Banks Raise & Lower Overdraft Fees Created by m.moebs on 1/22/2023 8:39:13 AM
Banks use to act like a herd in the past in pricing.
Now some act like sharks while other like dolphins.
The Brave New World of Banking starts now.
Banks Move to Drop One Price Fits All
Lake Forest IL January 22, 2023 In some U.S. markets a bank charges $0 for an overdraft fee and just down the street another bank charges $42. Pre-COVID or 4 vears ago it was dificult to find an OD fee price spread this significant. In 2019 OD bank prices ranged from a low of $14 and the high $35. Currently the spread is more than double. "Moebs $ervices iust surveyed over 2.000 of the 3.900 U.S. banks offering checking and found the widest differences in overdraft prices, features, and approaches in U.S. history," notes Michael Moebs. "This is good for the consumer who now has many choices." READ FULL ARTICLE