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.
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