Banks slowly offer alternatives to overdraft fees

 

Source: Tara Siegel Bernard, N.Y.Times ( Paid Registration )

An increasing number of banks are introducing services including grace periods and small short-term loans that provide less-punitive alternatives — if users qualify. Generally that means having a consistent deposit history, like regular paychecks, or other qualifications that may include a longstanding account.

The biggest shift occurred this month when Ally Bank said it would eliminate its $25 overdraft fee altogether, giving customers six days to get in the black again before it potentially limits how they use their accounts.

Read Full Article: Banks slowly offer alternatives to overdraft fees

Tags/Keywords

 

Quick Menu

Facebook FTwitter T