Markets

JPMorgan Chase to Introduce New Measures for Customers to Reduce Overdraft Service Fees

11:03AM ET 12/08/2021 MT Newswires
JPMorgan Chase (JPM) said Wednesday starting next year it plans to introduce new measures for customers to avoid or reduce overdraft service fees.

The financial services provider will allow customers a complete day to restore an overdrawn balance of $50 or less to avoid overdraft fees. Customers will also be permitted to use their direct-deposited payroll up to two business days early, the company said.

This follows policy changes to checking accounts introduced earlier in 2021, including the expansion of the overdraft cushion to $50 from $5 and the elimination of its returned-item fee.

JPMorgan's shares were down 1% in recent Wednesday trading.

Price: 160.74, Change: -1.83, Percent Change: -1.13