Chase and Bank of America aren’t the only ones suddenly growing pseudo-human faces and reducing their money-sucking overdraft policies. Today Wells Fargo squirted out a press release that says they “will eliminate overdraft fees for customers when they overdraw their accounts by $5 or less and will charge no more than four overdraft fees per day.”
Customers will also be able to opt out of the “protection” altogether and have their transactions declined at the register if there’s no money in their account.
They haven’t stated when this will go into effect, however, so we’d like to see a race between Congress and the banks on who can get rid of the fees first. Go!
“Wells Fargo Announces Changes to Overdraft Practices” [Business Wire via Yahoo! Finance] (Thanks to Rob!)