Our attorneys are pursuing an overdraft fees lawsuit investigation concerning allegations that NBT Bank may be charging its customers improperly for overdraft, insufficient funds, or “returned item” fees.
NBT Bank Overdraft and Returned Item Fees
NBT Bank says, “We will charge you a fee of $35 each time we pay or return an item that overdraws your account.” This encompasses two types of fees:
- overdraft fee ($35)
- returned item fee ($35)
If you have opted into NBT Bank’s overdraft protection program, the bank will charge you an overdraft fee if you overdraw your account, but will still pay the transaction. If you do not opt in to overdraft protection or the transaction does not qualify, the transaction will fail and you will be charged an insufficient funds or “returned item” fee.
Banks sometimes assess these fees in an unlawful manner. If you think this may have happened to you, contact us to learn more.