Just a few words, advice on student overdraft services and protection. The Canadian banks all offer this service, but be warned, it isn’t as great as they make it out to be.

You have to remember that the services all come with fees, sometimes up to 300$ if you aren’t careful Even if you close your overdraft account, you can still be responsible for overdraft fees, CIBC is notorious for this.

Other point so consider :

Don’t bail out on this overdraft and hurt your future credit! The Canadian Banks are notorious for seeking you out, years down the road. Pay off your overdraft!