Banking Insufficient Fee Charges
Banks charge account holders a non-sufficient or insufficient fund fee (“NSF”) when there are non-sufficient funds or insufficient funds, to pay a transaction or check and it rejects the charge. An NSF fee charge can be in access of $30. In some cases, customers claim that multiple NSF fees are charged on the same items if the customer attempts to reprocess payment after the initial payment is denied.
It is not illegal for banks to charge returned item fees or NSF fees, but customers are complaining that banks are abusing this practice by continually trying to charge the bank account for the same transaction, which leaves bank customers having to pay multiple returned item fees. An NSF fee charge can cost around $30 or more per transaction.
Edgar Law Firm is currently conducting an investigation into certain banks charging NSF fees. If you have been charged multiple NSF fees that you believe are unfair, Edgar Law Firm would like to hear about your experience.