Overdraft

Regions Bank Gives Customers More Time to Avoid Overdrafts

Retrieved on: 
Thursday, June 15, 2023
Banking, Personal Finance, Professional Services, Finance, Online, Next Step, Overdraft, Financial Health Network, Retail banking, Head, Multimedia, Research, Regions Financial Corporation, Government, Region, Wealth, Bank, Financial services

Regions Bank on Thursday announced its latest enhancement to its core personal checking accounts: Regions Overdraft Grace.

Key Points: 
  • Regions Bank on Thursday announced its latest enhancement to its core personal checking accounts: Regions Overdraft Grace.
  • This new, no-cost feature gives personal checking account customers an extra business day to make deposits and cover overdrafts before an overdraft fee is assessed.
  • Regions Overdraft Grace automatically applies as of June 15, 2023, to all Regions Consumer Banking and Private Wealth Management personal checking accounts.
  • “Regions Overdraft Grace builds on the enhancements we made throughout the last two years and will make it even easier for customers to manage their accounts, cover overdrafts and avoid fees.”
    Danella said research involving the bank’s own customers went into the development of Regions Overdraft Grace.

DoubleCheck Names Jon Weisblatt as Vice President, Corporate and Business Development

Retrieved on: 
Thursday, February 23, 2023
LOS, VC, Corporation, NSF, Acquisition, Fintech, School, Business, Check (chess), Dell, Overdraft, Business development, Fraud, Bank, Management, UShip

LOS ANGELES, Feb. 23, 2023 /PRNewswire/ -- DoubleCheck Solutions™, a financial technology (FinTech) company that offers banks and credit unions more efficiency, transparency, and compliance around NSF and overdraft fees, today announced Jon Weisblatt as its new Vice President of Corporate and Business Development.

Key Points: 
  • "We are pleased to welcome Jon to DoubleCheck," said Joel Schwartz, Founder and Co-CEO of DoubleCheck Solutions.
  • He has precisely the background needed to move DoubleCheck to the next stage in our market and business development, including funding and driving customer success."
  • "Banks and credit unions in the US are being forced to re-think their strategy for handling NSF and Overdraft fees, and the solutions offered by DoubleCheck bring the right mix of technology with an intuitive user experience, banking expertise, and regulatory relief," said Jon Weisblatt, Vice President of Corporate and Business Development at DoubleCheck Solutions.
  • To learn more about DoubleCheck Solutions, visit: www.mydoublecheck.com
    Connect with DoubleCheck Solutions on LinkedIn: https://www.linkedin.com/company/doublecheck-solutions
    Follow DoubleCheck Solutions on Twitter: @DoublecheckS

KeyBank Introduces New Key Coverage Zone(SM) for Clients to Avoid Overdraft Fees

Retrieved on: 
Monday, September 19, 2022
Consumer, Safety, KeyBank, NYSE, CFMA, Feedback, Overdraft, NSF, The Good Life, Acquisition, Industry, Program, Small business, FDIC, Multimedia, View, Bank, Financial services

CLEVELAND, Sept. 19, 2022 /PRNewswire/ -- KeyBank (NYSE:KEY) is committed to helping clients move forward on their financial journey, and today announces changes to overdraft and NSF fees. Initially previewed earlier this year, new terms have gone into effect for Consumer and Small Business checking and savings accounts beginning September 16, 2022. The updates, meant to offer clients more flexibility and convenience and help them stress a little less about their finances, include:

Key Points: 
  • Key Coverage ZoneSMnow helps clients avoid overdraft fees if they're only overdrawn by $20 or less at the end of day, as new terms begin
    CLEVELAND, Sept. 19, 2022 /PRNewswire/ -- KeyBank (NYSE:KEY) is committed to helping clients move forward on their financial journey, and today announces changes to overdraft and NSF fees.
  • Reduced overdraft fees: Overdraft charges outside the Key Coverage ZoneSM and Recurring Overdraft fees are now $20.
  • Remember, overdraft fees are incurred only when outside of the Key Coverage ZoneSM.
  • "In addition,eliminating NSF fees, along with our other overdraft enhancements, serves as thenextstep in creating greater flexibility for our clients.

