Fulton Financial to dial back NSF, some overdraft fees

Fulton Financial in Lancaster, Pa., will do away with fees for nonsufficient funds (NSF) and extended overdrafts during the fourth quarter.

The $26 billion-asset company did not disclose the financial impact of the planned changes.

An extended overdraft occurs when an account balance remains negative for more than five consecutive business days.

“We’ve received consumer customer feedback, and this is another way we’re responding and helping,” Andy Fiol, Fulton’s head of consumer banking operations, said in a press release.

“This is just one of several changes we’ve made or are making to meet customers’ needs and expectations regarding overdraft fees,” Fiol added. “We will continue to evaluate our consumer products, services and fee schedule to ensure we are providing industry-leading services to our consumer customers.”

A growing number of banks have been eliminating NSF and overdraft fees in recent months.

The Bank Slate

Fulton Financial to dial back NSF, some overdraft fees

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The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

About the author

Paul Davis has 20+ years of experience following the banking industry. He is currently director of market intelligence at SRM, an advisory firm that operates in North America and Europe.

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