Bank account fees
Overdrawing bank accounts cost consumers an average of $225 in overdraft fees per year, and more than double that amount for those who chronically overdraw their accounts. These non-sufficient fund fees (NSF) provide banks with about 60% of all consumer checking account revenue, or about $32 billion each year. Overdraft policies vary from bank to bank. Some banks limit customer’s NSF charges to two per day while others can charge as many as 5. Some don’t charge NSF fees for minor overdraws up to $5 while other charge for any amount overdrawn. In 2012, NSF fees ranged from $35 at large banks to $30 at smaller ones. Consumers complain these fees can often be much higher than the amount overdrawn, and can be caused by banks delaying the processing of their ATM deposits. Studies show 70% of all banks let customers overdraw their ATM accounts when a bank teller would not allow the transaction.

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Poll Opening Date
May 21, 2020
Poll Closing Date
May 27, 2020

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