What is the NSF fee charged by Cool Binz if there are insufficient funds for a debit?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
maximum rate permitted by applicable law, whichever is greater, from the date these amounts were originally due until the date paid ("Interest Fee"). If we debit your account for monies owed and there are insufficient funds available, we will also charge our current non-sufficient fund fee ("NSF Fee"). We can automatically debit your account for the Late Payment Fee, NSF Fee, Late Report Fee, Interest Fees and all other fees owed to us.
You acknowledge that this paragraph does not constitute our agreement to accept any payments after they are due or our commitment to extend credit to, or otherwise finance the operation of the COOL BINZ Business. Notwithstanding the provisions of this Section, your failure to pay all amounts when due constitutes grounds for termination of this Agreement, as provided in Section 12.B. of this Agreement.
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, if Cool Binz debits a franchisee's account for monies owed and there are insufficient funds available, Cool Binz will charge its current non-sufficient fund fee ("NSF Fee").
Cool Binz can automatically debit a franchisee's account for the Late Payment Fee, NSF Fee, Late Report Fee, Interest Fees, and all other fees owed to them.
It is important to note that failure to pay all amounts when due constitutes grounds for termination of the Franchise Agreement.