How Much Do Banks Earn on Overdraft Fees: 2018 Update

by
Adam Rust

Top 20 Revenues earned from Overdraft Fees (LIST) by bank, 2018

This data comes from call reports published by the Federal Financial Institutions Examination Council. I have added details showing the price charged by each bank for an overdraft and the maximum number of fees that you can be charged per day.

These sums do not include charges for extended overdraft fees.

in descending order (highest revenues first).

1. JPMorgan Chase: $1.866 billion. $34 per overdraft (up to 3 per day)

2. Wells Fargo Bank: $1.631 billion. $35 per overdraft, up to 3 per day for consumer accounts.

3. Bank of America: $1.628 billion. $35 per overdraft, up to 4 per day.

4. TD Bank: $460.6 million. $35 per overdraft, up to 5 per day.

5. US Bank: $441.9 million. $36 per overdraft, up to 4 per day.

6. PNC Bank: $351.9 million $36 per overdraft, up to 4 per day.

7. Regions Bank: $3.331 million. $36 per overdraft, up to 6 per day.

8. SunTrust Bank: $299.9 million. $36 per overdraft, up to 6 per day.

9. Branch Bank & Trust (BB&T): $241.3 million. $36 per overdraft, up to 6 per day.

10. Woodforest National Bank: $171.8 million. $29 per overdraft, up to 3 per day.

11. Capital One: $161.9 million. $35 per overdraft, up to 4 per day.

12. USAA Federal Savings Bank: $146.3 million. $25 per overdraft, up to 2 per day.

13. Citizens Bank: $142.9 million $35 per overdraft

14. Fifth Third Bank: $132.7 million $37 per overdraft, up to 5 per day.

15. M&T Bank: $119.4 million. $38.50 per overdraft, up to 5 per day.

16. Citibank: $111.0 million $34 per overdraft, up to 4 per day.

17. TCF National Bank, $109.7 million

18. Compass Bank: $105.03 million, $38 per overdraft.

19. First Convenience Bank: $104.998 million $34 per overdraft, up to 3 per day.

20. Huntington National Bank: $99.0 million $37.50 per overdraft, up to 4 per day

Data from call reports published by the Federal Financial Institutions Examination Council

You can find this information in a pdf format, along with other research, on WiseWage's Overdraft page.

Bank Accounts without Overdraft Fees
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overdraft fee amounts

(Update - September 9, 2019): WiseWage now has an account that will let you overdraft your account without paying fees or interest. You can get the Varo Money accout and sign up for No Fee Overdraft. You must have a recurring direct deposit of more than $500 per month to receive the benefit. The maximum overage if $50 - until you repay your debt you will not be able to spend more money.)

Senators Booker (D-NJ) and Brown (D-OH) introduced a new bill that will curb overdraft fees. Entitled "The Stop Overdraft Profiteering Act of 2019," the bill puts rules on the number of fees per account per month, on disclosures, on high-to-low check sequencing, and credit reporting.

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Adam Rust has worked to defend consumers against harmful financial practices since 2005. He has written extensively about overdraft fees, payday lending, credit insurance, student loans, prepaid debit cards, high-cost installment loans, and subprime mortgage lending. The New York Times interviewed him when it reported on the CFPB's rulemaking on prepaid debit cards; subsequently, his research paper framed the debate on consumer protections.

He serves on the Board of the US Faster Payments Council. He is Director of Research at Reinvestment Partners in Durham, North Carolina. He is the author of BankTalk. He is the author of "This is My Home: Challenges and Opportunities of Manufactured Housing" and has testified to Congress on how to redress some of the problems with manufactured housing. See more on his LinkedIn profile.