Government of Nunavut puts limits on certain cheque cashing fees
New Consumer Protection Regulations in effect since April 1
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 email@example.com.