CNBC reports big banks like Washington Trust Bank took in a record $30 billion in overdraft fees in 2020—a 256% increase from 2019. Our consumer protection attorneys are pursuing an overdraft fees lawsuit investigation against Washington Trust Bank. We’re concerned about the following fees:
- Overdraft fees
- Insufficient funds (NSF) fees
- Intrabank transaction fees
- Foreign transaction fees
If you’ve incurred one or more of these fees, contact our firm for a free and confidential consultation.
Washington Trust Bank Overdraft and NSF Fees
Washington Trust Bank, headquartered in Spokane, WA, charges many types of overdraft fees.
If you have not opted into their Overdraft Protection, Washington Trust Bank charges a $30 insufficient fund fee per item, whether the bank returns the item or pays for the item.
If you have opted into their Overdraft Protection plan, Washington Trust Bank will transfer funds only in $10 increments to cover the overdrawn amount. Then, Washington Trust Bank charges a fee, ranging from $5 to $10, for each transfer. For example, if you are overdrawn by $50, you may be charged up to $100 in fees.