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In 2022, Bank of America stopped charging NSF fees and reduced overdraft fees to $10 from $35. No more than two overdraft fees may be charged in a day. ... The bank’s overdraft fee is $35 an ...
Bank of America, for instance, lowered its charges from $35 to $10 in 2022. In 2023, banks collectively earned $5.83 billion in revenue off overdraft and nonsufficient fund fees, down from nearly ...
JPMorgan Chase, Wells Fargo and Bank of America reported a combined $2.2 billion in overdraft fees in 2023, ... Bank of America cut the fees to $10 from $35 in 2022.
Bank of America says the revenue it gets from overdrafts has dropped 90% from a year ago, after the bank reduced overdraft fees to $10 from $35 and eliminated fees for bounced checks.
Here’s what happened then — and where Bank of America fees stand today. ... Overdraft fees: No overdraft or insufficient funds fees Monthly maintenance fee: $4.95 or $0.
Bank of America is eliminating fees for insufficient funds and cutting overdraft fees from $35 to $10, the bank announced in a press release on Jan. 11. The bounced check fee is set to end next ...
Bank of America, the second-largest U.S. bank, said earlier on Tuesday it will reduce the fee it charges customers who overdraft accounts to $10 from $35 starting in May.
Bank of America continues to charge overdraft fees but in May 2022, the fees dropped from $35 to $10 per incident. The APY rates for checking and savings accounts are well under average.