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overdraft-fees

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Citi Fulfills Follows Through As 'The Only Top Five U.S. Bank, Based On Assets' To Eliminate Overdraft Fees

Citi is following through on its promises to eliminate overdraft fees. The financial institution is now one of the only top five banks in the U.S. (based on assets) to completely get rid of various charges affecting consumers daily. Now, those with Citi Retail Banking consumer deposit accounts no longer have to worry about overdraft fees, returned item fees, or overdraft protection fees. The move is a part of the bank’s ongoing commitment to providing financial inclusion for individuals in underserved communities. As previously shared by AfroTech, the bank is also on a mission to advance economic progress across the nation. Protection from overdraft fees doesn’t just stop at consumers seeing an extra charge or two on their bank account. Citi provides options for combating the issues. As a part of the new overdraft protection services, they will offer two choices for consumers looking to cover negative balance transactions. One includes Safety Check, which transfers available funds...

Jun 24, 2022

Citi Becomes The First Major Bank In The Nation To Completely Eliminate Overdraft Fees

Pesky overdraft fees could soon be a thing of the past thanks to a historic move by Citi. The United States bank has revealed plans to drop its overdraft fees just in time for summer vacation, CNN reports. “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 a statement . “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.”

Feb 25, 2022