Pinnacle to Eliminate NSF Fees for Consumers, Reduce Overdraft Fees

Retrieved on: 
Tuesday, July 12, 2022
Banking, Professional Services, Insurance, Finance, Income, American Banker, Forbes, Turner, FORTUNE, Pinnacle, Overdraft, ACH, BHG, Pinnacle Bank Championship, No, Trust, Nasdaq, 100 Best Workplaces in Europe, Pinnacle Financial Partners, NSF, FDIC, Bankers Healthcare Group, Bank, Health insurance

Eliminate the Non-Sufficient Funds (NSF) fee for returned items for consumer accounts.

Key Points: 
  • Eliminate the Non-Sufficient Funds (NSF) fee for returned items for consumer accounts.
  • Reduce the NSF returned item fee from $38 to $30 for business accounts.
  • Reduce the Overdraft fee for paid items from $38 to $30 for consumer and business accounts.
  • Reduce the maximum number of Overdraft Paid Item charges per day from five to three for consumers.

Wells Fargo and Operation HOPE Team Up to Accelerate Financial Inclusion

Retrieved on: 
Tuesday, April 12, 2022
Men, Hispanic, Finance, Consumer, Consulting, Banking, Other Education, Professional Services, Other Philanthropy, Philanthropy, Education, Other Consumer, Foundation, Women, Corporation, Wealth, U.S. Securities and Exchange Commission, Security (finance), Operation HOPE, Inc., CFE, Education, Overdraft, City, Forward-looking statement, Color, HOPE, Multimedia, WFC, CBA, Trust, African Americans, American Banker, Historically black colleges and universities, Advertising, Investment banking, MDI, Small business, HBCU, Annual report, News, Finance, Survivor, Social media, Solution, Capitalism, MDIS, Partnership, Wells Fargo, CEO, Awareness, Twitter, Master, LMI, Operation, Safety, Facebook, Federal Reserve Bank of St. Louis, Fargo, Minority-serving institution, Investment management, Student, NYSE, Instagram, Poverty, Housing, Commercial bank, Tutoring, Risk management, Bank, Management, University

The new HOPE Inside centers will feature Operation HOPE financial coaches who will help empower community members to achieve their financial goals through financial education workshops and free one-on-one coaching.

Key Points: 
  • The new HOPE Inside centers will feature Operation HOPE financial coaches who will help empower community members to achieve their financial goals through financial education workshops and free one-on-one coaching.
  • Working with Operation HOPE is one important way that we can remove barriers to financial inclusion and help empower people with education, resources and tools to manage their money, improve their credit and achieve their financial goals.
  • The Wells Fargo HOPE Inside centers mark a significant step forward in addressing barriers to financial wealth in diverse communities by offering a welcoming space, access to financial coaches, and expanded resources that support the financial goals of individuals with the greatest needs, said John Hope Bryant, Chairman and CEO, Operation HOPE, Inc.
  • The updated community branches will offer spaces for financial health seminars, and individual consultations, such as those offered by Operation HOPE.

Stanford Federal Credit Union Eliminates Non-Sufficient Funds Fees for its Members

Retrieved on: 
Wednesday, April 6, 2022
Finance, Banking, Professional Services, University, Education, Transfer, Credit, Overdraft, Google, ACH, Faculty, Program, Technology, CA, Student, Income, Stanford University, NSF, FCU, OPP, Meta, Stanford Federal Credit Union, Renewable energy, Health insurance, Bank, San Francisco Bay Area

Stanford Federal Credit Union , comprised of members from the Stanford University community and technology companies in the Bay Area such as Google and Meta, announced that effective April 1, it has discontinued non-sufficient funds (NSF) fees in its ongoing efforts to find new ways to give back to its members.

Key Points: 
  • Stanford Federal Credit Union , comprised of members from the Stanford University community and technology companies in the Bay Area such as Google and Meta, announced that effective April 1, it has discontinued non-sufficient funds (NSF) fees in its ongoing efforts to find new ways to give back to its members.
  • Stanford FCU is dedicated to improving the financial lives of our members by offering as much value as possible.
  • Over the past five years we have refunded over $2.3 million in fees to our members, noted Stanford FCU President & Chief Executive Officer Joan Opp.
  • Stanford Federal Credit Union is a $3.9 billion non-profit financial institution with 80,000 members located in Palo Alto, CA.

