We are pursuing an overdraft fees lawsuit investigation over whether Umpqua Bank is charging overdraft or insufficient-funds fees in an unlawful manner.
Umpqua Bank Overdraft and NSF Fees
According to its fee schedule, Umpqua Bank charges at least 3 different types of fees if the account is overdrawn:
- overdraft fee ($35)
- insufficient funds or “NSF” fee ($35)
- overdraft transfer fee ($10)
Umpqua Bank says that the main difference between an overdraft fee and NSF fee is: an overdraft fee is charged when the account is overdrawn and Umpqua still chooses to pay the transaction. An NSF fee — also known as a “returned item” fee — will be charged if the account is overdrawn and Umpqua chooses not to pay for the transaction.
An overdraft transfer fee occurs when an Umpqua customer tries to transfer fees from one Umpqua account to another, but there are insufficient funds.
Umpqua says it will not charge an overdraft fee if the account is “overdrawn by $5.00 or less.”