What NSF fee does Itan charge for insufficient funds?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
r Account for amounts owed. You must deposit all Gross Sales into the Account and ensure sufficient funds are available for withdrawal before each payment due date. If there are insufficient funds in your Account, any excess amounts you owe will be payable upon demand, together with any late fee imposed pursuant to §13.4. We may also impose a $100 NSF fee for each instance where either: (a) there are insufficient funds in your Account to cover amounts owed when due; or (b) a check you issue to us is returned due to insufficient funds.
- 13.6. CPI Adjustments. We may periodically adjust all fees (including minimum fees) expressed as a fixed dollar amount based on changes to the U.S. Consumer Price Index (CPI). We may periodically review and increase these fees based on CPI changes, but only if the then-current CPI ("Current CPI") is more than 5% higher than the corresponding CPI in effect on: (a) the Effective Date of this Agreement (for the initial fee adjus
Source: Item 23 — RECEIPT (FDD pages 44–190)
What This Means (2025 FDD)
According to Itan's 2025 Franchise Disclosure Document, if a franchisee has insufficient funds in their account to cover the amounts owed, or if a check is returned due to insufficient funds, Itan may impose a $100 NSF fee for each instance.
It is important for prospective Itan franchisees to understand that maintaining sufficient funds in their designated account is crucial to avoid incurring these NSF fees. The franchisee is responsible for ensuring that all Gross Sales are deposited into the account and that enough funds are available before each payment due date.
Additionally, Itan retains the right to periodically adjust all fees, including the NSF fee, based on changes to the U.S. Consumer Price Index (CPI). This means that the $100 NSF fee could increase over time, depending on CPI fluctuations. The FDD outlines the specific calculation method Itan uses to adjust fees based on CPI changes, providing transparency into how these adjustments are made.