M&T Takes Steps to Help Customers Meet Short-term Cash Needs and More Easily Manage Personal Finances

Retrieved on: 
Tuesday, February 8, 2022
Nation Media Group, M&T Bank, Income, M&T, Solution, Marketing, Payment card, District, Publication, NYSE, Bank charge, Wilmington Trust, Overdraft, Goal, MTB, Credit card, Bank, Tutoring

BUFFALO, N.Y., Feb. 8, 2022 /PRNewswire/ --M&T Bank (NYSE: MTB) today announced new efforts to limit overdraft-related fees and give customers more flexible options to meet their personal financial needs.

Key Points: 
  • BUFFALO, N.Y., Feb. 8, 2022 /PRNewswire/ --M&T Bank (NYSE: MTB) today announced new efforts to limit overdraft-related fees and give customers more flexible options to meet their personal financial needs.
  • "We're committed to building a banking experience around our customers' needs.
  • M&T Money Smart in the mobile app can help customers track spending and income, as well as projected cashflow and spending trends.
  • M&T's online Financial Education Center helps customers access educational resources to deepen financial literacy, manage money and prepare for big life moments.

AMERANT BANK ANNOUNCES AMERANT COVERME, A FIRST STEP TOWARD ELIMINATING OVERDRAFT FEES

Retrieved on: 
Wednesday, February 2, 2022
Bank, CEO, CORAL, Twitter, Trust, Instagram, Program, Overdraft, Money market, Company, LinkedIn, Amer Sports, Facebook

Additionally, Amerant will be lowering overdraft fees from $35 to $10 for domestic consumer accounts by the end of Q2 2022.

Key Points: 
  • Additionally, Amerant will be lowering overdraft fees from $35 to $10 for domestic consumer accounts by the end of Q2 2022.
  • "Part of our mission at Amerant is to use the power of banking to create social and environmental value for our people, communities, and customers," said Vice Chairman, President & CEO of Amerant Bank Jerry Plush.
  • "We believe these positive changes in overdraft practices are an example of our commitment toward upholding this."
  • Amerant also offers ways to reduce or avoid overdraft fees, including:
    Account alerts via email or text message when balance is low and/or when payments are due.

First Bank of Alabama Lowers Overdraft and Non-Sufficient Fund Fees to Help Customers During Challenging Economic Times

Retrieved on: 
Thursday, January 20, 2022
COVID-19, First Bank, Safety, Industry, Overdraft, Jones, CEO, David Marsh (financial specialist), NSF, Bank

TALLADEGA, Ala., Jan. 20, 2022 /PRNewswire/ --First Bank of Alabama announced today it is reducing the fees it charges customers for its overdraft services.

Key Points: 
  • TALLADEGA, Ala., Jan. 20, 2022 /PRNewswire/ --First Bank of Alabama announced today it is reducing the fees it charges customers for its overdraft services.
  • Effective February 1, 2022, overdraft and non-sufficient fund (NSF) fees will be $22 per item, with overdraft fees subject to a limit of five per business day.
  • Overdraft and non-sufficient fund fees are the fees banks charge their customers when they spend more money than they have in their account.
  • The move is in line with a trend in the banking industry to reduce overdraft and NSF fees for customers.

Chase Helps More Than Two Million Customers Avoid Overdraft Service Fees

Retrieved on: 
Wednesday, December 8, 2021
Professional Services, Data Management, Technology, Mobile, Wireless, Finance, Networks, Banking, Chase Bank, Overdraft, CEO, First Security Bank, Chase, Education, Consumer, Sale, Community, Customer communications management, Retail banking, Bank, Payment card

Customers pay no overdraft service fees when their account is overdrawn by $50 or less at the end of the business day.

Key Points: 
  • Customers pay no overdraft service fees when their account is overdrawn by $50 or less at the end of the business day.
  • Overdraft service fees only begin with the transactions that overdraw the account by more than $50 at the end of the business day.
  • Customers will have until the end of the next business day to bring their balance back to $50 overdrawn or less to avoid overdraft service fees from the previous day.
  • Chase customers can avoid or reduce overdraft service fees by:
    Signing up for Secure Banking, a low-cost account that has no overdraft fees.