Specifically, the Company will implement the following changes to its consumer accounts:
- Elimination of NSF fees for checks or payments that cannot be processed due to lack of funds;
- Elimination of continuous overdraft fees (that is, fees charged when an account maintains a negative balance over an extended period); and
- Elimination of the fee charged when funds are transferred between linked accounts for overdraft protection.
“Our mission at
In addition to eliminating these fees, the Company will continue to offer the following features to help customers manage their finances:
- Consumer choice to opt-out or opt-in for overdraft coverage
- Debit card spending insights and tracking controls in the mobile app, including spending patterns and trends by category, location, and date
- Options to receive updates via email or text message to monitor consumer account balances
- Digital banking solutions to assist with managing finances, including checking balances, transferring funds, and making deposits
- Overdraft Line of Credit for qualifying customers to assist with short-term needs
- Consumer-based financial education programs
- Dedicated Customer Experience Center specialists
These NSF and certain overdraft fees to be eliminated totaled
ABOUT
Contacts: | For Media: | For Financials: |
James C. Mabry IV | ||
Senior Vice President | Executive Vice President | |
Director of Marketing | Chief Financial Officer | |
(662) 680-1219 | (662) 680-1281 |
Source:
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