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Wells Fargo to eliminate overdraft charges

Posted Sep 24th 2009 12:30PM by Mark Fightmaster (RSS feed)
Filed under: Competitive Strategy, Wells Fargo (WFC)

Wells Fargo (NYSE: WFC) announced on Thursday that it will eliminate fees on customer overdrafts of $5 or less and is going to limit overdraft charges to a maximum for four per day.

This move follows similar moves from other large banks, prompting some to ask what took so long. In addition, Wells Fargo customers will be allowed to opt out of automatic overdraft coverage. Doing so would mean that debit card and ATM transactions would not be allowed to go through if your account is overdrawn.

Continue reading Wells Fargo to eliminate overdraft charges

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