NSF Fee

NSF Fee

A fee one must pay in the event that one bounces a check. For example, if Joe writes a check to Bob for $500, but there is only $400 in Joe's checking account, Joe may have to pay an NSF fee to his bank to discourage him from writing bad checks.
References in periodicals archive ?
It's the Merchant's choice as to how to handle the situation, but the bottom line is that the Merchant has just avoided a potential NSF fee or worse - a fraudulent transaction.
Stephanie Sanford, area manager of Peoples Bank, said, "They avoid a $30 NSF fee, but the problem is they keep doing it.
The NSF fee is subtracted from the customer's available funds, and the customer receives notification that an overdraft item has been paid, along with a notice requesting a deposit to replenish the bounce protection portion of their account.
In the flow of the small-dollar loan transactions, the consumer applies for a loan and receives the loan proceeds, then the lender fails in an attempt to debit a pre-agreed-upon payment on a pre-agreed date, and the bank receives a $35 NSF fee for the task of simply declining the transaction.
Same goes for those that depend upon NSF fee income to keep the lights on, as well as those that don't understand how social media differs from direct mail advertising.
The most common NSF fee at credit unions is $30, compared with $35 at banks.
Does dropping your NSF fee a buck or two below the local community bank really allow you to claim ethical superiority?
With over 700,000 members utilizing the traditional service, the Credit Union felt more could be done to help offset overdraft costs and began ramping up its overdraft mitigation efforts in January 2010, with the introduction of NSF Fee Free Days.
One such complementary program launched at the beginning of 2010 is NSF Fee Free Days, which allows members to have $12 Non-Sufficient Funds fees waived on two days during the year, regardless of the number of items marked as NSF on either of the two days.
While they have little control over their levels of NSF fee income, a noninterest income staple, they say boosting interchange income by encouraging the use of debit cards has become a priority.
In addition, even if the company was not able to recoup a portion of its potential lost NSF fee revenue due to recent regulatory changes, Fitch believes earnings would be negatively pressured in the near term, but that the company would still remain profitable, thereby supporting the Stable Rating Outlook.
Young & Free Michigan's flagship product offering, the First Gear Account, is the ultimate toolkit for Gen Y, offering special tools to help young adults gain momentum in the real world, including MoneyNow overdraft protection plus "Oops Forgiveness" - giving accountholders the ability to refund one overdraft protection or NSF fee every six months after a waiting period.