Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Editorial Independence
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.
Here’s a headline you probably didn’t expect: Chase is actually lowering some of its bank fees. Yes, you did read that correctly.
However, the news doesn’t mean that checking accounts are much cheaper at the financial giant. The bank is only lowering certain fees, none of which are directly tied to typical monthly account activities. Here’s a breakdown of the adjustments to fees for Chase customers:
- The cost of overdraft protection transfers from savings to checking accounts will drop from $12 to $10.
- In-person requests for stop payments will drop from $34 to $30.
- Online or mobile stop-payment requests will drop from $27 to $25.
While any decline in bank fees is something to celebrate, I’m curious how many customers this will truly impact. I’m guessing the number of stop-payment requests is relatively small, and the bank’s real revenue generator comes from overdrawn customers who do not have savings accounts. More importantly, I’m wondering if this may give the bank an excuse to hike the fees that really matter to your bottom line, such as monthly maintenance fees or out-of-network ATM charges.
This certainly makes work for the public relations department at Chase easier as the entire banking industry continues to unload more charges for customers. While Bank of America and Wells Fargo have both made recent headlines with new checking account fee experiments, Chase can send customers notes full of banking cheer.
What do you think? Would these fee decreases help to save you any money?
Share