Consumer Payment Card News


A new survey has found that one out of five U.S. consumers switch banks because of fees they consider excessive. Nearly one out of four surveyed consumers were charged an overdraft fee by their bank in the past year, and 63% believe the fee was unfair, mainly because it was too large. The research by Gartner of 5,000 online U.S. adults in August also shows that one out of 25 consumers switch banks because of security concerns. Additionally, consumers complain that banks take too long to process deposits, or fail to alert customers that accounts are in overdraft. Banks charge overdraft fees on debit card purchases they authorize, even if the account balances can’t cover it and even when funds arrive in the account before settlement. For more information, visit “”:

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