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 ?
In the immediate future, we will have an unelected, unaccountable bureaucrat deem that a paid NSF fee is no longer allowed (and who knows if the unpaid NSF fee will be permitted).
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.
First, banks acknowledge that high-low sequencing offers increased NSF fee revenue and that a change in the existing rule would diminish their revenue stream.
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.
If a customer does not have sufficient funds in the account, transactions are declined or returned for non-sufficient funds without payment; however, KeyBank does not charge an overdraft or NSF fee.
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.
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.
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.
Does dropping your NSF fee a buck or two below the local community bank really allow you to claim ethical superiority?
An additional way to help traditional accountholders avoid fees is SECU's new NSF Fee Free Days, which has saved Credit Union members over $3.
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.