retailers can charge—at least for cashing cheques cut by government agencies across the territory.

The GN amended its Consumer Protection Regulations as of April 1, 2018, which now set limits on how much local retailers can charge when cashing certain government-issued cheques, the Department of Community and Government Services said in a June 28 release.

That includes cheques issued by hamlet officers, district education authorities, housing authorities, the Nunavut Housing Corp. and Qulliq Energy Corp.

Now those fees can be no more than $3 for cheques of $1,000 or less. The fees on all other cheques can be no more than two per cent of its overall value.

Retailers should not charge any fee to cash GN or Government of Canada-issued cheques.

The changes were made last year by Nunavut’s previous legislative assembly, which passed Bill 25 in 2017.

For more information, Nunavummiut can contact the GN’s Consumer Affairs division toll-free at 1-866-223-8139 or by email to consumerprotection@gov.nu.ca.

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(8) Comments:

#1. Posted by concern on July 03, 2018

in Clyde River that is still useless for people on income support, they are not allowed to cash their checks their only choice is to deposit on WE cards own by northwest company, they charging fees $1.99 every time they use the card and $2 for checking the balance

#2. Posted by Andrea on July 03, 2018

This isn’t the most helpful solution. But some banks such as CIBC now allow you to cash your check with their app. That would cut out the need for a middleman.
Saying this with all respect that it doesn’t ‘fix’ anything just a potential option for some people.

#3. Posted by Super Helpful on July 03, 2018

Andrea, this is super helpful for many people in smaller communities with no access to banking or internet.  There are many out there!!

#4. Posted by boris pasternak on July 03, 2018

either way coops and nwc are laughing all the way to the banks. boy we are dooped, for the last 100 yrs.

#5. Posted by IQ ME on July 03, 2018

My guess is that you can’t force business to accept cheques. So the GN may have to have cheque cashing facilities in every community. Which is not a bad idea to have a small saving/chequing kiosk in every community.

#6. Posted by eskimo joe on July 04, 2018

#5, spoken like a true nwc staff…u guys are greedy, damn the children, let them go hungry.

#7. Posted by Kugluktuk resident on July 05, 2018

Yesterday my daughter summer student cashed a GN cheque at the co-op and paid a $18. dollar fee - sad.

#8. Posted by boris pasternak on July 06, 2018

just imagine you’re cashing a check of any kind in Arviat hurts. the four retailers are experts of gouging $$$ in this community. they are thirsty as a man stranded in deserted island who wants water. once a month, the stores in this community open at 7 AM going after FA benefits, sick…they are shameless as the whs on 7th ave as per simon and garfunkel.

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