- Aug 18, 2012
- 24,818
- 20,907
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Another point, recently my wife received a check from someone who didn't have the funds. What a fiasco. Not only didn't we get the cash, we were charged because the check didn't clear. Bouncing checks, is not a harmless thing to do. Now I don't think the fee should be outlandish, but it should be enough to discourage that behavior.
IMO, charging you for someone else's negligence is an exampe of fee abuse.
As for overdraft charges overall, I think most people expect to pay a reasonable fee for overdrafting their account. However, $35 seems excessive. There are some exceptions: Bank of America - $10 and Citibank has no fee. I looked up my Credit Union's fees and was surprised to see it is $30.
Wells Fargo
- Overdraft fee: $35
- Overdraft fee revenue: $937 million
JPMorgan Chase
- Overdraft fee: $34
- Overdraft fee revenue: $1.1 billion
U.S. Bank
- Overdraft fee: $36
- Overdraft fee revenue: $214 million
Bank of America
- Overdraft fee: $10
- Overdraft fee revenue: $140 million
Citi
- Overdraft fee: None
- Overdraft fee revenue:

Will Overdraft Fees Increase Under Trump? Here's What 7 Banks Told Us
Donald Trump, Elon Musk and the GOP want to reduce the authority of the CFPB, the agency behind a 2024 rule limiting overdraft fees.

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