Bank of America is slashing the amount it charges customers when they spend more than they have in their accounts and plans to eliminate entirely its fees for bounced checks. It's the latest move by the nation's biggest banks to roll back overdraft fees.
A Bank of America ATM is seen, Wednesday, Feb. 3, 2021, in Winchester, Mass. Bank of America is slashing the amount it charges customers when they spend more than they have in their accounts and plans to eliminate entirely its fees for bounced checks. The Charlotte-based bank will cut the fee it charges customers to overdraft to $10 from $35 starting in May 2022.
NEW YORK — Bank of America is slashing the amount it charges customers when they spend more than they have in their accounts and plans to eliminate entirely its fees for bounced checks. The bank based in Charlotte, North Carolina, will cut the overdraft fees it charges customers to $10 from $35 starting in May. It will also stop charging fees for non-sufficient funds — which are levied when it rejects a transaction — better known as bouncing a check.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of America Reducing Overdraft Fees to $10, Eliminating Other ChargesStarting in May, BofA will cut the fee it charges customers to overdraft and eliminate fees for bounced checks. The bank is also eliminating two smaller fees as well.
Read more »
Bank of America slashes fees for account overdraftsBank of America is slashing the amount it charges customers when they spend more than they have in their accounts and plans to eliminate entirely its fees for bounced checks.
Read more »
Central bank of Bahrain trials JPMorgan blockchain and tokenThe Central Bank of Bahrain has successfully completed a digital payment test in collaboration with JPMorgan’s blockchain and cryptocurrency unit Onyx.
Read more »
Cerberus hellish German bank bet reaches early endCerberus Capital Management is leaving Germany with its tail between its legs. The U.S. private equity investor late on Monday offloaded roughly two-fifths of its holdings in Deutsche Bank and Commerzbank at a loss of around 20%. The poor payoff from a four-year investment highlights the difficulty of forcing change at large banks, as well as the limits of the group’s own strategy.
Read more »
Binance taps former central bank exec to push compliance in CIS and RussiaA strategic move for binance. The world’s largest cryptocurrency exchange is increasing compliance in the Commonwealth of Independent States, Russia and Ukraine, one of the world’s biggest mining regions.
Read more »
Bank 'jugging' in Richardson has police asking people to be aware of surroundingsA Richardson woman says she was watched at the bank, then followed and assaulted by a robber who stole her money and valuables.
Read more »