Bank / Credit Union
Citi ends overdraft fees
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February 25, 2022
Citi recently announced it will eliminate all overdraft fees, returned items fees and overdraft protection fees by this summer, according to a press release.
"This latest enhancement is a significant step for Citi as a leader in the banking industry offering the most consumer-friendly overdraft practices," Gonzalo Luchetti, CEO of US personal banking at Citi, said in the release. "We are continuously looking for ways to utilize our industry-leading capabilities to make the financial system easier and more equitable for communities who have little or no financial buffer."
The bank also continues to offer the following overdraft protection services:
- Safety Check transfers from a savings account to cover overdraft.
- Checking Plus line of credit to transfer funds from credit line to checking account.
- Access account package with low or avoidable monthly charges.
- Protection measures to not authorize ATM or point-of-sale transactions when funds are not available.
- Low balance alerts.
