The Bank Slate


Cullen/Frost in Texas to eliminate NSF fees

The list of banks curbing overdraft and nonsufficient funds (NSF) fees continues to grow. 

Cullen/Frost Bankers in San Antonio said on Monday that it has expanded its $100 overdraft feature to two more checking accounts. The $51 billion-asset company also said it will eliminate fees on nonsufficient and returned items for all consumer customers. 

“Combined, the expansion of these features means Frost expects to forgo as much as $3.5 million per year” in revenue, Jimmy Stead, the company’s chief consumer banking officer, said in the release.

“Nevertheless, we understand that people sometimes make a mistake or have a need that requires a little more money,” Stead added. 

Several other banks have made strides curtailing overdraft and NSF fees, including South State, Hancock Whitney, Ameris Bancorp, Trustmarkand New York Community Bancorp.

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