![]() Fulton Bank will generally pay overdrafts up to the limit disclosed to customers that are in good standing, which means that a customer’s account is not continuously overdrawn for more than 20 days, does not have any garnishments, levies, liens or bankruptcy, has had at least one deposit in the last 30 days, and overdraft/NSF (non-sufficient funds) fees did not exceed 10% of the most recent rolling 12 months of total deposits in the account. Fulton Bank does not guarantee payment of overdrafts and reserves the right not to pay an overdraft item and may instead return or decline to authorize an overdraft item. Once an account becomes overdrawn, Fulton Bank expects that customers will bring the account to a positive balance immediately. Overdrafts may be created by check, ATM, or everyday debit card, in-person withdrawal, ACH, transfer, fees or other electronic means. “We will continue to evaluate our consumer products, services and fee schedule to ensure we are providing industry-leading services to our consumer customers while, at the same time, continuing to change lives for the better,” said Fiol.įulton Bank’s Consumer Overdraft Terminology:Īn overdraft: when an item, like a check, debit card transaction or electronic funds transfer, is paid on a deposit account without sufficient funds in the account to pay the item.Ī non-sufficient funds fee: charged when an item would have caused an overdraft on a deposit account, but the bank rejects and does not pay the item.Īn overdraft fee: charged when an overdraft occurs on a deposit account and the bank pays the item creating the overdraft.Īn extended overdraft fee: may be charged when an overdraft occurs on a deposit account creating a negative balance and the account balance remains negative for more than five consecutive business days. The “Xpress Account” is certified under the BankOn National Account Standards, which are designed to encourage financial institutions to provide consumers with access to safe and affordable checking accounts. In 2021, Fulton Bank launched “ Xpress Account,” a checkless account offering consumer customers many of the benefits of a checking account without overdraft or non-sufficient funds fees with a low monthly maintenance charge. “This is just one of several changes we’ve made or are making to meet customers’ needs and expectations regarding overdraft fees.”įulton Bank has a history of adapting its products and services in response to customer feedback and needs. “We’ve received consumer customer feedback and this is another way we’re responding and helping,” said Andy Fiol, Head of Consumer Banking, Fulton Bank. ![]() In the fourth quarter of 2022, Fulton Bank will eliminate non-sufficient funds and extended overdraft fees for its consumer customers. ![]() (“Fulton Bank”) a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), today announced changes coming to its overdraft program and fee schedule in support of its customers. LANCASTER, Pa.-( BUSINESS WIRE)- Fulton Bank, N.A.
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